1433 S STANLEY PL Tempe AZ 85281

REI Marketing is pleased to offer for sale Springleaf Apartments, a centrally located, updated garden style apartment in Tempe, Arizona just a half mile from ASU and the bustle of Mill Avenue.

PROPERTY: Springleaf is a 22 unit community built in 1978 and renovated in 2019. The community is individually metered for electricity, has individual ground mounted HVAC’s and individual water heaters in each of the units. Springleaf offers 22 cookie cutter one bed/one bath units averaging 585 SF with a galley-style kitchen, full bathroom and living area. 20 units have been fully refreshed with new stainless steel appliances, updated fixtures and new flooring. Exterior improvements include updated gated pool, refreshed paint and roofs.

OPPORTUNITY: This cul de sac property is a prime candidate for a new owner to continue renovation program with an exterior reposition strategy to achieve rent premiums in the strong Tempe market.

AMENITIES: Residents enjoy onsite laundry, gated community pool and sun deck. Positioned at the end of a cul de sac with ample parking provides the opportunity to create an additional amenity.

TRANSPORTATION: The project is close to the light rail delivering riders quickly to the Phoenix MSA. Construction has also begun on the Tempe Streetcar line, a $180 million dollar project slated for completion in 2020. Access to major freeways as well as an international airport are also just a short drive from the site.

LOCATION: Springleaf is well located in the heart of the vibrant and urban city of Tempe, Arizona; an epicenter for business, education, and development. The community is walkable to one of the country’s largest public universities, ASU, and is located just minutes from downtown Mill Avenue, famous for its dozens of restaurants and bars. Also close by is Tempe Marketplace, a 1.3 million SF shopping, dining and entertainment open-air retail mecca. Tempe Town Lake borders the north end of the city featuring a 25 acre recreational park which hosts over 75 events a year and the business hub of Marina Heights and Hayden Ferry. With Springleaf’s prime location in the booming city of Tempe, it provides the ultimate living experience for the young professional, college student or millennial tenant base.