MULBERRY APARTMENTS 16-UNITS 1820 W. Mulberry Dr. Phenix, AZ 85015 PRICE: $1,592,000 NUMBER OF UNITS: 16 UNIT PRICE: $99,500 PROFORMA CAP: 6.21% NEAR ENCANTO INTERIOR/EXTERIOR REHAB WASHER/DRYER IN UNITS PRIVATE BACKYARDS AND BALCONIES CHIC MID CENTURY LOOK LOW VACANCY AREA QUARTZ TOPS / STAINLESS APPLIANCES LOW MAINTENAINCE BUILDING GPCImultifamily.cm MARK SKELPSA APARTMENT SPECIALIST 480.430.5752 Mark.Skelpsa@GPCIMultfamily.cm TERRY KASS CCIM, CPM 602.703.5277 Terry.Kass@GPCIMultfamily.cm
AREA INFORMATION Lcatin Lcatin! Mulberry Apartments is a beautiful renvated prperty in central Phenix. The mid-century lk and all 1-bedrm units are perfect fr the dwntwn crwd. Tenants lve the prximity t the arts and fd districts, Encant Park, and easy freeway access. Each unit has its wn private yard r balcny, and an in-unit washer/dryer. The extensive renvatins include new flring, high end cabinets, stainless appliances, and quartz cuntertps. Electric is submetered and billed back t the tenants. Ht water is prvided by a central biler. The prperty enjys lw vacancy and lw maintenance. Additin f an extra unit may be pssible. This easy keeper is a beautiful additin t yur incme prtfli! GPCImultifamily.cm
FINANCIAL SUMMARY GPCImultifamily.cm
PROPERTY SUMMARY PROPERTY DESCRIPTION PARCEL UTILITIES NUMBER OF UNITS 16 NUMBER OF PARCELS 1 HVAC Rf Munted HVAC YEAR BUILT 1968 TAX NUMBER PARCELS 110-26-076D ELECTRICITY Sub-Metered NET RENTABLE SF 10,948 ZONING R-4 WATER/SEWER Master Metered NUMBER OF BUILDINGS 3 2017 ASSESSED PROPERTY TAX $4,472 GAS Gas Biler NUMBER OF STORIES 2 PARCEL SIZE 0.42 Acres PARKING 16 cvered LAUNDRY In units CONSTRUCTION Frame ROOFS Built Up GPCImultifamily.cm
DOWNTOWN PHOENIX ECONOMIC HIGHLIGHTS Tday's Dwntwn Phenix basts the highest cncentratin f emplyment in Arizna, ffering impressive urban amenities including living, shpping, arts, and entertainment. Develpment driven by light rail nw tps $8.2 billin, with nearly $5 billin in Phenix alne alng the 20-mile rute. There are currently 11,500 ASU students taking classes Dwntwn, and that number is t grw t 15,000 at full enrllment. Anchred by the IGC/TGen headquarters, The Phenix Bimedical Campus (PBC) is a 30-acre urban research park in the heart f dwntwn with an annual ecnmic impact f mre than $1.3 billin. Plans t redevelp Hance Park imagine it as Phenix s equivalent f Central Park in New Yrk r Millennium Park in Chicag. Rsevelt Rw Artists District is a walkable, creative district in the urban cre f dwntwn Phenix. It is natinally knwn fr its arts and cultural events, award-winning restaurants, galleries, butiques and live music. In additin t a vibrant educatin and bimedical crridrs, Dwntwn Phenix is als seeing an influx f technlgy cmpanies, and related entities, sensing synergistic pprtunities with the area, including Uber, Quicken Lans (1,100+ emplyees) and Slera Health t name a few. #1 ASU Dwntwn #2 Bimedical Campus #3 Hance Park Redevelpment #4 Rsevelt Rw District #5 Emplyment Epicenter GPCImultifamily.cm
PHOENIX METRO ECONOMIC HIGHLIGHTS Phenix, Arizna s capital, is the sixth largest city in the United States with just ver fur millin residents. As ne f the fastest grwing regins in the natin, Greater Phenix represents apprximately 75 percent f the state s ecnmy. Arizna s favrable business climate and clse prximity t majr markets create an advantageus perating envirnment fr cmpanies lking t expand r relcate t the regin. The vibrant grwth f the Phenix Metr area has utpaced U.S. ppulatin grwth fr the past 21 years and is ne f ten U.S. markets expected t see mst f the natin s grwth ver the next 40 years. In fact, the Phenix Metr is expected t grw t 6.3 millin by 2030. Greater Phenix is als the sixth yungest metrplitan regin in the natin. The regin s median age f 34.7 is yunger than that f Denver, Ls Angeles, Las Vegas, San Francisc. Business services and turism make up ver 75% f the ecnmy in Phenix. In additin, the Metr area ffers a strng, established health care and life sciences industry, with sme f the natin s majr players such as May Clinic, Scttsdale Healthcare, Banner Healthcare, lcated here. Jbs in the health care field are grwing three times faster than the natinal average. Additinally the Metr is hme t majr emplyers such as: Intel, State Farm, American Express, Wells Farg, PayPal, and Orbital ATK. Nearly 32,000 jbs in the area are in high-tech manufacturing, develpment, engineering, and research and design. Manufacturing is als a majr cmpnent f the emplyment base. Phenix Sky Harbr Internatinal Airprt served mre than 44 millin passengers in 2015, making it the ninth busiest airprt in the U.S. and amng the tp 25 in the wrld. #1 In Jb Grwth #9 Best Place T Retire #3 Fastest Grwing City #10 Mst Fiscally Fit City #12 Best City T Live And Wrk Expectatin Frbes Bankrate.cm Frbes Sperling s Best Places Rbert Half GPCImultifamily.cm
DISCLAIMER: All prperty infrmatin, either written r verbal, is prvided withut representatin r warranty as t cmpleteness, veracity, accuracy, cnditin f the prperty, regulatry cmpliance, feasibility, r prjected financial perfrmance f the prperty. All data and assumptins regarding financial perfrmance, including that prvided fr financial mdeling purpses, may differ frm actual data. Yu are strngly urged t verify all infrmatin and t btain third party prfessinal cunsel regarding all matters (i. inspectin, tax, title, legal, engineering, architectural, gvernmental, etc.) GPCImultifamily.cm MARK SKELPSA APARTMENT SPECIALIST 480.430.5752 Mark.Skelpsa@GPCIMultfamily.cm TERRY KASS CCIM, CPM 602.703.5277 Terry.Kass@GPCIMultfamily.cm