Multifamily
Verde Gardens
13230 North 22nd St, Phoenix, AZ 85022
Listing Price: $5,995,000
Cap Rate
6.75%
Number of Units
18
GRM
11.69
Occupancy
98.0%
Price/Unit
$333,056
Price/Gross SF
$345.85
Gross SF
17,334
Investment Overview
Fantastic investment opportunity nestled between Moon Valley and Paradise Valley in Phoenix. Strategic investor has the high upside circumstance to capitalize on higher rents due to existing rental relationships near the property.
Investment Highlights
- Property consists of all 3 bed 2 bath units. New investor strategically positioned due to average new monthly mortgage being $1,400 more than average apartment rental rate in Phoenix MSA.
- This opportunity makes up exactly half of all 2022 and new construction 3 bedroom units in the North Mountain submarket. Fantastic chance to take advantage of high demand for large unit mix.
- Property located directly across the street from the Dream City Church. This community filters its program members directly to this property to proximity and in place relationship with developer.
Exclusively Listed By
Listing Price: $5,995,000
Cap Rate
6.75%
Number of Units
18
GRM
11.69
Occupancy
98.0%
Price/Unit
$333,056
Price/Gross SF
$345.85
Gross SF
17,334
Investment Highlights
- Property consists of all 3 bed 2 bath units. New investor strategically positioned due to average new monthly mortgage being $1,400 more than average apartment rental rate in Phoenix MSA.
- This opportunity makes up exactly half of all 2022 and new construction 3 bedroom units in the North Mountain submarket. Fantastic chance to take advantage of high demand for large unit mix.
- Property located directly across the street from the Dream City Church. This community filters its program members directly to this property to proximity and in place relationship with developer.
Investment Overview
Fantastic investment opportunity nestled between Moon Valley and Paradise Valley in Phoenix. Strategic investor has the high upside circumstance to capitalize on higher rents due to existing rental relationships near the property.