Echo Tempe

1014 S Farmer Ave, Tempe, AZ 85281
Strategy: Value-Add
Status: Current
Purchase Price: $5,570,000
Acquisition Date: 10/26/2021
Units: 24
Off-Market, Renovation

Echo Tempe is a multifamily building blocks away from Mill Avenue and the campus of Arizona State University. The property was built in 1971 and consists of 100% two-bedroom/one-bathroom units, which have received light renovations over the years.

Breneman Capital has budgeted roughly $440,000 in capital improvements to reposition the property through enhanced curb appeal and upgraded amenities along with interior renovations.

We acquired Echo Tempe through a cultivated off-market channel.