EXCLUSIVE IN-FILL, BUILT-FOR-RENT OPPORTUNITY

5201 W. Olive Avenue | Glendale, AZ 85302

208
UNITS

2021/2022
CONSTRUCTION

±923
AVERAGE SF

±18.2
ACRES

the offering

Berkadia is pleased to present Village at Olive Marketplace, a 208-unit horizontal, Built-For-Rent (BFR) community located in the city of Glendale. Completed in 2022, Village at Olive Marketplace is the first, true infill BFR community in the Phoenix metropolitan area, placing residents within reach of all the MSA has to offer. The luxury rental home community integrates spacious, one-story apartment homes with best-in-class community amenities including a dedicated leasing center, attractive clubhouse, fitness center, resort-style pool & spa, gas fire pits, and private dog park and dog washing station. Each home offers a true residential feel complete with private entryways and backyards.

Village at Olive Marketplace recently completed a successful lease-up, offering an investor the opportunity to capitalize on its trending, high organic rent growth. Recent leases at the property are trending $142 (±8%) over their initial lease-up rents. Submarket fundamentals remain strong in the area. The neighborhoods surrounding the community are largely built-out resulting in a limited multifamily pipeline within a three-mile radius. Occupancies are projected to remain high (+96%) fueling substantial year-over-year rent growth of 14.1% through 2Q2023. ​

Featuring over 800,000 jobs within a ten-mile radius, Village at Olive Marketplace’s infill location pulls from several of Phoenix’s most dynamic employment hubs featuring notable Fortune 500 firms and recession-proof healthcare employment. Abundant retail and services are within an easy reach of the community including walkable, everyday amenities such as Fry’s Food & Drug and CVS Pharmacy. ​ Westgate Entertainment District, one of the largest entertainment districts in North America, and Arrowhead / P83 Entertainment District, a prominent regional destination, are both just minutes from the community. Village at Olive Marketplace is offered free and clear allowing investors to explore new financing. ​

Source: RealPage, ARMLS, Tetrad

Price

Market

Terms

Cash

Construction

Horizontal, Detached

Units

208

Year Built

2021 / 2022

Average Square Feet

923

Parcel Size

18.2 Acres

Density

11.4 Units / Acre

amenities

Unit Amenities

  • Single-Story Living
  • 9’ Ceilings
  • Smart Home Technology Package
  • One, Two, and Three-Bedroom Floorplans
  • Dining Area
  • Fully Equipped Kitchen
  • Tub / Shower Combination
  • Full-Size Washer / Dryer
  • Ample Closet Space
  • In-Home Dog Doors
  • Private Backyard

Community Amenities

  • Swimming Pool with Jacuzzi and BBQ Ramada
  • Fitness Center
  • Resident Clubhouse with Firepit
  • Dog Park and Dog Spa
  • Reserved Covered Parking
  • Electric Vehicle Chargers
  • Gated Community

 

photo gallery

Contact Us

contact us

phoenix office

2525 E. Camelback Road
Suite 1150
Phoenix, AZ 85016
602.955.1122

BERKADIA TEAM

Investment Advisors

mark forrester

Senior Managing Director
602.526.4800
mark.forrester@berkadia.com

ANDREW CURTIS

Director
602.571.4190
andrew.curtis@berkadia.com

dan cheyne

Managing Director
602.327.4447
dan.cheyne@berkadia.com

ric holway

Senior Managing Director
602.828.0074
ric.holway@berkadia.com

kristin watson

Operations Director
602.445.1674
kristin.watson@berkadia.com

Mortgage Banking

SCOTT HOLLAND

Senior Managing Director
602.997.3802sc
scott.holland@berkadia.com

5201 W. Olive Avenue | Glendale, AZ 85302

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