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30951963
30951971

2936 N 39th St, Phoenix, AZ 85018

RA
AZ
Newmark - Phoenix
Listed by Newmark - Phoenix
$3,100,000
83 days on market
Updated 35 days ago

Urbana @ 39th

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 9,900
Net Rentable (SqFt) 9,900
Units 14
Cap Rate 5.83%
NOI $180,651
Occupancy 100%
Pro-Forma Cap Rate 5.83%
Pro-Forma NOI $180,651
Price per SqFt $313
Class A
Year Built 1983
Year Renovated 2025

Boutique 14 Unit | Modern & Fully Renovated in 2025 | Coveted Citrus Acres-Arcadia Lite Neighborhood

Marketing description

Urbana @ 39th is a boutique 13 unit, fully renovated community in the heart of the coveted Citrus Acres-Arcadia Lite neighborhood. This pride-of-ownership community represents a fully renovated investment opportunity in one of Phoenix’s most desirable infill neighborhoods. Constructed in 1983, the property benefits from a superior vintage compared to much of the surrounding 1960s–1970s properties in the neighborhood, offering more functional layouts and modern infrastructure while maintaining proven durability. The property features block construction, pitched asphalt shingle roofs, ABS sewer lines, and copper plumbing—providing investors with long-term structural integrity and reduced capital expenditure risk relative to older vintage properties. The community is Individually metered for electricity, which allows for operational efficiency and expense control, all while benefiting from strong renter demand in the highly sought-after Citrus Acres / Arcadia Lite neighborhood.

The community has been thoughtfully upgraded with contemporary interior finishes, in-unit washer/dryers, and private back patios in more than half the units, creating a highly competitive rental product in the submarket. Additional exterior enhancements—including a newly constructed gazebo, several artificial grass areas, and planter boxes—further elevate the resident experience and curb appeal.

INTERIOR UPGRADES

KITCHEN

· New Modern Shaker Cabinets

· Quartz Countertops

· Stainless Steel Under Mount Sink

· Retractable Accordion Faucet

· Stainless-Steel Appliances including Built-in Microwaves and Dishwashers

· Buit-In Flat Glass Top Cooking Range

· Modern Lighting Fixtures

· Modern Waterproof Plank Wood Flooring

BATHROOM

· New Tub and Shower Surround

· New Modern Shaker Vanity Cabinets with Marble Countertops

· Modern Stainless-Steel Anodized Bronze Faucet and Fixtures

· New Lighting Fixtures

· New Low Flow Toilets

· Modern Waterproof Plank Wood Flooring

BEDROOM & LIVING ROOM

· Stackable Front Load Washer & Dryer In-Unit

· New Exterior Sliding Door Leading to Private Patio (1st Floor Units)

· Modern Waterproof Plank Wood Flooring

· New 4” Baseboards

· New Blinds Throughout

· Remote Control Modern Dual Draft Ceilings Fans

· New Modern Design Interior & Closet Doors

· Anodized Bronze Door Hardware

EXTERIOR UPGRADES

COMMUNITY

· New Modern Exterior Paint

· New Private Patio Fencing (1st Floor Units)

· New Seal and stripe of Parking Lot

· New Exterior Doors with Glass Inlet

· Redesigned and Refinished Large Shaded Private Courtyard w/ Gazebo

· New Modern Landscaping & Paver Walk Paths w/ Mature Palm Trees

· Large Artificial Turf Areas

· New Modern Exterior Lighting

· New Modern Unit Lettering

Investment highlights

Listing Contacts

RA
AZ
Newmark - Phoenix
Listed by Newmark - Phoenix

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$180,651.00
$15,054.25/mo

Valuation Metrics

0
DSCR
5.83%
Cap Rate
5.83%
ROI

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