6725 N 17th Ave
Phoenix, AZ 85015
Level on 17th · Multifamily Property For Sale · 29 Units

ARA is pleased to announce the availability of Level on 17th, located just North of Maryland Avenue. This location historically has been a quiet, stable residential neighborhood and is transitioning into part of the vibrant urban core. Just a few blocks East of community lies the Central Corridor which has seen significant demand, re-development and gentrification in the past 5 years combining walkability and a plethora of amenities in a true work-live-play setting. This neighborhood revival has started to spread West of the Central Corridor in recent years towards 15th and 19th Avenue spurred on by the Valley Metro Light Rail extension two years ago. The new station at 19th Avenue and Glendale is less than a 3 minute walk from Level on 17th and provides residents connectivity to the Central Corridor, Midtown and Downtown Phoenix. This extension along with continued redevelopment of commercial properties along 19th Avenue has spurred significant rental demand in the neighborhood. Level on 17th is a single story community built in 1974 of block construction and is individually metered for electricity. The property exterior was completely repositioned in 2015/2016 by previous ownership. Some of the major improvements to the property include new exterior smooth stucco painted an attractive gray with modern bright red screen and front door accents, all new dual pane windows, contemporary porcelain pillars and entryways, new modern aluminum awnings, light fixtures, and gates, new property signage, all new desert landscaping with colorful plants and trees(triple tiered junipers, iris’s, red yuccas, oleanders, bougainvilla’s, and palo verde trees) all of which provide a clean, modern vibe to the property. Additional improvements include all new gates surrounding the community which require resident key-access and provide privacy and security as you enter the wow factor of the community, the courtyard. Once in the courtyard, residents enjoy a modern oasis with a resort feel centered around a large shaded Cabana Island with contemporary porcelain pillars that compliments pool furniture(couches,lounge chairs, glass wicker tables) and a custom built-in top of the line barbecue. Adjacent to the Cabana Island is a pebble tech pool and sundeck for residents to enjoy. On either side of the pool and Cabana are large grass areas with mature trees providing residents the ideal outdoor living space. Further improvements made in the courtyard include artificial grass in several areas, new pool tiles and deck, and new block walls. The laundry room was renovated along with the construction of a brand new modern leasing office with porcelain tile flooring, furniture and private bathroom. Interior improvements to roughly half the units were made by previous ownership, as well. Those improvements include resurfaced cabinets and countertops, new ceramic tile flooring, ceramic tile showers, and new sliding glass doors in all 16 of the 2 bedroom 2 bath units. Although these improvements upgraded the units just a few years ago, investors are implementing 2nd generation modern upgrades to the interiors in the neighborhood and achieving much higher rents. With the implementation of the aforementioned modern upgrades, 2x2’s in the neighborhood are exceeding $1,000 and with adding washer & dryers in the units up to $1,100. Each of the 2x2’s has a linen closet off the bathroom that would allow a stackable washer & dryer to be installed. Level on 17th offers an investor the tremendous opportunity to acquire all the aspects of an ideal rental community. These aspects include a majority two-bedroom unit mix, low density single story units with private patios and shaded balconies, attractive grass courtyard with a Cabana Island and pebble tech pool, that shows tremendous curb appeal and pride of ownership and is in the path of the expanding and booming Central Phoenix Corridor.