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8/10/26
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Rockwell Property Company purchased Hayden Park, a 182-unit garden-style apartment community in Scottsdale, AZ, for $42 mil ($231k/unit). The property is located at 3015 North Hayden Rd, just outside of Old Town Scottsdale.
Built in 1985 on 8.7 acres, Hayden Park comprises 21 buildings totaling 182 one- and two-bedroom residences, including 46 single-level “casita”-style units, at a density of 20.9 units per acre. The property has been held by the same ownership group since 1999 and has averaged 96.3% occupancy over the past ten years, providing easy access to numerous nearby restaurants, bars and entertainment venues.
Hayden Park's units average 799 sf, with individually metered utilities. Community amenities include two swimming pools with adjacent spas, a picnic area with gas barbecue grills, a remodeled fitness center, a resident co-working lounge and covered and open parking totaling 274 spaces.
Steven Nicoluzakis, David Fogler and Jaxx Davies of Cushman & Wakefield's Multifamily Investment Sales group represented the seller in the transaction. According to Nicoluzakis, the prior long-term ownership initiated a value-add initiative, providing an exceptional opportunity for the buyer to continue the capital improvements and realize rental premiums.
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