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Multifamily

The Mojave

2020 W Orangewood Ave, Phoenix, AZ 85021

Listing Price: $5,250,000

Cap Rate
5.07%
Number of Units
27
Price/Unit
$194,444
Price/Gross SF
$421.08
Gross SF
12,468

Investment Overview

Marcus & Millichap is pleased to announce the opportunity to acquire The Mojave, a 27-unit multifamily community located one block west of 19th Avenue and a half mile south of Northern Avenue in Phoenix’s Christown submarket where multifamily renovation and development is booming.

Investment Highlights

  • Stabilized/Renovated/Cash Flowing Opportunity with Rental Upside
  • 5.07% In-Place Cap Rate
  • Attractive 5.06% Assumable Agency Financing with Interest Only Payments Through Oct 2024
  • Positive Leverage and 5% Cash-on-Cash Return Day 1
  • Significant Capital Improvements Completed in 2021/2022
  • 1986 Construction, Low Maintenance Asset with Strong Bones and Recently Replaced Building Systems
  • Proven Collection History Since Reaching Stabilization

Exclusively Listed By

Listing Price: $5,250,000

Cap Rate
5.07%
Number of Units
27
Price/Unit
$194,444
Price/Gross SF
$421.08
Gross SF
12,468

Investment Highlights

  • Stabilized/Renovated/Cash Flowing Opportunity with Rental Upside
  • 5.07% In-Place Cap Rate
  • Attractive 5.06% Assumable Agency Financing with Interest Only Payments Through Oct 2024
  • Positive Leverage and 5% Cash-on-Cash Return Day 1
  • Significant Capital Improvements Completed in 2021/2022
  • 1986 Construction, Low Maintenance Asset with Strong Bones and Recently Replaced Building Systems
  • Proven Collection History Since Reaching Stabilization

Investment Overview

Marcus & Millichap is pleased to announce the opportunity to acquire The Mojave, a 27-unit multifamily community located one block west of 19th Avenue and a half mile south of Northern Avenue in Phoenix’s Christown submarket where multifamily renovation and development is booming.

Exclusively Listed By

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