For Sale
$1,799,000

3330 Buckeye RdPhoenix, AZ 85009

12-Unit Apartment Complex, Fully Renovated

Overview

Added:
Dec 11, 2024
Days on market:
119
This exceptional investment opportunity presents a fully renovated 12-unit apartment building in Phoenix, Arizona. The property, known as Tri Pak Apartments, boasts a desirable location at 3330 W Buckeye Rd, 85009, within Maricopa County. Comprising two single-story buildings totaling 4,550 square feet of net rentable space, the complex includes six studio, five one-bedroom, and one two-bedroom unit, achieving 100% occupancy. Built in 1956 and extensively renovated in 2023, the property features a new roof, updated AC units, fresh paint, improved landscaping, and upgraded parking. The significant $1,799,000 asking price translates to $149,917 per unit, offering a compelling 6.73% cap rate with a current Net Operating Income (NOI) of $121,014. The property sits on a 0.32-acre lot and is zoned R3. Two additional parking pads are available for residents. This stabilized investment presents a strong return on investment with its high occupancy rate and recent renovations, making it an attractive addition to any portfolio. The property's APN is 109-58-086, 109-58-087.

Highlights

  • $1,799,000 asking price for a stabilized multifamily investment.
  • 12-unit apartment building with 100% occupancy generating $121,014 NOI and a 6.73% cap rate.
  • 4,550 square feet of net rentable space, averaging $149,917 per unit.
  • Recently renovated (2023) Class C property with 2 buildings on a 0.32-acre lot in Phoenix, AZ.
  • Features 6 studios, 5 one-bedroom, and 1 two-bedroom unit, plus 2 parking pads.
  • Built in 1956, with R3 zoning.

Property Details for 3330 Buckeye Rd

Property type
Apartment buildings
Class
C
Year Built/Renovated
1956/2023
Buildings
2
Stories
1
Lot Size (sq. ft)
13,939 SF
Units
12

Location Insight

City
Phoenix
County
Maricopa
State
Arizona
Latitude
33.437269
Longitude
-112.1316945
3330 Buckeye Rd, Phoenix, Arizona

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3330 Buckeye Rd
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