Vista Village Apartments Property Report 1125 N 7th St Sierra Vista, AZ 85635
Vista Village Apartments CONTENTS 01 Executive Summary Executive Summary 3 Unit Mix Summary 4 Location Summary 5 04 Sale Comps Sale Comparables Summary 19 Sale Comparables Charts 21 Sale Comparables Map 22 02 Property Description Aerial Map 6 Parcel Map 7 Property Features 8 Common Amenities 9 Unit Amenities 10 Property Images 11 05 Demographics Demographics 23 Demographic Charts 24 03 Rent Comps Rent Comparables Summary 13 Rent Comparables Map 18 Sourced By Justin Fuller VP of Dispositions 952-898-3461 x123 justin@summer-gate.com We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.
Vista Village Apartments Executive Summary 03 OFFERING SUMMARY ADDRESS 1125 N 7th St Sierra Vista AZ 85635 COUNTY MARKET Cochise GBA 94,000 LAND SF 386,813 NUMBER OF UNITS 94 YEAR BUILT 1973 YEAR RENOVATED 2007 FINANCIAL SUMMARY OFFERING PRICE $0 OCCUPANCY 100.00 % NOI (CURRENT) $457,163 Other Market Areas DEMOGRAPHICS 1 MILE 3 MILE 5 MILE 2017 Population 8,592 30,349 48,459 2017 Median HH Income $48,314 $50,910 $56,938 2017 Average HH Income $57,315 $66,267 $73,897 N 7th St / E Tacoma St median real estate price is $163,575, which is less expensive than 67.7% of Arizona neighborhoods and 67.7% of all U.S. neighborhoods. The average rental price in N 7th St / E Tacoma St is currently $1,248, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 54.9% of Arizona neighborhoods. N 7th St / E Tacoma St is a suburban neighborhood (based on population density) located in Sierra Vista, Arizona. N 7th St / E Tacoma St real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/highrise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the N 7th St / E Tacoma St neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present. N 7th St / E Tacoma St has a 13.7% vacancy rate, which is well above average compared to other U.S. neighborhoods (higher than 71.0% of American neighborhoods). Most vacant housing here is vacant year round. This could either signal that there is a weak demand for real estate in the neighborhood or that large amount of new housing has been built and not yet occupied. Either way, if you live here, you may find many of the homes or apartments are empty.
Vista Village Apartments Unit Mix Summary 04 Unit Mix # Units Square Feet Current Rent Rent PSF Monthly Income 1 bd / 1 ba 20 750 $776 $1.03 $15,520 2 bd / 1 ba 45 950 $924 $0.97 $41,580 3 bd / 1 ba 29 1,050 $928 $0.88 $26,912 Totals/Averages 94 938 $894 $0.96 $84,012
Vista Village Apartments Location Summary 05 When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis. Notable & Unique: Occupations The N 7th St / E Tacoma St neighborhood has a greater proportion of government workers living in it than 98.2% of the neighborhoods in America, according to NeighborhoodScout's exclusive analysis. This is a unique feature of this neighborhood, and one that shapes its character. Furthermore, the N 7th St / E Tacoma St neighborhood stands out nationally for having a greater proportion of its residents active in the military than 98.1% of other U.S. neighborhoods. If you come here, you will notice military people active in their jobs, going to and from work, and in plain clothes out and about the neighborhood. Regional Map In addition, from major sales accounts to fast-food workers, sales and service employees are often the backbone of the local economy. In the N 7th St / E Tacoma St neighborhood, they truly stand out. NeighborhoodScout's exclusive analysis identifies this neighborhood as having a higher percentage of sales and service workers than 96.8% of all American neighborhoods. Locator Map Notable & Unique: Diversity Significantly, 2.2% of its residents five years old and above primarily speak German/Yiddish at home. While this may seem like a small percentage, it is higher than 97.5% of the neighborhoods in America.
Vista Village Apartments Aerial Map 06
Vista Village Apartments Parcel Map 07
Vista Village Apartments Property Features 08 Site Description NUMBER OF UNITS 94 GBA 94,000 LAND SF 386,813 LAND ACRES 8.88 YEAR BUILT 1973 YEAR RENOVATED 2007 # OF PARCELS 1 BUILDING CLASS C NUMBER OF STORIES 2 NUMBER OF BUILDINGS 5 POOL / JACUZZI Pool CONSTRUCTION FRAMING ROOF Wood Frame Flat
Vista Village Apartments Common Area Amenities Common Amenities Pool Pet Friendly Mountain Views Large Courtyards Basketball Court Laundry Center Mature Landscaping 24hr Camera Surveillance Playground
Vista Village Apartments Unit Amenities Unit Amenities Newly Renovated Stainless Steel Appliances Upgrade Lighting Fixtures Microwave Fenced Backyards* *In Select Units Laminate Wood Flooring Paid Utilities Dishwasher Gas Range Private Balcony*
Vista Village Apartments Property Images 11
Vista Village Apartments Property Images 12
Vista Village Apartments Rent Comparables Summary 13 1 Unit Mix and Rent Schedule Unit Mix # of Units Square Feet Asking Rent Rent per SF 2 bd + 1 ba 49 1,001 $895 $0.89 3 bd + 1 ba 27 1,200 $995 $0.82 Total/Avg 76 1,101 $945 $0.86 Unit Mix Breakdown Casa Antigua 2299 Oakmont Dr, Sierra Vista, AZ 85635 Property Summary UNITS 76 YEAR BUILT 2007 OCCUPANCY 99.00 % CONCESSIONS 0.3 Comparables Rent Analysis 2 bd / 1 ba $726 - $924 3 bd / 1 ba $760 - $1,003 Notes Vista Village
Vista Village Apartments Rent Comparables Summary 14 2 Unit Mix and Rent Schedule Unit Mix # of Units Square Feet Asking Rent Rent per SF 1 bd + 1 ba 72 650 $743 $1.14 2 bd + 1 ba 144 920 $830 $0.90 3 bd + 1 ba 37 1,137 $1,003 $0.88 Total/Avg 253 902 $859 $0.97 Unit Mix Breakdown Port Royale 1201 Colombo Ave, Sierra Vista, AZ 85635 Property Summary UNITS 253 YEAR BUILT 2003 OCCUPANCY 93.00 % CONCESSIONS 0.8 Notes Vista Village Comparables Rent Analysis 1 bd / 1 ba $630 - $776 2 bd / 1 ba $726 - $924 3 bd / 1 ba $760 - $1,003
Vista Village Apartments Rent Comparables Summary 15 3 Unit Mix and Rent Schedule Unit Mix # of Units Square Feet Asking Rent Rent per SF 3 bd + 1 ba 80 1,232 $760 $0.61 Total/Avg 80 1,232 $760 $0.61 Unit Mix Breakdown Suncrest 105 N Toscanini Ave, Sierra Vista, AZ 85635 Property Summary UNITS 80 YEAR BUILT 1999 OCCUPANCY 95.00 % CONCESSIONS 0.6 Comparables Rent Analysis 3 bd / 1 ba $760 - $1,003 Notes Vista Village
Vista Village Apartments Rent Comparables Summary 16 4 Unit Mix and Rent Schedule Unit Mix # of Units Square Feet Asking Rent Rent per SF 1 bd + 1 ba 76 603 $630 $1.04 2 bd + 1 ba 80 748 $726 $0.97 3 bd + 1 ba 36 1,031 $890 $0.86 Total/Avg 192 794 $749 $0.96 Unit Mix Breakdown Montego Bay 409 S Lenzner Ave, Sierra Vista, AZ 85635 Property Summary UNITS 192 YEAR BUILT 1997 OCCUPANCY 96.00 % CONCESSIONS 0.5 Notes Vista Village Comparables Rent Analysis 1 bd / 1 ba $630 - $776 2 bd / 1 ba $726 - $924 3 bd / 1 ba $760 - $1,003
Vista Village Apartments Rent Comparables Summary 17 S Unit Mix and Rent Schedule Unit Mix # of Units Square Feet Rent Summary Rent per SF 1 bd / 1 ba 20 750 $776 $1.03 2 bd / 1 ba 45 950 $924 $0.97 3 bd / 1 ba 29 1,050 $928 $0.88 Totals/Averages 94 938 $894 $0.96 Unit Mix Breakdown Vista Village Apartments 1125 N 7th St, Sierra Vista, AZ 85635 Property Summary UNITS 94 YEAR BUILT 1973 OCCUPANCY 100.00 % Amenities Pool Laundry Center Pet Friendly Mature Landscaping Mountain Views 24hr Camera Surveillance Large Courtyards Playground Basketball Court Newly Renovated Paid Utilities Laminate Wood Flooring Upgrade Lighting Fixtures Stainless Steel Appliances Dishwasher Microwave Gas Range Fenced Backyards* Private Balcony* *In Select Units Comparables Rent Analysis 1 bd / 1 ba $630 - $776 2 bd / 1 ba $726 - $924 3 bd / 1 ba $760 - $1,003
Vista Village Apartments Rent Comparables Map 18 # Property Name Address City S Vista Village Apartments 1125 N 7th St Sierra Vista 1 Montego Bay 409 S Lenzner Ave Sierra Vista 2 Suncrest 105 N Toscanini Ave Sierra Vista 3 Port Royale 1201 Colombo Ave Sierra Vista 4 Casa Antigua 2299 Oakmont Dr Sierra Vista
Vista Village Apartments Sale Comparables Summary 19 1 TOTAL UNITS 128 Cap Rate Range 7.25 % - 10.89 % YEAR BUILT 1984 SALE PRICE $4,300,000 PRICE/UNIT $33,594 PRICE/SF $73.19 CAP RATE 7.25 % Price/Unit Range $33,594 - $34,333 DOM Range Highland Woods Apartment Homes 555 N 7th St, Sierra Vista, AZ 85635 Notes Vista Village 2 TOTAL UNITS 60 Cap Rate Range 7.25 % - 10.89 % YEAR BUILT 2006 SALE PRICE $2,060,000 PRICE/UNIT $34,333 PRICE/SF $40.71 Price/Unit Range $33,594 - $34,333 CAP RATE 10.89 % DOM Range Sierra Antigua Apartments 800 N Lenzner Ave, Sierra Vista, AZ 85635 CLOSING DATE 5/8/2017 Notes Vista Village
Vista Village Apartments Sale Comparables Summary 20 S TOTAL UNITS 94 Cap Rate Range YEAR BUILT 1973 OCCUPANCY 100.00 % Price/Unit Range Vista Village Apartments 1125 N 7th St, Sierra Vista, AZ 85635
Vista Village Apartments Sale Comparables Charts 21
Vista Village Apartments Sale Comparables Map 22 # Property Name Address City S Vista Village Apartments 1125 N 7th St Sierra Vista 1 Sierra Antigua Apartments 800 N Lenzner Ave Sierra Vista 2 Highland Woods Apartment Homes 555 N 7th St Sierra Vista
Vista Village Apartments Demographics 23 POPULATION 1 MILE 3 MILE 5 MILE HOUSEHOLDS 1 MILE 3 MILE 5 MILE 2000 Population 7,712 25,566 40,826 2010 Population 8,412 29,565 48,013 2017 Population 8,592 30,349 48,459 2022 Population 8,468 29,952 47,708 2017 African American 717 2,791 4,399 2017 American Indian 119 407 562 2017 Asian 326 1,215 2,038 2017 Hispanic 2,514 8,036 11,628 2017 White 6,152 21,507 35,053 2017 Other Race 662 2,315 3,195 2017 Multiracial 570 1,938 2,941 2017-2022: Population: Growth Rate -1.45 % -1.30 % -1.55 % 2017 HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE less than $15,000 484 1,620 2,079 $15,000-$24,999 418 1,170 1,588 $25,000-$34,999 366 1,284 1,778 2000 Total Housing 3,602 11,939 17,073 2010 Total Households 3,568 12,099 18,767 2017 Total Households 3,675 12,468 19,183 2022 Total Households 3,633 12,301 18,888 2017 Average Household Size 2.32 2.37 2.40 2000 Owner Occupied Housing 1,688 5,672 8,522 2000 Renter Occupied Housing 1,563 4,978 6,945 2017 Owner Occupied Housing 1,783 6,340 10,840 2017 Renter Occupied Housing 1,892 6,128 8,343 2017 Vacant Housing 392 1,764 2,397 2017 Total Housing 4,067 14,232 21,580 2022 Owner Occupied Housing 1,825 6,464 10,992 2022 Renter Occupied Housing 1,809 5,837 7,896 2022 Vacant Housing 536 2,290 3,149 2022 Total Housing 4,169 14,591 22,037 2017-2022: Households: Growth Rate -1.15 % -1.35 % -1.55 % $35,000-$49,999 621 2,026 2,769 $50,000-$74,999 758 2,421 3,753 $75,000-$99,999 510 1,635 2,833 $100,000-$149,999 413 1,469 2,741 $150,000-$199,999 83 497 941 $200,000 or greater 21 346 701 Median HH Income $48,314 $50,910 $56,938 Average HH Income $57,315 $66,267 $73,897 Source: esri
Vista Village Apartments Demographic Charts 24 2017 Household Income 1 Mile Radius 3 Mile Radius 5 Mile Radius 2017 Population by Race 1 Mile Radius 3 Mile Radius 5 Mile Radius
Vista Village Apartments Demographic Charts 25 2017 Household Occupancy - 1 Mile Radius 2017 Household Income Average and Median Average Income Median Income
Vista Village Apartments Sourced By Justin Fuller VP of Dispositions 952-898-3461 x123 justin@summer-gate.com powered by CREOP