9423 17Th Ave Phoenix, AZ 85021

Property Details for 9423 17Th Ave

Year built

1985

Lot size

1.44 lot acres

Property size

48,960 SF

Property type

Commercial real estate

APN

158-23-018A

Description

This exceptional 72-unit apartment community, The View at North Mountain, presents a compelling investment opportunity. Built in 1985 and situated on a 1.44-acre lot in Phoenix, Arizona (9423 N 17th Ave, 85021), this multifamily property boasts 48,960 square feet of net rentable space, distributed across seven, three-story buildings. The property features a mix of 18 one-bedroom and 54 two-bedroom units, averaging 680 square feet each, with 100 parking spaces available. Conveniently located east of the I-17 Freeway, north of Central Phoenix's major employment corridor, near the intersection of 17th Avenue and Hatcher Road, the property benefits from its proximity to the North Mountain Preserve and the burgeoning North Mountain Redevelopment Area. This area is experiencing significant gentrification, fueled by a $179 million capital investment focused on infrastructure improvements and job creation. The I-17 Employment Corridor, with over 43,000 employees across approximately 1,200 businesses (including major employers like BlueCross BlueShield, Wells Fargo, and Waste Management), provides a strong employment base for potential tenants. The property is zoned R-4, offering future owners the potential to implement a renovation program and capitalize on the current market's high rental rates. This is a rare chance to acquire a well-positioned asset in a rapidly developing area of Phoenix.