Ocotillo Apartments & Hotel 1711 W Bell Rd Immeuble residentiel 150 lots 14 457 630 € (96 384 €/Lot) Taux de capitalisation 6,51 % Phoenix, AZ 85023

PORTFOLIO TOURS THIS WEEK:
Phoenix, Thursday July 23
10:00 - 1501 Grand Avenue | 60 units
12:00 - 1780 W Missouri Avenue | 173 units
2:00 - 1711 W Bell Road | 150 units
Tucson, Friday July 24
10:00 - 4098-4141 E 29th Street | 200 units
11:30 - 314 E Benson Highway | 50 units
1:00 - 1025 E Benson Highway | 136 units
2:30 - 5251 S Julian Drive | 175 units

Ocotillo Apartments & Hotel is a 150-unit (with opportunity to build 40 additional units), hotel-to-multifamily conversion, strategically located in the North Phoenix submarket, just west of Interstate 17 and near Loop 101. The property offers residents convenient access to the Deer Valley, Desert Ridge, and Norterra employment corridors, home to nearly 130,000 jobs in technology, healthcare, finance, and advanced manufacturing. The apartment conversion has received full City approval, and the property is in transition.
Originally constructed in 1982, the property consists of 126 studio residences and 24 one-bedroom/one-bath residences. Approximately 90 units have been renovated, featuring new flooring and updated kitchens and baths. Community amenities include a fenced swimming pool and sun deck, on-site laundry facilities, ample surface parking, and a dedicated leasing office.
Situated on approximately 3.73 acres, the property also offers a compelling value-add opportunity, with the potential to develop an additional 40 apartment units on the site (Buyer to verify).