3625 N 16th St - Apartments FOR SALE


Phoenix, AZ 85016- Midtown Phoenix
$5,725,000 USD
602-432-2793
3625 N 16th St, Phoenix, AZ for Sale
$5,725,000 USD
Apartments - FOR SALE
1/44
null | 6% Cap Rate

3625 N 16th St
Phoenix, AZ 85016
Midtown Phoenix


HIGHLIGHTS

  • Close to the Biltmore Fashion Park and Office Center
  • Professionally repositioned property with strong cash flow
  • Very secure units and courtyard
  • Room for immediate rent growth
  • Well-lighted, covered parking plus extra parking spaces

OVERVIEW

Located in the highly desirable central Phoenix, Playton Place was recently professionally repositioned as an amazing, very secure, condo-quality, turn-key apartment community – essentially brand new. Actual expenses are minimal and it’s always fully occupied providing consistent strong cash flow. Most of the units are large (947 sf avg) two-bedroom and every unit has new stainless-steel appliances, shaker-style cabinetry, dishwashers, and in-unit laundry. The main water line was replaced and new, fire sprinkler system offering enhanced safety was installed. All roofs are in great condition and the HVAC units are new. The manicured, landscaped courtyards are enclosed by an attractive, heavy-duty, locked security fence with coded lock entries plus each apartment has a keyless door entry.

FOR SALE DETAILS

PRICE

$5,725,000 USD

PRICE/SF

$279 USD /SF

# OF UNITS

23

PRICE/UNIT

$248,913

CAP RATE

6%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Playton Place

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

67

LAND DETAILS

LAND ACRES

1.38 AC

LAND SF

60,037 SF

ZONING

C-2

APN/PARCEL ID

119-30-063A

ASK ABOUT THIS PROPERTY

Rick KehmColdwell Banker CommercialMore Info
602-432-2793

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Rick KehmColdwell Banker CommercialMore Info
602-432-2793

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