Mode at 21st Street 4401 N 21st St 18 Unit Apartment Building $4,250,000 ($236,111/Unit) Phoenix, AZ 85016

With the Turney Villas strategic location, the asset presents a rare development, reposition or multifamily opportunity located within the highly desirable Biltmore and Midtown Phoenix corridor.
Development Opportunity
The property was rezoned to R4A with prior approval for up to 64 multifamily units across a 4-story configuration, creating additional long-term redevelopment and exit strategy potential.
Reposition Opportunity
There are few properties of this quality only a few blocks from one of the premier high-end, commercial, intersections in Phoenix. The Camelback Road and 24th Street area includes a million sf, Esplanade, with four Class A office towers, the 600,000+ sf high-end, Biltmore Fashion Mall and the 640,000 sf Biltmore Class A office complex. The portfolio offers investors the ability to reposition the asset to attract one of the many high-end companies.
Prime Central Phoenix Location
Located near major employment centers, retail, dining, and the AZ-51 corridor, the property benefits from strong renter demand and continued multifamily growth throughout Central Phoenix.
Redevelopment & Density Potential
Strong Market Fundamentals
Phoenix continues to experience strong population growth, employment expansion, and housing demand, supporting long-term rent growth and appreciation within infill multifamily locations.Turney Villas offers investors a strategically positioned multifamily opportunity combining stable occupancy, operational upside, and future redevelopment potential within one of Phoenix’s most active rental corridors.
This Listing consists of 4 separate parcels that all have to be purchased together.