Multifamily
The Shorewood Apartments
3601 N 5th Ave, Phoenix, AZ 85013
Listing Price: $5,500,000
Investment Overview
Marcus & Millichap is pleased to announce the opportunity to acquire Shorewood
Apartment Homes – a completely renovated apartment community that boasts mid-century art deco style architecture modernized to fit the young professional tenant base the property now attracts. Given its location in the sought after Midtown Central Phoenix Corridor and scope of remodel, coupled with current stabilized rental rates due to the inclusion of full-size washers and dryers in all units, Shorewood provides a remarkable opportunity for continued long-term value. Since 2021, over $380,000 has been spent on new flooring, kitchens, bathrooms, front and interior courtyard landscape, roof work and multiple new HVAC units.
The Shorewood Apartments
Investment Highlights
- ROBUST POPULATION GROWTH Maricopa County, encompassing most of Phoenix, had the largest population surge in the U.S. from 2020 to 2023, with over 165,000 people added.
- ADVANCED MANUFACTURING BASE Intel Corp. and Taiwan Semiconductor Manufacturing Company, among other electronics producers, are expanding Phoenix operations, attracting additional suppliers and service
- MOUNTING TOURISM INDUSTRY Warm winters and amenities, including golf courses and resorts, draw vacationers. Nightly hotel booking volumes reached a record high in 2023.
Exclusively Listed By
Listing Price: $5,500,000
Investment Highlights
- ROBUST POPULATION GROWTH Maricopa County, encompassing most of Phoenix, had the largest population surge in the U.S. from 2020 to 2023, with over 165,000 people added.
- ADVANCED MANUFACTURING BASE Intel Corp. and Taiwan Semiconductor Manufacturing Company, among other electronics producers, are expanding Phoenix operations, attracting additional suppliers and service
- MOUNTING TOURISM INDUSTRY Warm winters and amenities, including golf courses and resorts, draw vacationers. Nightly hotel booking volumes reached a record high in 2023.
Investment Overview
Marcus & Millichap is pleased to announce the opportunity to acquire Shorewood Apartment Homes – a completely renovated apartment community that boasts mid-century art deco style architecture modernized to fit the young professional tenant base the property now attracts. Given its location in the sought after Midtown Central Phoenix Corridor and scope of remodel, coupled with current stabilized rental rates due to the inclusion of full-size washers and dryers in all units, Shorewood provides a remarkable opportunity for continued long-term value. Since 2021, over $380,000 has been spent on new flooring, kitchens, bathrooms, front and interior courtyard landscape, roof work and multiple new HVAC units.
Exclusively Listed By
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