Glenn East Apartments presents a prime value-add investment opportunity with attractive assumable debt, allowing for a seamless transition to new ownership. Centrally located off Campbell Avenue and just north of The University of Arizona and University Medical Center (Banner Hospital), this well-maintained 46-unit community offers strong potential for long-term rent growth. Constructed with durable masonry, the property is surrounded by meticulously landscaped common areas featuring shade trees, desert-friendly plants, and artificial turf for low-maintenance appeal. A partially gated entrance enhances security while maintaining an inviting atmosphere. The unit mix consists of (12) 1BD/1BA and (34) 2BD/1BA units, which will be attractive offerings to a diverse tenant base.
While select units have undergone minor upgrades, there remains a significant opportunity for further interior renovations to capture market-rate rents. Current upgraded units feature modern kitchens with new paint, cabinetry, tile backsplash, and updated flooring, along with enhanced living spaces in select units, including refreshed bedrooms and bathrooms. The 2BD units feature upgraded electrical and full air conditioning systems while the 1BD units are still on evaporative cooling.
Ownership currently covers common area utilities, water, sewer, and trash services, with cost-sharing through an established RUBS & CAMS program, successfully passing some utility expenses to tenants for improved operational efficiency. The property fosters a vibrant, community-focused environment with lush courtyards, well-maintained walkways, a swimming pool, and a picnic area with a barbecue grill. Residents benefit from shared laundry facilities and reserved covered parking, adding to the property’s appeal.
Positioned near The University of Arizona, Glenn East Apartments is a highly attractive housing option for students and young professionals. It’s central location, strong demand, and below-market rents present an immediate investment upside, making it a standout opportunity for investors seeking both short-term gains and long-term value appreciation.