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- LoopNet Team
NW Van Buren St & Sarival Ave
Goodyear, AZ 85338
Canyon Trails Multifamily Corner · Land For Sale
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12.17 AC
Investment Highlights
- Currently, the only parcel with multi-family zoning available for sale in the market.
- Strategic location in a quality submarket that presents substantial daytime employment.
- Written offers are requested on/before the deadline of February 24, 2021.
- Directly off the I-10 and Loop 303 in the West Valley of Phoenix, providing residents with easy access to the city, amenities, and highways.
- Over the past 12 months, rents in this submarket have climbed 7.9%, which is well above the market average.
Property Facts
Description
The property is unpriced and written offers are requested on/before the deadline of February 24, 2021. The 12.17-acre parcel at the intersection of NW Van Buren St and Sarival Ave is a one-of-a-kind opportunity for investors looking to develop a multi-family complex in the West Valley of Phoenix, Arizona. This unique site is currently the only parcel with multi-family zoning available for sale in the market. Substantial third-party reports have been completed, including survey, soils, traffic, utilities, and off-site requirements. Rezoning of this site was recently completed to allow multi-family (MF-24 with PAD overlay), and an apartment development of 288 units has been preliminarily planned. The property benefits from excellent freeway access and is minutes from I-10 and the 303 Loop. Plus, the Phoenix Goodyear Airport is under a five-mile drive. An Opportunity Zone proximate to the property guarantees future growth in the area. The West Valley of Phoenix has been experiencing substantial growth and is home to data and distribution centers, creating a large employment pool. A steadily increasing population of over 387,500 people resides within a 10-mile radius of the property, and the average household income in a two-mile radius exceeds $106,000, providing a robust renter base. Over the past 12 months, rents have climbed 7.9%, which is well above the market average.
Property Taxes
| Parcel Number | 500-05-014L | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,718,901 |
Property Taxes
