Listed by Coldwell Banker Commercial Realty, Metro Phoenix Commercial Team with Coldwell Banker Commercial Realty
$4,350,000
Macallister Apartments
Details
APN 157-19-140
Property Type Multifamily
Sub Type Apartment Building, Duplex/Triplex/Quadruplex
Square Footage 16,792
Units 24
Cap Rate 5.04%
NOI $219,435
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 5.45%
Pro-Forma NOI $237,176
Price per SqFt $259
Year Built 2017
Buildings 2
Stories 2
Lot Size (SqFt) 33,759
Zoning R-4
Parking Spaces 34 spaces
Parking per 1,000 SqFt 2.02
Investment Type Stabilized
Multifamily | 4.48% CAP | 24 Units
Marketing description
Macallister is a 2017 built , 24-unit, apartment community located in a quiet, central Phoenix neighborhood with a 4%, Interest-only assumable loan . Each of the studio, one-bedroom and two-bedroom, two-bath units are larger than normal. The attractive interiors have granite counter tops, stainless steel appliances, wood-vinyl flooring and in-unit washer dryers. Exterior includes a conveniently located fenced pool, covered parking and attractive, mature landscape. Upstairs units have sizeable balconies and the lower units back to a patio.
Built in 2017, rare for a smaller apt community 4%, $2,350,000 Interest-only, assumable loan Large units – all with Washer/Dryers Balconies or patio backyard Covered parking – convenient pool Strong occupancy – below market rents
Investment highlights
- Built in 2017, rare for a smaller apt community
- 4%, $2,350,000 Interest-only, assumable loan
- Large units - all with Washer/Dryers
- Balconies and patio backyard
- Covered parking - convenient pool
- Strong occupancy - below market rents
- Quiet residential neighborhood
- Convenient to I-17 and the Light Rail
- Metrocenter Mall being transformed to an upscale, destination urban village ($900 million)
- Sheraton Cresent Hotel and Canyon Corp. Center being converted to luxury apartments
- Directly north on I-17, the massive investments by TSMC, Softback and related companies will create a very strong housing demand that will extend down I-17
Listing Contacts
Listed by Coldwell Banker Commercial Realty, Metro Phoenix Commercial Team with Coldwell Banker Commercial Realty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$219,435.00
$18,286.25/mo
Valuation Metrics
0
DSCR
5.04%
Cap Rate
5.04%
ROI
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