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Multifamily

Melrose at Biltmore

1934 E Fairmount Ave, Phoenix, AZ 85016

Listing Price: $2,000,000

Cap Rate
3.44%
Number of Units
8
Price/Unit
$250,000
Price/Gross SF
$448.03
Gross SF
4,464

Investment Overview

M E L R O S E A T B I L T M O R E is an 8-unit apartment community located less than a half mile from Interstate 51, surrounded by numerous options to take advantage of the established live-work-play culture offered throughout central Phoenix. Nestled less than three miles from Midtown, Arcadia, and the 24th Street and Camelback Road intersection at the heart of the Biltmore area, the surrounding landscape provides excellent access to some of the largest employment corridors in the state, along with many of the best restaurants and shopping locations in the valley. Developed in 1963, Melrose at Biltmore is comprised of 100% one-bedroom floorplans - all units averaging 558 square feet. Future ownership will have the opportunity to upgrade all 8 interiors to include in-suite laundry with an associated renovation premium of $100 per month.

Investment Highlights

  • Located in a desirable SFH neighborhood in the coveted Biltmore submarket.
  • Future ownership will have the opportunity to upgrade the renovated units to include in-suite laundry and front patios.
  • One bedroom floorplans.

Exclusively Listed By

Multifamily

Melrose at Biltmore

Listing Price: $2,000,000

Cap Rate
3.44%
Number of Units
8
Price/Unit
$250,000
Price/Gross SF
$448.03
Gross SF
4,464

Investment Highlights

  • Located in a desirable SFH neighborhood in the coveted Biltmore submarket.
  • Future ownership will have the opportunity to upgrade the renovated units to include in-suite laundry and front patios.
  • One bedroom floorplans.

Investment Overview

M E L R O S E A T B I L T M O R E is an 8-unit apartment community located less than a half mile from Interstate 51, surrounded by numerous options to take advantage of the established live-work-play culture offered throughout central Phoenix. Nestled less than three miles from Midtown, Arcadia, and the 24th Street and Camelback Road intersection at the heart of the Biltmore area, the surrounding landscape provides excellent access to some of the largest employment corridors in the state, along with many of the best restaurants and shopping locations in the valley. Developed in 1963, Melrose at Biltmore is comprised of 100% one-bedroom floorplans - all units averaging 558 square feet. Future ownership will have the opportunity to upgrade all 8 interiors to include in-suite laundry with an associated renovation premium of $100 per month.

Exclusively Listed By

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