1934 E Fairmount Ave - Apartments FOR SALE


Phoenix, AZ 85016
$1,800,000 USD
602-687-6679
1934 E Fairmount Ave, Phoenix, AZ for Sale
$1,800,000 USD
Apartments - FOR SALE
1/19
null | Request Cap Rate

1934 E Fairmount Ave
Phoenix, AZ 85016


OVERVIEW

Ideally positioned in a coveted centralized location, 1934 Fairmount (“the property”) is an 8-unit apartment community primely located immediately Southwest of the Indian School Road and 20th Street intersection, in the heart of the Biltmore Submarket. Its nearby proximity to State Route 51, a major transportation artery, affords residents direct access to simple passage within desirable commute times to nearly any destination across The Valley. Some of those nearby destinations include a number of the most prominent employment and entertainment corridors in the state. Located less than a mile of 1934 Fairmount sits Biltmore’s Shops at Town & Country and Camelback Colonnade, offering residents convenient access to ±1.51M square feet of retail showcasing retailers such as Whole Foods, Trader Joe’s, Best Buy and Nordstrom Rack. The Camelback Employment Corridor, where names such as Cisco , Charles Schwab, Accenture, and Humana are stationed is home to ±46,000 employees and ±1,200 employers. also offers numerous dining and entertainment amenities. Additionally, Midtown is home to the Innovation Employment Corridor, which runs down Central Avenue, presenting employment opportunities from some of the most prolific companies in Arizona such as Banner Health and IBM. Together, the Camelback and Innovation Corridors showcase over ±117,000 employees and ±3,300 employers. Built in 1971 and renovated in 2021, 1934 Fairmount is comprised of 100% one-bedroom floorplans covering an average of ±558 square feet. The interiors for all 8 units have been renovated and the entire exterior community space has been updated with new paint and landscaping. Future ownership will have the opportunity to add in-suite washer/dryer units and front patios.

FOR SALE DETAILS

PRICE

$1,800,000 USD

PRICE/SF

$403 USD /SF

# OF UNITS

8

PRICE/UNIT

$225,000

CAP RATE

Request Cap Rate

% LEASED

87%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1934 Fairmount

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.29 AC

LAND SF

12,632 SF

ZONING

R-4

APN/PARCEL ID

119-28-124B

ASK ABOUT THIS PROPERTY

Paul BayMarcus & MillichapMore Info
602-687-6679

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Paul BayMarcus & MillichapMore Info
602-687-6679

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.