offering price: $8,750,000 34 unit multifamily community in … · 2020. 1. 21. · modern...
TRANSCRIPT
ABIMultifamily.com/portfolio/moon-mountain-apartmentsFor more information please visit:MOON MOUNTAIN APARTMENTSMOON MOUNTAIN APARTMENTS
1500 WEST THUNDERBIRD ROAD, PHOENIX, AZ 850231500 WEST THUNDERBIRD ROAD, PHOENIX, AZ 85023
34 Apartment Units Constructed in 2019
All Two-Bedroom / Two-Bathroom Floorplans
Modern Interiors with Shaker Cabinets & Granite Countertops
Full-Size Interior Washer / Dryer, Walk-In Closets
Private Patios, Mountainside Views
Gated Community with Controlled Access & Covered Parking
Resort-Style Swimming Pool
On-Site Management & Leasing Office
Offering Price: $8,750,000 34 Unit Multifamily Community in Phoenix, AZ
ABIMultifamily.com Phoenix Headquarters: 5227 North 7th Street, Phoenix, AZ 85014 Tel: 602.714.1400
PROPERTY OVERVIEW
$8,750,000
$257,353
5.01%
34
Price
Per Unit
Pro Forma CAP
# of Units
Avg SF/Unit 943 SF
Built 2019
MARKET PRO FORMA
Unit Type Count % Total Size (SF) Rent Rent/SF
2 Bed / 2 Bath 34 100.0 943 $1,400 $1.48
Totals / Averages 34 100% 943 $1,400 $1.48
INCOME & EXPENSESIncome Total Per Unit
Gross Scheduled Income $571,200 $16,800
Less: Vacancy (5.0%) ($28,560) ($840)
Net Rental Revenue $542,640 $15,960
Add: Other Income / RUBS $24,650 $725
Effective Gross Income $567,290 $16,685
Expenses
Payroll $13,600 $400
Administration $4,250 $125
Management Fees (3.0%) $17,019 $501
Contract Services $5,950 $175
Repairs & Maintenance $3,400 $100
Turnover $5,950 $175
Utilities $27,200 $800
Insurance $6,800 $200
Real Estate Taxes $40,000 $1,176
Replacement Reserves $5,100 $150
Total Operating Expenses $129,269 $3,802
Net Operating Income $438,021 $12,883
All information provided in reference to the property has been collected from sources deemed reliable. However, no representations or warranties are made as to the accuracy ofsaid information. In addition, no warranty or representation is extended to errors, omissions, change of price or other conditions. Any projections, estimates, opinions, financial orother assumptions are provided for example purposes and do not represent current or future performance of the property. Please consult with your legal, financial and taxprofessionals to make any determinations regarding whether the property is suitable for your needs and purposes.
OFFERING PRICE: $8,750,000
TOTAL UNITS: 34
YEAR BUILT: 2019
Moon Mountain Apartments is a 34-unit property that wascompleted in December of 2019. The property is located inNorth Phoenix at the base of the picturesque Moon Mountain,which is covered with stately saguaro cactus providing a tranquilbackground for contemporary, modern living. The units arespacious 943 SF two-bedroom / two-bathroom floorplans withmodern interiors. The well-appointed kitchens include shakercabinets, granite countertops, modern fixtures and finishes, andpantry space. Each unit is also outfitted with a full-size washerand dryer for convenience. Each apartment home also enjoyswalk-in closets and private balconies with mountainside views, aswell as two covered parking spaces. Common area amenitiesinclude a resort-inspired swimming pool and grilling stations andfeatures office space for convenient on-site management andleasing. The property is also secured by pedestrian gates as wellas controlled access gated entry for exclusivity and an addedsense of security. Moon Mountain Apartments was well-receivedby the market and leased more than 1/3 of the units in the firstweeks after opening.
MOON MOUNTAIN APARTMENTS1500 WEST THUNDERBIRD ROAD, PHOENIX, AZ
PRIMARY LISTING ROYCE MUNROECONTACT: Vice President
Phoenix Sacramento San Diego TucsonABI MULTIFAMILY OFFICES:
MOON MOUNTAIN APARTMENTS
For more information please visit: ABIMultifamily.com/portfolio/moon-mountain-apartments