Coolidge Apartments

12 Unit Apartment Building | $2,575,000 ($214,583/Unit) | 5.01% Cap Rate | Phoenix, AZ 85015

Asking Price $2,575,000

Property Type: Multifamily
Square Feet: 7,899 SF

Listing Contacts

Joshua Landers

Verified Profile

Property Info

Property Overview

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!!!

Property Details

Class: C
Year Built/Renovated: 1966/2021
Stories: 1
Lot Size (sq. ft): 36,590 SF
Units: 12

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