Hilton Apartments | 805-825 N 2nd Ave
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Hilton Apartments 805-825 N 2nd Ave
24 Unit Apartment Building $4,930,000 ($205,417/Unit) 5.51% Cap Rate Phoenix, AZ 85003
Investment Highlights
- Walking Distance to Numerous Boutique Restaurants, Bars, & Shopping
- Individually Metered for Electricity
Executive Summary
Discover the charm of urban living in the heart of Roosevelt Row, one of downtown Phoenix's most vibrant and eclectic neighborhoods. This 24-unit apartment complex, featuring a mix of 1-bedroom/1-bath units and studio apartments, offers tenants the perfect combination of comfort and convenience. With a total rentable square footage of 8,788 SF, this property is just steps away from boutique restaurants, trendy bars, and unique shopping destinations.
Each unit is individually metered for electricity, providing tenants with independent control over their utilities. The property also includes a community laundry room for added convenience. Currently, all units are occupied by an owner-user, and the owner may consider leasing back some units temporarily, depending on the terms. Please note that all numbers provided in the listing are proforma estimates.
Located in the bustling Roosevelt Row area, this is a prime opportunity for investors seeking stable income and a property with excellent long-term potential.
Please note: Drive-by only. Do not disturb tenants.
Each unit is individually metered for electricity, providing tenants with independent control over their utilities. The property also includes a community laundry room for added convenience. Currently, all units are occupied by an owner-user, and the owner may consider leasing back some units temporarily, depending on the terms. Please note that all numbers provided in the listing are proforma estimates.
Located in the bustling Roosevelt Row area, this is a prime opportunity for investors seeking stable income and a property with excellent long-term potential.
Please note: Drive-by only. Do not disturb tenants.
Property Facts
| Price | $4,930,000 | Building Class | C |
| Price Per Unit | $205,417 | Lot Size | 0.32 AC |
| Sale Type | Investment | Building Size | 9,809 SF |
| Cap Rate | 5.51% | Average Occupancy | 100% |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1954/2013 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | $4,930,000 |
| Price Per Unit | $205,417 |
| Sale Type | Investment |
| Cap Rate | 5.51% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 9,809 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1954/2013 |
| Opportunity Zone |
Yes |
Unit Amenities
- Tile Floors
- Kitchen
- Refrigerator
- Range
- Yard
- Wheelchair Accessible (Rooms)
Site Amenities
- Courtyard
- Fenced Lot
- Laundry Facilities
- Property Manager on Site
- Gated
- Grill
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 20 | $1,270 | 320 |
| 1+1 | 4 | $1,550 | 597 |
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Walk Score ®
Walker's Paradise (95)
Bike Score ®
Very Bikeable (76)
PROPERTY TAXES
| Parcel Number | 111-40-079 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $123,707 |
PROPERTY TAXES
Parcel Number
111-40-079
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$123,707
zoning
| Zoning Code | R-5, Phoenix |
| R-5, Phoenix |
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Hilton Apartments | 805-825 N 2nd Ave
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