Listed by Marcus & Millichap - Phoenix
$5,850,000
West Edge at Thunderbird
Details
Property Type Multifamily
Square Footage 14,341
Net Rentable (SqFt) 14,341
Units 32
Cap Rate 6.43%
NOI $376,445
Occupancy 88%
Tenancy Multi
Class B
Year Built 1980
Year Renovated 2022
Acreage 0.970
Parking Spaces 33 spaces
Parking per 1,000 SqFt 2.30
Investment Type Stabilized
Ground Lease No
Rare Mid-Sized, Single-Level Northwest Valley Stabilized Investment Property with Over $30,000 per U
Investment highlights
Built in 1980 and renovated in 2022, West Edge at Thunderbird offers 32 units covering an average of 448 square feet - each complete with large private yards and in-suite laundry (select units). The property has seen interior and exterior renovations of just over $30,000 per unit in capital expenditures during the current hold. Future ownership will have the opportunity to upgrade 23 of the units to include in-suite laundry and benefit from future rent growth associated with the continued economic boom experienced in North West Phoenix.
Listing Contacts
Listed by Marcus & Millichap - Phoenix
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$376,445.00
$31,370.42/mo
Valuation Metrics
0
DSCR
6.43%
Cap Rate
6.43%
ROI
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