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.