14001-14007 N Primrose St - Apartments FOR SALE


El Mirage, AZ 85335
$5,850,000 USD
602-320-8126
14001-14007 N Primrose St, El Mirage, AZ for Sale
$5,850,000 USD
Apartments - FOR SALE
1/24
null | 6.43% Cap Rate

14001-14007 N Primrose St
El Mirage, AZ 85335


HIGHLIGHTS

  • Over $30,000 per unit of capital improvements/renovations during the current hold period.
  • Unique single-level, low-density mid-sized property. All units equipped with oversized private front yards.
  • Located in the rapidly transforming North West Valley with proximity to TSMC's campus ($165 billion foreign investment).

OVERVIEW

Built in 1980 and renovated in 2022, West Edge at Thunderbird offers 32 units covering an average of 448 square feet - each complete with large private yards and in-suite laundry (select units). The property has seen interior and exterior renovations of just over $30,000 per unit in capital expenditures during the current hold. Future ownership will have the opportunity to upgrade 23 of the units to include in-suite laundry and benefit from future rent growth associated with the continued economic boom experienced in North West Phoenix.

FOR SALE DETAILS

PRICE

$5,850,000 USD

PRICE/SF

$177 USD /SF

# OF UNITS

32

PRICE/UNIT

$182,813

CAP RATE

6.43%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

West Edge at Thunderbird

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

PARKING SPACES

33

LAND DETAILS

LAND ACRES

1.06 AC

LAND SF

46,174 SF

ZONING

R-1A, El Mirage

APN/PARCEL ID

501-27-098,501-27-100,501-27-101,501-27-102,501-27-103,501-27-104

ASK ABOUT THIS PROPERTY

Paul BayMarcus & MillichapMore Info
602-320-8126

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Paul BayMarcus & MillichapMore Info
602-320-8126

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