Escarlata 31 — Sale in Phoenix, AZ

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Phoenix, AZ 85032

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Description

Escarlata 31 (“the property”) is an 87-unit multifamily community located in the rapidly evolving North Phoenix submarket, offering investors a compelling combination of value-add upside, attractive existing financing, and exposure to one of the Valley’s most significant emerging employment corridors. Escarlata 31 benefits from a strong infill location with walkability to newly developed retail at the adjacent intersection, a grocery store directly across the street, and Paradise Valley Community College less than two miles away. The property is also less than five miles from Desert Ridge Marketplace, providing convenient access to one of North Phoenix’s premier concentrations of shopping, dining, and entertainment. The surrounding submarket continues to benefit from substantial retail, infrastructure, and employment investment, while the broader North Phoenix corridor is being transformed by the emergence of a major advanced-manufacturing and technology ecosystem anchored by TSMC’s massive semiconductor campus. Located less than a 25-minute commute from TSMC, Escarlata 31 is well positioned to benefit from the thousands of direct and indirect jobs and continued economic development associated with the semiconductor industry’s expansion. With its value-add potential, assumable financing, strong neighborhood amenities, and positioning within the continued growth of North Phoenix, Escarlata 31 presents a compelling opportunity for long-term value creation. Investment Highlights: • Built in 1984 and 1985, the property features an advantageous unit mix with approximately 67% two-bedroom floorplans, while only 61% of the units have received full interior renovations inclusive of i • The offering is further distinguished by highly attractive assumable financing through the property's existing CMBS loan, creating a unique advantage relative to prevailing acquisition financing. • Escarlata 31 benefits from a strong infill location with walkability to newly developed retail

Market Context

This multifamily in Phoenix, AZ is listed for sale. Compare it against other multifamily listings for sale in Phoenix, AZ — view the full market.

As of Q1 2026, the Phoenix multifamily market showed a 12.1% vacancy rate, average asking rents near $1561.50/unit/mo, rents up 2.9% year over year, and cap rates around 5.9%. Source: multiple brokerage reports, Q1 2026.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

What is the typical cap rate for multifamily in Phoenix?
About 5.9% as of Q1 2026, per multiple brokerage reports.
Is the Phoenix multifamily market tightening or softening?
Vacancy is around 12.1%, with asking rents rising year over year (Q1 2026).

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