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Multifamily

Macallister

2016 W Orangewood Ave, Phoenix, AZ 85021

Listing Price: $4,750,000

Cap Rate
4.45%
Number of Units
24
GRM
14.39
Price/Unit
$197,917
Price/Gross SF
$282.87
Gross SF
16,792

Investment Overview

Centrally located East of the I-17 Freeway immediately north of Central Phoenix's largest major employment corridor is Macallister, a 24-unit apartment community, just north of the Glendale Avenue and 19th Avenue 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.

Developed in 2018, Macallister is comprised of 12 studios (50%), 8 one-bedroom (33%), and 4 two-bedroom (17%) floorplans, offering an average of 700 square feet. All units feature attractive amenities including 9-foot ceilings, balconies/patios (select units), in-suite washer/dryers, stainless steel appliances, and granite countertops.

Investment Highlights

  • Appealing Loan Assumption Opportunity
  • Rare Boutique Newer Vintage Community
  • Rapidly Improving Submarket

Exclusively Listed By

Financing By

Listing Price: $4,750,000

Cap Rate
4.45%
Number of Units
24
GRM
14.39
Price/Unit
$197,917
Price/Gross SF
$282.87
Gross SF
16,792

Investment Highlights

  • Appealing Loan Assumption Opportunity
  • Rare Boutique Newer Vintage Community
  • Rapidly Improving Submarket

Investment Overview

Centrally located East of the I-17 Freeway immediately north of Central Phoenix's largest major employment corridor is Macallister, a 24-unit apartment community, just north of the Glendale Avenue and 19th Avenue 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. Developed in 2018, Macallister is comprised of 12 studios (50%), 8 one-bedroom (33%), and 4 two-bedroom (17%) floorplans, offering an average of 700 square feet. All units feature attractive amenities including 9-foot ceilings, balconies/patios (select units), in-suite washer/dryers, stainless steel appliances, and granite countertops.

Exclusively Listed By

Financing By

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