5102 16Th Ave Phoenix, AZ 85015

Property Details for 5102 16Th Ave

Year built

2023

Lot size

0.42 lot acres

Property size

15,200 SF

Property type

Residential income homes

Description

This exceptional 8-unit townhome community, built in 2023, presents a compelling Core+ investment opportunity in the heart of Phoenix, Arizona. Situated on a 0.42-acre lot (APN: 156-38-149 - -161), this Class A property boasts 15,200 square feet of net rentable space, spread across two two-story buildings. Each of the eight units features three bedrooms, two-and-a-half bathrooms, a two-car garage, and a spacious backyard patio with pavers and artificial turf. High-end finishes throughout include quartz countertops and backsplashes, light oak cabinets with chrome hardware, wood-inspired flooring, and modern farmhouse-inspired light fixtures. Additional luxury features include stainless steel appliances, recessed lighting, barn doors, double vanity master bathrooms, walk-in glass showers, large soaking tubs, and expansive walk-in closets with built-in storage. The property's prime location in Central Phoenix, within the Melrose, Uptown, and Midtown submarkets, offers unparalleled access to high-end retail, restaurants, bars, and nightlife, as well as major employment centers. Its proximity to the Valley Metro Light Rail provides convenient transportation options. The property's strong performance and potential for organic rent growth, coupled with opportunities to increase revenue through utility billback and technology package implementation, make this a truly unique investment opportunity. Comparable recent sales in the area have reached $522,500 to $550,000 per unit, indicating significant potential for appreciation. This is a rare chance to acquire a legacy asset in a thriving build-to-rent market. The address is 5102 N 16th Ave, Phoenix, AZ 85015.

Location Insight

City

Phoenix

County

Maricopa

State

Arizona

Longitude

-112.093

Latitude

33.5112