602-687-6768
2185 E Howe Ave, Tempe, AZ for Sale
Apartments - FOR SALE
1/33
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2185 E Howe Ave
Tempe, AZ 85281
Apache


OVERVIEW

Pinpointed just off one of the most significant transportation thoroughfares in The Valley, to the backdrop of the ultra-dynamic Arizona State University, is The Howe (“the property”), a newly developed 30-unit multifamily property boasting well-oversized 2- and 3-bedroom floorplans complete with premium interior finishes. Built in two phases completed in 2020 and 2024, the property is primely positioned to take full advantage of the robust student population sprouting from Arizona State University, as well as the expanding young professional landscape overcoming the North Tempe skyline along Tempe Town Lake, both less than three miles away. Lack of similar boutique, garden-style product within a submarket thriving from all angles makes The Howe a rare acquisition opportunity. Embedded in the North Tempe submarket comprised of ASU students, as well as young professionals, The Howe’s 2- and 3-bedroom floorplans offer more space than majority of competing product with unit square footages ranging from 1,320 to 1,595. The weighted average rent per square foot for comparable 2-bedroom and 3-bedroom units in the immediate area are 82% and 60% higher, respectively, resulting in a remarkable opportunity for new ownership to immediately increase rental income.

FOR SALE DETAILS

PRICE

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# OF UNITS

30

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Howe Apartments

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2020

PARKING SPACES

35

LAND DETAILS

LAND ACRES

0.99 AC

LAND SF

43,081 SF

ZONING

R-3

APN/PARCEL ID

132-72-037A

ASK ABOUT THIS PROPERTY

Adam SaylorMarcus & MillichapMore Info
602-687-6768

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Adam SaylorMarcus & MillichapMore Info
602-687-6768

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