1827 East Lemon Street, Tempe, AZ, 85281, US

Alegre Park

Asset Description

JLL is pleased to present Alegre Park, a 24-unit garden-style apartment community located in North Tempe. Built in 1961, the community is made of block construction with built-up pitched composition roofs and is individually metered for electricity. Alegre Park provides an investor the rare opportunity to acquire a previously renovated asset with additional upside potential in the fastest growing submarket in the southwest.

Alegre Park is prominently located minutes from major economic drivers in the region including Arizona State University, the expanding cluster of Fortune 500 employment in Downtown Tempe, and walkable to the Valley Metro Light Rail on McClintock Dr /Apache Blvd. In addition, Alegre Park's ideal location provides residents excellent access to the expanding employment corridors of Metro Phoenix via the Loop 101 freeway.

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Attributes

Asking price

PLN 20,690,000

Number of units

Year built

1961

Building area net

1,158 m²

Land area gross

0 m²

Media

Investment Highlights

Meticulously Maintained And Extensively Renovated Mid-Century Community
Mark-To-Market Potential With Additional Value-Add Upside
Close Proximity to Tempe’s Prominent Office Market And Expanding Corporate Employment Base