2522 W Highland Ave Phoenix, AZ 85017

Listing details for 2522 W Highland Ave, Phoenix, AZ 85017 : We are pleased to offer the opportunity to purchase 6 Palms, a 35-unit garden-style apartment community located in a desirable west Phoenix neighborhood. 6 Palms is a 35-unit garden-style apartment community located in a desirable west Phoenix neighborhood with high barriers to entry. Built in 1964, the property is made of block construction with pitched roofs and is individuallymetered for electricity. The unit mix consists of one and two-bedroom floor plans that are extremely spacious and well designed and average approximately 700 square feet. Interior unit features include fully appointed kitchens with electric appliances, ceramic tile flooring, ample closet space, vertical blinds, ceiling fans and private back patios. This low-density property is situated on approximately 1.23 acres and is attractively landscaped with lush turf and mature shade trees. Community amenities include gazebos with sitting areas and barbeques, a laundry facility, secured access gates and exterior lighting. 6 Palms offers an investor the opportunity to acquire a garden-style apartment community located in a rapidly improving west Phoenix submarket with in-place yield and additional value-add potential. While the average occupancy in metro Phoenix remained relatively flat over the past year, the Central/ Black Canyon submarket occupancy increased by 492 basis points. With the improving submarket fundamentals coupled with the Phoenix market's continual improvement and recovery, 6 Palms is well positioned to achieve continual revenue increase.