|Number of units||240|
Jones Lang LaSalle Americas, Inc. is pleased to present the opportunity to acquire Oceana Apartments (the “Property” or “Oceana”), a 240-unit garden apartment community located in Avondale, Arizona. Constructed in 2004, Oceana is situated just off the I-10 freeway, with walkable access to Gateway Pavilions, an exceptional shopping center with tenants such as Harkins Theatre, Costco and countless restaurants which serve as lifestyle amenities for residents. The Property’s convenient southwest valley location is also proximate to many major employment corridors with convenient access to the entire Phoenix metro via the 101 and recently completed loop 202 expansion. Oceana offers residents expansive and well-appointed one, two, and three-bedroom floor plans averaging 855 square feet in size. The Property is luxuriously amenitized, featuring a resort style swimming pool and spa, resident lounge and business center, a fully-equipped fitness center, and a private dog park. The Property offers a proven value-add opportunity, with 59% of units available to bring to a fully renovated scope. Oceana is offered free and clear, enabling investors to take advantage of the favorable current financing environment.
- Proven Value-Add Opportunity
- Strong Multifamily Dynamics
- Competitively Priced With Opportunity To Grow In-Place Rents
- Convenient Location With Walkable Retail
- Access To Major Employment Hubs