Melrose Place 36

4435 & 4436 North 8th Avenue Phoenix, AZ 85013

FOR SALE Incentives
Property Type:
MultiFamily Apartments
Amount:
$3,960,000
Last Verified:
May 19, 2017

Highlights

  • Vibrant Melrose District Location
  • Near Highest Employment Corridor In Metro Phoenix
  • Fully Leased - 100% Occupied
  • Walking Distance To Light Rail
  • Fully Upgraded Interior & Exterior Renovations
  • 64% of Unit interiors completely renovated
  • New Doors
  • New Windows
  • New Roofs
  • All new amenities
  • Walk to Light Rail Station
  • Walk to eateries, night life shopping and everything Melrose has to offer

Description

KW Commercial is pleased to announce the opportunity to acquire Melrose Place 36 on 8th Avenue - a recently renovated boutique apartment community that boasts mid-century art deco style architecture modernized to fit the discerning young professional tenant base the property now attracts. Located within the highly sought after Woodlea Melrose Historic District, Melrose Place 36 provides an investor with a remarkable opportunity to complete a nearly done and proven re-positioning through completing the remaining 34% of interior unit renovations in one of the most dynamic apartment markets in the U.S. while the exteriors and amenities have been fully renovated.

Melrose Place 36 is snuggled into the end of a cul-de-sac just Southeast of 7th Ave, & Camelback, Melrose Place 36 Apartments, is a boutique, 36 unit, mid-century modern, one and two-story, multifamily community located in the trendy Woodlea Melrose Place Historic District in Midtown Phoenix, just West of Melrose On 7th, near Park Central Mall, Phoenix College, St. Joseph’s Hospital and Medical Center, Carl T. Hayden VA Medical Center, and boutiques and popular eateries such as QCumberz, Retro Ranch, Paris Envy, Flo’s On 7th, Figs Home & Garden, Halo Animal Rescue Thrift Boutique, Melrose Vintage, Copper Star Coffee, Gadzooks, and Taco Guild. The property is located in Midtown Phoenix, in the Melrose District, southwest of the intersection of 7th Avenue and Camelback Road, nestled at the end of the cul-de-sac on 8th Avenue, allowing easy access to the Valley Metro Light Rail, Biltmore Fashion Park, the Camelback Corridor, the valley freeway system and numerous employers. The property is just south of the Grand Canal, which many people utilize for recreation, including running and biking.


Year Built: 1963
Building Size: 26870.0sq ft
Lot Size: 1.38 acres

Map of 4435 & 4436 North 8th Avenue, Phoenix, AZ, 85013

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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:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.