Skip to main content

Multifamily

Desert Green

16401 N 31st St, Phoenix, AZ 85032

Listing Price: $3,500,000

Cap Rate
2.78%
Number of Units
16
Price/Unit
$218,750
Price/Gross SF
$312.50
Gross SF
11,200

Investment Overview

Advantageously placed just west of State Route 51, Desert Green (“the property”) is a 16-unit apartment community located at the intersection of 31st St and Grandview Road deep inside the expanding Northeast Phoenix submarket. Such near proximity to a major transportation artery, such as State Route 51, gifts residents of the property direct access to simple passage within desirable commute times to nearly any destination across The Valley. Included in those nearby destinations are some of the largest employment corridors in Arizona. The I-17 / Deer Valley and Scottsdale Airpark employment corridors are reachable within a 10-minute drive, and the Biltmore employment district is less than 15 minutes away. In addition to powerful job opportunities, the surrounding landscape is also flush with countless dining, shopping, and entertainment spots. Desert Ridge, Scottsdale Quarter, and the Biltmore Area, each hold extremely high sought after nighttime experiences, including restaurants, bars, and retail stores. Built in 1981, Desert Green is entirely comprised of two-bedroom floorplans covering 680 square feet, and all 16 units are being offered in their classic condition. This presents future ownership with the enviable opportunity to upgrade the interiors of every unit on the property to capitalize on the $300 rental premium available for capture based on achieved rents by similar properties in the submarket.

Investment Highlights

  • 100% two-bedroom floorplans
  • All units have private back patios with individual washer/dryers. All unit interiors are classic.
  • Located in a rapidly improving North Phoenix neighborhood with immediate access to major retail, Paradise Valley Community College and State Route 51.

Exclusively Listed By

Financing By

Multifamily

Desert Green

Listing Price: $3,500,000

Cap Rate
2.78%
Number of Units
16
Price/Unit
$218,750
Price/Gross SF
$312.50
Gross SF
11,200

Investment Highlights

  • 100% two-bedroom floorplans
  • All units have private back patios with individual washer/dryers. All unit interiors are classic.
  • Located in a rapidly improving North Phoenix neighborhood with immediate access to major retail, Paradise Valley Community College and State Route 51.

Investment Overview

Advantageously placed just west of State Route 51, Desert Green (“the property”) is a 16-unit apartment community located at the intersection of 31st St and Grandview Road deep inside the expanding Northeast Phoenix submarket. Such near proximity to a major transportation artery, such as State Route 51, gifts residents of the property direct access to simple passage within desirable commute times to nearly any destination across The Valley. Included in those nearby destinations are some of the largest employment corridors in Arizona. The I-17 / Deer Valley and Scottsdale Airpark employment corridors are reachable within a 10-minute drive, and the Biltmore employment district is less than 15 minutes away. In addition to powerful job opportunities, the surrounding landscape is also flush with countless dining, shopping, and entertainment spots. Desert Ridge, Scottsdale Quarter, and the Biltmore Area, each hold extremely high sought after nighttime experiences, including restaurants, bars, and retail stores. Built in 1981, Desert Green is entirely comprised of two-bedroom floorplans covering 680 square feet, and all 16 units are being offered in their classic condition. This presents future ownership with the enviable opportunity to upgrade the interiors of every unit on the property to capitalize on the $300 rental premium available for capture based on achieved rents by similar properties in the submarket.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower