1930 W Van Buren St Phoenix, AZ 85009

Las Casitas Villas is a lender-owned (REO) 30 unit apartment community located near Downtown Phoenix. The property appraised for 580K as land alone. Please see document tab for Flyer and Appraisal. The property is less than a mile from the State Capitol building in a commercial and residential neighborhood and has tremendous frontage on Van Buren Street, a major East-West thoroughfare. The property directly adjacent to Las Casitas Villas is owned by a non-profit church, Neighborhood Ministries (NM). NM is currently in the process of redeveloping the 12 acre property and building a campus that will provide a pre-school, activity center with tutoring and leadership training after school for low income families. Furthermore, the Metro Light Rail received approval in early 2013 for an from the existing Downtown Phoenix Metro line that will run by the State Capital Building and along Van Buren Street directly in front of Las Casitas Villas. The Light Rail Station will be at the State Capital Building which is within a one minute walk of the property providing a tremendous benefit for residents.

Las Casitas Villas is a single story community situated on 1.65 acres and consists of 20 individual casita units, 3-duplexes and one 4-plex. The pueblo style buildings consist of all stucco-covered masonry block walls with built up roofs and each of the units have small enclosed front patios. The property has additional storage with a large building with separate garages and one of them has been built out for a spacious laundry room for the property. The property has a long U-shaped drive way highlighted by a center courtyard with mature palm trees. The property is currently 50% occupied and in need of renovation. To be sold As-Is.

Las Casitas Villas offers an investor the opportunity to acquire a lender owned (REO) single story apartment community priced at $16,633 per unit in the active path of redevelopment.

PLEASE CONTACT THE LISTING AGENT FOR ALL PROPERTY TOURS

INVESTMENT HIGHLIGHTS

•Bank Owned (REO Sale)
•Value-Add Opportunity
•Positive Redevelopment in Neighborhood
•Located along Future Light Rail Line
•Near Downtown Phoenix
•1 Block North of State Capitol Building
•Blended Residential/Commercial Neighborhood
•Great Frontage and Visibility
•Priced at $14,167/unit