Listing Agency: Colliers - Phoenix, Arizona k***@russlyon.com Show Phone

Listed By: Katie Whelan · License #SA707196000

Source: Crexi

Added: Apr 12 Changed: Aug 31 Last Checked: Aug 30 at 11:33PM

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Investment Insights

Based on property information with market context.

This refurbished apartment building contains eight units: four two-bedroom, one-bath residences and four one-bedroom, one-bath residences. Interior improvements include custom kitchens with extensive storage, custom bathrooms, vinyl plank flooring, windows, ceiling fans, fixtures, window treatments, and in-unit washer/dryers. The property also includes updated HVAC systems and hot water heaters.

Outdoor improvements include a pool and putting green. Located at 7440 E Cave Creek Rd in Carefree, the property sits across from the Sundial in downtown Carefree and is within walking distance of shops, bars, restaurants, and hotels. Downtown Cave Creek is also nearby.

Key Highlights

• Eight units: four 2‑bedroom/1‑bath and four 1‑bedroom/1‑bath residences
• Refurbished interiors with custom kitchens, custom bathrooms, and vinyl plank flooring
• New in‑unit washer/dryers, HVAC, hot water heaters, windows, fans, and fixtures

Property Analytics

Property Profile

Current Use

Apartment buildings

Suggested Use

Top Pick Building Supply Electrical Service Pharmacy HVAC Service Pet Grooming Service Law Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

8

Residential units

Location Intelligence

Trade Area within ½ mile

92

Businesses Nearby

Explore this area Business Placement

Demographics for 85377, AZ

3,515

Population

2,258

Households

1.6

Avg Household Size

65

Median Age

64%

College-Educated

99%

High-School Grad

8.6 sq mi

ZIP Area

409

Density / Sq Mi

$143,315

Median Household Income

$58,147

Median Earnings

$1,685

Median Rent

$1,058,600

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Eight renovated units combine updated kitchens, bathrooms, appliances, flooring, HVAC, and windows in a walkable Carefree setting.

Where is this apartment building located?

The property is located at 7440 E Cave Creek Rd Carefree, AZ.

What are key features of this property?

This property features: Eight units: four 2‑bedroom/1‑bath and four 1‑bedroom/1‑bath residences; Refurbished interiors with custom kitchens, custom bathrooms, and vinyl plank flooring; New in‑unit washer/dryers, HVAC, hot water heaters, windows, fans, and fixtures