The Ark_Property for Sale
The Ark_Property for Sale
North 45th Place 4120, Phoenix, AZ, 85018, US

The Ark

Asset Description

JLL is pleased to present The Ark, a 10-unit boutique garden style multifamily community in a dynamic Arcadia Submarket. Built in 1960, the community is made of block construction with pitched composition roofs and is individually metered for electricity. Current ownership completed an extensive rebrand/reposition in 2023 that modernized the asset with sophisticated design, enhanced amenities, and elevated interior finish levels.


The Ark represents a rare opportunity for an investor to acquire a masterfully remodeled and repositioned property with spacious one, two and three-bedroom floor plans that average ±719 square feet. The premium contemporary finishes and upscale curb appeal distinguish the community as a best-in-class asset that complements the burgeoning commercial centers and professional workforce demographic of East Phoenix.


The community is in a sought-after location near the Biltmore/Camelback Corridor office employment hub and the newly designated bioscience hub in Midtown Phoenix, numerous entertainment venues and unique local dining experiences, and minutes to the I-51 freeway. East Phoenix is one of the most resilient submarkets in the metro as average vacancy rates improved by 68 bps over the previous two quarters, further underscoring the demand and desirability of the area.

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Attributes

Asking price
CN¥20,619,000
Number of units
10 units
Occupancy
100%
Year built
1960
Building area net
668 m²
Land area gross
0 m²

Media

Investment Highlights

  • Boutique Garden-Style Community with Best-in-Class Contemporary Interior Finishes


  • Low Maintenance Asset with an Attractive Unit Mix


  • Minutes From the Prominent Camelback-Biltmore Employment Corridor


  • Exclusive Location in East Phoenix’s Exclusive Arcadia Neighborhood
The Ark 4_Property for Sale
The Ark 4_Property for Sale

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The Ark (0 Properties)

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Last updated
7 May 2024