The Property
3636 E Verde Phoenix is a charming and well-maintained 9-unit apartment building located in the sought-after neighborhood of Arcadia Lite in Phoenix, Arizona. This property offers a fantastic opportunity for both investors and tenants alike with its recent renovations and appealing amenities.
One of the most significant updates to the property is the installation of new pipes, which ensures a reliable plumbing system for all the units. Additionally, a newer roof has been put in place, providing enhanced protection against the elements and reducing maintenance costs for the foreseeable future.
The building’s appeal is further enhanced by the inclusion of dual-pane windows in each unit. These windows not only improve energy efficiency but also minimize noise pollution, allowing tenants to enjoy a peaceful and comfortable living experience.
Moreover, with the electric masts being raised, residents can benefit from a more reliable electrical supply, ensuring uninterrupted power to all units.
The exterior of the property has not been overlooked in the renovations. New landscaping has been added, creating an inviting and visually appealing environment for the residents. Tenants can take advantage of well-maintained space to relax, socialize, or simply enjoy the outdoors.
All nine units are currently fully occupied, indicating a strong demand for housing in this desirable location. This presents an excellent opportunity for the property owner to increase rental rates gradually, contributing to enhanced profitability and return on investment.
For the convenience of the residents, the property boasts an on-site laundry room, making laundry chores a breeze. This amenity is highly valued by tenants, making it an attractive feature for prospective renters as well.
Moreover, for additional income potential, the property offers a garage rental option. Tenants have the option to rent garages for extra storage space or to park their vehicles securely, providing an added incentive to choose this property as their home.
Arcadia Lite is a popular neighborhood known for its unique blend of urban convenience and suburban charm. Residents of this area enjoy easy access to a variety of dining, shopping, and entertainment options, making it an enticing location for potential tenants.
In conclusion, 3636 E Verde Phoenix is a well-maintained, fully occupied 9-unit apartment building with numerous attractive features, including new pipes, a newer roof, dual-pane windows, raised electric masts, new landscaping, on-site laundry facilities, and the option for garage rentals. Situated in the desirable Arcadia Lite neighborhood, this property offers excellent potential for rental income growth, making it an appealing investment opportunity in the Phoenix real estate market.
Buyer to verify all facts and figures.
Virtual Tour-Check out the Virtual Tour
If you‘re interested in exploring the features of this property without leaving the comfort of your home, I highly recommend checking out the virtual tour. By clicking on the link provided, you’ll have the opportunity to experience a 360-degree view of the property, giving you a more immersive and interactive perspective. So why not take advantage of this convenient and innovative tool and discover what this property has to offer?
Location
**Exploring Arcadia Lite: Phoenix’s Charming Neighborhood**
*Welcome to Arcadia Lite, a vibrant and delightful neighborhood nestled in the heart of Phoenix, Arizona. Known for its unique blend of urban sophistication and suburban charm, Arcadia Lite offers residents and visitors alike an inviting atmosphere and a wealth of attractions to enjoy.*
**Location and Accessibility:**
Arcadia Lite is conveniently located just minutes away from downtown Phoenix, making it easily accessible from major highways and roads. Its central location allows for quick access to other popular areas, including Scottsdale and Tempe. The neighborhood is bordered by 44th Street to the west, 68th Street to the east, Thomas Road to the south, and Indian School Road to the north.
**Character and Atmosphere:**
Arcadia Lite exudes a distinct character characterized by tree-lined streets, cozy mid-century ranch-style homes, and lush greenery. The neighborhood maintains a unique blend of older charm and modern amenities, attracting a diverse mix of residents, from young professionals to families and retirees. Unlike its upscale counterpart, Arcadia, Arcadia Lite offers a more affordable living option while still capturing the essence of the area’s desirable lifestyle.
**Dining and Entertainment:**
One of Arcadia Lite’s most alluring features is its vibrant dining and entertainment scene. Along Indian School Road and 44th Street, you’ll find a wide array of restaurants, cafes, and eateries offering a delectable mix of cuisines. From trendy gastropubs to cozy brunch spots and upscale dining experiences, there’s something to satisfy every palate.
**Outdoor Activities:**
For those who enjoy outdoor activities, Arcadia Lite has plenty to offer. The Arizona Canal Trail, a popular biking and walking path, meanders through the neighborhood, providing a scenic route for exercise and leisure. The nearby Papago Park, with its picturesque red sandstone formations and hiking trails, is an ideal spot for nature enthusiasts and offers stunning views of the city and beyond.
**Arts and Culture:**
While Arcadia Lite is primarily residential, it is conveniently located near several cultural landmarks and art galleries. The Phoenix Art Museum and the Heard Museum are just a short drive away, providing an opportunity to explore diverse art collections and learn about Arizona’s rich Native American heritage.
**Shopping:**
Arcadia Lite boasts an eclectic mix of boutiques, specialty stores, and shopping centers. The Biltmore Fashion Park, a premier upscale shopping destination, is nearby, offering an array of high-end retailers and dining options for a more luxurious shopping experience.
**Community Events:**
Arcadia Lite is known for its tight-knit community and often hosts various events and gatherings. From farmers’ markets to neighborhood festivals and holiday celebrations, there’s always something happening to bring residents together and foster a sense of belonging.
**Education:**
Families with children will appreciate the proximity to quality educational institutions. The neighborhood falls within the boundaries of the Phoenix Union High School District, which includes several well-regarded public schools. Additionally, there are private school options and nearby colleges for higher education opportunities.
**Conclusion:**
In summary, Arcadia Lite is a charming and inviting neighborhood in Phoenix, Arizona, that offers a delightful mix of urban living and suburban charm. With its central location, diverse dining options, outdoor activities, and a strong sense of community, Arcadia Lite has something to offer for everyone seeking an authentic and enjoyable Phoenix experience. Whether you’re a resident or a visitor, exploring Arcadia Lite is sure to leave you with a lasting impression of this thriving area.
$2,195,000
Sale Price
$154,754
Effective Income
$26,330
Operating Expenses
$128,423
Net Operating Income
5.85%
Cap Rate
Offering Memorandum and Marketing Flyer
To access the Offering Memorandum or the one page Flyer, simply click on the button located below. From there, you’ll be able to download the document in PDF format.
Our Offering Memorandum is an essential resource for anyone who is considering investing in our opportunity. It includes all the necessary information, such as the investment terms, potential risks, financial projections, and more. By reviewing this document, you’ll have a complete understanding of what the investment entails.
If you have any questions or would like to learn more about our investment opportunity, please don’t hesitate to reach out to us. We’re always happy to answer any questions and provide you with the information you need to make an informed decision.
Thank you for considering our investment opportunity, and we hope to hear from you soon!
We‘d like to invite you to check out the additional photos we have uploaded to our website for our property. These photos offer a more detailed view of the property from various angles and perspectives, giving you a better understanding of its layout and features. Take a few moments to browse through these photos to see for yourself what our property has to offer. We believe that they will provide you with a better insight into our property. Thank you for considering this property, and please don’t hesitate to contact us if you have any questions.
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