1431 N 35th St - Apartments FOR SALE


Phoenix, AZ 85008- East Side
$1,300,000 USD
602-435-3636
1431 N 35th St, Phoenix, AZ for Sale
$1,300,000 USD
Apartments - FOR SALE
1/14
null | 5.65% Cap Rate

1431 N 35th St
Phoenix, AZ 85008
East Side


HIGHLIGHTS

  • New quartz counter tops, stainless steel appliances, white shaker cabinets, tile backsplash, in-suite washers & dryers, vinyl plank flooring
  • Located south of the Biltmore Fashion Park, the Financial District, minutes from major retail shopping centers
  • New plumbing, Electric, Asphalt, and 2 new HVAC units
  • New roof on one building
  • Ability to develop 4 additional units to turn property to 10-units

OVERVIEW

CBRE is pleased to announce the exclusive listing of Six on 35th, a 6-unit multifamily opportunity in East Phoenix. Built in 1960 and fully renovated in 2023, the property is made of block construction with pitched shingle roofs and is individually metered for electricity with individual hot water heaters. Six on 35th is located south of the Biltmore Fashion Park, the Financial District, minutes from major retail shopping centers containing Walmart, Frys Grocery, Target and Costco only 3 miles from Phoenix Sky Harbor Airport, and just minutes from Loop 202, Interstate-10, and State route 51 freeways, providing access to major shopping, entertainment districts and employment corridors including downtown Tempe, Scottsdale and downtown Phoenix. Renovations include new quartz counter tops, stainless steel appliances, white shaker cabinets, tile backsplash, in-suite washers & dryers, vinyl plank flooring, new bathroom vanities & tile backsplash, modernized exterior paint scheme, all new plumbing & electrical, 2 new HVAC units, and all new dual pane windows. In addition to the renovations completed, there is still value-add upside as an investor would have the option build an additional 4 units on the property and increase the cash flow. Six on 35th provides an investor the unique opportunity to own a fully stabilized asset in one of the most sought-after locations in the metro area.

FOR SALE DETAILS

PRICE

$1,300,000 USD

PRICE/SF

$382 USD /SF

# OF UNITS

6

PRICE/UNIT

$216,667

CAP RATE

5.65%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Six on 35th

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.42 AC

LAND SF

18,295 SF

ZONING

-

APN/PARCEL ID

121-03-011

ASK ABOUT THIS PROPERTY

602-435-3636

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602-435-3636

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