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Multifamily

Foothill Acres

9645 N 11th Ave, Phoenix, AZ 85021

Listing Price: $5,250,000

Cap Rate
6.51%
Number of Units
30
GRM
11.61
Price/Unit
$175,000
Price/Gross SF
$292.15
Gross SF
17,970

Investment Overview

Centrally located East of the I-17 Freeway immediately north of Central Phoenix's largest major employment corridor is a 30- unit apartment community just north of the 11th Avenue and Hatcher Road intersection, surrounded by the growing lifestyle opportunities of a gentrifying area and the natural beauty of the North Mountain Preserve. The adjacent city-endorsed North Mountain Redevelopment Area, a defined area within the Phoenix MSA currently undergoing transformative gentrification efforts, provides assistance to residents and business owners in taking advantage of funding mechanisms designed to improve the region through advancement of underutilized properties, expanded infrastructure, and the creation of additional employment opportunities with current capital investment
of $179M, and lead by a revitalization of the iconic Metrocenter Mall. Ample employment opportunities are found through the nearby I-17 Employment Corridor, boasting more than 43,000 employees across ±1,200 businesses, featuring employers such as BlueCross BlueShield, Wells Fargo, Waste Management.

Originally developed in 1989, the property's unit mix features a desirable blend of one-bedroom (±47%) and two-bedroom (±53%) covering an average of ±559 square feet. Future ownership will have the opportunity to capitalize on below market rents already proven in the immediate area.

Investment Highlights

  • Centrally located East of the I-17 Freeway immediately north of Central Phoenix's largest major employment corridor
  • Adjacent to city-endorsed North Mountain Redevelopment Area, a defined area within the Phoenix MSA currently undergoing transformative gentrification efforts
  • Employment opportunities are found through the nearby I-17 Employment Corridor, boasting more than 43,000 employees across ±1,200 businesses

Exclusively Listed By

Financing By

Multifamily

Foothill Acres

Listing Price: $5,250,000

Cap Rate
6.51%
Number of Units
30
GRM
11.61
Price/Unit
$175,000
Price/Gross SF
$292.15
Gross SF
17,970

Investment Highlights

  • Centrally located East of the I-17 Freeway immediately north of Central Phoenix's largest major employment corridor
  • Adjacent to city-endorsed North Mountain Redevelopment Area, a defined area within the Phoenix MSA currently undergoing transformative gentrification efforts
  • Employment opportunities are found through the nearby I-17 Employment Corridor, boasting more than 43,000 employees across ±1,200 businesses

Investment Overview

Centrally located East of the I-17 Freeway immediately north of Central Phoenix's largest major employment corridor is a 30- unit apartment community just north of the 11th Avenue and Hatcher Road intersection, surrounded by the growing lifestyle opportunities of a gentrifying area and the natural beauty of the North Mountain Preserve. The adjacent city-endorsed North Mountain Redevelopment Area, a defined area within the Phoenix MSA currently undergoing transformative gentrification efforts, provides assistance to residents and business owners in taking advantage of funding mechanisms designed to improve the region through advancement of underutilized properties, expanded infrastructure, and the creation of additional employment opportunities with current capital investment of $179M, and lead by a revitalization of the iconic Metrocenter Mall. Ample employment opportunities are found through the nearby I-17 Employment Corridor, boasting more than 43,000 employees across ±1,200 businesses, featuring employers such as BlueCross BlueShield, Wells Fargo, Waste Management. Originally developed in 1989, the property's unit mix features a desirable blend of one-bedroom (±47%) and two-bedroom (±53%) covering an average of ±559 square feet. Future ownership will have the opportunity to capitalize on below market rents already proven in the immediate area.

Exclusively Listed By

Financing By

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