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Granada Gardens

Phoenix, AZ

About this property

Granada Gardens is located in the Phoenix submarket of Alhambra, in close proximity to the I-17 freeway and the 19th ave light rail station. Through a complete overhaul of all the interior units, we were able to maximize rental potential and capture a large loss to lease. We added important necessities for tenants in the construction phase including the additions of washer / dryers, large kitchen, individual yards, storage areas and more.

This property was packaged in a portfolio investment with Palm View Manor.

No. of Units

14

Key Metrics

Projected IRR: 15.8%

Equity Multiple: 1.8x

Purchase Date

February 26th, 2021

Hold Period

5 Years

Acquisition Price

$2,000,000

Year Built

1972