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1025 N 48th St
Phoenix, AZ 85008
Papago Gardens Apartments · Multifamily Property For Sale
·
104 Units
Investment Highlights
- Desirable Papago Park Corridor Location with High Barriers to Entry
- 85% Two-Bedroom Floor Plans that Average 900 Square Feet
- 1986 & 1981 Construction
- Value-Add Potential Through Interior Renovations
- 18-Years of Continuous Ownership at Papago Gardens
- Excellent Nearby Amenities Including Papago Park, Tempe Town Lake, Tempe Marketplace, and Downtown Tempe
Executive Summary
JLL is pleased to introduce The Phoenix 6, a six-property, 393-unit, multifamily portfolio strategically positioned across three of Phoenix’s most coveted submarkets — the Papago Park corridor, the Biltmore/Arcadia district, and Midtown Phoenix with an average of 16+ Years of Continuous Ownership. The Portfolio is comprised of five distinct offerings: Papago Gardens and The Villas at Papago, a two-property assemblage situated on contiguous parcels along the North 48th Street corridor; Santorini Villas, also along the 48th Street corridor; Camelback Courtyard and Cactus Canyon within the prestigious Biltmore and Arcadia neighborhoods; and Partenza on Highland, situated in the heart of Uptown Phoenix. The Portfolio consists of nearly 80% two-bedroom floor plans and additionally offers studios, one-, two-, and three-bedroom floor plans, providing broad renter demographic appeal and diversification across asset types and locations.
Property Facts
| Sale Type | Investment | Building Class | C |
| No. Units | 104 | Building Size | 86,200 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1986 |
| Apartment Style | Garden | Parking Ratio | 1.62/1,000 SF |
| Zoning | R-4, Phoenix | ||
| Sale Type | Investment |
| No. Units | 104 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Building Size | 86,200 SF |
| No. Stories | 2 |
| Year Built | 1986 |
| Parking Ratio | 1.62/1,000 SF |
| Zoning | R-4, Phoenix |
Amenities
Unit Amenities
- Balcony
- Dishwasher
- Disposal
- Storage Space
- Washer/Dryer
- Washer/Dryer Hookup
- Kitchen
Site Amenities
- 24 Hour Access
- Clubhouse
- Laundry Facilities
- Picnic Area
- Spa
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 92 | - | 866 |
| 1+1 | 12 | - | 650 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 CAD | |
| Land Assessment | $74,767 CAD | Total Assessment | $522,721 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$74,767 CAD
Improvements Assessment
$0 CAD
Total Assessment
$522,721 CAD
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