Log In/Sign Up
Your email has been sent.
Coolidge Apartments 2340-2348 W Coolidge St 12 Unit Apartment Building $2,993,949 CAD ($249,496 CAD/Unit) 5.46% Cap Rate Phoenix, AZ 85015
Investment Highlights
- Strong historical occupancy with current rents below market, creating value-add potential.
- Excellent transit access with bus routes on 23rd Avenue and Camelback Road and Light Rail nearby.
- Composed of 12 units across six buildings, including private yards and carports for tenant convenience.
- Positioned within a federally designated Opportunity Zone, offering potential tax benefits.
- Located in Midtown Phoenix near major employment hubs and Grand Canyon University.
Executive Summary
The Coolidge Apartments are comprised of two parcels and six buildings, housing eleven two bedroom units and one studio unit, all individually metered for electricity and all with air conditioning. The five duplex buildings are all two bedroom units with updated electrical, individual yards, storage, tenant favored private driveways and carports allowing tenants to park right next to their unit and unload groceries directly into the kitchen! These amenities help keep turnover to a minimum! The current rents are under market as these features are being overlooked, and consequently occupancy has always been excellent! Tenants are responsible for their own electric expense.
Tenant pays water/sewer/trash with the City of Phoenix. Located in Mid-Town Phoenix near 23rd Avenue and Camelback Road, the Coolidge Apartments offer a variety of employment opportunities just a short distance away. Also close by is the Grand Canyon University. Mass transit is available on 23rd Avenue and also along Camelback Road – with the Light Rail (which takes riders by both ASU campuses) at 19th Ave and Camelback!!!
Fully renovated in 2024 with updated electrical systems and modernized features.
Tenant pays water/sewer/trash with the City of Phoenix. Located in Mid-Town Phoenix near 23rd Avenue and Camelback Road, the Coolidge Apartments offer a variety of employment opportunities just a short distance away. Also close by is the Grand Canyon University. Mass transit is available on 23rd Avenue and also along Camelback Road – with the Light Rail (which takes riders by both ASU campuses) at 19th Ave and Camelback!!!
Fully renovated in 2024 with updated electrical systems and modernized features.
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Financial Summary (Actual - 2023) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,993,949 CAD | Building Class | C |
| Price Per Unit | $249,496 CAD | Lot Size | 0.84 AC |
| Sale Type | Investment | Building Size | 7,899 SF |
| Cap Rate | 5.46% | Average Occupancy | 100% |
| No. Units | 12 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1966/2024 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Garden | ||
| Zoning | R-3 - Multifamily Residential | ||
| Price | $2,993,949 CAD |
| Price Per Unit | $249,496 CAD |
| Sale Type | Investment |
| Cap Rate | 5.46% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.84 AC |
| Building Size | 7,899 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1966/2024 |
| Opportunity Zone |
Yes |
| Zoning | R-3 - Multifamily Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $444.31 CAD | 350 |
| 2+1 | 10 | $1,740 CAD | 850 |
| 3+2 | 1 | $1,846 CAD | 1,600 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Total Assessment | $40,038 CAD (2025) | |
| Land Assessment | $0 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $0 CAD (2025) | Tax Year | 2023 |
Property Taxes
Parcel Numbers
Land Assessment
$0 CAD (2025)
Improvements Assessment
$0 CAD (2025)
Total Assessment
$40,038 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2023
1 of 12
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Coolidge Apartments | 2340-2348 W Coolidge St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.