3024 N 24th St - Apartments FOR SALE


Phoenix, AZ 85016
$9,503,000 USD
602-435-3636
3024 N 24th St, Phoenix, AZ for Sale
$9,503,000 USD
Apartments - FOR SALE
1/19
null | 5.5% Cap Rate

3024 N 24th St
Phoenix, AZ 85016


HIGHLIGHTS

  • Sparkling Pool
  • Frontage along 24th Street
  • Gated Community
  • Onsite Laundry Facility
  • Low Maintenance Desert Landscaping
  • Select units Renovated in 2017

OVERVIEW

The View on 24th is a two-story apartment community built in 1967, renovated in 2017 and is comprised of 50 units with 64% studios and 36% one-bedroom units. Built of block construction with flat roofs the property is conveniently located at 3024 N. 24th Street in Phoenix, Arizona. The property has frontage along 24th Street, a major north-south thoroughfare running through Central Phoenix with a traffic count of 28,705 vehicles per day that pass the building. There are several schools within one mile of the property including William T. Machan Elementary, Phoenix Christian School, and Camelback High School. There are several nearby grocery store options including Fry’s Food at 30th Street and Thomas Road, Sprouts Farmers Market at 28th Street and Indian School Road and Whole Foods Market at 20th Street and Highland. Nearby parks include Coronado Park, two miles southwest of The View on 24th, Perry Park less than one mile east of the property and Los Olivos Park one mile northeast of the property. The property is located within a mile of Arizona State Route 51 and 1.3 miles to Interstate 10, both major freeways providing access into downtown Phoenix, Tempe, Mesa and Chandler. Also in close proximity is Sky Harbor Airport which is a 10-minute drive from the property. Nearby shopping includes the Macy’s and Saks Fifth Avenue anchored Biltmore Fashion Park, located less than three miles north of the property. Additionally, St. Luke’s Medical Center is located two miles southwest of the property, Phoenix Children’s Hospital is a mile to the west. Nearby Universities include the Downtown Campus of Arizona State University, located at Central Avenue and Filmore and Grand Canyon University located at 35th Ave and Camelback.

FOR SALE DETAILS

PRICE

$9,503,000 USD

PRICE/SF

$365 USD /SF

# OF UNITS

50

PRICE/UNIT

$190,060

CAP RATE

5.5%

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The View on 24th

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1967

PARKING SPACES

42

LAND DETAILS

LAND ACRES

1.01 AC

LAND SF

43,996 SF

ZONING

C-2

APN/PARCEL ID

119-17-047

ASK ABOUT THIS PROPERTY

602-435-3636

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602-435-3636

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