Villa Angela is a 32-unit community located in North Central Phoenix just to the south of the North Mountain Preserve. This preserve provides residents with over 20 miles of hiking, biking, and horseback riding trails. Residents also enjoy being with close proximity to Cave Creek Park which is one of the largest outdoor sports and recreation parks in Metro Phoenix offering lighted softball and baseball fields, soccer fields, basketball courts, tennis courts, sand volleyball courts, ramada/picnic areas, playgrounds, restrooms, dog parks, and lots of walking and biking trails . Metrocenter Mall is in close proximity to Villa Angela and offers residents a tremendous amount of shopping and employment options with its 125 retailers eateries and department stores including Dillard’s, Macy’s, and Sears and a 12 screen Harkins Theaters. Furthermore, the community is just one block from major office & industrial parks including Karsten Industrial Park(home of Ping), Metro Research Center, Hewson/Copley Northwest, and Black Canyon Commerce Park.
Villa Angela was constructed in 1986 of wood-frame construction with stucco exterior, pitched roofs, and is individually metered for electricity. This 2-story community is situated on 1.7 acres of land and consists entirely of 2 bedroom-one bath units measuring 800 square feet. These spacious floor plans provide a living room that opens into a large kitchen with plenty of cabinets and countertop space and offer residents electric appliances and dishwashers. Community amenities include a swimming pool, picnic tables & barbecue area, grass courtyards, and a detached building that has a laundry room and large storage/tool room. Exterior Improvements and renovations in recent years include new roofs, new fascia, majority new A/C units, complete exterior paint, pool resurface including dual drains, and low maintenance desert landscape. Interior improvements include ceramic tile and wood laminate flooring, resurfaced countertops, and new cabinets in select units. Currently the property is 100% occupied with a long-term tenant base and rents well below market. Rent upside of $150-$200 can be achieved by implementing a few strategic improvements to the property. First, the unit interiors can be upgraded with modern finishes and colors as has been the trend with investors in recent years. Secondly, the units have the space and ability to add washer & dryers in the large pantry directly off the kitchen close to the sink making it easy to tie into the plumbing. Lastly, most of the downstairs units have large space outside the front or back of their units in which you could add patios to the downstairs units to further increase rents. All 3 of these improvements have been popular value-add with investors and are improvements that are in high demand by residents.
Villa Angela represents the opportunity to purchase a well-maintained, 1986 constructed community, comprised of all 2 bedroom units that is consistently 100% occupied.
