The Property
With the level of remodeling that is underway now and the new rental comps to be in the 1750-1800 range, this is an opportunity to own in the North Central Phoenix corridor.
All two bedrooms have everything new. See the list of capital improvements but it is an over-the top remodel.
Tours can be arranged through the listing agent.
This is still under construction and most of these will go to contract before being finished. Inspections will not start until reno is done.
Next door is another one-owns 8 units w/residential financing.
Buyer to verify all facts and figures.
Location
There’s a place in central Phoenix, between Midtown and Biltmore, where everything you could want or need lies just beyond your front door. A place where parks and bike trails accent boutiques and bistros. Commutes are shorter, happy hours are longer, and everyone’s favorite mountain is just a stone’s throw away.
Piestewa Peak, at 2,610 feet is the second highest point in the Phoenix Mountains, after Camelback Mountain, and the third highest in the city of Phoenix, Arizona. It is located in the Piestewa Peak Recreation Area within the Phoenix Mountain Preserve, near Piestewa Parkway.
Construction Update 5/18/2022
Construction Video Progress 4-20-2022
As this video was filmed the new asphalt parking lot and driveway was being installed.
At this stage the work is progressing more rapidly.
Video Tour 3-20-2022-As the construction continues this video will be updated
Video Update 3/13/2022
The new doors are installed along with the new dual pane windows.
Two of the units have the underground plumbing installed to be able to add interior washer and dryers to the units.
Two units have flooring going in soon.
The exterior painting and landscaping will be coming in the next two weeks.
Sale Price
Effective Rental Income
Operating Expenses
Net Operating Income
Cap Rate
Offering Memorandum
Please check out the one page flyer!
The offering memorandum will follow soon.
Property Photos
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