Marcus & Millichap is pleased to announce the opportunity to acquire Youngtown House Apartments- a 64 unit apartment community located in Youngtown, Arizona. Built in 1970 by the Suggs Family, Youngtown House Apartments became the only multi-family alternative to the single family, retirement homes located in Youngtown and Sun City, immediately to the east. Constructed of block and concrete, the unit mix consists of studio and one bedroom apartments with all utility costs paid by the landlord. Amenities include a laundry room and covered parking. The current owner has owned this property for 18 years.
Youngtown was Arizona' s first master planned community built exclusively for retirees in 1954. Within a half mile of the property is Fry' s Food and Drug as well as Taco Bell, Subway, Starbucks and Quicktrip. Within a mile is the Banner Boswell Medical Center with its 377 beds and 540 affiliated doctors. In 1998 the age restriction was lifted and growth within the younger age brackets soon followed. With the completion of the nearby Loop 101 (Agua Fria Freeway) in 2001, rapid expansion followed in the surrounding communities such as Surprise, Peoria, Sun City West, yet Youngtown still maintains its small town feel, making it an attractive and affordable living option.
The Youngtown House Apartments are being sold in conjunction with Youngtown Shopping Center, an approximate 67,000 square foot shopping center located adjacent to the 64 units and available for $7,000,000. The seller intends to sell both properties together but may consider individual offers on a case-by-case basis. Please arrange all property tours through the listing agents-Rich Butler or Brian Tranetzki.
