3102 E Paradise Ln - Apartments FOR SALE


Phoenix, AZ 85032- Paradise Valley North
$4,900,000 USD
602-714-1283
3102 E Paradise Ln, Phoenix, AZ for Sale
$4,900,000 USD
Apartments - FOR SALE
1/5
null | Request Cap Rate

3102 E Paradise Ln
Phoenix, AZ 85032
Paradise Valley North


HIGHLIGHTS

  • 28 Total Units, Completed in 1985
  • All 2-Bedroom Unit Types (2-Bedroom / 1.5-Bathroom (71.4%) & 2-Bedroom / 2-Bathroom (28.6%), 736 Average Square Footage
  • Individually Metered for Electricity & Individual HVAC's / Hot Water Heaters
  • Value-Add Opportunity (Only 10 Units With Washer / Dryer Hook-ups & Appliances)
  • Long-Term Ownership Since 2014
  • Offered All Cash / New Loan

OVERVIEW

Paradise Arbor Apartments is a 28-unit garden-style apartment community located in the Northeast submarket of Phoenix, AZ. Situated on East Paradise Lane midway between East Greenway Road and Bell Road, residents enjoy direct access to all areas of the Phoenix Valley by way of the Piestewa Freeway (State Route 51) and the Pima Freeway (Loop 101). In addition, there are numerous dining and entertainment options in close proximity to the property, including Desert Ridge Marketplace, one of the most popular retail power centers in the Phoenix Metro with 1.2 million square feet of retail space and the Kierland Commons, an upscale lifestyle center featuring more than 70 high-end specialty stores and restaurants on 437,000 square feet in an upscale main-street format. Built in 1985, the property is constructed of a combination wood frame / masonry with pitched composition shingle roofs. The unit mix consists of 20 two-bedroom / one-and-a-half bath units and 8 two-bedroom / two-bath units with a weighted average of 736 square feet. Each unit is individually metered for electricity and features individual hot water heaters and HVAC’s. Interior amenities include air conditioning / heating, and kitchens fully equipped with dishwasher, garbage disposal, range / oven, and refrigerator. Select units offer in-unit washer / dryer and patio or private backyards. The community also provides its residents with a swimming pool, one laundry facility, a barbeque / picnic area, and open / covered parking. Significant nearby employers include the Mayo Clinic, Paradise Valley Community College, Abrazo Scottsdale Campus, Deer Valley Airport / Airpark, Farmers Insurance, American Express, USAA, Discover, and PetSmart.

FOR SALE DETAILS

PRICE

$4,900,000 USD

PRICE/SF

$117 USD /SF

# OF UNITS

28

PRICE/UNIT

$175,000

CAP RATE

Request Cap Rate

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Paradise Arbor

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1985

PARKING SPACES

85

LAND DETAILS

LAND ACRES

0.98 AC

LAND SF

42,689 SF

ZONING

-

APN/PARCEL ID

214-31-024

ASK ABOUT THIS PROPERTY

Alon ShnitzerABI MultifamilyMore Info
602-714-1283

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Alon ShnitzerABI MultifamilyMore Info
602-714-1283

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