Multifamily

Apache Lofts

1617 E Apache Blvd, Tempe, AZ 85281

Listing Price: $7,970,000

Cap Rate
4.35%
Number of Units
62
Price/Unit
$128,548
Price/Gross SF
$289.40
Gross SF
27,540

Investment Overview

A P A C H E L O F T S is a 62-unit apartment community located southwest of the intersection of Apache Boulevard and McClintock Road offering outstanding mobility throughout the city of Tempe's thriving economic and academic landscape with expanded reach to Mesa's growing landscape. Located in the heart of north Tempe, residents have access to one of Arizona's most dynamic professional corridors featuring employers State Farm, Freedom Financial Network, JPMorgan Chase, Northern Trust, and ADP. Developed in 1968, Apache Lofts is comprised of a complementary mix of studio and one-bedroom floorplans averaging 478 square feet. Future ownership will have the opportunity to upgrade all 15 classic interiors with an associated renovation premium of $125 per month.

Investment Highlights

  • Located near ASU in North Tempe. Surrounded by new development.
  • Major renovation including replacement of major systems such as chiller lines and HVAC handlers as well as deep interior upgrading of 66% of unit interiors.
  • New ownership will have the opportunity to complete unit interior renovation program and capitalize on operational inefficiencies.

Exclusively Listed By

Listing Price: $7,970,000

Cap Rate
4.35%
Number of Units
62
Price/Unit
$128,548
Price/Gross SF
$289.40
Gross SF
27,540

Investment Highlights

  • Located near ASU in North Tempe. Surrounded by new development.
  • Major renovation including replacement of major systems such as chiller lines and HVAC handlers as well as deep interior upgrading of 66% of unit interiors.
  • New ownership will have the opportunity to complete unit interior renovation program and capitalize on operational inefficiencies.

Investment Overview

A P A C H E L O F T S is a 62-unit apartment community located southwest of the intersection of Apache Boulevard and McClintock Road offering outstanding mobility throughout the city of Tempe's thriving economic and academic landscape with expanded reach to Mesa's growing landscape. Located in the heart of north Tempe, residents have access to one of Arizona's most dynamic professional corridors featuring employers State Farm, Freedom Financial Network, JPMorgan Chase, Northern Trust, and ADP. Developed in 1968, Apache Lofts is comprised of a complementary mix of studio and one-bedroom floorplans averaging 478 square feet. Future ownership will have the opportunity to upgrade all 15 classic interiors with an associated renovation premium of $125 per month.

Exclusively Listed By

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