This Multifamily Property is no longer advertised on LoopNet.com.

2620 N 40th St
Phoenix, AZ 85008

The Clubhouse at Arcadia · Multifamily Property For Sale · 43 Units

PROPERTY FACTS

No. Units 43
Property Type Multifamily
Property Subtype Apartment
Apartment Style Garden
Building Class C
Lot Size 2.54 AC
Building Size 38,000 SF
No. Stories 1
Year Built/Renovated 1951/2018
Parking Ratio 1.51/1,000 SF

UNIT AMENITIES

  • Air Conditioning
  • Balcony
  • Washer/Dryer Hookup
  • Heating
  • Ceiling Fans
  • Hardwood Floors
  • High Speed Internet Access
  • Refrigerator
  • Oven
  • Lawn
  • Patio
  • Smoke Free

SITE AMENITIES

  • Courtyard
  • Laundry Facilities
  • Pool
  • Trash Pickup - Curbside
  • Maintenance on site
  • Smoke Detector

ABOUT 2620 N 40TH ST , PHOENIX, AZ 85008

This 43-unit property is located in the highly sought after South Arcadia neighborhood of East Phoenix, which is extremely popular being positioned in the middle of many restaurants, shopping, as well as a number of quiet single-family communities. Zillow recently rated the Camelback East neighborhood as the most popular as well as highest searched neighborhood in Phoenix. The East Phoenix Submarket, including portions of Arcadia, has experienced robust rent and occupancy growth over the last five years. In fact, rent has increased an average of 5.4% year-over-year since 2014. The average occupancy rate for the submarket is 95%, above the 94% technical mark denoting a supply imbalance. Additionally, with no new large (50+ units) projects either under construction or planned would suggest continued rent growth well into the foreseeable future.

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
1+1 15 - 960
2+1 1 - 1,385
2+2 27 - 1,095

PROPERTY TAXES

ZONING

Zoning Code R-3
  • Listing ID: 13811665

  • Date on Market: 9/17/2018

  • Last Updated:

  • Address: 2620 N 40th St, Phoenix, AZ 85008