Century Apartments — Sale in Phoenix, AZ

  • Price: $5M
  • Listing type: For sale
  • Asset type: Business
  • Location: Phoenix, AZ 85018

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Description

Century Apartments is a 30 unit fully renovated Mid-Century Modern Community located in one of the hottest rental neighborhoods in Metro Phoenix, the desirable Citrus Acres neighborhood of Arcadia Lite. The demand is being stemmed from the continued strength of the Camelback Corridor which hosts a dynamic mix of class “A” quality office space coupled with high end retail and popular shops and trendy restaurants providing the Live, Work, Play environment right in the neighborhood. Neighborhood hotspots for the residents of Century include La Grande Orange, Postino’s, The Vig Arcadia, The Porch, OHSO, Hillstone, Tarbell’s, Zipp’s, Buck & Rider, Chestnut, Flower Child and Pita Jungle. All a short walk or bike ride away. The transformation has led to increased demand and rents & values have risen significantly and continue to rise as the neighborhood continues to gentrify. Century Apartments were renovated and upgraded in 2021 with nearly $800,000 in quality capital improvements to the unit interiors and exterior, greatly enhancing the resident living experience. Cosmetic interior improvements include modern white shaker cabinets, decorative tile backsplashes, modern quartz countertops, stainless steel under mount sinks with modern retractable accordion faucets, new stainless steel appliances including built in microwaves and dishwashers. All new modern waterproof wood plank flooring throughout, 4” baseboards, modern doors/hardware/blinds, new modern lighting fixtures, remote control modern dual draft ceiling fans and in unit washer and dryer were installed. In the bathrooms modern square subway tile shower surrounds, new bathroom vanities with quartz countertops, new low-flow toilets and modern faucets and fixtures. Quality exterior capital improvements were made by ownership further enhancing the communities appeal and new ownership moving forward. New smooth stucco with full exterior two tone paint(body, trim, doors), new epoxy walkways, new modern decorative block w

Market Context

This commercial property in Phoenix, AZ is listed for sale at $4,950,000. Compare it against other commercial property listings for sale in Phoenix, AZ — view the full market.

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