Flower Apartments

$ 2,925,000

3208 E Flower St, Phoenix, AZ 85018, USA
  • Date added: 02/21/18
  • Status:

Description

The Flower Apartments is a 22-unit community in the heart of the lower Arcadia/Biltmore neighborhood, one of the most sought after areas in Phoenix. Tenants enjoy intimate access to the best Phoenix and Scottsdale restaurants and nightlife. It has a great mix of 1 & 2-bedroom units, with a washer/dryer in each unit. Amenities include a community swimming pool and gated entry. Approximately half of the units have been renovated, with the remainder as value-add opportunity for the new owner. Additionally, back yards can be added on select units for further upside. The proforma reflects rents already achieved!

Property Summary

  • Number of units: 22
  • Unit mix: 14 2-BED/2-BATH, 8 1-BED/1-BATH
  • Rentable sq. footage: 16018 sq ft
  • Average unit size: 728 sq ft
  • Current average rent: $ 782
  • Lot size: 0.7 acres
  • Number of buildings: 2
  • Number of stories: 2
  • Construction: Block, Stucco
  • Zoned: R4

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