1501 Grand Ave - Apartments FOR SALE


Phoenix, AZ 85007- Grand
$7,259,000 USD
310-766-5954
1501 Grand Ave, Phoenix, AZ for Sale
$7,259,000 USD
Apartments - FOR SALE
1/18
null | 6.36% Cap Rate

1501 Grand Ave
Phoenix, AZ 85007
Grand


OVERVIEW

PORTFOLIO TOURS THIS WEEK: Phoenix, Thursday July 23 10:00 - 1501 Grand Avenue | 60 units 12:00 - 1780 W Missouri Avenue | 173 units 2:00 - 1711 W Bell Road | 150 units Tucson, Friday July 24 10:00 - 4098-4141 E 29th Street | 200 units 11:30 - 314 E Benson Highway | 50 units 1:00 - 1025 E Benson Highway | 136 units 2:30 - 5251 S Julian Drive | 175 units Keller Williams Arizona Realty is pleased to exclusively offer for sale Oasis on Grand, an Affordable Multifamily community ideally positioned along the revitalized Grand Avenue corridor, minutes from Downtown Phoenix and with immediate access to Interstates 10 and 17. The property benefits from its location within one of Phoenix's fastest-growing urban neighborhoods, surrounded by significant new residential development, major employment centers, Arizona State University's Downtown Campus, and an expanding collection of restaurants, galleries, and entertainment venues. Built in 1958, the stabilized and updated property consists of 21 studio and 39 one-bedroom apartment homes, along with two ground-floor retail storefronts. One of the retail spaces is occupied by Grand ArtHaus, an artist-run collective that operates as a shared studio and creative co-working space, further enhancing the property's connection to the vibrant Grand Avenue Arts District. This is an Affordable property with 43 units rent-restricted under LURA with the City of Phoenix.

FOR SALE DETAILS

PRICE

$7,259,000 USD

PRICE/SF

$171 USD /SF

# OF UNITS

60

PRICE/UNIT

$120,983

CAP RATE

6.36%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Oasis on Grand

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2013

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.12 AC

LAND SF

48,787 SF

ZONING

C-G

APN/PARCEL ID

111-16-091,111-16-092,111-16-093

ASK ABOUT THIS PROPERTY

Mark WitskenKeller Williams Arizona RealtyMore Info
310-766-5954

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Mark WitskenKeller Williams Arizona RealtyMore Info
310-766-5954

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