Thomas Park Apartments

Highlights:

• 19,639 SF building
• 18 units
• 18 Single Car garages
• 18 Covered Car Ports
• 3 Laundry Facilities
• Professionally Managed
• Built in 1995
• Zoned High Density Residential
• 100% occupancy
• Bushmaster Park- Walking Distance
• Thomas Elementary School- Across the Street

Description:

3325–3395 East Lockett Road presents an exceptional opportunity to acquire a professionally managed, fully stabilized multifamily property in the heart of Flagstaff, Arizona — one of Northern Arizona’s most sought-after and resilient rental markets. This 4-building, garden-style community encompasses 19,639 square feet and features 18 spacious, well-maintained units that have delivered consistent cash flow and occupancy since being constructed in 1995. Zoned High Density Residential, the asset offers strong in-place performance and significant upside potential through future rent growth and targeted capital improvements.

Its centralized location provides unbeatable tenant convenience — just minutes from downtown Flagstaff and within close proximity to top-rated schools, public transit, major employers, and retail centers. With full occupancy, long-term leasing stability, and a supply-constrained market, this property offers investors a rare combination of stability, location, and long-term growth potential in one of Arizona’s strongest multifamily corridors.

Situated on four separate parcels, 3325–3395 East Lockett Road is a turnkey, income-producing asset featuring 18 large residential units across four low-rise buildings. Each unit includes a private single-car garage, a highly valued amenity in the Flagstaff rental market. The property also offers 11 surface parking spaces, three on-site laundry facilities, and recent exterior upgrades, including a full exterior repaint. Built in 1995, the asset has been professionally managed and maintained to institutional standards.

The property is currently operating at 100% occupancy, reflecting strong tenant demand and operational efficiency. Located directly across from Thomas Elementary School and within walking distance of Bushmaster Park, the complex benefits from a strong neighborhood identity and excellent walkability. With under-market rents and zoning that allows for future expansion or reconfiguration, this property presents a strategic opportunity for investors to capitalize on stable income today and value-add potential tomorrow — all within a high-demand Flagstaff location.

Immaculate Apartment Complex with 18 units, professionally managed in heart of Flagstaff. Property includes 18 Single car garages and 4 carports, and 3 Laundry room facilities.

Documents: