- For sale
Two value-add multifamily communities are offered for sale in Phoenix. Urban 188 at 1601 West Camelback Road consists of 188 units and Urban 96 at 1545 West Camelback Road consists of 96 units.
Visit our property website to learn more and to request the offering memorandum.
Urban 188 is composed of three-story block construction on 2.81 acres and consists of studio, one-and two-bedroom unit types within a garden-style layout.
Urban 96 is located adjacent to Urban 188, was built in 1967, and is an attractive, modern mid-century building constructed of block. Updated with modern finishes, this property incorporates four unique floor plans consisting of studios and one-bedrooms.
The properties provide immediate economies of scale, through proximity and operational advantages seldom found elsewhere. Extensively renovated, these assets provide strong yield through their strong performance and historical rent growth. New ownership can focus on operations and improving interior finishes, while common areas and exteriors have already been addressed.
Located along the Valley Metro Light Rail with excellent roadside visibility along Camelback Road, Urban 188 and Urban 96 have transcendent accessibility to the surrounding employment corridors. Located minutes to Uptown, Midtown and Downtown Phoenix, and the prestigious Biltmore region, there are over 193,000 skilled employees within a five-mile radius of the property and over 775,000 jobs within the immediate commute shed.
Many of Greater Phoenix’s major employment hubs are just minutes from the property, with 22 percent of all commute shed employment located within a five-mile radius.
In addition to significant employment, the surrounding area is home to many dining, retail and lifestyle amenities, including Christown Spectrum Mall, Uptown Plaza, Roosevelt Row and Downtown Phoenix.