The opportunity consists of a 10-unit multifamily property located within the North Central Phoenix submarket. The property consists of two separate tax parcels, one with 8-units and the other with 2-units. The improvements are situated on a generous combined parcel square footage of 40,374 SF, with R-4 multifamily zoning. A potential value-add scenario would be to either finish renovating the two duplexes and/or develop additional units on either of the parcels.
Unit Breakdown:
#1 Bedroom Units: 6, $1350 - $1500/mo
#2 Bedroom Units: 3, $850 - $1750/mo
#3 Bedroom Units: 1