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Multifamily

Colter

325-405 W Colter St, Phoenix, AZ 85013

Listing Price: $2,200,000

Cap Rate
3.47%
Number of Units
8
Price/Unit
$275,000
Price/Gross SF
$323.53
Gross SF
6,800

Investment Overview

C O LT E R is a eight-unit apartment community located northwest of the intersection of Central Avenue and Camelback Road, one-half mile from a Valley METRO Light Rail station, offering outstanding connectivity to the growing lifestyle and economic opportunities of Midtown & Downtown Phoenix. Positioned near the northern boundary of Midtown Phoenix, Colter has access to approximately ±171,000 employees housed at companies such as Freeport McMoRan, Bank of America, and IBM Corporation among others as well as a number of award-winning medical centers including Dignity Health and Banner Health-led facilities. The property's unparalleled location is greatly enhanced by proximity to several incoming developments, including The Central Park, Creighton Medical School, and Astra Phoenix, which will impact the economic and academic trajectory of this innovative region immensely. Additionally, Colter maintains walkability to several nearby dining hotspots, such as Windsor and Postino, as well as Uptown Plaza, a collection of local favorite retail and dining anchored by AJ's Fine Foods. Developed in 1961, Colter is comprised of 100% two-bedroom floorplans - all units averaging 850 square feet. Future ownership will have the opportunity to upgrade 2 classic interiors with an associated renovation premium of $250 per month.

Investment Highlights

  • Located in the coveted Medlock Historic District residential neighborhood in the heart of North Central Phoenix.
  • 6 of 8 units have been lightly renovated. Remaining upside and rationale to further renovate to a Gold|Platinum level.
  • All 2 bedroom floorplans.

Exclusively Listed By

Listing Price: $2,200,000

Cap Rate
3.47%
Number of Units
8
Price/Unit
$275,000
Price/Gross SF
$323.53
Gross SF
6,800

Investment Highlights

  • Located in the coveted Medlock Historic District residential neighborhood in the heart of North Central Phoenix.
  • 6 of 8 units have been lightly renovated. Remaining upside and rationale to further renovate to a Gold|Platinum level.
  • All 2 bedroom floorplans.

Investment Overview

C O LT E R is a eight-unit apartment community located northwest of the intersection of Central Avenue and Camelback Road, one-half mile from a Valley METRO Light Rail station, offering outstanding connectivity to the growing lifestyle and economic opportunities of Midtown & Downtown Phoenix. Positioned near the northern boundary of Midtown Phoenix, Colter has access to approximately ±171,000 employees housed at companies such as Freeport McMoRan, Bank of America, and IBM Corporation among others as well as a number of award-winning medical centers including Dignity Health and Banner Health-led facilities. The property's unparalleled location is greatly enhanced by proximity to several incoming developments, including The Central Park, Creighton Medical School, and Astra Phoenix, which will impact the economic and academic trajectory of this innovative region immensely. Additionally, Colter maintains walkability to several nearby dining hotspots, such as Windsor and Postino, as well as Uptown Plaza, a collection of local favorite retail and dining anchored by AJ's Fine Foods. Developed in 1961, Colter is comprised of 100% two-bedroom floorplans - all units averaging 850 square feet. Future ownership will have the opportunity to upgrade 2 classic interiors with an associated renovation premium of $250 per month.

Exclusively Listed By

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