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Malibu on Maryland 521 W Maryland Ave 4 Unit Apartment Building $1,100,000 ($275,000/Unit) Phoenix, AZ 85013
EXECUTIVE SUMMARY
Advantageously placed just East of 7th Avenue and Maryland Avenue intersection and hidden within one of Central Phoenix's affluent residential areas is Malibu on Maryland (“the property”). This Fourplex primely located in the heart of the iconic Uptown submarket within North Central Phoenix and offers proximity to two of Phoenix Metro's major transportation arteries, State Route 51and Interstate 17, providing residents direct access to nearly any destination across The Valley. Some of those nearby destinations include the most prominent employment and entertainment corridors in the state. Primely positioned near the Innovation Employment Corridor, which runs down Central Avenue, presents employment opportunities from some of the most prolific companies in Arizona such as Banner Health and IBM. Additionally, the Biltmore Employment Corridor where names such as Cisco and Charles Schwab are stationed, also offers numerous dining and entertainment amenities. Together, the Innovation and Biltmore Corridors showcase over ±117,000 employees and ±3,300 employers.
Built in 1954 and fully renovated in 2021, Malibu on Maryland is comprised of (2) one-bedroom one-bathroom and (2) two-bedroom one-bathroom floorplans covering an average of ±794 square feet. All units have been renovated with interior upgrades including new appliances, countertops, cabinets, flooring, fixtures, hardware and individual washer/dryers.
Built in 1954 and fully renovated in 2021, Malibu on Maryland is comprised of (2) one-bedroom one-bathroom and (2) two-bedroom one-bathroom floorplans covering an average of ±794 square feet. All units have been renovated with interior upgrades including new appliances, countertops, cabinets, flooring, fixtures, hardware and individual washer/dryers.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $1,100,000 | Building Class | C |
| Price Per Unit | $275,000 | Lot Size | 0.28 AC |
| Sale Type | Investment | Building Size | 3,175 SF |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1954/2021 |
| Property Subtype | Apartment | Parking Ratio | 2.52/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-3 | ||
| Price | $1,100,000 |
| Price Per Unit | $275,000 |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 3,175 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1954/2021 |
| Parking Ratio | 2.52/1,000 SF |
| Zoning | R-3 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | $897.00 | 700 |
| 2+1 | 1 | $1,800 | 875 |
| 2+1 | 1 | $1,825 | 900 |
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PROPERTY TAXES
| Parcel Number | 161-31-003 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $18,044 |
PROPERTY TAXES
Parcel Number
161-31-003
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$18,044
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Malibu on Maryland | 521 W Maryland Ave
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