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1855 E Don Carlos Ave
Tempe, AZ 85281
Element at Tempe North · Multifamily Property For Sale
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56 Units
Investment Highlights
- All Two- and Three-Bedroom Floor Plans
- 1987 Construction
- Additional Value-Add Opportunity Through Interior Renovations & Washer/Dryer Installation
- Nearly 60% of the Units Have Been Extensively Renovated
- Individually Metered for Electricity
- Dynamic Tempe Location Near Arizona State University and Tempe Marketplace
Executive Summary
JLL is pleased to introduce Element at Tempe North, an exceptional investment opportunity located in Tempe, Arizona. Built in 1985, the Property is composed of wood frame and stucco construction and is individually metered for electricity. The garden style community contains 56 units and consists of all two- and three-bedroom floor plans. Partially renovated by current ownership, Element at Tempe North stands out with premium interior finish levels. As such, Element at Tempe North offers investors a distinctive opportunity to invest in a highly stable and exceptionally located apartment community while still providing a significant value-add opportunity through continuing interior renovations.
Element at Tempe North presents a unique opportunity for investors looking to capitalize on growing demand for multifamily housing in the Tempe near Arizona State University. With a strategic location in a well-located neighborhood, the Property benefits from its proximity to various amenities, including restaurants, shopping centers, and recreational facilities. Its convenient access to SR-101, SR-202, and Sky Harbor International Airport make Element at Tempe North an attractive option for renters looking for easy accessibility.
Element at Tempe North presents a unique opportunity for investors looking to capitalize on growing demand for multifamily housing in the Tempe near Arizona State University. With a strategic location in a well-located neighborhood, the Property benefits from its proximity to various amenities, including restaurants, shopping centers, and recreational facilities. Its convenient access to SR-101, SR-202, and Sky Harbor International Airport make Element at Tempe North an attractive option for renters looking for easy accessibility.
Property Facts In Escrow
| Price Per Unit | $279,080 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 2.13 AC |
| No. Units | 56 | Building Size | 42,600 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1987/2017 |
| Apartment Style | Garden | Parking Ratio | 2.86/1,000 SF |
| Zoning | M-H | ||
| Price Per Unit | $279,080 CAD |
| Sale Type | Investment |
| No. Units | 56 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 2.13 AC |
| Building Size | 42,600 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1987/2017 |
| Parking Ratio | 2.86/1,000 SF |
| Zoning | M-H |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Washer/Dryer
- Heating
- Kitchen
- Granite Countertops
- Refrigerator
- Oven
- Tub/Shower
- Freezer
- Patio
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Pool
- Property Manager on Site
- Gated
- Pet Play Area
- Maintenance on site
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 52 | - | 754 |
| 3+1.5 | 4 | - | 850 |
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 CAD | |
| Land Assessment | $44,667 CAD | Total Assessment | $446,665 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$44,667 CAD
Improvements Assessment
$0 CAD
Total Assessment
$446,665 CAD
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