1975 E. Apache Blvd | Tempe, AZ 85281
Visit Document Center
Visit Document Center
Visit Document Center
Visit Document Center
BACK TO TOP
1975 E. Apache Blvd Tempe, AZ 85281
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 company business in Nevada.
© 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
CONTACT Info
Mark Forrester
Senior Managing Director 602.526.4800 mark.forrester@berkadia.com AZ License #BR006620000
Ric Holway
Senior Managing Director 602.828.0074 ric.holway@berkadia.com AZ License #SA045121000
Dan Cheyne
Managing Director 602.327.4447 dan.cheyne@berkadia.com AZ License #SA578551000
PHOTO GALLERY
84 Units | 1983 Year Built | 697 Avg SF
Berkadia is pleased to present La Paloma, an 84-unit, infill, 100% value-add opportunity in the highly sought-after Tempe, AZ market
Built in 1984, La Paloma offers an attractive unit mix of studio (19%), one-bedroom (48%), and two-bedroom (33%) floorplans. With an average unit size of 697 square feet, La Paloma provides an efficient, well-designed living experience catering to a diverse renter base.
This true value-add opportunity features a 100% classic unit rent roll, positioning an investor to unlock significant upside through interior renovations. Competing properties in the submarket demonstrate strong demand for upgraded units, offering a clear path for premium finishes, modernized interiors, and in-unit washer/dryer installations to drive rental growth.
Strategically located in the heart of Tempe, La Paloma is less than half a mile east of Loop 101, providing direct access to over 897,000 jobs within a 20-minute commute. The property is surrounded by a robust employment base, including Fortune 500 companies, financial services firms, and a thriving technology sector. Additionally, the nearby light rail connects residents to Downtown Tempe and Central/Downtown Phoenix, enhancing commuter convenience and broadening the resident pool.
Demand in Tempe remains robust, fueled by its seamless integration of live-work-play opportunities. La Paloma benefits from proximity to major employment hubs, premier retail destinations, and vibrant entertainment districts, making it highly attractive to a broad renter base. Just minutes away, residents can enjoy the South Pier at Tempe Town Lake ($1.8B mixed-use development), Tempe Marketplace (1.2M SF of retail), Mesa Riverview (1.1M SF of retail), and Arizona State University.
Offered free and clear, La Paloma represents a prime infill investment with strong job growth, high rental demand, and significant value-add potential.
Visit Document Center
Visit Document Center
THE OPPORTUNITY
Investment Highlights
Opportunity
Document Center
Photo Gallery
Privacy
Terms of Use
Two Story Garden Style Community with Balanced Unit Mix
Value-Add Opportunity with Market Support for Elevated Finishes
Ultra-Connected Location with Access to Largest Concentration of Jobs in Arizona
Transit-oriented Community
Unbeatable Proximity to Arizona State University
INVESTMENT HIGHLIGHTS
KITCHEN SPECIFICATIONS
Location
Andrew Curtis
Managing Director 602.571.4190 andrew.curtis@berkadia.com AZ License #SA676613000
Location
Opportunity
Investment Highlights
Photo Gallery
Contact
Document Center
Privacy
Terms of Use
Photo Gallery
