Coolidge
PROPERTY INFO
Coolidge Apartments, aka 774 Coolidge, is a boutique 6-unit, midcentury + modern, one-story, multifamily, rental community located in the trendy Woodlea Melrose neighborhood in Midtown Phoenix, just west of Melrose On 7th, near Park Central Mall, Phoenix College, St. Joseph’s Hospital and Medical Center, Carl T. Hayden VA Medical Center, and boutiques and popular eateries such as QCumberz, Retro Ranch, Paris Envy, Flo’s On 7th, Figs Home & Garden, Halo Animal Rescue Thrift Boutique, Melrose Vintage, Copper Star Coffee, Gadzooks, and Taco Guild.
Coolidge Apartments is a mid-century + modern rental community located in Midtown Phoenix, near the Melrose District, southwest of the intersection of 7th Avenue and Camelback Road, along Coolidge Avenue, allowing easy access to Biltmore Fashion Park, the Camelback Corridor, the valley freeway system and numerous employers. The property is north of the Grand Canal, which many people utilize for recreation, including running and biking.
Built in 1984 and 2019, 774 Coolidge was fully remodeled and constructed in 2019. Three of the units are large 2 bedrooms with 1 bath. The new constructions units are 2 bedrooms and 2 baths. Interior property upgrades include en suite laundry, stainless-steel kitchen appliances, stainless steel sink with garbage disposal and retractable multi-setting faucet, granite countertops, stained concrete or tile floors, porcelain subway tile shower surrounds with new fixtures, premium lighting, and low-flow toilets. The revamped exterior features private patios, pet friendly accommodations, mature landscaping and covered parking.
PLAN
BUY – Purchased for $222,000 on 3/31/2015.
FIX – Renovated the existing units and built 3 additional units inside this Melrose neighborhood Phoenix community with high-end contemporary finishes inside and out. Increased average rents substantially. Held for long-term investment.
SELL – Sold for $1,425,000 on 11/23/2020.
LEASING INFORMATION
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VESTIS GROUP | PHOENIX ARIZONA MULTIFAMILY REAL ESTATE INVESTMENTS
Vestis Group | Vestis Capital LLC is a real estate firm focused on Multi Family Residential Investment. We invest our clients’ capital together with our own to take advantage of opportunities with attractive risk-return attributes and an expectation of above-market returns. These goals are achieved through stringent underwriting practices and proactive property and asset management.
Through our extensive knowledge of the Phoenix multi-family residential real estate market, we can identify early trends, which provide insight into our pursuit of investment opportunities. Vestis Group’s principals have a thorough knowledge of the housing industry.
We have developed, built, rehabilitated, constructed, improved, managed and sold thousands of apartments, condos, homes, and home sites. Vestis Group principals and affiliates also have extensive experience constructing, improving, renovating, owning and operating residential and commercial properties. Our expertise in management, finance and construction is the backbone supporting every investment opportunity we identify.
For more information, please contact Vestis Group at 602-281-6202 or Email Us.
