Springleaf is a mid-size apartment community within walking distance (1/2 mile) from Arizona State University(ASU) in Tempe, Arizona. It is a 22 unit two story community built in 1978 of block construction with pitched asphalt shingle roofs.
The community is individually metered for electricity, has individual ground mounted HVAC’s and individual water heaters in each of the units. The community offers spacious one bedroom one bath floor plans, a laundry facility, a pool and sundeck for residents to enjoy.
The property is zoned R-4 and situated on 4 separate parcels of 7,500 SF per parcel for a total of 30,000 SF. In 2017 owners renovated 11 units to leverage location for stronger rents. The property is a prime candidate for new owner to continue the renovation program with a reposition strategy to achieve rent premiums.
- Number of units: 22
- Unit mix: 1 Bed / 1 Bath
- Rentable sq. footage: 12870 sq ft
- Average unit size: 585 sq ft
- Current average rent: $ 725
- Lot size: 30000 sq ft
- Number of buildings: 2
- Number of stories: 2
- Construction: Block, stucco
- Zoned: R4 - 4 seperate lots for future development