4401 N 21st Street, Phoenix, AZ 85016 (MLS# 7041244)

Project Type: 13 - 24 Units

Construction: Block

Const - Finish: Painted

Roofing: Composition

Floors: Concrete; Vinyl

Sale Includes: Land & Building

Community Features: No Pool

Exterior Amenities: Desert Landscaping

Interior Features: Fire/Smoke Alarm(s)

Appliances Included: Refrigerator; Microwave; Washer/Dryer

Heating: Heat Pump

Cooling: Heat Pump

Water Source: City Franchise

Sewer: Sewer - Public

Electric: APS

Gas: SW Gas

Parking Features: >1 Space Per Unit; Add'l Parking Avail

Road Surface Type: Concrete

Owner Pays: Water; Trash Collection

Tenant Pays: Electricity

Source of Fincl Data: Owner

Lockbox Type: None

New Financing: Other (See Remarks)

Environmental: Other (See Remarks)

Turney Villas is a centrally located multifamily investment opportunity consisting of a 16-unit apartment made up of mostly two bedroom/one bath units, and two separate houses. All units, except the one bedroom/one bath have a fenced in back or front yard. Most of the units have coated cement floors. There is both covered and uncovered parking available to the tenants, with ample street parking in front of the complex. The building was completely remodeled when the current owner purchased it. The Kitchen is good sized which opens to the dining and living rooms. There is a washer/dryer in each unit. They are very nice units which gives the tenants a very comfortable feeling. The property was previously rezoned to R4A with prior approval for up to 64 multifamily units across a 4-story configuration, providing investors with future density and redevelopment optionality. Location Description: Located within the highly desirable Biltmore and Midtown Phoenix corridor, Turney Villas benefits from strong connectivity to major employment centers, retail, entertainment, and transportation corridors. The property is very close to the AZ-51, which connects you into the 101, 202 and 10 freeways. You are close to Arcadia, Scottsdale, and the Camelback Corridor. This area is experiencing population growth, employment expansion, and limited infill housing supplies which keep up strong multifamily demand. This also sets up exceptional opportunity for future development.