Nightingale on 25th
LocationPhoenix, AZ
Size240 Units
Value$1,084.00 M
TypeSale
BlueGate Partners in conjunction with Newmark Knight Frank presents Nightingale on 25th. Located in North Phoenix and within minutes of Downtown Phoenix, State Farm Stadium, the Glendale Sports and Entertainment District, Desert Sky Mall and the American Family Fields of Phoenix, this 240-unit multifamily community is surrounded in all directions by the metro’s more popular amenities. Within 3-miles of the property there is 6M SF of office space and 8.2M SF of retail inventory. There are over 3,400 businesses and 56,000 employees.
The culmination of affordability and relaxed living offers Nightingale on 25th inhabitants quick access to offerings that elevate their quality of life through entertainment and convenience of location.
Built in 1975, this multifamily investment offers proven value-add results through interior renovations. It is a community positioned well for an additional value-add program as approximately 50% of the units have been renovated. Through incremental rent generated from updated units, this property has already proven its ability to continue increasing revenue through additional interior renovations.
The Property offers apartment homes in a two-story, garden-style community with a sparkling pool and beautiful landscaping. The proximity to employment, education, and entertainment situates this community as a great fit for a broad demographic.
INVESTMENT HIGHLIGHTS
• Tremendous value-add opportunity through continued interior renovations
• Proximity to Glendale Community College, Grand Canyon University and ASU West
• World-class sports arenas and entertainment nearby
• Surrounded by employment opportunities with several recent job announcements
• Submarket experiencing significant rent growth