3816 E McDowell Rd
Phoenix, AZ 85008
Harbor View Apartments · Multifamily Property For Sale · 52 Units

ARA is pleased to announce the availability of Harbor View, a 52 unit pride of ownership community in East Phoenix. There are very few quality properties under 100 units in East Phoenix making this a rare opportunity for investors. Harbor View has tremendous curb-appeal and benefits greatly from its frontage on McDowell Road which is a major East-West thoroughfare providing a huge rent driver for the property. The neighborhood directly north of Harbor View consists of 1950’s and 60’s built single family homes on large lots that in recent years has experienced significant gentrification with homeowners purchasing and updating the homes which continues to improve the character of the neighborhood and increase property values. Harbor View was constructed in 1981 of wood frame and has an attractive modern stucco exterior. The community is individually metered and consists of spacious one bedroom floor plans with a portion of them having private patios that are in high demand. The community features an attractive courtyard and pool along with a barbecue and picnic area for residents to enjoy. The property also offers covered parking, a laundry facility and a leasing office. Renovations to the property have been made in recent years in a portion of the units which include ceramic tile flooring, tiled countertops, appliances, water heaters, toilets, and sunscreens. Harbor View’s rents have continued to increase in recent years due to the strong economy and because of all the redevelopment activity of Apartment Communities in the 3 blocks from McDowell Road north to Camelback Road. Over the past 5 years a majority of these Apartment communities within these blocks have been redeveloped or are in the process of being redeveloped and upgraded into A quality properties that have doubled and in some cases tripled the rents, post renovation. This has resulted in a supply/demand imbalance in the affordable B and C class inventory in East Phoenix. Harbor View has benefited from the increased demand and lack of affordable supply and will continue to do so as the redevelopment to the north continues. Further upside in rents could be achieved by upgrading the finish levels of the unit interiors. In addition to the residential and apartment redevelopment, the commercial redevelopment in the blocks to the north has continued to transform the landscape of these neighborhoods with popular shops and trendy restaurants providing residents with the Live, Work, Play environment. Residents of Harbor View enjoy being just minutes from neighborhood hotspots The Vig, Crudo, The Attic Ale House, Sacks, Zoe’s Kitchen, La Grande Orange, and Pita Jungle. Furthermore, there are two large shopping centers within one block of the community, which are the Arcadia Crossing Shopping Center and Desert Palms Shopping Center. Those neighborhood retailers include a Target, Costco, Fry’s Grocer, Petco, Office Max, Ross, Home Depot, Walmart and Planet Fitness. Harbor View offers an investor a pride of ownership community located in the high demand rental neighborhood in East Phoenix that offers an investor additional upside in rent.