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Multifamily

Oasis

2402 W Devonshire Ave, Phoenix, AZ 85015

Listing Price: Request For Offer

Number of Units
33
Gross SF
29,370

Investment Overview

Placed just northwest of the 23rd Avenue and Indian School Road intersection, The Oasis (“the property”) is a boutique apartment community offering 33 units, all two-bedroom, across three one-story buildings. Sandwiched between the flourishing Grand Canyon University (“GCU”) and the roaring Innovation Employment Corridor running down Central Avenue, students and professionals alike enjoy direct access to a surplus of lifestyle opportunities to thrive upon. Less than two miles away, GCU and its ±110,000 student enrollment creating ±$1.1B in annual economic impact, are continuing to grow their effect on the I-17 area with over ±$500M in total projected capital investments to be used by 2024. Equidistant from the property to the east is the largest employment area in Arizona, Innovation Corridor. Running down Central Avenue into Downtown Phoenix, this prominent collection of employers includes many of the most prolific in The Valley, headlined by Fortune 500 members United Healthcare, Wells Fargo, and Bank of America. Adjoining this stretch of influential employment landscape are the Uptown, Midtown, and Downtown neighborhoods, showcasing a vibrant urban culture where shopping, dining, and entertainment options are abundant and residential housing highly sought after. Beyond the lavish number of purposeful destinations within the property’s immediate landscape, the instantaneous access to I-17 enables residents to reach other areas across The Valley in extremely convenient commute times. Built in 1963, The Oasis features 33 two-bedroom units, each offering 890 square feet, as well as, a large private patio and two carport parking spaces. Just over half of the units have been retrofitted to include in-suite washer and dryer, and many of the units have received additional interior upgrades. Future ownership will have the unique opportunity to insert washer and dryer into the remaining 15 units to capitalize on the associated $100 premium based on rents achieved by similar properties in the submarket.

Investment Highlights

  • Rare low-density layout with spacious two-bedroom, single level floorplans all complete with direct-access car ports, to private back patio entries and a spacious lush interior courtyard space.
  • Opportunity to renovate the remaining 15 classic units to capitalize on premiums already proven at the property.
  • Equidistant to Midtown/Downtown employment corridors and Grand Canyon University.

Exclusively Listed By

Financing By

Listing Price: Request For Offer

Number of Units
33
Gross SF
29,370

Investment Highlights

  • Rare low-density layout with spacious two-bedroom, single level floorplans all complete with direct-access car ports, to private back patio entries and a spacious lush interior courtyard space.
  • Opportunity to renovate the remaining 15 classic units to capitalize on premiums already proven at the property.
  • Equidistant to Midtown/Downtown employment corridors and Grand Canyon University.

Investment Overview

Placed just northwest of the 23rd Avenue and Indian School Road intersection, The Oasis (“the property”) is a boutique apartment community offering 33 units, all two-bedroom, across three one-story buildings. Sandwiched between the flourishing Grand Canyon University (“GCU”) and the roaring Innovation Employment Corridor running down Central Avenue, students and professionals alike enjoy direct access to a surplus of lifestyle opportunities to thrive upon. Less than two miles away, GCU and its ±110,000 student enrollment creating ±$1.1B in annual economic impact, are continuing to grow their effect on the I-17 area with over ±$500M in total projected capital investments to be used by 2024. Equidistant from the property to the east is the largest employment area in Arizona, Innovation Corridor. Running down Central Avenue into Downtown Phoenix, this prominent collection of employers includes many of the most prolific in The Valley, headlined by Fortune 500 members United Healthcare, Wells Fargo, and Bank of America. Adjoining this stretch of influential employment landscape are the Uptown, Midtown, and Downtown neighborhoods, showcasing a vibrant urban culture where shopping, dining, and entertainment options are abundant and residential housing highly sought after. Beyond the lavish number of purposeful destinations within the property’s immediate landscape, the instantaneous access to I-17 enables residents to reach other areas across The Valley in extremely convenient commute times. Built in 1963, The Oasis features 33 two-bedroom units, each offering 890 square feet, as well as, a large private patio and two carport parking spaces. Just over half of the units have been retrofitted to include in-suite washer and dryer, and many of the units have received additional interior upgrades. Future ownership will have the unique opportunity to insert washer and dryer into the remaining 15 units to capitalize on the associated $100 premium based on rents achieved by similar properties in the submarket.

Exclusively Listed By

Financing By

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