1835 N 51st St - Apartments FOR SALE


Phoenix, AZ 85008- Papago
$5,200,000 USD
480-264-0668
1835 N 51st St, Phoenix, AZ for Sale
$5,200,000 USD
Apartments - FOR SALE
1/10
null | Request Cap Rate

1835 N 51st St
Phoenix, AZ 85008
Papago


HIGHLIGHTS

  • Washer /Dryer hookups
  • Covered Parking
  • Patios
  • Tile Flooring

OVERVIEW

Civic is pleased to announce the opportunity to acquire Papago Palms West Apartments, a 25-unit value-add, garden style community located in Phoenix Arizona. Under continuous ownership since 2011, Papago Palms consists of twenty-five units built in 1994. Located just north of McDowell Road and west of 52nd St, Papago Palms West offers the Value-add investor a well-positioned investment in a bedroom community, that through a properly conceived operational/improvement program, can take advantage of the below market rates currently in place. Renovated properties can expect rental premiums of between $200-$400 per unit depending on the level of improvements made and supplying washers & dryers. Since the property consists of larger two bedroom units (88%) with washer/dryer hook ups; it offers a high degree of flexibility to the investor for both repositioning and exiting the investment. New Elastomeric Roof Coating being installed June 2025. (5-Yr Transferable Warranty)

FOR SALE DETAILS

PRICE

$5,200,000 USD

PRICE/SF

$224 USD /SF

# OF UNITS

25

PRICE/UNIT

$208,000

CAP RATE

Request Cap Rate

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Papago Palms West

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1994

PARKING SPACES

110

LAND DETAILS

LAND ACRES

0.48 AC

LAND SF

20,909 SF

ZONING

M-M

APN/PARCEL ID

126-20-152

ASK ABOUT THIS PROPERTY

Tom KufflerCivic Asset ManagementMore Info
480-264-0668

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Tom KufflerCivic Asset ManagementMore Info
480-264-0668

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