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West Edge at Thunderbird 14001-14007 N Primrose St 32 Unit Apartment Building $8,087,040 CAD ($252,720 CAD/Unit) 6.43% Cap Rate El Mirage, AZ 85335
Investment Highlights
- Over $30,000 per unit of capital improvements/renovations during the current hold period.
- Located in the rapidly transforming North West Valley with proximity to TSMC's campus ($165 billion foreign investment).
- Unique single-level, low-density mid-sized property. All units equipped with oversized private front yards.
Executive Summary
Built in 1980 and renovated in 2022, West Edge at Thunderbird offers 32 units covering an average of 448 square feet - each complete with large private yards and in-suite laundry (select units). The property has seen interior and exterior renovations of just over $30,000 per unit in capital expenditures during the current hold. Future ownership will have the opportunity to upgrade 23 of the units to include in-suite laundry and benefit from future rent growth associated with the continued economic boom experienced in North West Phoenix.
Property Facts
| Price | $8,087,040 CAD | Building Class | C |
| Price Per Unit | $252,720 CAD | Lot Size | 1.06 AC |
| Sale Type | Investment | Building Size | 14,341 SF |
| Cap Rate | 6.43% | No. Stories | 1 |
| No. Units | 32 | Year Built/Renovated | 1980/2022 |
| Property Type | Multifamily | Parking Ratio | 2.3/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Garden | ||
| Zoning | R-1A, El Mirage | ||
| Price | $8,087,040 CAD |
| Price Per Unit | $252,720 CAD |
| Sale Type | Investment |
| Cap Rate | 6.43% |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.06 AC |
| Building Size | 14,341 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1980/2022 |
| Parking Ratio | 2.3/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-1A, El Mirage |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Trash Pickup - Curbside
- Online Services
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 236 |
| 1+1 | 16 | - | 400 |
| 1+1 | 7 | - | 415 |
| 2+1 | 8 | - | 600 |
1 1
Fairly walkable
40/100
Moderately drivable
70/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 CAD | |
| Land Assessment | $3,412 CAD | Total Assessment | $62,827 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$3,412 CAD
Improvements Assessment
$0 CAD
Total Assessment
$62,827 CAD
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West Edge at Thunderbird | 14001-14007 N Primrose St
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