Bryson [email protected] 602.912.3521
Todd [email protected] 602.474.9550
Ryan [email protected] 602.912.3526
3200 East Camelback Road, Suite 100 | Phoenix, Arizona 85018 | 602-956-7777 | www.leearizona.com
FOR MORE INFORMATION, PLEASE CONTACT:
AVAILABLE FOR SALE4025 NORTH 40TH STREET | PHOENIX, ARIZONA
TIDES AT ARCADIA
3200 East Camelback Road, Suite 100 | Phoenix, Arizona 85018 | 602-956-7777 | www.leearizona.com
AVAILABLE FOR SALE4025 NORTH 40TH STREET | PHOENIX, ARIZONA
TIDES AT ARCADIA
TABLE OF CONTENTS
Property Information Offering Summary ................................................................................................................................................................................... 4
Property Overview .................................................................................................................................................................................. 5
Exterior Renovations ............................................................................................................................................................................... 6
Interior Renovations ................................................................................................................................................................................ 7
Location Neighborhood Amenities ...................................................................................................................................................................... 9
Aerial Overview ....................................................................................................................................................................................... 11
Why Phoenix?
Greater Phoenix Overview ..................................................................................................................................................................... 13
Financial Analysis Proforma ................................................................................................................................................................................................... 18
Operational Upsides ............................................................................................................................................................................... 19
Sales Comparables Comparables Map .................................................................................................................................................................................. 21
Sales Comparables ................................................................................................................................................................................. 22
3200 East Camelback Road, Suite 100 | Phoenix, Arizona 85018 | 602-956-7777 | www.leearizona.com
AVAILABLE FOR SALE4025 NORTH 40TH STREET | PHOENIX, ARIZONA
TIDES AT ARCADIA
PROPERTY INFORMATION
Lee & Associates is pleased to present the opportunity to acquire The Tides at Arcadia apartments. The 49 unit complex is comprised of 48 one bedroom one bath units along with 1 three bedroom two bathroom house. The Tides at Arcadia is a mix of one and two two-story buildings built with block and concrete. OFFERING TERMS: All cash PRICE: Market Price PROPERTY TOURS: By appointment only.
OFFERING SUMMARY
3200 East Camelback Road, Suite 100 | Phoenix, Arizona 85018 | 602-956-7777 | www.leearizona.com
AVAILABLE FOR SALE4025 NORTH 40TH STREET | PHOENIX, ARIZONA
TIDES AT ARCADIA
Units: 49 Year Built: 1966 remodeled 2017 Construction Type: Block, Concrete Style: Garden Roofs: Pitched Shingle
PROPERTY OVERVIEW
3200 East Camelback Road, Suite 100 | Phoenix, Arizona 85018 | 602-956-7777 | www.leearizona.com
AVAILABLE FOR SALE4025 NORTH 40TH STREET | PHOENIX, ARIZONA
TIDES AT ARCADIA
• Exterior paint
• Recently replaced chiller
• Recently re-piped hot water and replaced tankless water heaters
• Pool area
• Laundry rooms
• BBQ area
• Fire pit
• Loungers for sunbathing
• Exterior signage
• Xeriscaping
• Faux teakwood accents
EXTERIOR RENOVATIONS
3200 East Camelback Road, Suite 100 | Phoenix, Arizona 85018 | 602-956-7777 | www.leearizona.com
AVAILABLE FOR SALE4025 NORTH 40TH STREET | PHOENIX, ARIZONA
TIDES AT ARCADIA
• Stainless steel appliances • Refrigerator • Gas Range* • Microwave • Dishwasher*
• Stackable washer/dryer*
• Cabinetry
• Quartz countertops
• Faux wood flooring
• Contemporary lighting and plumbing fixtures
• Subway tile backsplashs
• Ceiling Fans
• Tub enclosures
• Arcadia style doors*
INTERIOR RENOVATIONS
3200 East Camelback Road, Suite 100 | Phoenix, Arizona 85018 | 602-956-7777 | www.leearizona.com
AVAILABLE FOR SALE4025 NORTH 40TH STREET | PHOENIX, ARIZONA
TIDES AT ARCADIA
3200 East Camelback Road, Suite 100 | Phoenix, Arizona 85018 | 602-956-7777 | www.leearizona.com
AVAILABLE FOR SALE4025 NORTH 40TH STREET | PHOENIX, ARIZONA
TIDES AT ARCADIA
LOCATION
3200 East Camelback Road, Suite 100 | Phoenix, Arizona 85018 | 602-956-7777 | www.leearizona.com
Historic Arcadia Neighborhood
Scottsdale
NEIGHBORHOOD AMENITIES
NORTHEAST VIEW
The Tides at Arcadia is located in one of the most desirable submarkets in all of Arizona. This beautifully renovated 49 unit garden style community has been a great complement to the newly redeveloped intersection of 40th Street and Indian School Road.
AVAILABLE FOR SALE4025 NORTH 40TH STREET | PHOENIX, ARIZONA
TIDES AT ARCADIA
3200 East Camelback Road, Suite 100 | Phoenix, Arizona 85018 | 602-956-7777 | www.leearizona.com
NORTHWEST VIEW
AVAILABLE FOR SALE4025 NORTH 40TH STREET | PHOENIX, ARIZONA
TIDES AT ARCADIA
3200 East Camelback Road, Suite 100 | Phoenix, Arizona 85018 | 602-956-7777 | www.leearizona.com
The Tides at Arcadia is situated in the Arcadia lite neighborhood. Single family homes, in general, are selling between $550,000 to over $1,500,000. The Arcadia neighborhood is not only sought after for its large lots and lush landscape but is also part of the Scottsdale unified school district. Located just minutes away from the Biltmore financial district, Camelback corridor, Tempe Town Lake, Old Town Scottsdale and Phoenix Midtown CBD. These core locations are home to a large majority of real estate, insurance, start-up and white collar, knowledge based jobs in Metropolitan Phoenix.
AERIAL OVERVIEW
AVAILABLE FOR SALE4025 NORTH 40TH STREET | PHOENIX, ARIZONA
TIDES AT ARCADIA
3200 East Camelback Road, Suite 100 | Phoenix, Arizona 85018 | 602-956-7777 | www.leearizona.com
AVAILABLE FOR SALE4025 NORTH 40TH STREET | PHOENIX, ARIZONA
TIDES AT ARCADIA
WHY PHOENIX?
3200 East Camelback Road, Suite 100 | Phoenix, Arizona 85018 | 602-956-7777 | www.leearizona.com
AVAILABLE FOR SALE4025 NORTH 40TH STREET | PHOENIX, ARIZONA
TIDES AT ARCADIA
2
FAST-TRACK PERMITTING90 DAYS OR LESS THROUGHOUT THE
ONE OF THEIN THE WESTERN U.S.LOWEST LABOR COSTS
ECONOMYOF THE STATE’S
REPRESENTSGREATER PHOENIX
LARGESTLABOR POOL IN THE WEST
GE GRAPHIC REGIONAN EXCEEDINGLY ACCESSIBLE
ACCESS TO CAPITAL AND A
RIGHT-TO-WORK STATE
OPERATING ENVIRONMENT
24-HOUR PERMITS & INSPECTIONS
GREATER PHOENIX REGION
Greater Phoenix is fast-paced, dynamic, and possesses an unapologetic willingness to get things done.
GREATER PHOENIX ECONOMIC COUNCIL1
“ Arizona offers an
exciting opportunity to
address the increasing
needs of our clients as
our business continues
to grow. This step will
provide us with access
to significant talent
pools and a strategic
location that will help
us directly serve
our clients.”
REGIONAL OVERVIEW
Greater Phoenix is comprised of 23 distinct
communities cooperating as one region. In a
state that recently celebrated its centennial,
Greater Phoenix is one of the fastest growing and
dynamic metropolitan regions in the country. The
region has a pioneering spirit and welcoming
attitude – toward people and business. When
you expand or relocate your business here,
you join a community rich with opportunity,
innovation and economic vibrancy. - FREDERICK H. (RICK) WADDELL
CEO, Northern Trust
Information courtesy of the Greater Phoenix Economic Council (GPEC) | gpec.org
3200 East Camelback Road, Suite 100 | Phoenix, Arizona 85018 | 602-956-7777 | www.leearizona.com
AVAILABLE FOR SALE4025 NORTH 40TH STREET | PHOENIX, ARIZONA
TIDES AT ARCADIA
The population of Greater
Phoenix is 4.4 million and
is expected to grow to
nearly 6.4 million in the
next 20 years.
Projected employment
growth over the next
decade is 15.15%
compared to the national
projected growth of 9.42%.
A relatively young region,
Greater Phoenix has a
median age of 35.4 – two
years younger than the
average age nationwide.
GREATER PHOENIX ECONOMIC COUNCIL7
HUMAN CAPITAL + EDUCAT IONAL ASSETS
ARIZONA HAS AN EXTREMELY COMPETITIVE WORKFORCE IN REGARDS TO TRAINING, QUALITY AND AVAILABILITY OF WORKERS, WHILE MAINTAINING ONE OF THE LOWEST COSTS FOR LABOR IN THE NATION.
MATURE TALENT WORKFORCE PIPELINE
8
NUMBER OF STUDENTS ENROLLED (GRADUATE AND UNDERGRADUATE)
Arizona State University 83,301
Grand Canyon University 75,200
Maricopa Community Colleges 265,000
Northern Arizona University 25,590
University of Arizona 42,236
EDUCATIONAL ASSETS:A CONTINUOUS STREAM OF TALENTED EMPLOYEES
Arizona State University, Maricopa Community Colleges, Grand Canyon University, Northern Arizona University, University of Arizona and University of Phoenix are among more than 50 universities and other institutions of higher learning that prepare the region’s workforce.
THUNDERBIRD SCHOOL OF GLOBAL MANAGEMENT:
ARIZONA STATE UNIVERSITY:
EDUCATES AND TRAINS 265,000 INDIVIDUALS ANNUALLY
RANKED #1 INTERNATIONAL FULL-TIME MBA
MARICOPA COMMUNITY COLLEGES:
#5 IN THE NATION FOR BEST-QUALIFIED GRADUATES (Wall Street Journal)
#1 MOST INNOVATIVE SCHOOL IN THE U.S. - 2016, 2015 (US News & World Report)
70% OF ASU GRADUATES REMAIN IN THE STATE AFTER GRADUATION
STUDENT POPULATION OF 80,000+ ACROSS FIVE REGIONAL CAMPUSES
3200 East Camelback Road, Suite 100 | Phoenix, Arizona 85018 | 602-956-7777 | www.leearizona.com
AVAILABLE FOR SALE4025 NORTH 40TH STREET | PHOENIX, ARIZONA
TIDES AT ARCADIA
Available sites, robust power, high-speed fiber and the low chance for natural disasters positions Greater Phoenix as a top choice for data centers and advanced business services operations.
# OF STUDENTS ENROLLED IN BUSINESS DEGREE PROGRAMS (Graduate and Undergraduate):
Arizona State University 8,637 (undergrad only)
Grand Canyon University 12,640
Maricopa Community Colleges 7,506
Northern Arizona University 2,114
University of Arizona 5,800
Phot
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Kev
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MISSION CRITICAL & ADVANCED BUSINESS SERVICES
GREATER PHOENIX ECONOMIC COUNCIL17
6TH LARGEST CONCENTRATION OF DATA CENTERS NATIONALLY
TOP 5 NATIONALLY FOR TECH JOB GROWTH
PALO VERDE NUCLEAR POWER PLANT IS THE LARGEST NUCLEAR POWER PLANT IN THE U.S.
EXCELLENT CONNECTIVITY TO MAJOR METROPOLITAN MARKETS
8
NUMBER OF STUDENTS ENROLLED (GRADUATE AND UNDERGRADUATE)
Arizona State University 83,301
Grand Canyon University 75,200
Maricopa Community Colleges 265,000
Northern Arizona University 25,590
University of Arizona 42,236
EDUCATIONAL ASSETS:A CONTINUOUS STREAM OF TALENTED EMPLOYEES
Arizona State University, Maricopa Community Colleges, Grand Canyon University, Northern Arizona University, University of Arizona and University of Phoenix are among more than 50 universities and other institutions of higher learning that prepare the region’s workforce.
THUNDERBIRD SCHOOL OF GLOBAL MANAGEMENT:
ARIZONA STATE UNIVERSITY:
EDUCATES AND TRAINS 265,000 INDIVIDUALS ANNUALLY
RANKED #1 INTERNATIONAL FULL-TIME MBA
MARICOPA COMMUNITY COLLEGES:
#5 IN THE NATION FOR BEST-QUALIFIED GRADUATES (Wall Street Journal)
#1 MOST INNOVATIVE SCHOOL IN THE U.S. - 2016, 2015 (US News & World Report)
70% OF ASU GRADUATES REMAIN IN THE STATE AFTER GRADUATION
STUDENT POPULATION OF 80,000+ ACROSS FIVE REGIONAL CAMPUSES
3200 East Camelback Road, Suite 100 | Phoenix, Arizona 85018 | 602-956-7777 | www.leearizona.com
AVAILABLE FOR SALE4025 NORTH 40TH STREET | PHOENIX, ARIZONA
TIDES AT ARCADIA
Greater Phoenix encompasses distinct communities, each
with its own identity and assets. Collectively, they offer vast
opportunity. Because you don’t have to be entrenched in the
business or social hierarchy of the region to succeed, Greater
Phoenix offers everyone the chance to thrive and make a
significant impact.
· More than 300 days of sunshine annually
· More than 325 golf courses
· Drive to beaches or the mountain pines within hours
· The cost of living is 77% cheaper on average than leading California markets
· Median household income of $53,310
· Median home sale is $217,900
· Effective property tax rate of 1.25%
· Personal income tax rate of 2.59% to 4.54%
· Average commute time is 24.7 minutes
LIFESTYLE
AFFORDABLE WITH AN
INCLUSIVE culture
Phot
o Cr
edit:
mar
kson
tok,
Flic
kr.c
om
THOUSANDS OF ATTRACTIONS & EVENTSFLOURISHING ARTS & CULTURE SCENE PROFESSIONAL SPORTS
HEARD MUSEUM Photo Credit: Paulina Pineda, Flickr.com
BARRETT-JACKSON CLASSIC CAR AUCTIONPhoto Credit: DeusXFlorida, Flickr.com
NFL ARIZONA CARDINALS Photo Credit: Chris Cameron, Flickr.com
PHOENIX ART MUSEUM Photo Credit: Fuzzy Gerdes, Flickr.com
DESERT BOTANICAL GARDEN Photo Credit: Loren Javier, Flickr.com
NHL ARIZONA COYOTES Photo Credit: Sergei Scurfield, Flickr.com
MUSICAL INSTRUMENT MUSEUM Photo Credit: Thomas Quine, Flickr.com
PHOENIX ZOO Photo Credit: Stefanie Carson, GPEC
NBA PHX SUNS & WNBA PHX MERCURY Photo Credit: Keith Allison, Flickr.com
GAMMAGE AUDITORIUM Photo Credit: Nick Bastian, Flickr.com
ARTLINK FIRST FRIDAYS Photo Credit: Chanel Wheeler, Flickr.com
MLB AZ DIAMONDBACKS & SPRING TRAINING Photo Credit: Ken Lund, Flickr.com
MESA ARTS CENTER Photo Credit: David Crummey, Flickr.com
MORE THAN 30 CRAFT BREWERIES Photo Credit: Kevin Dooley, Flickr.com
NASCAR AT PHX INTERNATIONAL RACEWAY Photo Credit: Hans Enderle, Flickr.com
24
3200 East Camelback Road, Suite 100 | Phoenix, Arizona 85018 | 602-956-7777 | www.leearizona.com
AVAILABLE FOR SALE4025 NORTH 40TH STREET | PHOENIX, ARIZONA
TIDES AT ARCADIA
FINANCIAL ANALYSIS
3200 East Camelback Road, Suite 100 | Phoenix, Arizona 85018 | 602-956-7777 | www.leearizona.com
Unit Type # of Units SizeSeptember
Rent RollToday's
Market RentYear One
RentΔ Septmeber to
Today's Rent
1Bed/1Bath 15 450 ($ 860) ($ 915) ($ 961) 6.4%
1Bed/1Bath 25 500 ($ 870) ($ 915) ($ 961) 5.2%
1Bed/1Bath 6 595 ($ 920) ($ 935) ($ 982) 1.6%
1Bed/1Bath 1 650 ($ 975) ($ 975) ($ 1,024) 0.0%
1Bed/1Bath 1 825 ($ 1,150) ($ 1,150) ($ 1,208) 0.0%
3Bed/2Bath 1 1700 ($ 1,925) ($ 2,000) ($ 2,100) 3.9%
Total/Avg: 49 531 ($ 902) ($ 946) ($ 993) 4.9%
Gross Annual Total ($ 530,640) ($ 556,020) ($ 583,821)
Gross Scheduled Rent Septmeber Rent Roll Todays Market Rent Year One Rent = Today + 5%RUBS $20 Per month on select units $20 Per Month $80 Per MonthMisc. Income T-6 T-6 T-6 + 3%Expenses Estimated Estimated Estimated + 3%
Income Summary September Rent Roll Today's Market Rent Year One RentValue Per Unit Percentage Value Per Unit Percentage Value Per Unit Percentage
GPRI/Economic Rent ($ 530,640) ($ 10,829) ($ 556,020) ($ 11,347) ($ 583,821) ($ 11,915)
Less: Vacancy Loss ($ (26,532) ($ (541) 5.00% ($ (27,801) ($ (567) 5.00% ($ (29,191) ($ (596) 5%
Less: Loss to Lease/ Bad Debt ($ (10,613) ($ (217) 2.00% ($ (11,120) ($ (227) 2.0% ($ (11,676) ($ (238) 2.0%
Net Rental Income ($ 493,495) ($ 10,071) 7.00% ($ 517,099) ($ 10,553) 7.00% ($ 542,954) ($ 11,081) 7.00%
RUBS ($ 4,000) ($ 82) ($ 11,172) ($ 228) ($ 44,688) ($ 912)
Other Income ($ 18,000) ($ 367) ($ 18,000) ($ 367) ($ 18,540) ($ 378)
Total Other Income ($ 22,000) ($ 449) ($ 29,172) ($ 595) ($ 63,228) ($ 1,290)
Effective Gross Income (EGI) ($ 515,495) ($ 10,520) ($ 546,271) ($ 11,148) ($ 606,182) ($ 12,371)
Expense SummaryValue Per Unit Percentage Value Per Unit Percentage Value Per Unit Percentage
Utility Expense ($ 38,732) ($ 790) 8% ($ 38,732) ($ 790) 8% ($ 39,894) ($ 814) 8%
Repairs & Maintenance ($ 24,500) ($ 500) 5% ($ 24,500) ($ 500) 4% ($ 25,235) ($ 515) 4%
Contract Services ($ 7,895) ($ 161) 2% ($ 7,895) ($ 161) 1% ($ 8,132) ($ 166) 1%
Leasing & Marketing ($ 8,000) ($ 163) 2% ($ 8,000) ($ 163) 1% ($ 8,240) ($ 168) 1%
Management ($ 20,620) ($ 421) 4% ($ 20,620) ($ 421) 4% ($ 21,238) ($ 433) 4%
Administrative Expenses ($ 20,000) ($ 408) 4% ($ 20,000) ($ 408) 4% ($ 20,600) ($ 420) 3%
Insurance ($ 10,946) ($ 223) 2% ($ 10,946) ($ 223) 2% ($ 11,274) ($ 230) 2%
Property Taxes ($ 7,609) ($ 155) 1% ($ 7,609) ($ 155) 1% ($ 7,837) ($ 160) 1%
Payroll ($ 24,500) ($ 500) 5% ($ 24,500) ($ 500) 4% ($ 25,235) ($ 515) 4%
Expenses Before Reserves ($ 162,802) ($ 3,322) 27% ($ 162,802) ($ 2,822) 26% ($ 167,686) ($ 2,907) 25%
Replacement Reserves ($ 12,250) ($ 250) 2% ($ 12,250) ($ 250) 2% ($ 12,250) 250 2%
Total Expenses ($ 175,052) ($ 3,572) 29% ($ 175,052) ($ 3,072) 28% ($ 179,936) ($ 3,157) 27%
Value Per Unit Percentage Value Per Unit Percentage Value Per Unit Percentage
Net Operating Income ($ 340,443) ($ 6,948) 71% ($ 371,219) ($ 7,576) 72% ($ 426,246) ($ 8,699) 73%
PROFORMA
AVAILABLE FOR SALE4025 NORTH 40TH STREET | PHOENIX, ARIZONA
TIDES AT ARCADIA
3200 East Camelback Road, Suite 100 | Phoenix, Arizona 85018 | 602-956-7777 | www.leearizona.com
OPERATIONAL UPSIDE
The Tides at Arcadia possess two obvious operational upside opportunities. Being that the community has recently reached stabilization, the rent levels currently being achieved are arguably at a lower level than area rent comps due to lease up. We believe that the release rate will be $35-$65 more than current levels. Additionally, RUBS (electricity, water, sewer, trash) billing was recently implemented. Currently only a handful of tenants pay approximately $20 per month for RUBS (electricity, water, sewer, trash). Our research shows that many similar communities are charging between $80 and $130 per month for similar RUBS billing. The combination of increased rental income and rub income for second generation leases will provide strong operational upside for potential investors. Assuming the lower, more conservative assumptions for release rental rates ($35 increase) and RUB rates ($80 increase), monthly collections will increase by approximately $5500 per month. This operational improvement execution will move the value up by approximately $1.2M assuming a 5.5 CAP rate.
Another potential additional income stream would be via the addition of unit washer and dryers. Market comps reflect additional rent of $50 for apartments that have in unit washers and dryers vs. properties the offer laundry rooms.
LOSS TO LEASE GAIN RUB INCOME EXPECTED RENT GROWTH
Current achieved rental rates average approx $941 a month and the average rent per unit for the September 2017 rent roll was approximately $900 a month. Moving all rates on turnover/lease expiration to the “Today’s Market Rent” will produce and additional ±$22,932 in income.
The charging of RUB (electric, water, sewer and trash) Income has effectively not been implemented due to the property’s recent lease up. Based on similar properties and sub-market comparable’s, a monthly RUB charge of $80 per month is arguably very achievable. Applying this to all units equates to an additional ±$47,040 in annual income.
Forecasts for rent rate growth range from 5% to 7.4% (sources: Freddie Mac, REIS, Moody’s Analytics and Yardi Matrix). Using a conservative growth rate of 5%, the annual income increases by approximately ±$27,666.
AVAILABLE FOR SALE4025 NORTH 40TH STREET | PHOENIX, ARIZONA
TIDES AT ARCADIA
3200 East Camelback Road, Suite 100 | Phoenix, Arizona 85018 | 602-956-7777 | www.leearizona.com
AVAILABLE FOR SALE4025 NORTH 40TH STREET | PHOENIX, ARIZONA
TIDES AT ARCADIA
SALES COMPARABLES
3200 East Camelback Road, Suite 100 | Phoenix, Arizona 85018 | 602-956-7777 | www.leearizona.com
COMPARABLES MAPSEE NEXT PAGE FOR DETAILED SALES COMPS
AVAILABLE FOR SALE4025 NORTH 40TH STREET | PHOENIX, ARIZONA
TIDES AT ARCADIA
3200 East Camelback Road, Suite 100 | Phoenix, Arizona 85018 | 602-956-7777 | www.leearizona.com
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4025 N 40th Street Phoenix AZ, 85018• Units: 49• Year built: 1966• Sale date: TBD• Price: Market Price• Price/unit: Market Price• Comments: Renovated 2017
4020 N 11th StreetPhoenix, AZ 85014• Units: 14• Year built: 1962• Sale date: 5/15/2017• Price: $2,240,000• Price/unit: $160,000• Comments: Renovated 2015
3234 N 38th StreetPhoenix, AZ 85018• Units: 14• Year built: 1962• Sale date: 11/4/2016• Price: $2,600,000• Price/unit: $185,714• Comments: Renovated 2015
4120 N 22nd StreetPhoenix, AZ 85016• Units: 11• Year built: 1986• Sale date: 7/11/2017• Price: $1,980,000• Price/unit: $180,000• Comments: Renovated 2017
4207 N 27th StreetPhoenix, AZ 85016• Units: 12• Year built: 1959• Sale date: 5/2/2017• Price: $1,900,000• Price/unit: $158,333• Comments: Renovated 2016
1939 E Missouri AvePhoenix, AZ 85016• Units: 20• Year built: 1958• Sale date: 8/26/2017• Price: $3,000,000• Price/unit: $150,000• Comments: Renovated 2015
1133 West 5th StreetTempe, AZ 85281• Units: 44• Year built: 1973• Sale date: 6/20/2017• Price: $7,500,000• Price/unit: $170,000• Comments: Renovated 2015
320 W PasadenaPhoenix, AZ 85013• Units: 20• Year built: 1966• Sale date: 6/2/2017• Price: $3,400,000• Price/unit: $170,000• Comments: Renovated 2016
7325 E Belleview StreetScottsdale, AZ 85257• Units: 20• Year built: 1969• Sale date: 8/23/2016• Price: $3,035,000• Price/unit: $151,750• Comments: Renovated 2015
4231-4237 N 27th StreetPhoenix, AZ 85016• Units: 20• Year built: 1966• Sale date: 6/2/2017• Price: $3,400,000• Price/unit: $170,000• Comments: Renovated 2016
4128 N 22nd StreetPhoenix, AZ 85016• Units: 11• Year built: 1970• Sale date: 4/3/2017• Price: $1,578,760• Price/unit: $143,523• Comments: Renovated 2016
1402 E Bethany Home RoadPhoenix, AZ 85014• Units: 35• Year built: 1978• Sale date: 5/25/2016• Price: $6,299,000• Price/unit: $175,971• Comments: Renovated 2015
3142 N 39th StreetPhoenix, AZ 85018• Units: 14• Year built: 1968• Sale date: 5/22/2017• Price: $2,650,000• Price/unit: $189,285• Comments: Renovated 2016
3122 N 38th StreetPhoenix, AZ 85018• Units: 15• Year built: 1978• Sale date: 2/28/2017• Price: $2,500,000• Price/unit: $166,666• Comments: Renovated 2015
605 W Pierson StPhoenix, AZ 85013• Units: 12• Year built: 1958• Sale date: 4/13/2016• Price: $1,850,000• Price/unit: $154,166• Comments: Renovated 2015
3416 North 37th StreetPhoenix, AZ 85018• Units: 12• Year built: 1960• Sale date: 5/18/2017• Price: $2,337,500• Price/unit: $194,781• Comments: Renovated 2016
6501 N 3rd AvePhoenix, AZ 85013• Units: 16• Year built: 1977• Sale date: 12/19/2016• Price: $2,463,158• Price/unit: $153,947• Comments: Renovated 2015
6825 E 4th StreetScottsdale, AZ 85251• Units: 33• Year built: 1960• Sale date: 12/22/2015• Price: $6,050,000• Price/unit: $183,333• Comments: Renovated 2015
AVAILABLE FOR SALE4025 NORTH 40TH STREET | PHOENIX, ARIZONA
TIDES AT ARCADIA
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Pies
tewa
Fwy.
17
17
303
74
3200 East Camelback Road, Suite 100 | Phoenix, Arizona 85018 | 602-956-7777 | www.leearizona.com
AVAILABLE FOR SALE4025 NORTH 40TH STREET | PHOENIX, ARIZONA
TIDES AT ARCADIA
FOR MORE INFORMATION, PLEASE CONTACT:
Bryson [email protected] 602.912.3521
Todd [email protected] 602.474.9550
Ryan [email protected] 602.912.3526