Proposed 102-Unit Multifamily Development | 2158, 2164, & 2174 E Apache Blvd
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Proposed 102-Unit Multifamily Development 2158, 2164, & 2174 E Apache Blvd
102 Unit Apartment Building $8,500,000 ($83,333/Unit) Tempe, AZ 85281
Investment Highlights
- Prime 2.15-acre site in Tempe for redevelopment into 102 luxury apartment units, located near ASU.
- The project is strategically located near major employers like ASU and offers excellent access to light-rail and highways.
- With a proposed 4-story design and surface parking, this development meets the demand for upscale living in a high-growth area.
Executive Summary
**DO NOT DISTURB CURRENT HOTEL OPERATIONS, MUST CONTACT BROKER TO TOUR PROPERTY**
**Disclaimer:** This sale exclusively encompasses the land and the existing structures of the three motels. It does not involve the sale of the business operations related to these properties. The seller will not engage in any restoration or repairs, and the properties are offered “As-Is".
Vestmont Properties is pleased to offer a qualified apartment developer/investor an excellent opportunity to enter the dynamic Tempe market
and capitalize on one of the fastest-growing submarkets in the southwest.
There are currently three (3) existing active motels onsite. The site can be cleared for multi-family to be built. Re-Zoning to an MU-4 TOD Pad Overlay
would be required for the proposed use of a 4-story, surfaced parked, 102-unit apartment building.
The owner has reached out to various consultants (Architects, Civil Engineers, Surveyors, General Contractors, Zoning Attorneys, etc.). To date, the
Owner has compiled the following reports; Title Report, ALTA Survey, Yield Study, Site Plan, Unit-Mix, Elevations, Renderings, Market Feasibility Study, Zoning Timeline, Development Budget, and Proforma.
**Disclaimer:** This sale exclusively encompasses the land and the existing structures of the three motels. It does not involve the sale of the business operations related to these properties. The seller will not engage in any restoration or repairs, and the properties are offered “As-Is".
Vestmont Properties is pleased to offer a qualified apartment developer/investor an excellent opportunity to enter the dynamic Tempe market
and capitalize on one of the fastest-growing submarkets in the southwest.
There are currently three (3) existing active motels onsite. The site can be cleared for multi-family to be built. Re-Zoning to an MU-4 TOD Pad Overlay
would be required for the proposed use of a 4-story, surfaced parked, 102-unit apartment building.
The owner has reached out to various consultants (Architects, Civil Engineers, Surveyors, General Contractors, Zoning Attorneys, etc.). To date, the
Owner has compiled the following reports; Title Report, ALTA Survey, Yield Study, Site Plan, Unit-Mix, Elevations, Renderings, Market Feasibility Study, Zoning Timeline, Development Budget, and Proforma.
Data Room Click Here to Access
- Offering Memorandum
- Third Party Reports
- Miscellaneous
Property Facts
| Price | $8,500,000 | Apartment Style | Mid Rise |
| Price Per Unit | $83,333 | Building Class | A |
| Sale Type | Investment | Lot Size | 2.14 AC |
| Sale Conditions | Redevelopment Project | Construction Status | Proposed |
| No. Units | 102 | Building Size | 105,205 SF |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment |
| Price | $8,500,000 |
| Price Per Unit | $83,333 |
| Sale Type | Investment |
| Sale Conditions | Redevelopment Project |
| No. Units | 102 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | A |
| Lot Size | 2.14 AC |
| Construction Status | Proposed |
| Building Size | 105,205 SF |
| No. Stories | 4 |
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Bike Score ®
Very Bikeable (83)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $0 | Total Assessment | $300,373 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$300,373
zoning
| Zoning Code | CSS, R-4 (Commercial Shopping and Service (CSS) and Multifamily Residential General (R-4)) |
| CSS, R-4 (Commercial Shopping and Service (CSS) and Multifamily Residential General (R-4)) |
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Kevin Barr -
Vestmont Properties Inc.
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Proposed 102-Unit Multifamily Development | 2158, 2164, & 2174 E Apache Blvd
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