The 60 at Melrose (formerly Solterra on 5th Apartments) is a 60-unit, Class B, multi-family community constructed as condominiums in 2006 and was assembled and converted to an apartment community in 2020. The property primarily consists of 2-bed / 2-bath units with original cabinets, stainless steel appliances, and granite countertops. Rincon’s business plan includes renovating the unit interiors with new modern finishes including cabinets, quartz countertops, flooring, fixtures, and appliances, as well as, updating the pool area and correcting certain deferred maintenance at the property.
The property is located in Midtown Phoenix, which is a significant employment hub with an estimated 80,000 jobs within 2 miles of the Property. The Midtown area has had a significant influx of restaurant, shopping, and other amenities, as well as new apartment developments.
- ID: 3757
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