For Sale - 4 lot Assemblage

$875,000 | 4 lots | 1962

314 N. 16th St Phoenix, AZ 85006

318 N. 16th St Phoenix, AZ 85006

322 N. 16th St Phoenix, AZ 85006

326 N. 16th St Phoenix, AZ 85006

Property Description

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Seller Financing Terms Available.

Current use Auto shop (parking cars & an office) and land.
Close to 30,000 sf four contiguous lot assemblage that is perfectly positioned.
Located next to the Historic Garfield District at 16th St/Van Buren.
Each lot is 7368 sf with a total lot assemblage of 29,472 sf. High % of street frontage.
 
Current occupant is a used car dealer that is vacating 3/31/24
with all cars & other property removed from the parcels.
Parcels will be otherwise sold as-is.

Strong traffic numbers on a high visibility street for

this development opportunity in the middle of it all.
The site is close to Downtown Phoenix (1.5 miles), the Downtown ASU Campus (1 mile), Sky Harbor Airport (2.3 miles), and is situated directly adjacent to the Historic Garfield District. Gentrification is germinating.

1 block north is the highly-reputable developer Greenlight Communities' "Streamliner 16th" development, an affordable living community that is slated to open in September 2024. It is transforming the area.

The site has an alley behind it & directly to the south. Strong setup/construction access. Vacant lot directly west could be an added piece if available. Other assemblage possibilities in the immediate area.

Long-term owner looking to divest for a cash infusion with other business endeavors.

Owner has had solid cash flow over the years.

The parcels are across the street from an opportunity zone, and primed for huge growth in the next several years. Contiguous infill lots like this are hard to find.

Buyer to complete and rely on own due diligence.

CONTACT ME TODAY TO OBTAIN YOUR FREE INVESTMENT PROPERTY PRICING ANALYSIS!

100% CONFIDENTIAL

​​​Commercial Multifamily & ​Investment Broker Specialist

​Multifamily for sale, multifamily real estate

Are you thinking about putting your Multifamily Property for Sale?

Considering Buying Real Estate Investment Property?

Are you finding Multifamily for Sale that you want to buy?

CONTACT ME TODAY! 

​

I am a CCIM member - Only 6% of commercial brokers are CCIM members. 

​​​Cass Stephens - S.J. Fowler ReAL ESTATE INVESTMENT

For Sale

$1,750,000 | 10 Units | 1945-1968 mix 

6729 N. 54th Ave, Glendale, AZ 85301

6733 N. 54th Ave, Glendale, AZ 85301

6737 N. 54th Ave, Glendale, AZ 85301

6741 N. 54th Ave, Glendale, AZ 85301

Property Description
Assemblage sale only
8700 total sf or $201/sf. Highly competitive price/sf
 
6729: Two houses that total around 2200 sf.
3+ bedroom/2 bath house in front (1400 sf). Vacant-heavy value-add.
2 bedroom/1 bath house in the back of the lot (800 sf).
Cosmetically upgraded. $1100 rent m-t-m. -Also a storage shed. 
(Market Rents with finishing in the range of $3,000 +/-)
 
6733: Four houses that total around 3800 sf.
Main Unit-4 bedroom/2 bath house in front (1500 sf). Many recent upgrades, including electric, HVAC, and newer roof. $1550 rent m-t-m. Unit 6-Small Studio (400 sf). Vacant, some upgrades, but needs more work.
Unit 7-3 bedroom/1 bath house (1200 sf). Some upgrades, including electrical. $1250 rent m-t-m.
Unit 9-1 bedroom/1 bath cottage in the rear portion of the lot (700 sf). Owner pays for electricity.
This is a very long-tenured resident. $625 rent m-t-m. 
(Market Rents with finishing in the range of $5,000 +/-)
 
6737: One house that totals around 800 sf.
1 bedroom/1 bath house in front (800 sf). Recent upgrades include a washer/dryer hookup, with two mini-splits systems added. $975 rent m-t-m. Large storage shed in the back. (Market Rent $1300 +/-)
 
6741: Three houses that total around 1900 sf
Units 19 & 20 make up a duplex in the front of the lot.
Both units are identical 1 bedroom/1 bath units (500 sf-1000 total sf).
19 has been nicely upgraded w/  mini-split, while Unit 20 in process of being partially upgraded/turned.

Unit 16 is in the back and is a 3 bedroom/1 bath house. (900 sf). $1000 rent m-t-m. 
(Market Rents with finishing in the range of $3,500 +/-)

Attractive Seller Financing Terms Available. Default is 30% down/70% LTV. Other terms have some room for negotiation if the price is right.
 
60% upgraded with 40% remaining requiring a moderate to heavy value-add.
All of the structures were constructed between 1945-1968.
Four parcels. Each 7000 sf. Total 28,000 sf. 9 structures + storage sheds.

Located on a well-kept residential block with no commercial. 
Situated in the preferred north of Grand Ave area just a 1/2 mile to Historic Downtown Glendale.
Long-term owner. All month-to-month leases. Clean titles.

This complex has a very high upside as tenants are seeking homes over apartments these days & will pay more/sf.This complex will need more upgrading to reach its full potential. Sold as-is.

Please do not disturb the tenants. Buyer to complete and rely on own due diligence.