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Multifamily

Longview

4450 N Longview Ave, Phoenix, AZ 85014

Listing Price: $1,400,000

Cap Rate
4.20%
Number of Units
5
Price/Unit
$280,000
Price/Gross SF
$495.75
Gross SF
2,824

Investment Overview

Spotted less than a mile from the iconic Central Avenue beaming through the powerful landscape of uptown, midtown, and downtown Phoenix, Longview (“the property”) offers residents immediate access to an eclectic array of countless lifestyle amenities in its immediate vicinity. These neighboring areas are flush with not only a robust culinary scene and prominent entertainment destinations but also holds one of the largest employment corridors in Arizona. The Innovation Corridor is home to ±171,000 employees and ±1,700 businesses, anchored by the enormous presence of multiple powerhouse companies such as Wells Fargo, Quicken Loans, and IBM. Enhancing the full scope of Longview’s unmatched positioning is the lively Camelback/Biltmore corridor just over a mile northeast of the property. Hosting a top tier retail experience through the exemplary Biltmore Fashion Park, along with over ±46,000 employees and ±900 businesses discovered throughout the area’s attractive business parks, Camelback corridor adds further support for the compelling environment surrounding Longview. For desired destinations outside of the boisterous amenities offered nearby, the property’s fantastic proximity to State Route 51 enables manageable commute times to nearly anywhere in the metropolitan area. Built in 1961, Longview offerings five one-bedroom units covering an average of 565 square feet. All five units have been upgraded, however only one unit has received a premium upgrade of new cabinets, quartz countertops, and wood-style vinyl flooring. New ownership will have the opportunity to apply the premium renovations to the other four units to capitalize on the coinciding rental premium available based on accomplished rents by similar nearby properties in the submarket.

Investment Highlights

  • Located just outside of the coveted Biltmore submarket in a desirable residential neighborhood.
  • All units have been renovated and include in-suite laundry. Additional upgrade highlights include replaced main electrical panels, resurfaced asphalt, new roof, dual pane windows and new doors.
  • Future ownership has the opportunity to renovate 4 of the units to a gold-level finish and add private patios for all units (currently only 3 of them have private patios).

Exclusively Listed By

Listing Price: $1,400,000

Cap Rate
4.20%
Number of Units
5
Price/Unit
$280,000
Price/Gross SF
$495.75
Gross SF
2,824

Investment Highlights

  • Located just outside of the coveted Biltmore submarket in a desirable residential neighborhood.
  • All units have been renovated and include in-suite laundry. Additional upgrade highlights include replaced main electrical panels, resurfaced asphalt, new roof, dual pane windows and new doors.
  • Future ownership has the opportunity to renovate 4 of the units to a gold-level finish and add private patios for all units (currently only 3 of them have private patios).

Investment Overview

Spotted less than a mile from the iconic Central Avenue beaming through the powerful landscape of uptown, midtown, and downtown Phoenix, Longview (“the property”) offers residents immediate access to an eclectic array of countless lifestyle amenities in its immediate vicinity. These neighboring areas are flush with not only a robust culinary scene and prominent entertainment destinations but also holds one of the largest employment corridors in Arizona. The Innovation Corridor is home to ±171,000 employees and ±1,700 businesses, anchored by the enormous presence of multiple powerhouse companies such as Wells Fargo, Quicken Loans, and IBM. Enhancing the full scope of Longview’s unmatched positioning is the lively Camelback/Biltmore corridor just over a mile northeast of the property. Hosting a top tier retail experience through the exemplary Biltmore Fashion Park, along with over ±46,000 employees and ±900 businesses discovered throughout the area’s attractive business parks, Camelback corridor adds further support for the compelling environment surrounding Longview. For desired destinations outside of the boisterous amenities offered nearby, the property’s fantastic proximity to State Route 51 enables manageable commute times to nearly anywhere in the metropolitan area. Built in 1961, Longview offerings five one-bedroom units covering an average of 565 square feet. All five units have been upgraded, however only one unit has received a premium upgrade of new cabinets, quartz countertops, and wood-style vinyl flooring. New ownership will have the opportunity to apply the premium renovations to the other four units to capitalize on the coinciding rental premium available based on accomplished rents by similar nearby properties in the submarket.

Exclusively Listed By

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