Share This Listing

Message

943 characters remaining

Hmm, there seems to have been an error sending your message. Please try again.

Your email has been sent.

Still interested?

Contact the brokers for more information about this property

Investment Highlights

  • 28 Total Units, Completed in 1985
  • Individually Metered for Electricity & Individual HVAC's / Hot Water Heaters
  • Long-Term Ownership Since 2014
  • All 2-Bedroom Unit Types (2-Bedroom / 1.5-Bathroom (71.4%) & 2-Bedroom / 2-Bathroom (28.6%), 736 Average Square Footage
  • Value-Add Opportunity (Only 10 Units With Washer / Dryer Hook-ups & Appliances)
  • Offered All Cash / New Loan

Executive Summary

Paradise Arbor Apartments is a 28-unit garden-style apartment community located in the Northeast submarket of Phoenix, AZ. Situated on East Paradise Lane midway between East Greenway Road and Bell Road, residents enjoy direct access to all areas of the Phoenix Valley by way of the Piestewa Freeway (State Route 51) and the Pima Freeway (Loop 101). In addition, there are numerous dining and entertainment options in close proximity to the property, including Desert Ridge Marketplace, one of the most popular retail power centers in the Phoenix Metro with 1.2 million square feet of retail space and the Kierland Commons, an upscale lifestyle center featuring more than 70 high-end specialty stores and restaurants on 437,000 square feet in an upscale main-street format.

Built in 1985, the property is constructed of a combination wood frame / masonry with pitched composition shingle roofs. The unit mix consists of 20 two-bedroom / one-and-a-half bath units and 8 two-bedroom / two-bath units with a weighted average of 736 square feet. Each unit is individually metered for electricity and features individual hot water heaters and HVAC’s. Interior amenities include air conditioning / heating, and kitchens fully equipped with dishwasher, garbage disposal, range / oven, and refrigerator. Select units offer in-unit washer / dryer and patio or private backyards. The community also provides its residents with a swimming pool, one laundry facility, a barbeque / picnic area, and open / covered parking.

Significant nearby employers include the Mayo Clinic, Paradise Valley Community College, Abrazo Scottsdale Campus, Deer Valley Airport / Airpark, Farmers Insurance, American Express, USAA, Discover, and PetSmart.

Financial Summary (Pro Forma - 2026) Click Here to Access

Annual (CAD) Annual Per SF (CAD)
Gross Rental Income - -
Other Income - -
Vacancy Loss - -
Effective Gross Income $99,999 $9.99
Taxes - -
Operating Expenses - -
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

Financial Summary (Pro Forma - 2026) Click Here to Access

Gross Rental Income (CAD)
Annual -
Annual Per SF -
Other Income (CAD)
Annual -
Annual Per SF -
Vacancy Loss (CAD)
Annual -
Annual Per SF -
Effective Gross Income (CAD)
Annual $99,999
Annual Per SF $9.99
Taxes (CAD)
Annual -
Annual Per SF -
Operating Expenses (CAD)
Annual -
Annual Per SF -
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 $6,752,102 CAD
Price Per Unit $241,146 CAD
Sale Type Investment
No. Units 28
Property Type Multifamily
Property Subtype Apartment
Apartment Style Garden
Building Class C
Lot Size 0.98 AC
Building Size 20,600 SF
Average Occupancy 96%
No. Stories 2
Year Built/Renovated 1985/2024
Parking Ratio 4.13/1,000 SF

Amenities

Unit Amenities

  • Air Conditioning
  • Balcony
  • Heating
  • Kitchen
  • Refrigerator
  • Oven
  • Range
  • Tub/Shower
  • Freezer

Site Amenities

  • 24 Hour Access
  • Courtyard
  • Laundry Facilities
  • Picnic Area
  • Pool
  • Grill
  • Maintenance on site

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1.5 20 - 730
2+2 8 - 750
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
60/100

Property Taxes

Property Taxes

Parcel Number
214-31-024
Land Assessment
$0 CAD (2025)
Improvements Assessment
$0 CAD (2025)
Total Assessment
$169,705 CAD (2025)
  • Listing ID: 40601130

  • Date on Market: 2026-05-20

  • Last Updated:

  • Address: 3102 E Paradise Ln, Phoenix, AZ 85032

Link copied
Your LoopNet account has been created!

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, "rating") }}
255 character limit ({{ remainingChars() }} charactercharacters remainingover)
{{ getErrorText(feedbackForm.msg, "rating") }}
{{ getErrorText(feedbackForm.fname, "first name") }}
{{ getErrorText(feedbackForm.lname, "last name") }}
{{ getErrorText(feedbackForm.phone, "phone number") }}
{{ getErrorText(feedbackForm.phonex, "phone extension") }}
{{ getErrorText(feedbackForm.email, "email address") }}