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2012 W Orangewood Avenue - Franciscan Apartments, Phoenix, AZ

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2012 W Orangewood Avenue - Franciscan Apartments

Phoenix, AZ 85021 - Sunnyslope MF Submarket

Property Type:Multi-Family Number of Units:16 Status:Existing Year Built:1969
Stories:1 Building Size:15,250 SF Land Area:1.17 AC (50,965 SF)
For Sale Price:$1,400,000 Price/Unit:$87,500.00 Cap Rate:6.92 % GRM:-

Parking:1.97 Parking Spaces / 1,000 SF

Property Description: 16-UNIT APARTMENT COMPLEX

Sale Notes:
For access to the offering memorandum and detailed property information, please click on the property website link above & complete the electronic Confidentiality Agreement.

Rossmore is an attractive 16-unit single story garden-style apartment community located in a dynamic central Phoenix neighborhood. Built in 1969, the property is made of block construction with pitched roofs, and is individually metered for electricity. The property is situated on approximately 1.17 acres and is attractively landscaped with lush turf and mature shrubs creating a park-like setting including a large sparkling swimming pool.

The unit mix consists of predominately two-bedroom, two-bathroom floor plans that are spacious and well designed and average approximately 950 square feet. Interior unit features include individual washers and dryers in select units, fully appointed kitchens with electric appliances and oak cabinetry, wood vinyl flooring in select units, ceramic tile shower surrounds, ceiling fans, linen closets, private back patios, and individual private storage units.
Rossmore offers an investor the rare opportunity to acquire an attractive, single story garden-style apartment community located in a desirable central Phoenix submarket with stable cash flow and additional value-enhancement potential. Current ownership has achieved rental premiums up to $150 by installing wood vinyl flooring, new hardware and stackable washer/dryers, In the first quarter of 2016, the submarket rents averaged $0.98 PSF, a 4.26% increase year-over-year while vacancy decreased by 86 basis points over the same time period. Strong submarket fundamentals and continuing the moderate interior upgrades provides an investor with the opportunity to increase revenues.

Property tours are by appointment only.
Please contact Brian Smuckler or Jeff Seaman to schedule a property tour.

Brian Smuckler
(602) 735-5688

Jeff Seaman
(602) 735-5634

Derek Smigiel
(602) 735-5632

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