Avanti Apartments In Arcadia 2939 N 36th St Phoenix, AZ 85018

Transcription

1 Avanti Apartments In Arcadia PRESENTED BY: PRESENTED BY: Don Mortensen / / Bryan Mortensen / /

2 Avanti Apartments In Arcadia PROPERTY OVERVIEW The Avanti is a 30 unit apartment community located in a highly desired region of East Phoenix. Its located on the Southwest end of Arcadia on 36th Street just South of Osborn and surrounded by new developments. It is very well built, functional and well taken care of. Every unit is individually metered. There is NO chiller system (like other complexes nearby), providing landlords with a very reasonable electric bill. 70% of the units have had new HVAC systems installed within the last 5 years. The buildings are made of block construction with stucco and paint finishes. It is also built with concrete flooring between the two levels providing less maintenance, no creaking floors, and a better sound barrier for happier tenants. Being built in 1981 means No lead base paint or asbestos. The roof is in good condition and all plumbing is copper. Every unit has a garbage disposal, dishwasher, as well as a stove, and the top floor units have vaulted ceilings. Rents are under market with great upside potential. PROPERTY SUMMARY Sale Price: $2,849,700 Number Of Units: 30 NOI: $85,299 Lot Size: 0.81 Acres Building Size: 16,788 SF Ceiling Height: 9.0 FT Year Built: 1981 Renovated: 2012 PROPERTY HIGHLIGHTS Individually metered for electricity AND HVAC. New HVAC systems in 70% of the units No chiller system Copper plumbing Block construction Concrete floors on second level Rents under Market Located Southwest end of Arcadia Close to the valley top restaurants and shopping centers Close to many valley employers Easy access to free ways Zoning: Cross Streets: R-4A 36th Street & Osborn High visibility Built in C

3 FOR SALE MULTIFAMILY Avanti Apartments In Arcadia

4 FOR SALE MULTIFAMILY Avanti Apartments In Arcadia

5 FOR SALE MULTIFAMILY Avanti Apartments In Arcadia

6 FOR SALE MULTIFAMILY Avanti Apartments In Arcadia

7 Quality Constructed Apartment Surrounded By New Construction And Rising Rents Concrete floors on second level in excellent condition (as shown in top right picture). Construction type provides for a low maintenance property. C

8 Rent Roll Short term leases will allow the buyer to make immediate rent increases. TENANT NAME NUMBER BED BATH SIZE (SF) LEASE START LEASE END CURRENT RENT CURRENT RENT (PER SF) MARKET RENT SECURITY DEPOSIT /1/2010 Mo. to Mo $600 $0.86 $850 $ /1/2010 2/18/2018 $675 $1.23 $750 $ /1/2016 Mo. to Mo $650 $1.18 $750 $ /1/2016 Mo. to Mo $625 $1.14 $750 $ /1/2017 Mo. to Mo $625 $1.14 $750 $ /1/2016 Mo. to Mo $625 $1.14 $750 $ /1/2017 7/1/2017 $625 $1.14 $750 $ /1/2016 Mo. to Mo $625 $1.14 $750 $ /1/2017 Mo. to Mo $625 $1.14 $750 $ /1/2017 Mo. to Mo $625 $1.14 $750 $ /1/2016 Mo. to Mo $625 $1.14 $750 $ /1/2014 Mo. to Mo $775 $1.41 $750 $ /1/2017 5/31/2017 $625 $1.14 $750 $ /1/2015 Mo. to Mo $575 $1.05 $750 $ ffice Mo. to Mo $0 $0.00 $750 $ /1/2010 Mo. to Mo $600 $0.86 $850 $ /1/2015 Mo. to Mo $625 $1.14 $750 $ /1/2012 Mo. to Mo $525 $0.95 $750 $ /1/2016 Mo. to Mo $675 $1.23 $750 $ /1/2016 Mo. to Mo $625 $1.14 $750 $ /1/2014 Mo. to Mo $505 $0.92 $750 $ /1/2013 Mo. to Mo $510 $0.93 $750 $ /1/2015 Mo. to Mo $575 $1.05 $750 $100 C

9 Rent Roll Short term leases will allow the buyer to make immediate rent increases. TENANT NAME NUMBER BED BATH SIZE (SF) LEASE START LEASE END CURRENT RENT CURRENT RENT (PER SF) MARKET RENT SECURITY DEPOSIT /1/2015 Mo. to Mo $625 $1.14 $750 $ /1/2016 Mo. to Mo $625 $1.14 $750 $ /1/2014 Mo. to Mo $550 $1.00 $750 $ /1/2016 Mo. to Mo $725 $1.32 $750 $ /1/2016 Mo. to Mo $595 $1.08 $750 $ /1/2012 Mo. to Mo $500 $0.91 $750 $ /1/2015 Mo. to Mo $585 $1.06 $750 $0 Totals/Averages 16,800 $17,745 $1.06 $22,700 $1,700 C

10 Avanti Apartments TYPE COUNT % TOTAL SIZE (SF) RENT RENT/SF MARKET RENT DEPOSIT All 1 beds $595 $1.08 $750 All 2 beds $595 $0.85 $850 Totals / Averages % 16,800 $17,850 $1.06 $22,700 $0 C

11 FOR SALE MULTIFAMILY Located In The Center Of Valley Favorite Retailer And Emplyers

12 FOR SALE MULTIFAMILY Avanti Apartments

13 Strong Demographics 1 Mile 2 Miles 3 Miles Total Population 22,176 79, ,801 Population Density 7,059 6,287 4,944 Median Age Median Age (Male) Median Age (Female) Total Households 8,635 31,214 55,063 # of Persons Per HH Average HH Income $46,564 $54,765 $60,353 Average House Value $250,762 $318,686 $396,733 * Demographic data derived from 2010 US Census C