Palmaire 12-Units 7602/7606 W Palmaire Ave. Glendale, AZ 85303 PRICE: $958,800 NEAR WEST SIDE ENTERTAINMENT INDIVIDUALLY METERED # OF UNITS: 12 HIGH OCCUPANCY 1980 S CONSTRUCTION UNIT PRICE: $79,900 REPOSITION OPPORTUNITY CLOSE TO EMPLOYERS CAP RATE: 5% / 6.25% PARTIAL REHAB BELOW MARKET RENTS www.gpcimultifamily.cm Mark.Skelpsa@GPCIMultfamily.cm Terry.Kass@GPCIMultfamily.cm
PROPERTY SUMMARY PROPERTY DESCRIPTION PARCEL UTILITIES NUMBER OF UNITS 12 NUMBER OF PARCELS 2 HVAC Rf YEAR BUILT 1984 TAX NUMBER PARCELS 142-43-089/142-43-088 ELECTRICITY Individually Metered NET RENTABLE SF 9,504 ZONING M-H/R-4 WATER/SEWER Master Metered NUMBER OF BUILDINGS 2 2016 ASSESSED PROPERTY TAX $3,732 GAS Nne NUMBER OF STORIES 2 PARCEL SIZE.55 Acres PARKING 16 Uncvered LAUNDRY CONSTRUCTION ROOFS One Bldg On-Site, One Bldg in Units Frame Shingle
FINANCIAL SUMMARY
AREA INFORMATION Here is an incredible pprtunity t wn 12 Units n tw separate parcels, 1980 s cnstructin, and all Tw Bedrm, One Bath Units. There has been a significant amunt f rehab dne t the prperty, huge rent upside, and the prperty is very clse t the new Light Rail Extensin Rute. The future ptential fr this prperty is amazing. One building has a Shared Laundry Rm, the ther has Washer/Dryers in each unit. There is als On- Site Secure Parking fr each building. This is a great rental area, and the units are rarely vacant.
Phenix Metr Ecnmic Highlights Phenix, Arizna s capital, is the sixth largest city in the United States with just ver fur millin residents. As ne f the fastest grwing regins in the natin, Greater Phenix represents apprximately 75 percent f the state s ecnmy. Arizna s favrable business climate and clse prximity t majr markets create an advantageus perating envirnment fr cmpanies lking t expand r relcate t the regin. The vibrant grwth f the Phenix Metr area has utpaced U.S. ppulatin grwth fr the past 21 years and is ne f ten U.S. markets expected t see mst f the natin s grwth ver the next 40 years. In fact, the Phenix Metr is expected t grw t 6.3 millin by 2030. Greater Phenix is als the sixth yungest metrplitan regin in the natin. The regin s median age f 34.7 is yunger than that f Denver, Ls Angeles, Las Vegas, San Francisc. Business services and turism make up ver 75% f the ecnmy in Phenix. In additin, the Metr area ffers a strng, established health care and life sciences industry, with sme f the natin s majr players such as May Clinic, Scttsdale Healthcare, Banner Healthcare, lcated here. Jbs in the health care field are grwing three times faster than the natinal average. Additinally the Metr is hme t majr emplyers such as: Intel, State Farm, American Express, Wells Farg, PayPal, and Orbital ATK. Nearly 32,000 jbs in the area are in high-tech manufacturing, develpment, engineering, and research and design. Manufacturing is als a majr cmpnent f the emplyment base. Phenix Sky Harbr Internatinal Airprt served mre than 44 millin passengers in 2015, making it the ninth busiest airprt in the U.S. and amng the tp 25 in the wrld. #1 In Jb Grwth Expectatin #9 Best Place T Retire #3 Fastest Grwing City #10 Mst Fiscally Fit City #12 Best City T Live And Wrk Frbes Bankrate.cm Frbes Sperling s Best Places Rbert Half www.gpcimultifamily.cm Mark.Skelpsa@GPCIMultfamily.cm Terry.Kass@GPCIMultfamily.cm
PHOENIX METRO LIGHT RAIL ROUTES CENTRAL TER www.gpcimultifamily.cm Mark.Skelpsa@GPCIMultfamily.cm Terry.Kass@GPCIMultfamily.cm
DISCLAIMER: All prperty infrmatin, either written r verbal, is prvided withut representatin r warranty as t cmpleteness, veracity, accuracy, cnditin f the prperty, regulatry cmpliance, feasibility, r prjected financial perfrmance f the prperty. All data and assumptins regarding financial perfrmance, including that prvided fr financial mdeling purpses, may differ frm actual data. Yu are strngly urged t verify all infrmatin and t btain third party prfessinal cunsel regarding all matters (ie. inspectin, tax, title, legal, engineering, architectural, gvernmental, etc.) www.gpcimultifamily.cm Mark.Skelpsa@GPCIMultfamily.cm Terry.Kass@GPCIMultfamily.cm