Twenty on Mountain View 1346 E Mountain View Rd 20 Unit Apartment Building $3,925,000 ($196,250/Unit) 6.01% Cap Rate Phoenix, AZ 85020

Twenty at Mountain View provides a tremendous opportunity for an investor to acquire a 20 unit “B” Class community with an ideal unit mix of all large 2 Bedroom units with individual private patios. This low-density community is situated on nearly an acre with great curb appeal on Mountain View Road. The property is located in a quiet residential neighborhood surrounded by single-family homes and is nestled in the foothills of the majestic Phoenix Mountains Preserve. Given the infill location and surrounding Mountain Preserve, there is no ability to add new Multifamily developments which provides a competitive shelter and keeps occupancies high for ownership. The diverse desert mountain landscapes boast miles of trails within minutes of residents doorstep with several peaks and vistas for residents to enjoy incredible views of the surrounding city while in relative solitude. The Phoenix Mountain Preserve has over 20 miles of hiking, biking and horseback riding trails.

Major interior capital improvements and added amenities have been made in recent years that have upgraded and elevated the look and feel of the unit interiors.

• New vinyl wood-style flooring with 4” baseboards
• Two-tone paint
• White shaker cabinets
• Modern countertops
• Stainless steel appliances including dishwashers
• Oversized kitchen sink with stainless steel gooseneck faucet
• New blinds
• Ceiling fans & lighting
• New bathroom vanities
• Toilets
• Shower/tub surrounds
• Full size front load washer/dryers

Major exterior capital improvements and added amenities have been made in recent years that have upgraded and elevated the look and feel of the community.

• Newly Installed Electric Gate ($51K)
• 3 Large Synthetic Grass Areas
• 2 Concrete Table Sets
• Pool resurface
• New Iron Pool Fencing
• 120 Tons of Low Maintenance Desert Rock
• Property Signage
• Wood Fencing – Large Private Patios
• Exterior Paint

Twenty at Mountain View was constructed in 1986 of frame wood construction atop a concrete slab. Given the age of construction, the plumbing and electric are built to modern standards. This includes copper plumbing supply, abs sewer lines and 100-amp electric panels without aluminum branch wiring. These modern systems significantly reduce insurance costs and provide piece of mind to ownership that no major capital improvement costs will be incurred due to aging plumbing and electric systems.

Twenty at Mountain View is just a 5-minute commute to the thriving urban culture of the North Central Uptown & Business Corridor. The Uptown Corridor offers residents ample restaurant and retail options, including the vibrant entertainment district along 7th Street and Bethan Home Road as well as Uptown Plaza at Central & Camelback. The Central Business Corridor is home to over 53,000 employees boasting some of the largest health care companies in the State including Dignity Health, Banner Health, St. Joseph’s Hospital and Medical Center, Creighton University, Phoenix Children’s Hospital and the world-class Barrow Neurological Institute.