Living / Multi-housing

Tempe Metro 2022

1811 E Apache Blvd Tempe, Arizona United States 85281-6088
Asking Price Contact for pricing
Area Size
NOI Net Operating Income
NIY N/A

Attributes

Year Built 2010
Building Area Net
Land Area Net ()
Number of units 408
Occupancy 93.0 %
Call for Offers 2022-03-09

Asset Description

​​​​​​​Jones Lang LaSalle Americas, Inc. is pleased to present the opportunity to acquire Tempe Metro Apartments (the “Property” or “Tempe Metro”), a 408-unit apartment community located in Tempe, Arizona. Constructed in 2010, Tempe Metro is situated just west of the 101 freeway on the Valley Metro light rail. This prime North Tempe location offers residents convenient access to downtown Tempe, Arizona State University as well as retail destinations like Tempe Marketplace and Mesa Riverview. The Property’s southwest valley location is also proximate to many major employment corridors with easy access to the entire Phoenix metro via the 101 and loop 202. Tempe Metro offers residents well-appointed studio, one, two, and three-bedroom floor plans averaging 650 square feet in size. The Property is luxuriously amenitized, featuring a resort style swimming pool and spa, resident clubhouse with work areas, a fully- equipped fitness center, and a private, rooftop basketball court. Current ownership has invested over $3.5 million into the property but left unit interiors in mostly classic condition. The majority of renovations have been done to bolster common areas making Tempe Metro an ideal opportunity for investors to acquire an attractive North Tempe asset with immense growth potential. Tempe Metro is offered free and clear, enabling investors to take advantage of the favorable current financing environment.

Investment Highlights

  • Conversion Of Pre-Existing, Vacant Retail Space Into Innovative Amenities
  • Excellent Value-Add Opportunity 
  • Immediate Proximity To Major Employment Hubs
  • Competitively Priced With Opportunity To Grow In-Place Rents
  • Adjacent To Arizona State University's Main Campus
  • Substantial Renter Demand Generated By Elevated Home Prices 
  • Outstanding Accessibility To The Entire Metro Area
Last Updated Date: 25 Jan 2022

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Last Updated Date: 25 Jan 2022

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