The Property
This 7-unit apartment building in Phoenix offers a rare opportunity for investors to own property in a desirable location. Located in the North Phoenix district, the building is situated in an area that is a blend of historic buildings and trendy establishments. The upgraded interior features fresh paint, wood-like tile flooring, and spacious living and dining areas. The apartment building has undergone a complete renovation, including new dual-pane windows, doors, and hot water heaters. The kitchen has been completely redone and includes large cabinets, luxurious quartz countertops, and stainless steel appliances. The bedrooms are spacious and bright, with upgraded ceiling fans and walk-in closets. The upscale bathrooms are also completely renovated, adding to the property‘s allure. The exterior of the building has been redone with even and smooth stucco, adding to the property’s overall aesthetic appeal. Four of the units in the building have private backyards, and there are two storage rooms on the property that provide additional income potential for the owner. The location of the property is another key selling point. It is close to numerous restaurants and shopping centers, making it an attractive location for tenants. The North Phoenix district is known for its mix of history and modernity, and it attracts a diverse group of residents. With six of the seven units leased and the last one’s application being processed, this apartment building presents a fantastic investment opportunity. Buyers are encouraged to verify all facts and figures before making an offer on the property. Do not miss this opportunity to own a piece of prime real estate in Phoenix.
If you‘re interested in exploring the features of this property without leaving the comfort of your home, I highly recommend checking out the virtual tour. By clicking on the link provided, you’ll have the opportunity to experience a 360-degree view of the property, giving you a more immersive and interactive perspective. So why not take advantage of this convenient and innovative tool and discover what this property has to offer?
Location
The area around 21 Ave and Northern in Phoenix AZ is a bustling commercial and residential hub that offers a plethora of employment opportunities, making it a highly sought-after destination for job seekers. Some of the major employers in the area include Honeywell Aerospace, American Express, and Phoenix Children’s Hospital, among others. With the presence of such reputed companies, the area has a strong employment base, attracting both young professionals and seasoned workers looking for career advancement opportunities.
Apart from the strong job market, the 21 Ave and Northern area is also known for its vibrant entertainment scene. There are several shopping centers, restaurants, bars, and theaters in the vicinity, providing ample options for residents and visitors alike. The Metrocenter Mall, located a few miles from the area, is a popular destination for shoppers, offering a wide range of stores and dining options. Moreover, the area boasts a diverse range of culinary offerings, with several local eateries and international restaurants.
One of the major attractions of the 21 Ave and Northern area is the Phoenix Light Rail, a modern public transportation system that connects several areas of the city, including downtown Phoenix, Tempe, and Mesa. The light rail has made commuting easier for residents and has helped to reduce traffic congestion in the area. Additionally, the light rail is an excellent option for visitors who want to explore the city’s many attractions without having to worry about driving and parking.
The area also offers several recreational opportunities, including parks, hiking trails, and sports facilities. The North Mountain Park and Preserve, located just a few miles from the area, is a popular destination for hiking and outdoor activities. Moreover, the area has several sports facilities, including the Rose Mofford Sports Complex, which offers baseball, soccer, and softball fields.
In summary, the 21 Ave and Northern area in Phoenix AZ is a dynamic and diverse neighborhood that offers excellent employment opportunities, a vibrant entertainment scene, and convenient access to public transportation. With its range of recreational and cultural attractions, the area is an excellent destination for residents and visitors alike.
$1,795,000
Sale Price
$116,888
Effective Rental Income
$19,041
Operating Expenses
$96,987
Net Operating Income
5.18%
Cap Rate
Offering Memorandum
To access the Offering Memorandum or the one page Flyer, simply click on the button located below. From there, you’ll be able to download the document in PDF format.
Our Offering Memorandum is an essential resource for anyone who is considering investing in our opportunity. It includes all the necessary information, such as the investment terms, potential risks, financial projections, and more. By reviewing this document, you’ll have a complete understanding of what the investment entails.
If you have any questions or would like to learn more about our investment opportunity, please don’t hesitate to reach out to us. We’re always happy to answer any questions and provide you with the information you need to make an informed decision.
Thank you for considering our investment opportunity, and we hope to hear from you soon!
We‘d like to invite you to check out the additional photos we have uploaded to our website for our property. These photos offer a more detailed view of the property from various angles and perspectives, giving you a better understanding of its layout and features. Take a few moments to browse through these photos to see for yourself what our property has to offer. We believe that they will provide you with a better insight into our property. Thank you for considering our property, and please don’t hesitate to contact us if you have any questions.
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