55 Unit Multi-Family Investment Property in SE Phoenix

2012 N 51st St, Phoenix, AZ 85008

Property Highlights:

  • 3.5 acre permitted project ideally situated between Arcadia S, Scottsdale and Tempe
  • Ready to build (all plans/ permits) 55 two story town homes for rental or sale.
  • Area is predominantly occupied by a mix of single and smaller multi-family homes
  • Easy access to 202 Sky Harbor International Airport, downtown Phoenix and Scottsdale
  • As of 2014, there were 112,707 residents within a 3-mile radius with an average household income of $54,308
  • On McDowell Rd., W of 51st St. – 39,400 cars per day !!

Property Description:

Permitted and utilities already in S E Phoenix infill for gated community of 55 two level contemporary town-homes with attached garages and individually metered utilities. Project allows for an amenity building and pool area. Plenty of visitor parking and two street entrance/exits. The property is platted for 56 lots all with their own APN number. City of Phoenix has approved all civil permits and all sewer, dry utility and SRP lines have been installed. Seller has pulled 12 permits for 11 units and the amenity building. The remaining permits ready as per development phasing. No vertical construction has been started. Great opportunity ..build for rental or individual sale both underline solid returns.

The property is located between North 50th St. from civic addresses 1849 & 2015 North 50th St, and North 51st St. at civic address 2002 & 2012 North 51st St, Phoenix 85008. The Property is less than a mile and half north of the AZ-202 Loop, providing easy access to Sky Harbor International Airport, downtown Phoenix and Scottsdale.

Utilities

  • Electricity/Power – SRP
  • Irrigation
  • Water – City of Phoenix
  • Telephone

Key Figures

PriceNot DisclosedCap Rate
No. Units55Occupancy
Building SizeNo. Stories2
Price/UnitYear Built
Property TypeMultifamily (land)Lot Size3.50 AC
Property Sub-typeAPN / Parcel IDVarious
Property Use TypeParking Ratio

Map:

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