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1 | The Ivy off CentralInformation contained herein has been obtained from the owner of the property or from other sources that we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it.
O F F E R I N G M E M O R A N D U M
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same is submitted to errors, omissions, change of price, rental or other conditions prior to sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein.
BRAUN APARTMENT GROUP
EXCLUSIVELY PRESENTED BY
222 E. CODY DRIVE | PHOENIX, ARIZONA 85040
THE IVYOFF CENTRAL
2 | The Ivy off CentralInformation contained herein has been obtained from the owner of the property or from other sources that we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it.
OFFERING SUMMARY
PRICE: $12,200,000
PRICE/UNIT: $152,500
PRICE/FOOT: $214.79
TERMS: Cash to New Loan
3 | The Ivy off CentralInformation contained herein has been obtained from the owner of the property or from other sources that we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it.
PROPERTY SUMMARY
Apartment Community The Ivy off Central Apartments
Address 222 E. Cody DrivePhoenix, Arizona 85040
Number of Units 80
Year Completed 1988
Net Rentable Square Feet ±56,250 SF
Weighted Average Unit Size ±710 SF
Number of Buildings 11 Residential including Leasing Office/Laundry Room
Number of Floors One and Two
Parcel Size ±4.68 Acres
Site Density ±17.09 Units per Acre
THE OFFERING
Covered Spaces 0
Uncovered 90
Total Parking Spaces 90
Parking Ratio 1.125 Spaces per Unit
PARKING BREAKDOWN
Tax Parcel Number 113-35-006; 015; 052C; 052D; 052E
Zoning R-3
High School District Phoenix Union
Elementary School District Roosevelt ESD
ASSESSOR/PARCEL INFORMATION
Building Type Garden
Construction Type Wood Frame & Stucco
Foundation Type Concrete
Roofs Pitched & Built-Up
Parking Surface Asphalt
HVAC Individual Units
Electrical Individually Metered
Hot Water Individual Domestic Hot Water (Electric)
Plumbing Copper
Wiring Copper
Life Safety Smoke Detectors in Apartment Interiors &Fire Extinguishers on Building Exteriors
CONSTRUCTION + MECHANICAL
Electric Salt River Project
Gas Southwest Gas
Water City of Phoenix
Sewer City of Phoenix
Trash City of Phoenix
Phone Cox or Century Link
Cable Cox, DIRECTV or Dish Network
Internet Cox or CenturyLink
UTILITIES
4 | The Ivy off CentralInformation contained herein has been obtained from the owner of the property or from other sources that we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it.
SITE MAP
5 | The Ivy off CentralInformation contained herein has been obtained from the owner of the property or from other sources that we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it.
OFFERING AMENITIES
COMMUNITYAMENITIES » Sparkling Swimming Pool
» Dog Park
» Spacious Outdoor Areas
» Vehicular Gating
» Laundry Room
» Mail Room
» Enclosed Trash Recepticles
FLOOR PLANAMENITIES » 8ft Ceilings
» Private Balconies and Patios
» Dishwasher
» Microwave
» Electric Kitchen with Gas Range
» Modern Appliances
» Euro Cabinets
» Garbage Disposal
» Separate Dining Area
» Vertical Blinds
» Pantry
» Cable Ready
» Faux Wood & Tile Floors/ Carpet (Bedrooms)
» Ceiling Fan(s)
» Extra Storage
» Central Air/Heating
6 | The Ivy off CentralInformation contained herein has been obtained from the owner of the property or from other sources that we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it.
BROADWAY RD.
SOUTHERN AVE.
BUCKEYE RD.
7TH
AV
E.
CE
NT
RA
L A
VE
.
7TH
ST.
16T
H S
T.
24T
H S
T.
32N
D S
T.
FUT
UR
E L
IGH
T R
AIL
LIGHT RAIL
7 | The Ivy off CentralInformation contained herein has been obtained from the owner of the property or from other sources that we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it.
FLOOR PLANS
2 BD/1 BA(700 SF)
2 BD/1 BA CASITA(750 SF)
8 | The Ivy off CentralInformation contained herein has been obtained from the owner of the property or from other sources that we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it.
PROFORMABrighton Place
## ooff UUnniittss SSiizzee MMaarrkkeett RReennttYYeeaarr 11
AAnnttiicciippaatteedd RReenntt
36 700 1,029$ 1,079$ 39 700 1,079$ 1,139$ 5 750 1,149$ 1,199$ 80 710 1,061$ 1,116$
1,018,440$ 1,071,120$
IInnccoommee SSuummmmaarryyGPRI/Economic Rent 1,018,440$ 12,731$ 1,071,120$ 13,389$ Less: Vacancy Loss (50,922)$ (637)$ 5% (42,845)$ (536)$ 4%Less: Loss to Lease/ Bad Debt (20,369)$ (255)$ 2% (10,711)$ (134)$ 1% NNeett RReennttaall IInnccoommee 947,149$ 11,839$ 7% 1,017,564$ 12,720$ 5%RUBS 59,222$ 740$ 62,400$ 780$ Laundry/ Misc. Income 41,500$ 519$ 42,000$ 525$
TToottaall OOtthheerr IInnccoommee 100,722$ 1,259$ 104,400$ 1,305$ EEffffeeccttiivvee GGrroossss IInnccoommee ((EEGGII)) 1,047,871$ 13,098$ 1,121,964$ 14,025$
EExxppeennssee SSuummmmaarryyUtility Expense 82,000$ 1,025$ 8% 82,000$ 1,025$ 8%R&M/Contract/Turnover 48,000$ 600$ 5% 48,000$ 600$ 4%Payroll/Marketing 65,000$ 813$ 6% 65,000$ 813$ 6%Management 30,000$ 375$ 2.9% 30,000$ 375$ 2.6%Insurance 14,000$ 175$ 1% 14,000$ 175$ 1%Property Taxes 26,654$ 333$ 3% 26,654$ 333$ 2%Administrative 9,600$ 120$ 1% 9,600$ 120$ 1%
EExxppeennsseess BBeeffoorree RReesseerrvveess 275,254$ 3,441$ 26% 275,254$ 3,441$ 25%
Replacement Reserves 20,000$ 250$ 2% 20,000$ 250$ 2%TToottaall EExxppeennsseess 295,254$ 3,691$ 28% 295,254$ 3,691$ 27%
NNeett OOppeerraattiinngg IInnccoommee 752,617$ 9,408$ 72% 826,710$ 10,334$ 73%
Total/Avg:
T-12 T-12
MMaarrkkeett RReenntt YYeeaarr 11 AAnnttiicciippaatteedd RReenntt
Gross Annual Total
UUnniitt TTyyppee
2Bed/1Bath UP2Bed/1Bath DOWN2Bed/1Bath CASITA
9 | The Ivy off CentralInformation contained herein has been obtained from the owner of the property or from other sources that we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it.
CITY OF PHOENIX
INFORMATION COURTESY OF PHOENIX.GOV , AZCOMMERCE.COM AND BEA.GOV
33.5MEDIAN AGE
31.3%*ASSOCIATES DEGREE
OR HIGHER*
$57,957MEDIAN HOUSEHOLD
INCOME
1,731,300 PHOENIX
POPULATION
$249,900MEDIAN HOME
SALE PRICE
2.5M WORKFORCE POPULATION WITHIN A 30-MINUTE DRIVE
5TH LARGEST CITY IN THE
UNITED STATES
3RD LARGEST FASTEST
GROWING ECONOMY
South Mountain Fwy.
LukeAFB
Scottsdale
Phoenix Sky Harbor International Airport
Airpark
Deer ValleyAirport
Pim
a Fw
y.
Price
Fwy.
Sun Valley Pkwy.
Grand Ave.
Papago Fwy.
Maricopa Fwy.
Superstition Fwy.
Bla
ck C
anyo
n Fw
y.
Red Mountain Fwy.
Pima .ywFAgua Fria Fwy.
85
MAIN ST.APACHE TRAIL
UNIVERSITY DR.
MCKELLIPS RD.
BROADWAY RD.
SOUTHERN AVE.
BASELINE RD.
DEA
N R
D.
WA
TSO
N R
D.
VAL
V IS
TA D
R.
DO
BSO
N R
D.
SCO
TTSD
ALE
RD
.
PIM
A R
D.
TATU
M B
LVD
.
CAVE
CR
EEK
RD.
LINCOLN DR.GLENDALE AVE.
PEORIA AVE.
CACTUS RD.
SHEA BLVD.
CAMELBACK RD.
INDIAN SCHOOL RD.
THOMAS RD.
MCDONALD DR.
CEN
TRA
L A
VE.
44TH
ST.
CO
UN
TRY
CLU
B
BASELINE RD.
BELL RD.
GREENWAY RD.
PINNACLE PEAK RD.
CAREFREE HWY.
DYNAMITE BLVD.
7TH
ST.
7TH
AVE
.
HAPPY VALLEY RD.LAK
E P
LEA
SAN
T P
KW
Y.83
RD
AVE
.
THUNDERBIRD RD.
59TH
AVE
.
BUCKEYE RD.
YUMA RD.
BROADWAY RD.
LITC
HFI
ELD
RD
.
99TH
AVE
.
JAC
KR
AB
BIT
TR
.
MIL
L A
VE.
ELLIOT RD.
WARNER RD.
CHANDLER RD.
RAY RD.
24TH
ST.
32N
D S
T.
48TH
ST.
Salt River
43R
D A
VE.
PHOENIX
CAREFREECAVECREEK
ANTHEM
DESERT HILLS
MESA
SCOTTSDALE
CHANDLER
GILBERT
SUNCITY
GLENDALE
LITCHFIELDPARK
GOODYEAR
SUNCITYWEST
FOUNTAINHILLS
TEMPE
PEORIA
TOLLESON
AHWATUKEEFOOTHILLS
APACHEJUNCTION
Existing Freeways
Proposed or Under Construction
NO
RT
H
GoodyearAirport
10
10
101
101
143
60
60
87
88202
51Pi
este
wa Fw
y.
17
17
303
74
AR
IZO
NA
AVE
NU
E
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A D
R.
McQ
UEE
N R
OA
D
Santan Fwy.
GIL
BER
T R
OA
D
202
202
HIG
LEY
RO
AD
303
303
SOUTHERN AVE.
202
Educational, Healthcare & Social Assistance, 19.60%
Professional, Scientific & Administration, 14.20%
Retail Trade, 11.60%
Art, Entertainment, Food Recreation , 10.50%
Finance, Insurance & Real Estate, 9.70%
Construction, 7.60%
Manufacturing, 7.20%
Other Services, Except Public Administration, 5.40%
Transportation, Warehousing & Utilites, 5.10%
Public Administration, 3.80%
Wholesale Trade , 2.60% Information, 2.00%
Agriculture & Mining , 0.50%
PPhhooeenniixx EEmmppllooyymmeenntt BByy IInndduussttrryy
10 | The Ivy off CentralInformation contained herein has been obtained from the owner of the property or from other sources that we deem reliable. We have no reason to doubt its accuracy, but we do not guarantee it.
Todd BraunPrincipal602.474.9550tbraun@leearizona.comwww.braunapartmentgroup.com
3200 E. Camelback Road, Suite 100Phoenix, AZ 85018
602.956.7777www.leearizona.com
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same is submitted to errors, omissions, change of price, rental or other conditions prior to sale, lease or financing or withdrawal without notice. No liability of any kind is to be imposed on the broker herein.
BRAUN APARTMENT GROUP
EXCLUSIVELY PRESENTED BY
222 E. CODY DRIVE | PHOENIX, ARIZONA 85040
THE IVYOFF CENTRAL