5124 N 21st Ave Phoenix, AZ 85015

Casa Miguel is a single story 9-unit apartment community located in an established Central Phoenix neighborhood. The property is located just North of Camelback Rd on 21st Ave and is walking distance from the Valley METRO Light Rail. Just one block North of the property is Christown Spectrum Mall, which has 1.1 million square feet of retail with over 50 stores including a Super Target, JCPenney, Costco, WalMart Supercenter and a 14 screen Harkins Theatre. These drivers provide residents with a tremendous amount of employment, shopping, and entertainment venues all within a block of the community. Casa Miguel was developed and completed in 1974 and is situated on over 1/2 acre rectangular shaped lot. The property is individually metered for electricity with individual water heaters and roof mounted HVAC's. The property has a great unit mix consisting of one 1 bedroom and 8 two bedrooms units which include private back patios. The community has covered parking and a laundry facility. The property has an attractive courtyard with lush grass, mature trees, and a picnic and barbecue area for the residents to enjoy. The property is currently 100% occupied with below market rents. There is upside in the rents of $25-$50 through minor upgrades to the units.

Casa Miguel offers an investor the opportunity to acquire an attractive single story garden style community in a great Central Phoenix neighborhood that is individually metered, majority 2 bedrooms with rental upside.


INVESTMENT HIGHLIGHTS

•Single Story, Block Construction
•8 Two Bedrooms, 1 One Bedroom
•Individually Metered
•Covered Parking, Laundry Facilities
•Attractive Courtyard
•Located Near Light Rail Station
•One Block from Christown Spectrum Mall
•100% Occupied with Below Market Rents