2014 W Berridge Ln - Apartments FOR SALE


Phoenix, AZ 85015- North Phoenix
$4,495,000 USD
612-770-1717
2014 W Berridge Ln, Phoenix, AZ for Sale
$4,495,000 USD
Apartments - FOR SALE
1/37
null | 6.09% Cap Rate

2014 W Berridge Ln
Phoenix, AZ 85015
North Phoenix


HIGHLIGHTS

  • Central Phoenix gated community with strong rental demand
  • Recent capital improvements: landscaping, lighting, security, and exterior upgrades
  • Updated units with stainless appliances, tile bathrooms, wood flooring, and in-unit laundry

OVERVIEW

Signature 18 is a 100% occupied, gated 18-unit apartment community strategically located in the heart of Central Phoenix. The asset delivers immediate cash flow with a strong 7.04% in-place cap rate and offers investors a projected 6.08% pro forma cap rate upon acquisition. The property's central infill location provides exceptional access to Abrazo Central Campus, Christown Spectrum Mall, major employment centers, public transit, and key transportation corridors, making it a compelling investment opportunity in one of Phoenix's most established rental submarkets. Under current ownership, the property has undergone extensive improvements including new desert landscaping, repaved parking areas, refreshed exterior paint and trim, modern LED motion-sensing lighting, upgraded security cameras, and newly installed modern gate locks. Operational upgrades include roof resealing with new elastomeric coating and pool pump enhancements for long-term efficiency. Interior renovations feature updated kitchens with stainless steel appliances, contemporary tile bathrooms, wood flooring, built-in closets, and in-unit washers/dryers in select units. These improvements increase tenant appeal and support continued rent growth. Signature 18 offers stable cash flow, minimal deferred maintenance, and long-term upside through continued interior improvements and market rent optimization. A turn-key multifamily asset in a high-demand Phoenix submarket. Full OM and financials available upon request.

FOR SALE DETAILS

PRICE

$4,495,000 USD

PRICE/SF

$296 USD /SF

# OF UNITS

18

PRICE/UNIT

$249,722

CAP RATE

6.09%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Signature 18 Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

26

LAND DETAILS

LAND ACRES

0.63 AC

LAND SF

27,443 SF

ZONING

R-4

APN/PARCEL ID

156-13-086A

ASK ABOUT THIS PROPERTY

Collin CorsmeierHOME SMART REAL ESTATEMore Info
612-770-1717

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

Collin CorsmeierHOME SMART REAL ESTATEMore Info
612-770-1717

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