On the Market: This Week’s Most Interesting CRE Listings
Check out the week's most interesting for-sale CRE assets.
On the Market is a new department curating the week’s most interesting for-sale CRE assets. If you have a commercial real estate asset that you’d like to share with our readers, please email it to Mallory Bulman, Associate Editor.
Rancho La Fuente
Location:Â Phoenix, Ariz.
Offering Price: $2.79 million
Price/Unit: $49,911
Price/Square Foot: $87.21
Year Built: 1978
Units: 56
Features: Currently 100 percent occupied; value-add opportunity with below-market rents; individually metered for electricity; individual hot water heaters in units; popular submarket location in Bell Corridor.
Contact: John Kobierowski, ABI Multifamily – 602-714-1384
Third & 4thÂ
Location:Â Fort Lauderdale, Fl.
Land Acreage:Â .7031
Land SF:Â 30,625
Zoning:Â RAC-CC
Features:Â Average area housing value of $633,500; Walkability score of 91 out of 100; direct connectivity to new Wave Streetcar improves accessibility to downtown Fort Lauderdale,
Contact: Greg Engler, Walker & Dunlop – 404-832-7613
Bella Solano Apartment Homes
Location: Phoenix, Ariz.
Offering Price: Market
Units: 160
Year Built: 1973, phase II 1985
Renovations: Interiors in 2008; exterior/common areas in 2012
Features: Adjacent to Light Rail; individual HVAC in each unit; consistently 95 percent occupied; value-add opportunity through additional renovations.
Contact: Alon Shnitzer, ABI Multifamily – 602-714-1283
Desoto Villa Apartments
Location: Arcadia, Fla.
Asking Price: $1.11 million
Price/Unit: $32,794
Units: 34
CAP Rate: 8.50 percent
Features: Third-party management already secured at 8 percent fee; concrete block construction; value-add opportunity.
Contact: Kyle Keelan, NAI Tampa Bay – 727-251-5953
Verona at the Reserve
Location: Katy, Texas
Units: 356
Year Completed: 2011
Average SF: 951
Effective Rent/Month: $1,302
Effective Rent/SF: $1.37
Features: Class A+ asset; convenient access to I-10, Westpark Tollway and Grand Parkway, quick commute to Houston; area population growth projected at 14 percent over the next five years; average household income of $112,967; zoned in the highly-coveted Katy ISD school district.
Contact: David Oelfke, ARA Newmark – 713-425-5405
