Workforce Apartment
For Sale
Contact for pricing
Pending
40 E Sunland Ave, Phoenix, AZ 85040
117-unit workforce apartment community built in 1988 with individual metering and a dominant two-bedroom mix.
Property SizeContact for details
Days on Market146
Property Features for 40 E Sunland Ave
General Information
Standard status
Pending
Property subtype
Multifamily
Additional Details
Multifamily Units
117
Building Details
Year Built
1988
Listing Agency:
Lee & Associates - Arizona
Listed By:
Todd Braun · License #AZ SA029726000
Source:
Crexi
Added: Apr 12
Changed: Aug 24
Last Checked: Sep 3 at 11:00AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lee & Associates - Arizona
Investment Insights
Based on property information with market context.
The Apex on Central Apartments is a 117-unit workforce housing apartment community built in 1988. The property is individually metered and features a dominant mix of two-bedroom units, with approximately 72% of units in that configuration. Current operations are described as stabilized, and the existing interior upgrade program includes new black/stainless appliances, faux wood vinyl plank flooring, updated kitchen cabinets, stainless vent hood, quartz countertops, designer faucets, contemporary lighting, stainless dual tub sink, bathroom vanity, and in-unit washer/dryers.
Located in South Phoenix near Downtown Phoenix and the Baseline Corridor, the property is positioned in a submarket described as having limited apartment competition. The remarks also note that tenants will have convenient access in the near future to the Valley Metro Light Rail System, with the South Central Extension/Downtown Hub described as a five-mile extension under construction and planned for completion in 2024.
The community’s unit mix and in-progress interior upgrades are intended to support continued operational performance, alongside the ongoing completion of nearby regional light rail improvements.
Located in South Phoenix near Downtown Phoenix and the Baseline Corridor, the property is positioned in a submarket described as having limited apartment competition. The remarks also note that tenants will have convenient access in the near future to the Valley Metro Light Rail System, with the South Central Extension/Downtown Hub described as a five-mile extension under construction and planned for completion in 2024.
The community’s unit mix and in-progress interior upgrades are intended to support continued operational performance, alongside the ongoing completion of nearby regional light rail improvements.
Key Highlights
- 117‑unit workforce apartment community built in 1988
- Dominant unit mix: 72% two‑bedroom apartments
- Individually metered for tenant utility billing
Property Analytics
Property Profile
Current Use
Lease Details
117
Residential units
Location Intelligence
Trade Area within ½ mile
708
Businesses Nearby
Explore this area
Business Placement
Demographics for 85040, AZ
33,993
Population
11,962
Households
2.8
Avg Household Size
30
Median Age
15%
College-Educated
69%
High-School Grad
10.1 sq mi
ZIP Area
3,366
Density / Sq Mi
$57,890
Median Household Income
$36,355
Median Earnings
$1,193
Median Rent
$294,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - 117-unit workforce apartment community built in 1988 with individual metering and a dominant two-bedroom mix.
Where is this apartment building located?
The property is located at 40 E Sunland Ave Phoenix, AZ.
What are key features of this property?
This property features: 117‑unit workforce apartment community built in 1988; Dominant unit mix: 72% two‑bedroom apartments; Individually metered for tenant utility billing
