Apartments For Sale
12,400 Sq Ft
Tides at Scottsdale is a 24-unit garden-style apartment community located in an irreplaceable Scottsdale location that was recently renovated and repositioned. The property is situated on the southwest corner of 1st Avenue and Main Street just south of Indian School Road. Built in 1970, the property is made of block construction with built-up roofs and is individually-metered for electricity.
The unit mix is comprised of studio and one-bedroom floorplans that are extremely spacious, very well designed and range in size from 500 to 700 square feet. Interior unit features include fully appointed kitchens with full-size stainless-steel appliances, new shaker style kitchen cabinets and quartz countertops, individual water heaters, ceiling fans. The property is situated on approximately .53 acres and is professionally landscaped with lush turf, mature shade trees and low maintenance desert plants. Exterior amenities includea resort style swimming pool with pool furniture and gas barbeques, exterior lighting, on-site laundry facility.
Tides at Scottsdale offers an investor the rare opportunity to acquire a recently renovated asset located in an exceptional south Scottsdale location. In the first quarter of 2018, the submarket rents averaged $1.47 and have increased 8% over year. Furthermore, the average submarket vacancy has steadily decreased over the last several quarters with occupancy rates steadily remaining over 94% year-over-year, significantly greater than the metro Phoenix average. Strategic path of growth positions Regency Park to benefit from accelerating fundamentals across the Phoenix metro. Numerous economic forecasts project Phoenix to lead major western markets in employment and population growth through 2018.