2339 West Northern Avenue, Phoenix, AZ, 85021, US

Northern Terrace

Description de l'actif

JLL is pleased to offer Northern Terrace, a 51-unit garden-style apartment community in the Central Phoenix submarket. Built in 1964, the property is made of block construction with built-up roofs and individually metered for electricity. Northern Terrace is situated on approximately 1.87 acres and features beautiful landscaping with lush turf, mature shade trees, and low-maintenance desert plants.

Northern Terrace provides a prospective investor the rare opportunity to acquire a fully renovated asset in a prestigious 19North neighborhood of Central Phoenix. Current units are listed under market value by over $115+ per unit. Northern Terrace can provide an increase of $ 70,000+ in monthly rental revenues once units are marked-to-market with additional potential for growth from the high demand and barriers to entry of the property’s dynamic in-fill location in Central Phoenix.

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Caractéristiques de l'actif

Prix attendu

9 596 000 €

Nombre d'unités

Année de construction

1964

Surface de l'actif Net

4 011 m²

Taille du terrain Brut

0,76 hectare

Média

Points clés d'investissement

82% Two-Bedroom Floor Plans Averaging 863 Square Feet
Fully Renovated Property with High Finish Levels
Rents are $100 Below the Competitive Set
High Visibility Community with Traffic Counts of 31,000 Vehicles per Day
Extremely Strong Submarket Fundamentals (Projected 2-year absorption rate over 99%)
Rapidly Improving 19North Neighborhood Location with Proximity to the $850M Metrocenter Mall Redevelopment