1545 W Denton Ln Phoenix, AZ 85015

Listing details for 1545 W Denton Ln, Phoenix, AZ 85015 : Heritage Park is a 22-unit garden-style apartment community located in a desirable central Phoenix neighborhood. Built in 1984 the property is made of block construction with new pitched-composition shingle roofs, and is individually-metered for electricity with new roof-mounted HVAC units. The unit mix consists of one-bedroom and two-bedroom floor plans that are spacious, well designed and average approximately 759 square feet. Interior unit amenities include fully appointed kitchens with fullsize electric appliances and ceramic tile flooring. Nearly 25% of the units have been remodeled to include new faux wood plank flooring, new cabinets, new countertops and new appliances. By continuing the interior/exterior upgrade program, a seasoned investor has the ability to 'rebrand' the community to match the strength of the submarket by creating modern apartments in a desirable location with affordable rental rates. The property is situated on approximately 0.74 acres and is landscaped with low water use desert plants and mature shade trees. Community Amenities include a large swimming pool, an on-site laundry facility, bbq areas, a designated leasing office and covered parking. Over the last year, the north/central Phoenix submarket average rental rates increased by 4.26% to $0.98 PSF while occupancy increased by 86 basis points. Strategic path of growth positions Heritage Park to benefit from accelerating fundamentals across the larger Phoenix metro. Numerous economic forecasts project Phoenix to lead major western markets in employment and population growth through 2017. Property tours are by appointment only. Please contact Brian Smuckler or Jeff Seaman to schedule a property tour.