2539-2547 N 48th St - Apartments FOR SALE


Phoenix, AZ 85008
$5,500,000 USD
602-975-0805
2539-2547 N 48th St, Phoenix, AZ for Sale
$5,500,000 USD
Apartments - FOR SALE
1/4
null | 5.38% Cap Rate

2539-2547 N 48th St
Phoenix, AZ 85008


OVERVIEW

Matthews Real Estate Investment Services is pleased to exclusively offer Aero Phoenix, a distinctive apartment community in Arcadia. This 21-unit property, built in 1985, offers a blend of modern amenities and attractive finishes that appeal to renters seeking both style and convenience. Each unit is outfitted with quartz countertops, new shaker cabinets, stainless steel appliances, and wood-style flooring. Residents benefit from in-unit laundry with full-size washers and dryers, tile showers, garbage disposals, and central air conditioning and heating. The property also features covered parking and a common area complete with a pergola and barbecue, offering a welcoming outdoor space for relaxation and social gatherings. The property consists of a mix of (1) studio unit at 180 square feet and (20) one-bedroom, one-bathroom units, each at 700 square feet, totaling 14,180 square feet of net rentable area. With an average current rent of $1,345 per unit, this investment presents a solid opportunity for steady cash flow in a strong rental market, offering investors an appealing balance of size, price, and rent potential. Located in a highly desirable area, the property is close to a range of popular dining destinations such as OHSO Brewery + Distillery, Doughbird, and Lou Malnati’s Pizzeria. Residents also enjoy proximity to recreational and retail amenities like Camelback Mountain, Papago Golf Club, and Arcadia Crossing Shopping Center, home to major retailers like Costco and Target. With easy access to top-rated schools, including Ingleside Middle School and Arcadia High School, the property is well-suited for both families and professionals, making it a prime asset in an attractive market.

FOR SALE DETAILS

PRICE

$5,500,000 USD

PRICE/SF

$367 USD /SF

# OF UNITS

21

PRICE/UNIT

$261,905

CAP RATE

5.38%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Aero

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1985

PARKING SPACES

27

LAND DETAILS

LAND ACRES

0.58 AC

LAND SF

25,313 SF

ZONING

R-4, Phoenix

APN/PARCEL ID

126-17-021A,126-17-021C

ASK ABOUT THIS PROPERTY

Kyle InmanMatthews Real Estate Investment ServicesMore Info
602-975-0805

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Kyle InmanMatthews Real Estate Investment ServicesMore Info
602-975-0805

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