Luna Villa

3333 W Dunlap Ave, Phoenix, AZ, 85051, US

Descripción

JLL is proud to present Luna Villa, a distinctive 288-unit community in Glendale, Arizona, offering a stabilized asset with additional value-add upside. The Property consists of 24 buildings across 3 parcels, featuring a diverse unit mix with an average size of 835 square feet. The Property was constructed in 1973 and was partially renovated by current ownership. Renovated interior units feature premium finishes which include white shaker cabinetry with brushed nickel hardware, elegant hardwood-style flooring, stainless steel appliances, decorative tile backsplashes and in-suite washer/dryer.

Luna Villa is ideally situated in a desirable area of Glendale, a city experiencing rapid growth and development with billions of dollars being invested in recent and ongoing projects throughout the city. Glendale’s strong population growth, coupled with its diversifying economy (particularly in healthcare and manufacturing sectors) and limited new housing development, creates a solid foundation for sustained rental demand. Luna Villa provides a compelling investment opportunity to buy a partially renovated asset within an affordable submarket that is well positioned for future rental increases.

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Atributos

Unidades

288

Año de construcción

1973

Media

Aspectos destacados de la inversión

Lender Approved Short Sale
Strong Historical Operations with Average Occupancy Above 90% Over the Last 12 Months
100% Spacious Two Bedroom and Three-Bedroom Floor Plans
Significant Value-Add Potential - 143 Out of the 288 Units Have Been Renovated Providing New Ownership the Opportunity to Renovate the Remaining 145-Units with Proven Rental Premiums of $150
Continue In-Suite Washer/Dryer Installation – 143 Units Have In-Suite Washers & Dryers, Leaving Future Ownership the Ability to Add to the Remaining Units and Increase Revenue
Over $5M In Capital Improvements Have Recently Been Completed at the Property (Replaced Mechanical Equipment, Updated Most of the Electrical Panels, Unit Interior Remodels, Renovated the Clubhouse and Updated the Community Amenities)
Exceptional West Valley Amenity Base with Record Investment and Future Growth
Rental Discount as Compared to Other Nearby Communities
Prominent Rent Vs Own Discount Fueling Increased Demand in the Surrounding Area