1000 on 5th 1000 W 5th St, Tempe, AZ 85281

Property Highlights:

  • New 19 unit rental townhouse community with builder warranties.
  • Located in the Farmer Arts District close to restaurants & shopping.
  • All large 2 & 3 bedroom units with ensuite bathrooms
  • Attached 2 car garages, pool and small gym.
  • Beautiful quartsite counters, center island and stainless appliances.
  • Great for optional future exit strategy of single unit sales.

Property Description:

RARE NEW BUILD RENTAL TOWNHOUSE COMMUNITY minutes to the hub of Mill and University in heart of Tempe. All units have stainless steel appliances,, beautifully colored quartz counter tops and large island counter for hosting. Extra large windows in the kitchen and open floor plans leading into the dining/living room areas some with double patios. Units feature hard vinyl plank flooring though out with the exception of carpeted stairs. Each unit has attached 2 car garage with direct interior access. All bedrooms are ensuite with lots of storage room. Community swimming pool and gym with resident access only. A truly rare turn key rental project that also has condo option for future single sale upside investment strategy.

1000 on 5th is located in the Farmer Arts District with a high pedestrian score as easy nearby access to restaurants, entertainment and shopping. Close to LRT transit and University campus. Couple blocks to Tempe Lake and the Tempe Arts Centre.

Key Figures

PriceMarket PriceCap Rate5.50%
No. Units19Occupancy100%
Building Size30,734 SFNo. Stories3
Price/UnitYear Built2016
Property TypeMultifamilyLot Size0.96 AC
Property Sub-typeGarden / Low-RiseAPN / Parcel ID124-29-076
Property Use TypeInvestmentParking Ratio
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