Phoenix, Arizona Heritage Park is a two-story apartment community built in 1984, comprising 22 rental units. The unit mix is 45% one-bedroom and 55% two-bedroom /...
Apartment Building - Heritage Park
Status: Price: Bldg. Size: Units: Cap Rate: Primary Type: Sub-Type:
Active $540,000 16,000 SF 20 7.37% Multifamily Garden/Low-Rise
Highlights
Individually metered with a pitched shingle roof
Close proximity to area amenities, including: Phoenix Spectrum Mall, Solano Park, YMCA, and public library
Located blocks from the Valley' s METRO light rail system providing access to Downtown Phoenix, Tempe, and Mesa
Description
Heritage Park is a two-story apartment community built in 1984, comprising 22 rental units. The unit mix is 45% one-bedroom and 55% two-bedroom / one bath units. Construction is of wood and painted stucco, with pitched composite shingle roofs. Heating and cooling is provided by individual roof and wall-mounted air conditioning units. The utility costs associated with heating and cooling are the responsibility of the tenant. The property is individually-metered for electricity, and the costs associated with usage inside the dwelling units are also the responsibility of the tenant. The cost of water, sewer charges, and trash collection is the responsibility of the owner.
Common amenities include a swimming pool, laundry facility and covered parking spaces, plus additional open parking spaces. Unit amenities include microwave ovens and refrigerators. The property has a separate leasing office.
The one building of Heritage Park is constructed on two rectangular lots comprising approximately 0.73 acres, at a density of 30.13 units per acre.
Heritage Park is located at 1545 W. Denton Lane in Phoenix, Arizona. The property is situated three blocks north of Camelback Road, a major east-west thoroughfare running through Phoenix and Scottsdale. The highly desirable Camelback Corridor is home to Phoenix' s prominent retail and office developments. Employment opportunities are concentrated along Camelback Road and Central Avenue, which runs north and south through the Downtown Financial District.
Christown Spectrum Mall is two blocks north of the property, providing employment opportunities and shopping / entertainment destinations. Spectrum Mall incorporates big box retailers such as Wal-Mart, Target and Costco. Heritage Park is also convenient to public transportation, with bus service provided along Camelback Road and the METRO Light Rail System running along Camelback and 19th Avenue, one-quarter mile to the west.
The area immediately surrounding Heritage Park is comprised of a wide range of property uses, but is primarily residential in composition to the south, and commercial to the north. Solano Elementary School is one block to the north. Additional public education opportunities are nearby as well.
