377 N 4th Ave - Apartments FOR SALE


Phoenix, AZ 85003- Roosevelt Row
$2,500,000 USD
602-570-9442
377 N 4th Ave, Phoenix, AZ for Sale
$2,500,000 USD
Apartments - FOR SALE
1/1
null | Request Cap Rate

377 N 4th Ave
Phoenix, AZ 85003
Roosevelt Row


HIGHLIGHTS

  • Extensively Renovated Community with Best-in-Class Finish Levels (Over $50,000 per unit in Total Capex Costs)
  • Significant Mark-to-Market Opportunity in Downtown Phoenix
  • Unique Development Opportunity for 118 Proposed Units Under Existing Zoning Rights
  • The Offering Includes an Existing 2,250 SF Historic Home that can be Renovated
  • Dynamic Downtown Phoenix Location with Proximity to Core Employment Corridors
  • Excellent Nearby Amenities Including Park Central Mall and Downtown Phoenix

OVERVIEW

JLL is pleased to introduce Downtown Lofts, a 13-unit garden-style multifamily community located in a desirable Downtown Phoenix location that was completely rebuilt and repositioned in 2025. The property is made of block construction with built up foam roofs and is individually metered for electricity. The unit mix is comprised of 100% one-bedroom/one-bath floor plans that average nearly 630 square feet. 10 out of the 13 units were extensively renovated in 2025 and feature new teal shaker cabinetry with matte black hardware, quartz countertops, stainless steel appliances, in-suite washers/dryers, vinyl wood plank flooring, and tile shower surrounds. Exterior renovations include new roofs, HVAC systems, plumbing, electrical, hot water heaters, windows, and fresh paint, representing a total investment of approximately $700,000. The property is situated on approximately 0.40 acres and has minimal, low maintenance landscaping.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$305 USD /SF

# OF UNITS

13

PRICE/UNIT

$192,308

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Downtown Lofts

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1951

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,407 SF

ZONING

-

APN/PARCEL ID

111-41-063,111-41-064

ASK ABOUT THIS PROPERTY

602-570-9442

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602-570-9442

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