EXCLUSIVE MULTIFAMILY OFFERING
2627 N. 45th Avenue | Phoenix, AZ 85035
89% Two- and Three-Bedroom Floorplans
EXCLUSIVE MULTIFAMILY OFFERING
2627 N. 45th Avenue | Phoenix, AZ 85035
89% Two- and Three-Bedroom Floorplans
301
TOTAL UNITS
909
AVERAGE SF
±16.6
ACRES
Berkadia is pleased to present Villas de Azul, a 301-unit infill opportunity in West Phoenix. A meticulously maintained community with substantial capital infusion, Villas de Azul features an attractive unit mix consisting of 89% two- and three-bedroom floor plans with a spacious average unit size of 909 square feet. The community’s attractive unit mix is augmented by a low three-bedroom supply submarket. Villas de Azul’s 136 three-bedroom units represent 22% of the total three-bedroom supply within a three-mile radius. Villas de Azul presents excellent proven value-add upside. Currently the community is 48% renovated with renovated units capturing an average of $180 premiums over classic units.
Advantageously located in West Phoenix with unrivaled positioning to the I-17 and new Loop 202 & I-10 interchange, Villas de Azul’s ultra-connected location will continue to support strong multifamily fundamentals fueled by Phoenix’s growth pattern and the Southwest Valley’s durable and expanding employment base. Villas de Azul is offered free and clear for an investor to freely explore today’s financing environment.
TWO-STORY, GARDEN-STYLE COMMUNITY WITH SPACIOUS LAYOUTS, BALANCED UNIT MIX
Villa’s de Azul features an attractive unit mix consisting of one-(11%), two-(43%), and three-bedroom (46%) floor plans.
LIMITED THREE-BEDROOM COMPETITION
Three-bedroom supply within a three-mile radius of the community totals only 611 units, making Villas de Azul’s 136 three-bedrooms 22% of the submarket’s total supply.
SUBSTANTIAL CAPITAL INFUSION
Recent capital improvements total +2.2M, primarily reinvested in value-add and asset preservation projects.
PROVEN VALUE-ADD POTENTIAL
Villas de Azul features 158 classic units and 143 Platinum units. A completed interior renovation program provides an estimated $113/unit premium over average effective rents, equating to a total $400,000 in potential annual rent upside.
DURABLE AND EXPANDING EMPLOYMENT BASE
Villas de Azul benefits from its exceptional access to the Southwest Valley’s Industrial Corridor. As the epicenter for manufacturing, shipping, and logistics, the corridor is home to ±115,000 employees and ±2,700 businesses.
ULTRA-CONNECTED LOCATION
Villas de Azul is advantageously positioned just two miles from the intersection of the I-10 Interstate and the recently completed Loop 202 freeway. The new Loop 202 has drastically reduced commute times to the east valley, perfectly positioning Villas de Azul to remain a value-provider for the entire metro.
Price
Market
Terms
Cash
Construction
Two-Story Garden
Number of Units
301
Average Square Feet
909
Parcel Size
±16.6 Acres
Density
±18.2 Units/Acre
Units Mix
89% Two and Three-Bedroom Floorplans
*Select Units
contact us
2525 E. Camelback Road
Suite 1150
Phoenix, AZ 85016
602.955.1122
Senior Managing Director
602.828.0074
ric.holway@berkadia.com
Managing Director
602.327.4447
dan.cheyne@berkadia.com
Senior Managing Director
602.526.4800
mark.forrester@berkadia.com
Director
602.571.4190
andrew.curtis@berkadia.com
Operations Director
602.445.1674
kristin.watson@berkadia.com
2627 N. 45th Avenue | Phoenix, AZ 85035
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