EXCEPTIONAL INVESTMENT OPPORTUNITY IN PRIME LOCATION! This 17-21 unit, two-story property, built in 1952, offers an outstanding value-add opportunity for savvy investors. The unit mix includes 17 studio apartments, a manager's quarters, and a front office. With interiors currently vacant and ready for renovation, this property is a blank canvas awaiting your vision. PRIME LOCATION ADVANTAGES: Strategic Access: Situated near US 60/Grand Avenue with easy connections to I-10, I-17, and Loop 202 for seamless commutes across the city. FUTURE GROWTH POTENTIAL: A planned light rail extension along Van Buren will place this property in a key transit-oriented area, enhancing accessibility and desirability.
Supplements: CONVENIENT PROXIMITY:Located just one mile west of downtown Phoenix and minutes from Phoenix Sky Harbor Airport, this property is ideally positioned for tenants seeking urban convenience. While the property requires a full remodel to address deferred maintenance, its competitive list price reflects its incredible upside potential. This is your chance to reimagine and revitalize a property in a thriving area with high rental demand. Visualize the Potential:
To help showcase the property's possibilities, the listing may include virtually renovated photos, giving you a glimpse into how this space can be transformed into a modern, income-generating asset.
Don't let this rare investment opportunity slip awayact quickly, as it won't last long!
More Information MLS# 6785949
Contract Info
Current Price: $1,495,000List Price: $1,495,000Status: ActiveList Date: 2024-11-19Ownership: Fee Simple
Lot Size Dimensions: 91 x 161Year Built: 1952Uncvrd Parking Spcs: 9Total # of Units: 22# of Buildings: 4Zoning: C3Flood Zone: TBDElementary School District: Phoenix Elementary DistrictHigh School District: Phoenix Union High School District
Remarks Misc
Cross Street: 19th Ave and Van BurenDirections: West on Van Buren to the property on the SEC of 20th and Van BurenGeo Lat: 33.450904Geo Lon: -112.102044
Status Change Info
Status Change Date: 2024-11-19
Legal Info
Township: 1NRange: 2ESection: 12Lot Number: 11
Showing Notification Methods
Showing Service: Aligned Showings
Efficiency Units
# Efficiency Units: 20Avg SqFt: 325# Baths: 1
1 Bedroom Units
# Baths: 1
Contact Info
List Agent Home Phn: 480-785-5612
Property Features
Project Type: 13 - 24 UnitsOther Type: House + Rental Units; Hotel/MotelConstruction: BlockConst - Finish: PaintedRoofing: TileFloors: Concrete; VinylSale Includes: Land & Building; Personal Property; Laundry EquipmentCommunity Amenities: No PoolAppliances Included: NoneHeating: OtherCooling: OtherWater: City FranchiseSewer: Sewer - PublicElectric: APSGas: NoneParking: Street Parking; Paved ParkingOwner Pays: Water; ElectricTenant Pays: Other (See Remarks)Source of Fincl Data: Other (See Remarks)Special: REO PropertyLockbox Type: Supra (ARMLS); Mech-box / ComboExisting 1st Loan: Treat as Free&ClearNew Financing: Cash; No Carry; Other (See Remarks)Environmental: Other (See Remarks)
Listing Office: JM Realty
Last Updated: December - 28 - 2024
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