2025 E Turney Ave
Phoenix, AZ 85016
Turney Place Apartments · Multifamily Property For Sale · 28 Units

Turney Place Apartments is a 28-unit apartment community located in the heart of Central Phoenix in the highly sought after Biltmore submarket. This property is a rare value-add opportunity in one of the most popular areas in all of Arizona. Turney Place is located minutes from "ground zero" of Phoenix with the 24th Street & Camelback intersection and the Biltmore Fashion Park being approximately one mile away. 24th Street and Camelback has some of the highest office and residential rents in the state. The Biltmore Fashion Park is a popular destination spot with the new Life Time Fitness diamond-level club opening in March 2020. It is also the location of high-end retailers and restaurants such as Macy's, Saks Fifth Avenue, and Ralph Lauren along with The Capital Grille, Zin Burger, California Pizza Kitchen, Blanco Tacos, and Bamboo Sushi, just to name a few. Also within walking distance is the Town & Country Shopping Center and Camelback Colonnade with Trader Joes, Fry's, In-N-Out Burger, Hopdoddy Burger Bar, the famous Pizzeria Bianco, and Whole Foods, all less than a half mile away. A property like this, right off one of the most desirable intersections in the Camelback corridor, is truly special and hard to come by. This location is as central is it gets and allows residents to enjoy, with ease, so much of what Biltmore has to offer. Two separate entrances to the 51 Freeway are also within minutes, allowing residents of Turney Place to be in Downtown Phoenix or at the airport in less than 10 minutes. Downtown Tempe and Downtown Scottsdale are also less than 15 minutes away from this amazingly central location. With many dining, shopping, and entertainment options, as well as multiple freeway access points all within minutes, Turney Place Apartments is an extremely desirable location for residents and has consistently stayed fully occupied. Turney Place Apartments is a 1960-constructed, mid-century building with block construction. The owner has recently redone the parking structures and roof, with plans to redo the pool and parking lot prior to someone closing on the property. The units themselves are fairly original (with great mid-century bones), allowing an investor to add amazing value with their own touch and upgrades. The sky's the limit in this location with how far someone may want to take the level of finishes and quality of the remodel. The project also sits on just over 2 gross acres (1.9+/- net acres) of land. Given the location of this property, it could potentially be a highly desirable redevelopment opportunity for someone down the road. The property is individually metered for electricity and has a very attractive unit mix with (13) 2-bed / 1-bath units, (13) 1-bed / 1-bath units, a 2-bed / 2.5-bath unit, and a 3-bed / 2-bath unit. Turney Place Apartments offers a rare, value-add opportunity in a location that is hard to beat for this type of project. The popular mid-century architecture and construction would allow an owner to really create a beautiful project for its residents in a location where an owner would be happy to own for a long time.