The Shorewood Apartments — Sale in Phoenix, AZ

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Phoenix, AZ 85013

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Investment Figures

Cap rate
6.00%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to announce the opportunity to acquire Shorewood Apartment Homes – a completely renovated apartment community that boasts mid-century art deco style architecture modernized to fit the young professional tenant base the property now attracts. Given its location in the sought after Midtown Central Phoenix Corridor and scope of remodel, coupled with current stabilized rental rates due to the inclusion of full-size washers and dryers in all units, Shorewood provides a remarkable opportunity for continued long-term value. Since 2021, over $380,000 has been spent on new flooring, kitchens, bathrooms, front and interior courtyard landscape, roof work and multiple new HVAC units. Investment Highlights: • ROBUST POPULATION GROWTH Maricopa County, encompassing most of Phoenix, had the largest population surge in the U.S. from 2020 to 2023, with over 165,000 people added. • ADVANCED MANUFACTURING BASE Intel Corp. and Taiwan Semiconductor Manufacturing Company, among other electronics producers, are expanding Phoenix operations, attracting additional suppliers and service • MOUNTING TOURISM INDUSTRY Warm winters and amenities, including golf courses and resorts, draw vacationers. Nightly hotel booking volumes reached a record high in 2023.

Market Context

This multifamily in Phoenix, AZ is listed for sale. It is offered at an approximate 6.0% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Phoenix, AZ — view the full market.

As of Q1 2026, the Phoenix multifamily market showed a 12.1% vacancy rate, average asking rents near $1561.50/unit/mo, rents up 2.9% year over year, and cap rates around 5.9%. Source: multiple brokerage reports, Q1 2026.

Its 6.0% asking cap rate is in line with the Phoenix multifamily market average of about 5.9%. Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

What is the typical cap rate for multifamily in Phoenix?
About 5.9% as of Q1 2026, per multiple brokerage reports.
Is the Phoenix multifamily market tightening or softening?
Vacancy is around 12.1%, with asking rents rising year over year (Q1 2026).

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