55 Units READY TO BUILD Parc 59 Apartments

5810 N 59th Dr Glendale, AZ 85301

5810 N 59th Dr, Glendale, AZ, 85301
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FOR SALE
Property Type:
Multifamily Land
Amount:
$1,595,000
Last Verified:
Jan 10, 2024

Highlights

  • 3.5-acre Parcel w/ Plans for 55 Units
  • R-4 Zoning - Allows for 20 units/acre if a Different Layout is Desired
  • Two-Story Maximum for Glendale R-4 Zoning
  • Site Plan Approved by City of Glendale
  • Design & Zoning Approved
  • Construction Docs Approved & Ready for Permit to be Pulled
  • Single-story Units, Two Story Buildings
  • Property was Designed w/ a Management Office Onsite
  • 70% Spacious 2 BR, 2 BA 1,122 SF Units w/ Split Floor Plans & Balconies
  • 30% Spacious 1BR/1BA w/ 722SF
  • Walk In Laundry Room w/ Washer/Dryer in Each Unit
  • Consists of the Following FIVE Tax Parcels:
  • 144-30-008D (House on N 59th Ave)
  • 144-30-008C (Main Property at the end of N 59th Dr)
  • 144-30-005D (Adjacent Property at the end on N 59th Dr)
  • 144-30-008F (North Half of Vacated Solano Dr)
  • 144-30-001D (South Half of Vacated Solano Dr)

Description

READY TO BUILD, PERMITS READY TO BE PULLED. City-approved construction docs ready to go for a 55-unit modern apartment development. Fantastic rental area near downtown Glendale. 70% 2 BR/2 BA design with washer dryer, individually metered, and nice sized balconies accessible from both the living room and master bedroom. Cash sale or open to negotiation on JV with some cash down and land can be contributed to the deal. R-4 zoning allows for up to 70 units to be built (20 units/acre) should the owner wish to do a different layout than currently designed and City of Glendale approval is obtained. Parking spaces are required at a ratio of 2.3 spaces/unit.

The proposed project will consist of the development of a vacant site of approximately 3.5 acres into 55 rental apartment units with supporting parking, and amenity areas. The apartment units will be contained within two two-story buildings arranged between a courtyard area containing a pool, spa, shaded ramada, and BBQ grill. Other provided amenities include a storage area in the panhandle of the property, allowing extra income to the owner. Panhandle area can also allow for a great dog run, and exercise path along a landscaped retention area. Generous garden and landscaped areas will be provided to create a pleasing setting for the buildings and to create useable outdoor spaces for the residents.

The residential units will provide 1-bedroom/1-bathroom and 2-bedroom/2-bathroom configurations with Living Room, Dining Room, Kitchen, washer and dryer, closets, and other supporting spaces. Each unit will have its own private patio or balcony facing the courtyards, or landscaped areas of the development.

The two-story buildings are residentially scaled and have been designed with a contemporary influence in mind. This architectural character is appropriate for our Arizona desert environment. The predominant exterior material is stucco with accent banding and concrete tile roofs. The varying roof elements and balcony railings add variation to the elevations and create familiar and comfortable forms. The color variations between the different elements are subtle grey tones that complement nearby developments.

The project includes the demolition of an existing one-story home into a leasing office entrance facing 59th Avenue. The improvements will include a complete interior renovation to provide a leasing office, leasing reception, and guest-accessible restroom for the project’s leasing manager. Alternatively, this space could be utilized as a clubhouse or workout room for the community. There are 3 potential entrances/exits on this property should one wish to reconfigure the layout. Lots of options and possibilities.

The vision for the project is to provide a quaint residential community that provides efficient and comfortable dwelling units, and a variety of amenities that enhance the lives of its residents and strengthen their sense of community. Owner/Agent.

South of the Southwest Corner of 59th Ave and Bethany Home Road with 85 feet of frontage along 59th Ave!

Lot Size: 3.51 acres


Documents

55 Units READY TO BUILD Parc 59 Apartments

Map of 5810 N 59th Dr, Glendale, AZ, 85301

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

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