Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$3,500,000
Last Modified:
9/06/2019
Description
28 on Thomas is a 27 unit community built in 1959, and then extensively upgraded in 2015. The ''heavy lifting' of major capital improvements includes new roofs, new AC, new hot water heaters, plumbing and electrical. Ongoing interior upgrades include new kitchens - some with granite countertops, tile floors, and new appliances. The property has a new asphalt parking lot off Thomas Road as well as covered tenant parking at the rear of the buildings. The community features a diverse unit mix between two buildings, each comprised of spacious floor plans and solid block construction around a central grassy courtyard and on site laundry. The property is ideally located within minutes to a light rail station. There is also easy access to the Piestewa Freeway, Interstate 10 and Interstate 17.
Supplements: 28 on Thomas presents a solid opportunity for an investor looking to focus on operations and with minor capital expenditure build on the positive momentum from existing upgrades to better leverage its location and improve returns.
Last Updated: September - 06 - 2019
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