7537 N 21st Ave - Apartments FOR SALE


Phoenix, AZ 85021- North Phoenix
$2,080,000 USD
602-687-6679
7537 N 21st Ave, Phoenix, AZ for Sale
$2,080,000 USD
Apartments - FOR SALE
1/13
null | Request Cap Rate

7537 N 21st Ave
Phoenix, AZ 85021
North Phoenix


OVERVIEW

Centrally located East of the I-17 Freeway immediately north of Central Phoenix's largest major employment corridor is Rose Vista, a, 11-unit apartment community, just south of the 19th Avenue and Northern Avenue intersection in a desirable residential neighborhood, surrounded by the growing lifestyle opportunities of a gentrifying area and the natural beauty of the North Mountain Preserve. The adjacent city-endorsed North Mountain Redevelopment Area, a defined area within the Phoenix MSA currently undergoing transformative gentrification efforts, provides assistance to residents and business owners in taking advantage of funding mechanisms designed to improve the region through advancement of underutilized properties, expanded infrastructure, and the creation of additional employment opportunities with current capital investment of $179M, and lead by a revitalization of the iconic Metrocenter Mall. Ample employment opportunities are found through the nearby I-17 Employment Corridor, boasting more than 43,000 employees across ±1,200 businesses, featuring employers such as BlueCross BlueShield, Wells Fargo, Waste Management. Completed in 1961 and 2011 , Rose Vista is comprised of 4 one-bedroom (36%) and 7 two-bedroom (64%) floorplans, offering an average of ±859 square feet. All units include direct access car-ports, private back patios and in-suite (2011 Built) or back-patio washer/ dryers. Future ownership will have the opportunity to renovate the 9 classic units and capitalize on the rent premium based on the current market and achieved rents by similar properties in the immediate surrounding area.

FOR SALE DETAILS

PRICE

$2,080,000 USD

PRICE/SF

$220 USD /SF

# OF UNITS

11

PRICE/UNIT

$189,091

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Rose Vista

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1961

PARKING SPACES

13

LAND DETAILS

LAND ACRES

0.86 AC

LAND SF

37,553 SF

ZONING

R-3, Phoenix

APN/PARCEL ID

157-19-009J

ASK ABOUT THIS PROPERTY

Paul BayMarcus & MillichapMore Info
602-687-6679

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Paul BayMarcus & MillichapMore Info
602-687-6679

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