6043-6049 W Laurie Ln - Apartments FOR SALE


Glendale, AZ 85302
$2,600,000 USD
602-501-5855
6043-6049 W Laurie Ln, Glendale, AZ for Sale
$2,600,000 USD
Apartments - FOR SALE
1/22
null | Request Cap Rate

6043-6049 W Laurie Ln
Glendale, AZ 85302


HIGHLIGHTS

  • Recently renovated community with a full CapEx overhaul completed in 2023
  • 100% turn-key opportunity
  • High yielding asset with tremendous in-place operations
  • 100% occupied
  • Two-bedroom rents are over $100 below submarket competitors
  • Over 53% of the population within a 3-mile radius are renters vs homeowners

OVERVIEW

Laurie Lane is a fully renovated, turnkey, 8-unit, single-story community in the heart of Glendale, AZ—one of the fastest-growing cities in the region. Fueled by a booming economy, expanding infrastructure, and an influx of new businesses and residents, Glendale is undergoing unprecedented growth. Extensively upgraded in 2023, Laurie Lane offers a “like new” asset featuring two fourplexes on separate parcels. The unit mix consists of six one-bedroom and two two-bedroom apartments, averaging 698 square feet. The property showcases a lush, expansive courtyard between the two buildings, while each unit boasts a private enclosed outdoor space. Newly renovated interiors include stainless steel appliances, subway tile backsplashes, resurfaced countertops, new cabinetry, stackable washers and dryers, hardwood flooring, new blinds, crown molding, and upgraded hardware, fixtures, and paint. Currently 100% occupied, Laurie Lane is achieving an average in-place rent of $1,468. With strong cash flow and minimal maintenance requirements, this asset presents an exceptional investment opportunity.

FOR SALE DETAILS

PRICE

$2,600,000 USD

PRICE/SF

$466 USD /SF

# OF UNITS

8

PRICE/UNIT

$325,000

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Laurie Lane Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1958

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.46 AC

LAND SF

20,038 SF

ZONING

R4

APN/PARCEL ID

143-14-016A,143-14-016B

ASK ABOUT THIS PROPERTY

Winslow LeeNorthmarqMore Info
602-501-5855

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Winslow LeeNorthmarqMore Info
602-501-5855

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