37 W Medlock Dr - Apartments FOR SALE


Phoenix, AZ 85013
$3,540,000 USD
602-570-9442
37 W Medlock Dr, Phoenix, AZ for Sale
$3,540,000 USD
Apartments - FOR SALE
1/12
null | Request Cap Rate

37 W Medlock Dr
Phoenix, AZ 85013


HIGHLIGHTS

  • Boutique Single-Story Community with True Pride of Ownership
  • Extensively Renovated with Capital Improvements Totaling over $600k ($46,000+/Unit).
  • Best-in-Class Finishes Including In-Suite Washer/Dryers, Upgraded Electrical, Plumbing, HVAC’s and Hot Water Heaters
  • Majority Two-Bedroom Floor Plans that Average 900 Square Feet
  • Significant Rent Versus Own Disparity Fueling Increased Renter Demand
  • Premiere North Central Location

OVERVIEW

LL is pleased to introduce Medlock Place, a premier 13-unit extensively renovated boutique apartment community located in a vibrant Uptown neighborhood in the heart of Phoenix. Current ownership has extensively renovated and repositioned the community with capital improvements totaling over $600,000 ($46,000+ per unit). Interior units feature best-in-class finishes and attract high quality residents. The property has an excellent unit mix with 77% two-bedroom floor plans that average approximately 900 square feet. Medlock Place enjoys a prime location in North Central Phoenix, offering residents unparalleled access to a dynamic and urban lifestyle. Situated near the highly anticipated $1 billion Park Central Mall Redevelopment and the esteemed $100 million Creighton University Health Sciences Campus, residents enjoy convenience and a host of amenities nearby. The property’s prime positioning has attracted a diverse range of tenants, resulting in its distinguished performance.

FOR SALE DETAILS

PRICE

$3,540,000 USD

PRICE/SF

$352 USD /SF

# OF UNITS

13

PRICE/UNIT

$272,308

CAP RATE

Request Cap Rate

% LEASED

98%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Medlock Place

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1959

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,166 SF

ZONING

R-3, Phoenix

APN/PARCEL ID

162-23-084

ASK ABOUT THIS PROPERTY

602-570-9442

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602-570-9442

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