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Papago Fairways 5343 E Taylor St 51 Unit Apartment Building $13,771,497 CAD ($270,029 CAD/Unit) Phoenix, AZ 85008
Investment Highlights
- Adjacent to the Papago Palms Golf Course
- Includes adjacent land for Future Development
Executive Summary
Civic is pleased to announce the opportunity to acquire Papago Fairways Apartments, a 51-unit value-add, three story community located in Phoenix Arizona adjacent to the 16th tee of the Papago Golf Course. Papago Fairways consists of fifty-one units built in 1989, along with a tri-plex, a single family house and two vacant parcels, enabling the development of additional units spanning Polk St on the South and Taylor St on the North; all while collecting stable income on the existing units in one of Phoenix’s most resilient rental corridors.
Located just north of McDowell Road, off of 52nd St, Papago Fairways offers the Value-add investor/developer a well-positioned investment in a bedroom community, that through a properly conceived improvement/development program, can take advantage of the below market rates currently in place, as well as constructing additional units to capitalize on future growth. Renovated & neighboring properties are charging rental premiums of between $200-$400 per unit.
Located just north of McDowell Road, off of 52nd St, Papago Fairways offers the Value-add investor/developer a well-positioned investment in a bedroom community, that through a properly conceived improvement/development program, can take advantage of the below market rates currently in place, as well as constructing additional units to capitalize on future growth. Renovated & neighboring properties are charging rental premiums of between $200-$400 per unit.
Property Facts
| Price | $13,771,497 CAD | Building Class | C |
| Price Per Unit | $270,029 CAD | Lot Size | 2.11 AC |
| Sale Type | Investment | Building Size | 39,860 SF |
| No. Units | 51 | Average Occupancy | 86% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1989 |
| Apartment Style | Low-Rise | Parking Ratio | 1.96/1,000 SF |
| Zoning | R-4, Phoenix | ||
| Price | $13,771,497 CAD |
| Price Per Unit | $270,029 CAD |
| Sale Type | Investment |
| No. Units | 51 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.11 AC |
| Building Size | 39,860 SF |
| Average Occupancy | 86% |
| No. Stories | 3 |
| Year Built | 1989 |
| Parking Ratio | 1.96/1,000 SF |
| Zoning | R-4, Phoenix |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Storage Space
- Heating
- Eat-in Kitchen
- Vaulted Ceiling
- Refrigerator
- Range
- Views
- Walk-In Closets
- Patio
Site Amenities
- Laundry Facilities
- Gated
- Laundry Service
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | 635 |
| 1+1 | 11 | - | 660 - 900 |
| 2+2 | 24 | - | 900 |
| 2+1 | 3 | - | 700 |
| 3+2 | 1 | - | 1,280 |
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Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 125-04-097 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $313,090 CAD |
Property Taxes
Parcel Number
125-04-097
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$313,090 CAD
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Papago Fairways | 5343 E Taylor St
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