320 Lee Ave - Apartments FOR SALE


Bullhead City, AZ 86429
$8,300,000 USD
602-687-6782
320 Lee Ave, Bullhead City, AZ for Sale
$8,300,000 USD
Apartments - FOR SALE
1/20
null | 7.5% Cap Rate

320 Lee Ave
Bullhead City, AZ 86429


OVERVIEW

Marcus & Millichap is pleased to announce the opportunity to acquire Sunrise Suites, 79 units located in the vibrant, family oriented community of Bullhead City, AZ. Situated on the east bank of the Colorado River, near the juncture of Arizona, California and Nevada, Bullhead City offers a high quality of life with its affordable cost of living and serves as the economic and retail hub of Mohave County and Clark County where Laughlin, NV is located. With 300 sunny days a year, approximately 2,000,000 visitors and tourists frequent Laughlin (just 5 minutes west) with its resort/gaming industry, and the Colorado River with its area water sports, golf and fishing. The winter visitor activity in Bullhead City is also a growing phenomenon. Sunrise Suites offers its tenants an affordable, attractive, quiet and simple place to live. The unit mix consists of large furnished studio, one bedroom and two bedroom floorplans with all utility costs included in the rent. The three story building also offers a dedicated leasing office adjacent to a large workout room and a convenient laundry room. There is also a refreshing swimming pool for tenants to enjoy. Sunrise Suites offers a buyer the ability to invest in a very stable, low priced building in an extremely tight rental market. Please arrange all property tours through the Listing Agent.

FOR SALE DETAILS

PRICE

$8,300,000 USD

PRICE/SF

$104 USD /SF

# OF UNITS

79

PRICE/UNIT

$105,063

CAP RATE

7.5%

% LEASED

85%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sunrise Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1984

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.49 AC

LAND SF

108,532 SF

ZONING

-

APN/PARCEL ID

214-06-103

ASK ABOUT THIS PROPERTY

Rich ButlerButler Apartment GroupMore Info
602-687-6782

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Rich ButlerButler Apartment GroupMore Info
602-687-6782

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