Garden-Style Apartment
2032 W ORANGEWOOD AVE, Phoenix, AZ 85021
31-unit single-story garden-style community with private front patios, individually metered electricity, and a landscaped courtyard setting.
Type:Multifamily
Property size:
26,350 SFLot size:
2.36 AcresPrice / SF:
$174/SF- Added:
- Jun 19, 2026
- Days on Market:
- 9
- Last Refresh:
- Jun 24 at 6:11 am
Property Features for 2032 W ORANGEWOOD AVE
General Information
- Standard status
- Active
- Size
- 26,350 SF
- Lot size
- 2.36 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1964
Listing office JLL - Phoenix, Arizona
Listing date Jun 19, 2026
Source Crexi
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 JLL - Phoenix, Arizona
HighLights
- 31‑unit single‑story garden‑style multifamily community built in 1964
- Block construction with built‑up foam roofs; individually metered electricity
- Unit mix is 97% two‑bedroom, one‑bath, averaging 860 SF per unit
- Each unit has a large private front patio
- Oversized landscaped courtyard; community sits on 2.36 acres (13.14 units/acre)
- 13.14 units per acre and largely unrenovated unit finish levels noted in the listing remarks
Overview
Bougainvillea Garden Apartments is a 31-unit, single-story garden-style multifamily community built in 1964. The property is constructed with block walls and features built-up foam roofs. Units are individually metered for electricity, supporting straightforward utility management. The unit mix is predominantly two-bedroom, one-bath layouts, and each unit includes a large private front patio. The site is configured around an oversized courtyard that supports the garden-style character.
The community is located in a north Phoenix neighborhood, on 2.36 acres, offering a low-density environment with a central outdoor area. As described, the property has been continuously owned for more than 13 years and has not undergone significant renovations, with classic finish levels throughout.
This offering may fit investors seeking an older-but-stable, low-density apartment asset with the opportunity to pursue modernization and rebranding in-place. Because the unit interiors are described as largely untouched, operators may find it suitable for a repositioning strategy rather than a routine maintenance-only plan. The remarks also note that competitively renovated properties in the broader market have achieved higher rent levels than the subject, supporting the relevance of thoughtful upgrades to unit finishes.
The community is located in a north Phoenix neighborhood, on 2.36 acres, offering a low-density environment with a central outdoor area. As described, the property has been continuously owned for more than 13 years and has not undergone significant renovations, with classic finish levels throughout.
This offering may fit investors seeking an older-but-stable, low-density apartment asset with the opportunity to pursue modernization and rebranding in-place. Because the unit interiors are described as largely untouched, operators may find it suitable for a repositioning strategy rather than a routine maintenance-only plan. The remarks also note that competitively renovated properties in the broader market have achieved higher rent levels than the subject, supporting the relevance of thoughtful upgrades to unit finishes.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $594.5k | $22.56 |
| − Vacancy | −$35.7k | −$1.35 |
| EGI | $558.8k | $21.21 |
| − OpEx | −$251.5k | −$9.54 |
| NOI | $307.3k | $11.66 |
26,350 SF · lease $22.56/SF/yr · vacancy 6.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.39M
$3.84M – $5.12M
NOI $307,334 @ 7.0% cap · market cap 6.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.98M
$6.98M – $9.31M
NOI $558,715 @ 7.0% cap · market cap 12.15%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
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Photography Service
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Bougainvillea Garden Apartments
Apartment Building
Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.1034615
- Latitude
- 33.5465114
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 31-unit single-story garden-style community with private front patios, individually metered electricity, and a landscaped courtyard setting.
Where is this apartment building located?
The property is located at 2032 W ORANGEWOOD AVE Phoenix, AZ.
What is the asking price?
The asking price for this property is $4,600,000.
What are key features of this property?
This property features: 31‑unit single‑story garden‑style multifamily community built in 1964; Block construction with built‑up foam roofs; individually metered electricity; Unit mix is 97% two‑bedroom, one‑bath, averaging 860 SF per unit
