The Cove is a unique 16 unit single story cottage style community located in northwest Phoenix. The unique nature of this community is emphasized by the charming curb appeal of the red brick exterior detached buildings and the palm tree lined circular driveway around a large grass courtyard. The property is located just south of Northern Avenue and has great street frontage on 27th Avenue. Adjacent to The Cove is Northview Acres, a well-established Phoenix neighborhood known for its singlefamily ranch style homes on large lots and horse property giving the neighborhood character and a sense of community that is unique in the heart of Central Phoenix. Furthermore, within 2 miles of the community is the booming Grand Canyon University, which has recently gone through a $100 million dollar renovation and has another $500 million dollar renovation planned in the upcoming years. This provides a tremendous benefit to the local submarket through added employment and educational opportunities.
The Cove is situated on 1.56 acres and consists of 10 detached cottage style brick constructed buildings, each of which have a lot of character with brick flower beds outside each unit and plantation shutters on the outside windows. This low-density community offers residents spacious units with slightly vaulted ceilings, built in shelving, full size washer & dryers hook-ups, individual storage units, carports, and large back patios and/or open yard space in the front and back of each unit. The community has a favorable unit mix of 1 three bedroom unit, 13 two bedroom units, and two studio units. The community has very attractive landscaping throughout the property providing residents with a park-like setting with grass, mature trees and bushes. The property is on an irrigated lot, providing a low-cost benefit to ownership. The property went through a major renovation in 2017 with $450K of capital improvements that upgraded the unit interiors while carefully making exterior improvements that kept the original charm of the brick buildings. Unit upgrades include new flooring consisting of modern gray vinyl, new drywall, baseboards, two-tone gray paint, modern cabinets, granite countertops, modern kitchen sinks and gooseneck faucets, new drains and supply lines, new black appliances including built in microwaves, modern light fixtures and ceiling fans, new vanities and sinks in bathrooms, toilets, sink and showers, and front and back doors. Exterior improvements include updated paint to the trim/shutters/doors, new irrigation/drip lines/sprinklers with new plants/flowers, a new block wall on the entire south side of the property, new block patios and large wood patio fences with individual gates providing privacy for the residents.
The Cove offers an investor a charming 16 unit single-story cottage style community consisting of majority 2 bedroom units that have been updated with modern interiors and offers residents a peaceful low density park-like setting to call home.
