De Novo on Roanoke is a two level, mid-century modern, multifamily community originally built in 1960, fully reconstructed in 2016. De Novo on Roanoke is literally brand new construction in the heart of Central Phoenix with over one million dollars in capital improvements. The strategic repositioning of this asset is clearly measured through extensive interior & exterior renovations showing a true pride of ownership. Extensive capital infusion has succeeded in the ownerships objectives of increasing revenue & minimizing operating expenses, while drastically improving the tenant profile. De Novo consists 50% 2 & 1 bedroom units and all come equipped with, porcelain tile flooring, new kitchen cabinets & quartz counter tops, new stainless steel appliance packages, and exquisite fog glass backsplash tile. All units have brand new individual electric water heater & stackable washer & dryers. This exceptionally remodeled & repositioned property gives an owner a brand new, turn-key asset in one of Central Phoenixs coolest & trendiest locations for apartment living, otherwise known as Uptown. Further upside can still be achieved with rental growth and aggressive management. P
De Novo is located in the Uptown Multifamily Submarket in the City of Phoenix Infill Development District. The area has been experiencing unprecedented growth, gentrification, and rental demand over the last few years. Only a 2 minute walk to the Valleys Metro Light Rail System on Central Avenue & Thomas Rd and access to a variety of local restaurants & entertainment destinations such as; Hulss Mondern Tiki, Lux Caf, Postinos on Central, Windsor, Flower Child, St. Francis, Sauce, Joyride Taco House, Federal Pizza, Taco Guild, Nook, FEZ, the Newton & more. Direct access to the Phoenix Sky Harbor Airport via the light rail is also available. The Central Phoenix neighborhood boasts the highest concentration of employment in the state with nearly 120,000 employees, more than 20 million square feet of office space, and over $4 billion of infrastructure & Investments made within a couple miles of De Novo, including the growing Downtown ASU Campus, College Of Nursing & Healthcare Innovation, Phoenix Biomedical Campus, U of As College of Medicine and Cancer Research Center. Some other major area employers of note include the City of Phoenix, Wells Fargo, JP Morgan Ch
