5820 W Claremont St - Apartments FOR SALE


Glendale, AZ 85301- Westside
$5,999,999 USD
623-238-3923
5820 W Claremont St, Glendale, AZ for Sale
$5,999,999 USD
Apartments - FOR SALE
1/24
null | 6.46% Cap Rate

5820 W Claremont St
Glendale, AZ 85301
Westside


HIGHLIGHTS

  • Large One and Two Bedroom Layouts, 75% of Units Have Private Yards
  • Individually Metered Electricity
  • On-Site Laundry Room and Leasing Office
  • Operational Value-Add Opportunity
  • 100% of Units Renovated in Past 24 Months

OVERVIEW

The Claremont Apartments are a well-located 36-unit asset at 5820 W Claremont Street, in close proximity to historic Downtown Glendale. The property consists of 6 total buildings constructed in 1975 with a unit mix of (24) large 1bed-1bath units, (12) 2bed-2bath units and an average size of 780 SF. Over 75% of the units have private yards attached and the property has a leasing office and community laundry facility on-site as well. With 100% of units having been renovated in the past 24 months, the asset now features a unique operational value-add through strategic rent increases to market levels, implementation of RUBS, reduction of controllable operating expenses and improving management efficiencies to drive increased occupancy and income.

FOR SALE DETAILS

PRICE

$5,999,999 USD

PRICE/SF

$214 USD /SF

# OF UNITS

36

PRICE/UNIT

$166,667

CAP RATE

6.46%

% LEASED

89%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Claremont Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1975

PARKING SPACES

52

LAND DETAILS

LAND ACRES

1.75 AC

LAND SF

76,047 SF

ZONING

R-4, Glendale

APN/PARCEL ID

146-09-028B

ASK ABOUT THIS PROPERTY

Carter MarksORION Investment Real EstateMore Info
623-238-3923

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Carter MarksORION Investment Real EstateMore Info
623-238-3923

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