242 South Beck

Tempe, Arizona 85281

Unpriced Offering

SALADO SPRINGS is an unusually attractive opportunity to acquire a boutique size luxury apartment community ideally positioned in one of the strongest and most vibrant submarkets in the Western U.S. – namely Downtown / North Tempe, AZ. Salado Springs was originally developed with timeless architecture in 1986 by Mark Taylor, one of the premiere Arizona multifamily developers.

TURN KEY INVESTMENT

Salado Springs has been transformed via a $1,776,000 strategically implemented renovation / upgrade program that has resulted in current generation apartment interiors featuring Quartz counters with undermounted sinks, new cabinetry, new hardware, lighting, stainless-steel appliances, side-by-side washer / dryer, and wood-look plank flooring.

PREMIER GARDEN-STYLE LIVING

The owner infused $459,215 upgrading the community's common area and exterior via a new fitness center, package lockers, refreshed clubhouse, pool upgrades, plus expenditures on the parking lot and roofs..

HIGH GROWTH | URBAN CORE LOCATION

Situated just south of Rio Salado Parkway, one of the premier east/west arterial streets in Tempe, Salado Springs connects residents with the education and business focus of Tempe's ASU main campus, Town Lake employment hubs, and Mill Avenue.

FULL FINANCING FLEXIBILITY

Investors may utilize new debt Salado Springs is offered on a free and clear basis so a buyer may choose financing as its option. Many lenders, including Freddie Mac, Fannie Mae, life companies, and banks will be interested in providing permanent loans for this stellar community.

UNIT AMENITIES

  • Faux-Wood Floors*
  • Wood-Burning Fireplace*
  • Stainless-Steel Appliances
  • Quartz Countertops*
  • Pantry
  • Brushed Nickel Hardware*
  • Full-Size, Side-by-Side Washer / Dryer
  • Walk-In Closets w/Mirrored Door
  • Patio / Balcony

*Renovated Units

COMMUNITY AMENITIES

  • Sparkling Swimming Pool
  • Heated Spa
  • Gas Barbecue Grills
  • Courtyards with Mature Landscaping
  • Parcel Lockers
  • Clubhouse / Leasing Center
  • Fitness Center
  • Ramada's
  • Covered and Open Parking
  • Gated Access

 

ONE BEDROOM

ONE BATH 615 SQUARE FEET

TWO BEDROOM TWO BATH 911 SQUARE FEET

MAPS

INVESTMENT ADVISORS

MARK FORRESTER

Senior Managing Director

602.912.1630

Mark.Forrester@berkadia.com

RIC HOLWAY

Senior Managing Director

602.912.1633

Ric.Holway@berkadia.com

DAN CHEYNE

Senior Director

602.522.5212

Dan.Cheyne@berkadia.com

PHOENIX OFFICE

2525 E. Camelback Road

Suite 1150

Phoenix, AZ 85016

Phone: 602.955.1122 | Fax: 602.955.9611

Berkadia.com

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry.   This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada. 

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