
Description
This fantastic, value-add opportunity consists of 197 units. Built in 1963, this property was purchased off-market, and has been owned and self-managed by the same group since the early 1990s. The property offers a significant value-add opportunity, as 100% of the units have classic interior finishes, which we will renovate to our platinum interior program. It is nestled in between major freeway systems like the Loop 202, Loop 101 and the US-60, which allows tenants to reach major employment hubs within minutes
Project Details:
Project Sources: $45,000,000
Project Timeline: 2-5 Year
Projected Returns: 7% preferred return yearly / Projected 16% IRR
Projected Equity Multiple: 1.9x
Location: Phoenix, AZ
Strategy: Value-Add Equity Growth
Status: Owned