Description

JLL is proud to present Luna Villa, a distinctive 288-unit community in Phoenix, 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 Phoenix, a city experiencing rapid growth and development with billions of dollars being invested in recent and ongoing projects throughout the city. Phoenix’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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Caractéristiques de l'actif

Nombre d'unités

288

Année de construction

1973

Média

Points clés d'investissement

Strong Historical Operations with Average Occupancy Above 90% Over the Last 12 Months
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 $143-$155 Continue In-Suite Washer/Dryer Installation – 143 Units Have In-Suite Washers & Dryers, Leaving Future Ownership the Ability to Add to the Remaining Units to Further 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