224 4th Ave E Buckeye, AZ 85326

New Valencia is a 20-unit garden style apartment community located in a developing Buckeye neighborhood. Built in 1960, the property is made of block construction with pitched roofs and is individually-metered for electricity. This single story garden style community has an excellent unit mix of one and two bedroom floor plans which range in size from 500 to 700 square feet and are very spacious and well designed. The community is situated on approximately one and a half acres and is made up of 10 individual parcels with low maintenance desert landscaping.

New Valencia offers an investor the opportunity to acquire a garden-style apartment community located in an improving Goodyear/Avondale submarket with value-add potential. In the second quarter of 2015, the submarket vacancy averaged 5.42%, 28 basis points lower than the metropolitan Phoenix average. With the Improving submarket fundamentals coupled with the Phoenix markets continual improvement and recovery, New Valencia is well positioned to achieve increases in revenue.

New Valencia is located in between 4th and 5th Avenue East just south of Maricopa Road. The property is within proximity to Buckeye Union High School, and the State Route 85 Highway. There are also numerous entertainment, dining, and employment centers within minutes of New Valencia Apartments making its location attractive for residents. Major employers in the area include Wal-Mart, Schult Homes, Marlette Homes Inc., Fry's Food Stores and Buckeye Union High School.

*The property has a Land Use Restriction Agreement. Please contact the listing agents for details.