Coolidge Apartments | 2340-2348 W Coolidge St
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Coolidge Apartments 2340-2348 W Coolidge St
12 Unit Apartment Building $2,190,000 ($182,500/Unit) 5.46% Cap Rate Phoenix, AZ 85015
Executive Summary
The Coolidge Apartments are comprised of two parcels and six buildings, housing eleven two bedroom units and one studio unit, all individually metered for electricity and all with air conditioning. The five duplex buildings are all two bedroom units with updated electrical, individual yards, storage, tenant favored private driveways and carports allowing tenants to park right next to their unit and unload groceries directly into the kitchen! These amenities help keep turnover to a minimum! The current rents are under market as these features are being overlooked, and consequently occupancy has always been excellent! Tenants are responsible for their own electric expense.
Tenant pays water/sewer/trash with the City of Phoenix. Located in Mid-Town Phoenix near 23rd Avenue and Camelback Road, the Coolidge Apartments offer a variety of employment opportunities just a short distance away. Also close by is the Grand Canyon University. Mass transit is available on 23rd Avenue and also along Camelback Road – with the Light Rail (which takes riders by both ASU campuses) at 19th Ave and Camelback!!!
Tenant pays water/sewer/trash with the City of Phoenix. Located in Mid-Town Phoenix near 23rd Avenue and Camelback Road, the Coolidge Apartments offer a variety of employment opportunities just a short distance away. Also close by is the Grand Canyon University. Mass transit is available on 23rd Avenue and also along Camelback Road – with the Light Rail (which takes riders by both ASU campuses) at 19th Ave and Camelback!!!
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,190,000 | Building Class | C |
| Price Per Unit | $182,500 | Lot Size | 0.84 AC |
| Sale Type | Investment | Building Size | 7,899 SF |
| Cap Rate | 5.46% | Average Occupancy | 100% |
| No. Units | 12 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1966/2024 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Garden |
| Price | $2,190,000 |
| Price Per Unit | $182,500 |
| Sale Type | Investment |
| Cap Rate | 5.46% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.84 AC |
| Building Size | 7,899 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1966/2024 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $325.00 | 350 |
| 2+1 | 10 | $1,273 | 850 |
| 3+2 | 1 | $1,350 | 1,600 |
1 of 1
zoning
| Zoning Code | R-3 (Multifamily Residential) |
| R-3 (Multifamily Residential) |
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Coolidge Apartments | 2340-2348 W Coolidge St
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