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2014 W Berridge Ln
Phoenix, AZ 85015
Signature 18 · Multifamily Property For Sale
·
18 Units
INVESTMENT HIGHLIGHTS
- Central Phoenix gated community with strong rental demand
- Updated units with stainless appliances, tile bathrooms, wood flooring, and in-unit laundry
- Recent capital improvements: landscaping, lighting, security, and exterior upgrades
EXECUTIVE SUMMARY
Signature 18 is a stabilized, gated 18-unit multifamily community located in the heart of Central Phoenix. The property offers strong in-place pro-forma performance with a 6.23% proforma cap rate and a projected NOI of $297,317. Its prime infill location provides proximity to Abrazo Hospital’s Central Campus, Christown Spectrum Mall, major employment centers, and convenient transit options.
Under current ownership, the property has undergone extensive improvements including new desert landscaping, repaved parking areas, refreshed exterior paint and trim, modern LED motion-sensing lighting, upgraded security cameras, and newly installed modern gate locks. Operational upgrades include roof resealing with new elastomeric coating and pool pump enhancements for long-term efficiency.
Interior renovations feature updated kitchens with stainless steel appliances, contemporary tile bathrooms, wood flooring, built-in closets, and in-unit washers/dryers in select units. These improvements increase tenant appeal and support continued rent growth.
Signature 18 offers stable cash flow, minimal deferred maintenance, and long-term upside through continued interior improvements and market rent optimization. A turn-key multifamily asset in a high-demand Phoenix submarket. Full OM and financials available upon request.
Under current ownership, the property has undergone extensive improvements including new desert landscaping, repaved parking areas, refreshed exterior paint and trim, modern LED motion-sensing lighting, upgraded security cameras, and newly installed modern gate locks. Operational upgrades include roof resealing with new elastomeric coating and pool pump enhancements for long-term efficiency.
Interior renovations feature updated kitchens with stainless steel appliances, contemporary tile bathrooms, wood flooring, built-in closets, and in-unit washers/dryers in select units. These improvements increase tenant appeal and support continued rent growth.
Signature 18 offers stable cash flow, minimal deferred maintenance, and long-term upside through continued interior improvements and market rent optimization. A turn-key multifamily asset in a high-demand Phoenix submarket. Full OM and financials available upon request.
PROPERTY FACTS
| Price Per Unit | $365,416 CAD | Lot Size | 0.63 AC |
| Sale Type | Investment | Building Size | 15,200 SF |
| Cap Rate | 6.23% | Average Occupancy | 100% |
| No. Units | 18 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1961/2023 |
| Property Subtype | Apartment | Parking Ratio | 1.71/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | R-4 | ||
| Price Per Unit | $365,416 CAD |
| Sale Type | Investment |
| Cap Rate | 6.23% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.63 AC |
| Building Size | 15,200 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1961/2023 |
| Parking Ratio | 1.71/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-4 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Kitchen
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Walk-In Closets
- Vinyl Flooring
SITE AMENITIES
- Clubhouse
- Pool
- Gated
- Pet Play Area
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | $1,689 CAD | 600 |
| 2+1 | 6 | $2,068 CAD | 800 |
| 3+2 | 8 | $2,654 CAD | 1,000 |
PROPERTY TAXES
| Parcel Number | 156-13-086A | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $83,980 CAD |
PROPERTY TAXES
Parcel Number
156-13-086A
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$83,980 CAD
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