2016 W Orangewood Ave - Apartments FOR SALE


Phoenix, AZ 85021- North Phoenix
$4,750,000 USD
602-687-6679
2016 W Orangewood Ave, Phoenix, AZ for Sale
$4,750,000 USD
Apartments - FOR SALE
1/20
null | Request Cap Rate

2016 W Orangewood 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 Macallister, a 24-unit apartment community, just north of the Glendale Avenue and 19th Avenue intersection, 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. Developed in 2018, Macallister is comprised of 12 studios (50%), 8 one-bedroom (33%), and 4 two-bedroom (17%) floorplans, offering an average of 700 square feet. All units feature attractive amenities including 9-foot ceilings, balconies/patios (select units), in-suite washer/dryers, stainless steel appliances, and granite countertops.

FOR SALE DETAILS

PRICE

$4,750,000 USD

PRICE/SF

$283 USD /SF

# OF UNITS

24

PRICE/UNIT

$197,917

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Macallister Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2018

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.78 AC

LAND SF

33,759 SF

ZONING

R-4

APN/PARCEL ID

157-19-140

ASK ABOUT THIS PROPERTY

Paul BayMarcus & MillichapMore Info
602-687-6679

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

Paul BayMarcus & MillichapMore Info
602-687-6679

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