Investment Overview

Pinpointed in the heart of Tempe and less than a mile from U.S. News & World Report’s ‘Most Innovative School’ in the nation, Arizona State University (ASU), sits Casa Carmel (“the property”), a 20-unit apartment community located just south of the Rural Road and Broadway Road intersection. The property is positioned to take full advantage of the surrounding robust student population of Arizona State University and the expanding landscape of Tempe’s premier employment corridor. The city of Tempe has drafted off ASU’s high-powered academic engine to promote strategic investments and aid in job growth opportunities across companies such as State Farm, Amazon, and Carvana converting recent graduates into ambitious professionals. Tempe has become a powerhouse of employment and development with numerous new developments forthcoming along Tempe Town Lake and the historic Mill Avenue. This impressive growth coupled with its well-connected transit network and upbeat urban lifestyle offer one of the best living experiences in The Valley. Originally developed in 1960, Casa Carmel is dominated by 19 two-bedroom units and 1 one-bedroom unit covering an average of ±550 square feet. Future ownership will have the opportunity to renovate the remaining units to capitalize on associated renovation premiums already proven in the immediate area.