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Multifamily

Cactus Road

2223-2255 E Cactus Rd, Phoenix, AZ 85022

Listing Price: $6,250,000

Cap Rate
2.83%
Number of Units
24
Price/Unit
$260,417
Price/Gross SF
$300.02
Gross SF
20,832

Investment Overview

Cactus Road is a 24-unit apartment community located just west of 24th street with outstanding visibility alongside Cactus Road. With a centralized Phoenix location and placed less than one and a half miles from State Route 51 (SR 51), convenient access is found to a plethora of employment, lifestyle, and recreational attractions. Led by a strong employment landscape, over ±169,100 employees and ±4,700 businesses are easily accessible throughout the Deer Valley/I-17 Employment Corridors and Kierland Corridor/Scottsdale Airpark, headlined by tenants such as Vanguard, USAA, American Express, and Blue Cross Blue Shield. Additional desired destinations of Desert Ridge Marketplace, High Street, and the Paradise Valley Mall transformation provide renters a more diverse and robust lifestyle. Developed in 1979, Cactus Road is comprised entirely of two-bedroom floorplans, each offering 868 square feet. Future ownership will have the opportunity to renovate all 23 legacy and partially-renovated units to capitalize on a corresponding $300 rent premium based on the current market and achieved rents by similar properties in the immediate surrounding area.

Investment Highlights

  • Uniquely located on Cactus Road at the top of a desirable North Phoenix residential neighborhood.
  • All 2 Bdr, 2 Bath floorplans. Individually-parceled fourplexes.
  • Future ownership will have the opportunity to renovate the remaining 18 classic units capitalizing on renovation premiums already proven at the property.

Exclusively Listed By

Financing By

Listing Price: $6,250,000

Cap Rate
2.83%
Number of Units
24
Price/Unit
$260,417
Price/Gross SF
$300.02
Gross SF
20,832

Investment Highlights

  • Uniquely located on Cactus Road at the top of a desirable North Phoenix residential neighborhood.
  • All 2 Bdr, 2 Bath floorplans. Individually-parceled fourplexes.
  • Future ownership will have the opportunity to renovate the remaining 18 classic units capitalizing on renovation premiums already proven at the property.

Investment Overview

Cactus Road is a 24-unit apartment community located just west of 24th street with outstanding visibility alongside Cactus Road. With a centralized Phoenix location and placed less than one and a half miles from State Route 51 (SR 51), convenient access is found to a plethora of employment, lifestyle, and recreational attractions. Led by a strong employment landscape, over ±169,100 employees and ±4,700 businesses are easily accessible throughout the Deer Valley/I-17 Employment Corridors and Kierland Corridor/Scottsdale Airpark, headlined by tenants such as Vanguard, USAA, American Express, and Blue Cross Blue Shield. Additional desired destinations of Desert Ridge Marketplace, High Street, and the Paradise Valley Mall transformation provide renters a more diverse and robust lifestyle. Developed in 1979, Cactus Road is comprised entirely of two-bedroom floorplans, each offering 868 square feet. Future ownership will have the opportunity to renovate all 23 legacy and partially-renovated units to capitalize on a corresponding $300 rent premium based on the current market and achieved rents by similar properties in the immediate surrounding area.

Exclusively Listed By

Financing By

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