2020 W Orangewood Avenue, Phoenix, AZ 85021
- $3,895,000
- 28
- BD
- 41
- BA
- List Price
- $3,895,000
- Status
- ACTIVE
- Days on Market
- 171
- MLS#
- 7004263
- Subtype
- Multiple Dwellings
- Year Built
- 1986
- Bedrooms
- 28
- Bathrooms
- 41
- Subdivision
- Terra Bella
Property Description
The Mojave is a 27-unit, garden-style multifamily community located in Phoenix, AZ. Originally constructed in 1986 and extensively renovated in 2022, current and previous ownership has invested over $680,000 in capex into the property including a full interior renovation package on all 27 units (all with washer/dryer), new roof, asphalt replacement, upgraded landscaping, exterior painting and fencing, more. Even with significant capital improvements made over the past 5 years, new ownership can capture immediate upside by replacing the grass area with artificial turf, which will generate an estimated $5,000 to $10,000 in annual expense savings. This is a compelling opportunity for investors seeing a true turnkey, cash flowing asset with additional upside potential.
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Additional Information
- Taxes
- $5,371
- Zoning
- R-4
- Appliances
- Built-In Range, Refrigerator, Disposal, Microwave, Washer/Dryer
- Heating
- Electric, Varies by Unit
- Air Conditioning
- Varies by Unit
- Exterior Construction
- Wood Frame, Painted, Stucco
- Pool
- Yes
- Parking Features
- 1 Space/Unit, Paved
Listing courtesy of Matthews Real Estate Investment Services.
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