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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. 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!
Property Type(s):
Multi Family
| Last Updated | 12/19/2024 | Tract | CAPITOL ADDITION |
|---|---|---|---|
| Year Built | 1952 | Community | CAPITOL ADDITION |
| County | Maricopa |
Price History
| Prior to Dec 19, '24 | $1,535,000 |
|---|---|
| Dec 19, '24 - Today | $1,495,000 |
Additional Details
| AIR | Other |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | None |
| CONSTRUCTION | Block |
| HEAT | Other |
| LOT DIMENSIONS | 91 x 161 |
| PARKING | On Street, Paved |
| SEWER | Public Sewer |
| SUBDIVISION | CAPITOL ADDITION |
| TAXES | 6034 |
| WATER | Public |
Location
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Listed with JM Realty
The ARMLS logo indicates a property listed by a real estate brokerage other than Joe Szabo RE/MAX Fine Properties.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS.
Copyright 2024 Arizona Regional Multiple Listing Service, Inc. All rights reserved.
Data last updated 12/25/24 2:12 PM PST.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS.
Copyright 2024 Arizona Regional Multiple Listing Service, Inc. All rights reserved.
Data last updated 12/25/24 2:12 PM PST.
This IDX solution is (c) Diverse Solutions 2024.
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