2339 W Northern Ave | Phoenix, AZ 85021
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
2339 W Northern Ave
Phoenix, AZ 85021
Northern Terrace · Multifamily Property For Sale · 51 Units
Investment Highlights
- 82% Two-Bedroom Floor Plans Averaging 863 Square Feet
- High Visibility Community with Traffic Counts of 31,000 Vehicles per Day
- Rapidly Improving 19North Neighborhood Location with Proximity to the $850M Metrocenter Mall Redevelopment
- Fully Renovated Property with High Finish Levels
- Extremely Strong Submarket Fundamentals (Projected 2-year absorption rate over 99%)
Executive Summary
JLL is pleased to offer Northern Terrace, a 51-unit garden-style apartment community in the Central Phoenix submarket. Built in 1964, the property is made of block construction with built-up roofs and individually metered for electricity. Northern Terrace is situated on approximately 1.87 acres and features beautiful landscaping with lush turf, mature shade trees, and low-maintenance desert plants.
Northern Terrace provides a prospective investor the rare opportunity to acquire a fully renovated asset in a prestigious 19North neighborhood of Central Phoenix. Current units are listed under market value by over $115+ per unit. Northern Terrace can provide an increase of $ 70,000+ in monthly rental revenues once units are marked-to-market
with additional potential for growth from the high demand and barrier to entry of the property’s dynamic in-fill location in Central Phoenix.
Northern Terrace provides a prospective investor the rare opportunity to acquire a fully renovated asset in a prestigious 19North neighborhood of Central Phoenix. Current units are listed under market value by over $115+ per unit. Northern Terrace can provide an increase of $ 70,000+ in monthly rental revenues once units are marked-to-market
with additional potential for growth from the high demand and barrier to entry of the property’s dynamic in-fill location in Central Phoenix.
PROPERTY FACTS
| Price Per Unit | $196,078 | Lot Size | 1.87 AC |
| Sale Type | Investment | Building Size | 42,574 SF |
| No. Units | 51 | Average Occupancy | 92% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1964/2023 |
| Apartment Style | Low Rise | Parking Ratio | 1.6/1,000 SF |
| Building Class | C |
| Price Per Unit | $196,078 |
| Sale Type | Investment |
| No. Units | 51 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 1.87 AC |
| Building Size | 42,574 SF |
| Average Occupancy | 92% |
| No. Stories | 2 |
| Year Built/Renovated | 1964/2023 |
| Parking Ratio | 1.6/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Heating
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Deck
Site Amenities
- Pool
- Grill
- Pet Play Area
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | - | 620 |
| 2+1 | 24 | - | 825 |
| 2+2 | 18 | - | 913 |
| 3+2 | 4 | - | 985 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $5,061 | Total Assessment | $182,644 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$5,061
Improvements Assessment
$0
Total Assessment
$182,644
zoning
| Zoning Code | R-5 |
| R-5 |
Learn More About Investing in Apartment Buildings
1 of 12
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
