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Multifamily

Augusta Cove

2820 W Augusta Ave, Phoenix, AZ 85051

Listing Price: $7,875,000

Cap Rate
6.80%
Number of Units
45
GRM
12.47
Price/Unit
$175,000
Price/Gross SF
$220.28
Gross SF
35,750

Investment Overview

Centrally located west of the I-17 Freeway immediately south of Central Phoenix's largest major employment corridor is a 45-unit apartment community just south of the Northern Avenue and 29th Avenue intersection, surrounded by the growing lifestyle opportunities of a gentrifying area and the natural beauty of the North Mountain Preserve. The adjacent city-endorsed North Mountain Redevelopment Area, a defined area within the Phoenix MSA currently undergoing transformative gentrification efforts, provides assistance to residents and business owners in taking advantage of funding mechanisms designed to improve the region through advancement of underutilized properties, expanded infrastructure, and the creation of additional employment opportunities with current capital investment of $179M, and lead by a revitalization of the iconic Metrocenter Mall. Ample employment opportunities are found through the nearby I-17 Employment Corridor, boasting more than 43,000 employees across ±1,200 businesses, featuring employers such as BlueCross BlueShield, Wells Fargo, Waste Management.

Investment Highlights

  • Immediately south of Central Phoenix's largest major employment corridor
  • I-17 Employment Corridor, boasting more than 43,000 employees across ±1,200 businesses, featuring employers such as BlueCross BlueShield, Wells Fargo, Waste Management.
  • Diverse blend of studios (±4%), one-bedroom (±29%), two-bedroom (±63%), and three-bedroom (±4%) units

Exclusively Listed By

Financing By

Multifamily

Augusta Cove

Listing Price: $7,875,000

Cap Rate
6.80%
Number of Units
45
GRM
12.47
Price/Unit
$175,000
Price/Gross SF
$220.28
Gross SF
35,750

Investment Highlights

  • Immediately south of Central Phoenix's largest major employment corridor
  • I-17 Employment Corridor, boasting more than 43,000 employees across ±1,200 businesses, featuring employers such as BlueCross BlueShield, Wells Fargo, Waste Management.
  • Diverse blend of studios (±4%), one-bedroom (±29%), two-bedroom (±63%), and three-bedroom (±4%) units

Investment Overview

Centrally located west of the I-17 Freeway immediately south of Central Phoenix's largest major employment corridor is a 45-unit apartment community just south of the Northern Avenue and 29th Avenue intersection, surrounded by the growing lifestyle opportunities of a gentrifying area and the natural beauty of the North Mountain Preserve. The adjacent city-endorsed North Mountain Redevelopment Area, a defined area within the Phoenix MSA currently undergoing transformative gentrification efforts, provides assistance to residents and business owners in taking advantage of funding mechanisms designed to improve the region through advancement of underutilized properties, expanded infrastructure, and the creation of additional employment opportunities with current capital investment of $179M, and lead by a revitalization of the iconic Metrocenter Mall. Ample employment opportunities are found through the nearby I-17 Employment Corridor, boasting more than 43,000 employees across ±1,200 businesses, featuring employers such as BlueCross BlueShield, Wells Fargo, Waste Management.

Exclusively Listed By

Financing By

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