REI Marketing is pleased to offer for sale Springleaf Apartments, a centrally located, updated garden style apartment in Tempe, Arizona just a half mile from ASU and the bustle of Mill Avenue. Comprised of 22 units in a cul de sac location, the community was built in 1978 and renovated in 2019. All units are individually metered for electricity, have individual ground mounted HVAC's and individual water heaters. Springleaf offers 22 cookie cutter one bed/one bath units averaging 585 SF with a galley-style kitchen, full bathroom and living area. 20 units have been fully refreshed with new stainless steel appliances, updated fixtures and new flooring. Exterior improvements include updated gated pool, refreshed paint and roofs. Residents enjoy onsite laundry, gated community pool and sun deck. The project is close to the light rail delivering riders quickly to the Phoenix MSA. Construction has also begun on the Tempe Streetcar line, a $180 million dollar project slated for completion in 2020. Access to major freeways as well as an international airport are also just a short drive from the site. This property is a prime candidate for a new owner to continue renovation program with an exterior reposition strategy to achieve rent premiums in the strong Tempe market.
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Listing information last updated on July 17th, 2019 at 8:17pm MST.