1827 E Lemon St, Tempe, AZ 85281

We are pleased to present the exclusive offering of Alegre Park, a 24-unit multifamily community located in the heart of Tempe. Originally built in 1961 and extensively renovated in 2024, the property offers investors the opportunity to acquire a well-positioned asset with strong in-place cash flow and continued upside in one of the Valley's most supply-constrained rental markets.

The property consists primarily of efficiently designed one-bedroom units with renovated interiors featuring quartz countertops, shaker cabinetry, recessed LED lighting, brushed nickel hardware, and modern electric appliances. Additional capital improvements include new exterior paint, bike racks, and a community pet recreation area.

Healthy renter demand continues to support the Tempe multifamily market, with Phoenix recording roughly 16,000+ units of annual absorption and quarterly leasing activity now outpacing new deliveries as construction pipelines begin to moderate. Investors have the opportunity to capitalize on current supply pressures and ride the wave of future rent growth as market fundamentals strengthen. The asset offers an attractive combination of stable in-place income, operational upside, and long-term positioning within a highly desirable infill location driven by proximity to employment, education, and lifestyle amenities.