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| Las Casitas Apartments, Avondale, AZ |
Avondale,
AZ – 29th Street Capital (29SC), a privately-held real estate operator, has
acquired Las Casitas Apartments, a 168-unit multifamily community
located in Avondale, Arizona.
This will be the firm’s 13th
acquisition, for a total of more than 2,500 units, in the Phoenix market. 29SC
plans to invest over $2.1 million in capital improvements.
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| Dusty Eddy |
Interior upgrades include black appliances, improved lighting, USB
ports, refaced cabinets, fresh paint and kitchen backsplashes. Exterior renovations
will focus on enhancing the dog park, clubhouse, pool area and other amenities
while also addressing deferred maintenance.
“Las Casitas offers residents easy access to downtown Phoenix and the greater West Valley via Interstate 10, while the Loop 202 expansion is expected to increase access to the East Valley,” said Dusty Eddy, 29SC’s Senior Vice President of Acquisitions in the Southwest.
“Las Casitas offers residents easy access to downtown Phoenix and the greater West Valley via Interstate 10, while the Loop 202 expansion is expected to increase access to the East Valley,” said Dusty Eddy, 29SC’s Senior Vice President of Acquisitions in the Southwest.
“Population growth within
three miles is forecast to exceed 7.7% for the next five years as employment
opportunities flood the area.”
The Phoenix metro area ranks as the number one market for rental growth rates at 8% year-over-year, according to RealPage Analytics.
The Phoenix metro area ranks as the number one market for rental growth rates at 8% year-over-year, according to RealPage Analytics.
CONTACT:
Terri
Thornton
Partner, Thornton Communications
Partner, Thornton Communications
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