HILL APARTMENTS @ HISTORIC AVONDALE

115 West Hill Drive, Avondale, Arizona 85323

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HILL APARTMENTS @ HISTORIC AVONDALE | PHOENIX MULTIFAMILY FOR SALE

Price $935,000
Number of Units 14
Building Size 12,629 SF
Property Type Multifamily
Property Sub-type Garden/Low-Rise
Property Use Type Investment
Cap Rate 6.75%
Gross Rent Multiplier 9.5
Year Built 1980
Lot Size 0.9 Acres / 39,200 SF
APN 500-16-151-D
Parking Spots 24 Uncovered
Neighborhoods Avondale, I-10 Corridor, Avondale Art’s District, Historic Avondale, Southwest Valley
Listing Status SOLD (COE 2/27/18)

INVESTMENT DRIVERS

SINGLE-STORY APARTMENT LIVING IN HISTORIC AVONDALE

Hill Apartments is a 14-unit garden-style apartment home community located in the Historic Avondale Art’s District in Avondale, Arizona. Built in 1980, and refreshed in 2017, Hill Apartments is a rare single-story multifamily community located in Downtown Avondale near shopping, culture, restaurants and transportation, featuring eight (8) two-bedroom and one-bathroom apartment homes of approximately 820 square feet and six (6) three-bedroom and one-bathroom apartment homes of approximately 962 square feet. Each of the 14 apartment homes includes a private rear patio. Hill Apartments is located near shopping, dining and entertainment in the Historic Avondale Art’s District and just minutes from all major West Valley transportation corridors of I-10, Loop 101 and the newly opened Loop 303.

DOWNTOWN AVONDALE LOCATION INSIDE HISTORIC AVONDALE’S ART’S DISTRICT

Hill Apartments enjoys a downtown Avondale location inside the Historic Avondale Art’s District, within close proximity to cultural venues, restaurants, art galleries and city parks. The property is situated south of Van Buren Street and north of Western Avenue, east of Litchfield Road and west of Central Avenue, along Hill Drive, approximately 4.5 miles from the Interstate 10 (Papago Freeway), which connects to Loop 101 (Agua Fria Freeway), Interstate 17 (Black Canyon Freeway), State Route 51 (Piestewa Freeway), Loop 202 (Red Mountain Freeway), and Loop 303 (Bob Stump Memorial Parkway), providing easy access to Downtown Phoenix, Sky Harbor International Airport, Glendale, Goodyear, Tempe, Scottsdale, the southeast and southwest Valleys.

HIGHLIGHTS

Located In Historic Avondale Art’s District
Pride of Ownership Community
High Demand Rental Market with Strong Fundamentals
Proximity to Cultural Venues, Restaurants, Art Galleries, City Parks, Employment Drivers and Interstate 10 (I-10)
Low Maintenance Asset
Block & Wood Frame Construction