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Multifamily

Clubhouse at Arcadia

2620 N 40th St, Phoenix, AZ 85008

Listing Price: Request For Offer

Number of Units
43
Occupancy
100.0%
Gross SF
45,350

Investment Overview

Enviously located in the heart of Central Phoenix’s live-workplay offerings, Clubhouse at Arcadia is primely positioned within an incredibly short commute to some of the state’s largest employment corridors, all while being surrounded by a robust variety of boutique eateries and upscale retail familiar to the Biltmore and Arcadia neighborhoods. With both the 44th Street Gateway Corridor and the Phoenix Sky Harbor International Airport Area located less than two and a half miles away, as well as the Innovation Corridor stretching along Central Avenue and the influential Downtown Phoenix both less than a six mile travel, more than ±404,000 jobs are in extremely near proximity. Old town Scottsdale and Arizona State University are each within seven miles, completing the unbelievably well-rounded landscape offered by this location. Developed in 1969, the property’s unit mix offers a desired combination of large one-bedroom (±35%) and two-bedroom (±65%) units. A prospective buyer would have the opportunity to provide every unit at the property with a new luxury-plus quality renovation to capitalize on a corresponding $250 rent premium supported by the current market environment and comparable properties in the surrounding area.

Investment Highlights

  • Unique single-level, low-density community in the highly coveted Arcadia Lite submarket.
  • 65% two-bedroom floorplans. 1,055 SF average unit size. All units are renovated and include vaulted ceilings, private patios and washer/dryer units.
  • Central chiller system has been removed. All units have individually roof-mounted HVACs.

Exclusively Listed By

Financing By

Multifamily

Clubhouse at Arcadia

Listing Price: Request For Offer

Number of Units
43
Occupancy
100.0%
Gross SF
45,350

Investment Highlights

  • Unique single-level, low-density community in the highly coveted Arcadia Lite submarket.
  • 65% two-bedroom floorplans. 1,055 SF average unit size. All units are renovated and include vaulted ceilings, private patios and washer/dryer units.
  • Central chiller system has been removed. All units have individually roof-mounted HVACs.

Investment Overview

Enviously located in the heart of Central Phoenix’s live-workplay offerings, Clubhouse at Arcadia is primely positioned within an incredibly short commute to some of the state’s largest employment corridors, all while being surrounded by a robust variety of boutique eateries and upscale retail familiar to the Biltmore and Arcadia neighborhoods. With both the 44th Street Gateway Corridor and the Phoenix Sky Harbor International Airport Area located less than two and a half miles away, as well as the Innovation Corridor stretching along Central Avenue and the influential Downtown Phoenix both less than a six mile travel, more than ±404,000 jobs are in extremely near proximity. Old town Scottsdale and Arizona State University are each within seven miles, completing the unbelievably well-rounded landscape offered by this location. Developed in 1969, the property’s unit mix offers a desired combination of large one-bedroom (±35%) and two-bedroom (±65%) units. A prospective buyer would have the opportunity to provide every unit at the property with a new luxury-plus quality renovation to capitalize on a corresponding $250 rent premium supported by the current market environment and comparable properties in the surrounding area.

Exclusively Listed By

Financing By

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