Eclipse Apartments
75 Unit Apartment Building | $11,500,000 ($153,333/Unit) | 6% Cap Rate | Phoenix, AZ 85051
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $11,500,000
- Property Type
-
Multifamily
- Square Feet
- 60,000 SF
Listing Contacts
Natasha Alexander
Verified Profile
- Property Info
Property Overview
Eclipse Apartments at 2641 W Butler Drive is a 75-unit, garden-style apartment community established in 1972 and ideally located in Phoenix, Arizona. The attractive unit mix consists of (60%) two-bedroom, (20%) one-bedroom, and (20%) studio unit types, averaging 800 square feet. Each apartment features stainless steel appliances, refurbished kitchens, and vinyl plank flooring. Eclipse Apartments contains four garden-style apartment buildings situated on a 2.62-acre site. The community includes a pool, laundry facility, office, playground, and maintained desert landscaping throughout.
Situated on Butler Drive, residents enjoy direct access to all areas of Phoenix by way of Interstate 17. This apartment community is nestled within a safe suburban community approximately 12 miles west of Downtown Phoenix. Eclipse Apartments offers abundant conveniences for residents and is home to Desert Sky Mall, El Oso Park, and several other shopping centers filled with restaurants and retailers. Good schools surround the property, like Maryvale High School, and colleges nearby, like Grand Canyon University.
Situated on Butler Drive, residents enjoy direct access to all areas of Phoenix by way of Interstate 17. This apartment community is nestled within a safe suburban community approximately 12 miles west of Downtown Phoenix. Eclipse Apartments offers abundant conveniences for residents and is home to Desert Sky Mall, El Oso Park, and several other shopping centers filled with restaurants and retailers. Good schools surround the property, like Maryvale High School, and colleges nearby, like Grand Canyon University.
Property Details
- Class
- C
- Year Built/Renovated
- 1972/2019
- Stories
- 2
- Lot Size (sq. ft)
- 114,127 SF
- Units
- 75
Highlights
- Rare opportunity to acquire a well-maintained multifamily property established in 1972 within a Federal Opportunity Zone.
- Residents enjoy the on-site amenities like a pool, laundry facility, office, playground, and lush desert landscaping.
- Eclipse Apartments consists of 45 two-bedroom units, 15 one-bedroom units, and 15 studios, all averaging 800 square feet.
- Excellent commuter access to Interstate 17, Downtown Phoenix, and nearby areas, including Glendale, Scottsdale, Tempe, and Mesa.
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