32 Arcadia Apartments, aka MODE @ 32nd Street, is a 104-unit, midcentury modern, two and three-story, multifamily community located in the Arcadia neighborhood, near boutiques and popular eateries such as The Vig Arcadia, La Grande Orange Grocery, Postino WineCafe, Beckett’s Table, Crudo, Nook, Chelsea’s Kitchen, North Italia, Buck & Rider, Steak 44 and The Henry.
32 Arcadia is a mid-century modern apartment community located in the heart of Arcadia Phoenix. The property is located in a quiet residential neighborhood just north of the Thomas Road, just east of 32nd Street, along Pinchot Avenue, allowing easy access to the Biltmore area, the Camelback Corridor, Arcadia neighborhood restaurants, the valley freeway system and numerous employers.
Built in 1972, 32 Arcadia was fully remodeled and repositioned in 2018. Interior property upgrades include in-suite laundry, stainless-steel appliance package, stainless steel sinks with garbage disposal and retractable multi-setting faucet, upgraded countertops, wood-look ceramic tile floors, porcelain tile shower surrounds with new fixtures, premium lighting, and low-flow toilets. The revamped exterior features, controlled access gates, a manicured courtyard, resort-style swimming pool with covered cabana, fitness center, grilling stations with seating areas and pet friendly accommodations. All units have assigned covered parking. Other community amenities include yoga classes, Amazon Hub service, WIFI in common areas and outdoor games.
BUY – Purchased for $2,025,000 on 6/24/2016.
FIX – Renovated the Arcadia neighborhood Phoenix community with high-end contemporary finishes inside and out. Increased average rents substantially. Held for long-term investment.
SELL – Sold for $14,800,000 on 9/4/2020.
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.