2335 E Utopia Rd - Apartments FOR SALE


Phoenix, AZ 85024
$6,750,000 USD
602-687-6679
2335 E Utopia Rd, Phoenix, AZ for Sale
$6,750,000 USD
Apartments - FOR SALE
1/26
null | Request Cap Rate

2335 E Utopia Rd
Phoenix, AZ 85024


OVERVIEW

Situated in the heart of North Phoenix’s historic economic resurgence, Monarch (the “Property”) capitalizes on its prime location, less than a mile from the Loop 101 Freeway, to attract the growing influx of white-collar professionals drawn by Taiwan Semiconductor Manufacturing Company’s (TSMC) highly anticipated ±$65 billion campus. North Phoenix offers immense potential, combining exceptional demographics, recent lifestyle enhancements, and infrastructure upgrades with the transformative high-tech vision of the north I-17 corridor. The Deer Valley and north I-17 Employment Corridors have long been among the densest hubs for finance and business services jobs in Greater Phoenix, hosting globally recognized companies such as USAA, Honeywell, Wells Fargo, Farmers Insurance, and Cigna. These corridors are now experiencing significant growth fueled by TSMC’s presence and the arrival of its affiliates and suppliers, including ASML, LAM Research, Applied Materials, and Sunlit Chemical. Over the next five years, the area is projected to gain more than ±80,000 new jobs, reinforcing its status as a thriving center for innovation and opportunity. Monarch (“the Property”), completed in 2020, features 18 two-story townhomes with spacious 2 Bdr 2.5 Bath and 3 Bdr 2.5 Bath floorplans, averaging 1,410 square feet per unit. Each residence boasts state-of-the-art modern kitchens equipped with full-size stainless-steel refrigerators, granite countertops, subway tile backsplashes, and custom cabinetry with soft-close doors. Enhancing the boutique community experience, Monarch offers private, direct-access two-car garages, 10-foot ceilings, walk-in master closets, and a resort-style pool, delivering a perfect blend of luxury and functionality.

FOR SALE DETAILS

PRICE

$6,750,000 USD

PRICE/SF

$266 USD /SF

# OF UNITS

18

PRICE/UNIT

$375,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Monarch

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2020

PARKING SPACES

54

LAND DETAILS

LAND ACRES

1.26 AC

LAND SF

54,886 SF

ZONING

R-5

APN/PARCEL ID

213-26-324

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.