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JLL is pleased to present New Horizons, a 51-unit garden-style multifamily community in East Phoenix. Built in 1985, the property is made of wood-frame construction with brand-new built-up roofs and is individually metered for electricity. The property features an excellent unit mix of 100% two-bedroom/two-bath floor plans averaging ±950 square feet.
New Horizons offers an investor the rare opportunity to acquire a value-add boutique multifamily asset. With an upgrade package featuring new white shaker-style cabinetry, quartz countertops, brushed nickel fixtures and hardware, stainless steel appliances, and in-suite washer/dryers, the property can achieve rent premiums of $100 based on similar properties.
New Horizons benefits from excellent demand drivers including its proximity to the Biltmore-Camelback financial district and ±1.5 miles from the largest in-fill data center development in Phoenix by QTS located on 40th Street / McDowell. Furthermore, New Horizon’s location features excellent access to the Loop 202 and SR 143 freeways providing a direct commute to all of Metro Phoenix’s offerings of employment, entertainment, and retail.
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Destaques do investimento
- 3.70% Fixed Rate Assumable Financing Due in 2031
- 100% Large Two-Bedroom/Two-Bath Floor Plans with Private Patios
- Value-Add/Revenue Enhancement Opportunity
- Significant Mark-to-Market and Loss-to-Lease Potential
- Excellent Access to High Volume Traffic Corridors
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