7019 N 76th Ave - Multi-Family FOR SALE


Glendale, AZ 85303- Westside
$1,135,963 USD
602-435-3636
7019 N 76th Ave, Glendale, AZ for Sale
$1,135,963 USD
Multi-Family - FOR SALE
1/12
null | 6.25% Cap Rate

7019 N 76th Ave
Glendale, AZ 85303
Westside


HIGHLIGHTS

  • Value-Add Opportunity in an Affordable Submarket
  • Attractive Entry Pricing and Cap Rate at 6.25%
  • Strong Rental Demand Driven by Population Growth Within the Submarket
  • Individually Metered for Electric, Individual HVAC Units and Individual Hot Water Heaters
  • Single Story, Pitched Roofs, Block Construction

OVERVIEW

CBRE is pleased to announce the exclusive offering of 7019 & 7027 N 76th Ave, a 6 unit block constructed multifamily community located in the dynamic submarket of Glendale, Arizona. 7019 & 7027 N 76th Ave Apartments represents an exceptional opportunity to acquire a well-kept multifamily asset in a growing submarket where the population reaches over 248,797 people in 2020. Comprised of a well-designed floor plan of all two-bedroom one bath units that are 900 square feet; the property provides an attractive unit mix that appeals to renters in the area. Glendale is part of the larger Phoenix metropolitan area, which is experiencing significant population growth, consistently ranking among the highest in the nation. This influx is driven by job opportunities and a relatively affordable cost of living compared to coastal cities. The growing population, coupled with a shortage of single-family homes, translates into a robust demand for rental properties. This is further evidenced by a strong rental market with consistent income streams for investors. Glendale has strategically diversified its industries to include advanced business services, aerospace and defense, healthcare, manufacturing, and entertainment. Major employers like Honeywell, Bechtel, Delta Dental, AAA, Coca-Cola, Conair, and Humana have a presence in Glendale. The city is experiencing significant job creation, with a 1.74% job growth rate across various sectors. Glendale ranked ninth nationally among mid-sized cities for economic growth, with a 1% growth in employment rate and a 30% growth in median earnings from 2019 to 2023.

FOR SALE DETAILS

PRICE

$1,135,963 USD

PRICE/SF

$210 USD /SF

# OF UNITS

6

PRICE/UNIT

$189,327

CAP RATE

6.25%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

7019 & 7027 N 76th Ave

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1971

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.42 AC

LAND SF

18,295 SF

ZONING

R1-6

APN/PARCEL ID

142-43-063,142-43-064

ASK ABOUT THIS PROPERTY

602-435-3636

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.

602-435-3636

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.