'); Colliers International | Properties | Value Add 396 Unit Apartment Community in Chandler

Value Add 396 Unit Apartment Community in Chandler

Country Brook Apartments 4909 W Joshua Blvd Chandler, AZ 85226

  • 381,333 Square Feet
  • Multifamily-Apartment
  • For Sale

Summary Description

Investment opportunity to acquire Country Brook, a value-add, 396-unit, Class A apartment community at 4909 W. Joshua Boulevard in Chandler, Arizona. Built in 1996, Country Brook features a condo-style design with expansive floor plans (as large as 1,201 square feet). Extensive property amenities include three resort-style pools with outdoor TVs and shade sails, two Whirlpool spas, 24-hour state-of-the-art fitness center, and a resident clubhouse with business center.

Visit our property website for investment details and to sign confidentiality agreement.

Country Brook is positioned next door to Intel, one of Arizona’s largest employers with over 10,880 employees and plans to expand in Phoenix’s highly sought after Southeast Valley. Residents enjoy quick access to the Loop 101, Loop 202, I-10 and US 60 freeways, connecting them to area amenities, higher education and multiple fortune 500 companies in the area (“Who’s Who of Corporate America”).

The community is within walking distance to the prestigious Kyrene School District (elementary, middle and high school—all have received a 9 out of 10 GreatSchool rating).

Building Size: 381333 Square Feet

Area Available: 381,333 Square Feet

Number of Units

396

Average Unit Size

963 SF

Net Site Size

23 acres

Density

17.22 units per acre

Number of Buildings

31 plus leasing center

Building Structure

Garden-style, two-story

Year Built

1996, 1993, 1986

Features:

  • Since 2013, over $5 million has been spent curing deferred maintenance and enhancing on-site amenities
  • Excellent opportunity to add additional value through interior renovations
  • Current occupancy of 96+ percent
  • Assumable financing at 4.26 percent with 5+ years’ interest only left, plus the ability to add a supplemental loan
  • Limited new multifamily construction. Only one multifamily community under construction within a four-mile radius of Country Brook
  • Total parking spaces: 804; four detached garages
  • Strategically located in the explosive growth of the Southeast Valley, between Loop 101 and I-10 employment corridors, surrounded by strong growth and new developments
  • Adjacent to 50-plus acre Desert Breeze Park
  • The average household income within five-mile radius is $107,441, and average home value is $309,073.

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