302 E Monte Vista - Apartments FOR SALE


Phoenix, AZ 85004- Encanto
$13,250,000 USD
602-435-3636
302 E Monte Vista, Phoenix, AZ for Sale
$13,250,000 USD
Apartments - FOR SALE
1/38
null | 5.81% Cap Rate

302 E Monte Vista
Phoenix, AZ 85004
Encanto


HIGHLIGHTS

  • Partially Renovated Asset with Upside Potential
  • Individual HVAC Units
  • Surrounded by Million-Dollar Historic Homes
  • Strong in Place Cash Flow
  • Desirable Community Amenities with a Pool, Game Area, Onsite Office, Laundry Room, Gym and Gated Entry
  • Unbeatable Central Midtown Phoenix Location with Walking Distance to the Metro Light Rail

OVERVIEW

CBRE is pleased to announce the exclusive offering of MV on 3rd, a 60-unit multifamily community, located just off 3rd Street and Monte Vista Road. MV on 3rd represents an exceptional opportunity to acquire a partially renovated asset in the heart of Phoenix’s highly coveted Midtown Historic District. Blending historic neighborhood charm with urban convenience, the property offers both in-place cash flow and clear value-add potential through the continued renovation of classic units and strategic capital improvements. Positioned within walking distance to major employment centers, cultural institutions, and the light rail corridor, the asset is ideally suited to capture strong rental demand from lifestyle-oriented tenants seeking unique, well-located housing in one of Phoenix’s most vibrant and architecturally significant neighborhoods. With 38 of 60 units already renovated, a proven value-add strategy in place, and a highly desirable amenity set, this asset is a compelling core-plus or value-add investment surrounded by some of Valley’s most sought-after residential real estate.

FOR SALE DETAILS

PRICE

$13,250,000 USD

PRICE/SF

$392 USD /SF

# OF UNITS

60

PRICE/UNIT

$220,833

CAP RATE

5.81%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

MV on 3rd

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1972

PARKING SPACES

85

LAND DETAILS

LAND ACRES

1.88 AC

LAND SF

81,949 SF

ZONING

PAD-14

APN/PARCEL ID

118-53-071,118-53-072,118-53-073,118-53-074

ASK ABOUT THIS PROPERTY

602-435-3636

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602-435-3636

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