03-08-2023
03-19-2023
1422 N 5th St, Phoenix, AZ 85004
CBRE is pleased to present Element on 5th, a 36-unit boutique multifamily community located within the East Evergreen Historic District of Downtown Phoenix. Built in 1961 and renovated in 2022, the mid-century modern community is made of block construction with built-up roofs and is master metered for electricity. In addition to the full interior and exterior remodel, current ownership has recently invested over ±$260,000 for the installation of solar panels at Element on 5th. The solar panels have been operational for the last 6 months and are anticipated to deliver annual average savings of $33,000 and $837,000 in total utility savings over a 25-year period.
Key Property Information
Listing Status
Available
Listing Type
Highest & best offer
Multifamily type
Garden Style
Price
$ 8,000,000
No. of Units
33
Year Built
1961
Year Renovated
2022
Building Size
22,500 Sq ft
Lot Size
0.70 acres
Opportunity Zone
No
Price per unit
$ 242,424