ABIMultifamily.com/portfolio/1846-apartments For more information please visit: 1846 1846 1846 EAST WASHINGTON STREET, PHOENIX, AZ 85034 1846 EAST WASHINGTON STREET, PHOENIX, AZ 85034 12 Boutique-Style, Single-Story Units Extensively Remodeled in 2019 Located on the Light Rail / In Opportunity Zone Favorably Located by Maricopa County Health Care, St. Luke’s Hospital, Sky Harbor International Airport & Downtown Phoenix Business District Individual AC for Each Unit Easy Access to Loop 202 (Red Mountain Freewy), I-10 & State Highway 51 Close to Downtown University Campuses (ASU, U of A, NAU) Offering Price: $1,050,000 12 Unit Multifamily Community in Phoenix, AZ ABIMultifamily.com Phoenix Headquarters: 5227 North 7th Street, Phoenix, AZ 85014 Tel: 602.714.1400 PROPERTY OVERVIEW Price $1,050,000 Per Unit $87,500 Per SF $265.82 CAP Rate 7.58% # of Units 12 Avg SF/Unit 329 SF Built 1940 Renovated 2019
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ABIMultifamily.com/portfolio/1846-apartmentsFor more information please visit:18461846
1846 EAST WASHINGTON STREET, PHOENIX , AZ 850341846 EAST WASHINGTON STREET, PHOENIX , AZ 85034
12 Boutique-Style, Single-Story UnitsExtensively Remodeled in 2019Located on the Light Rail / In Opportunity ZoneFavorably Located by Maricopa County Health Care, St. Luke’s Hospital, SkyHarbor International Airport & Downtown Phoenix Business District
Individual AC for Each Unit
Easy Access to Loop 202 (Red Mountain Freewy), I-10 & State Highway 51
Close to Downtown University Campuses (ASU, U of A, NAU)
Offering Price: $1,050,000 12 Unit Multifamily Community in Phoenix, AZ
ABIMultifamily.com Phoenix Headquarters: 5227 North 7th Street, Phoenix, AZ 85014 Tel: 602.714.1400
All information provided in reference to the property has been collected from sources deemed reliable. However, no representations or warranties are made as to the accuracy ofsaid information. In addition, no warranty or representation is extended to errors, omissions, change of price or other conditions. Any projections, estimates, opinions, financial orother assumptions are provided for example purposes and do not represent current or future performance of the property. Please consult with your legal, financial and taxprofessionals to make any determinations regarding whether the property is suitable for your needs and purposes.
OFFERING PRICE: $1,050,000
TOTAL UNITS: 12
YEAR BUILT: 1940 | YEAR RENOVATED: 2019
1846 is a boutique-style apartment community originally built in 1940,renovated in 2016 and extensively remodeled in 2019. The communityoffers a mix of studio, one- and two-bedroom rental units. The unitsprovide the resident the comfort of individual AC and microwaves aswell as other unit attributes. The 2019 renovation included two newmain water heaters, new roofs on both buildings, exterior paint andstucco siding, electrical panels, three units completely rewired andrebuilt, 6 new AC units, new sewer main, new walkways and exteriorawnings. The landscaping and parking lot was freshened up. Theproperty's location offers many benefits to its residents with its closeproximity to employment, health care, schools, transportation andshopping. Major employers are within a two to five mile radius withmultiple transportation alternatives available. The property is located onthe Light Rail with transportation stations at 24th Street and Washingtonas well as 12th Street and Washington. Van Buren and WashingtonStreets offer direct access into Downtown Phoenix connecting residentsto major employers as well as satellite campuses to the state’s majoruniversities (Arizona State University, the University of Arizona andNorthern Arizona University). The location is in close proximity to theValley’s freeway system as well as major thoroughfares for residents tocommute to their chosen destination.
At list price, 1846 produces a cap rate of 7.58% with room for futurerent growth to the new investor.
PRIMARY LISTING BRAD PICKERINGCONTACT: Senior Vice President
