$6,900,000
Phoenix, AZ 85029
MLS# 6723250
1 / 25
Property Description
UNDER CONSTRUCTION - PROJECTED COMPLETION JANUARY 2026 Gated Townhome Complex, 12 4bd/3bth trilevel, 2215sf units. There are two buildings, each end unit benefits from additional windows and a larger balcony! Each unit is completed with the same modern and low maintenance finishes - 10' ceilings on main floor, white cabinetry, quartz countertops, 2 car tandem garage for each unit, in unit washer/dryer, stainless steel appliances! There will be a community pool in the sw corner of complex and each unit will have their own backyard with green space! There will be 13 additional parking spaces (outside of the garage space with 1 of them ada). 26,400 rentable area of property on nearly an acre!
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $6,900,000
List Price: $6,900,000
Status: Active
List Date: 2024-06-24
Location, Tax & Legal
Assessor's Map #: 63
Assessor's Parcel #: 720
Add'l Parcels: No
Tax Municipality: Phoenix
Taxes: 15897
Legal: LOT 3 LAKE BILTMORE VILLAGE NORTH MCR 059508
Marketing Name: Apex Townhomes
House Number: 11830
Compass: N
Street Name: 28th
St Suffix: Drive
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85029
County Code: Maricopa
Assessor Number: 149-63-720
Tax Year: 2024
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 13
Lot Size Dimensions: irregular
Total # of Units: 12
High School District: Glendale Union High School District
Year Built: 2024
Zoning: c1
Project Type
5 - 12 Units: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Brick Veneer: 1
Roofing
Foam: 1
Floors
Vinyl: 1
Sale Includes
Land & Building: 1
Income & Expenses
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 15897
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 465120
Pmt & Rate Info
Cap Rate: 5.65
Equity: 6900000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: Aligned Showings
Lockbox Type
Other: 1
Community Features
Pool: 1
Heating
Ceiling: 1
Electric: 1
Cooling
Ceiling Fan(s): 1
Electric: 1
Exterior Amenities
Green Landscaping: 1
Fenced: 1
Cable TV Available: 1
TV Antenna: 1
Patio/Balcony: 1
Security Light(s): 1
Other (See Remarks): 1
Interior Features
Unfurnished: 1
Fire Sprinklers: 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Microwave: 1
Free-Standing Range: 1
W/D Hookup: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Projected Proforma: 1
Water Source
City Franchise: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
Garage: 1
Attached: 1
Garage Door Opener: 1
Electric
APS: 1
Master Meter: 1
Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Electric: 1
Trash Collection: 1
Pool Maintenance: 1
New Financing
Cash: 1
Conventional: 1
Other (See Remarks): 1
Reports/Disclosures
None: 1
Environmental
None: 1
Contact Info
List Agent Home Phn: 480-255-7327
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
# 4 Bedroom Units: 12
Avg Rent: 3400
Avg SqFt: 2100
# Baths: 3
Remarks Misc
Cross Street: Cactus Rd and 28th Drive
Directions: South on 28th Drive, property is on the right (west side of rd).
Geo Lat: 33.594266
Geo Lon: -112.120625
Legal Info
Lot Number: 3
Income Expenses
Gross Annual Sch Inc: 489600
Net Operating Income: 389515
Property Features
Project Type: 5 - 12 Units
Construction: Wood Frame
Const - Finish: Painted; Stucco; Brick Veneer
Roofing: Foam
Floors: Vinyl
Sale Includes: Land & Building
Community Features: Pool
Exterior Amenities: Green Landscaping; Fenced; Cable TV Available; TV Antenna; Patio/Balcony; Security Light(s); Other (See Remarks)
Interior Features: Unfurnished; Fire Sprinklers
Appliances Included: Free-Standing Range; Dishwasher; Disposal; Microwave; W/D Hookup
Heating: Ceiling
Cooling: Ceiling Fan(s); Electric
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public
Electric: APS; Master Meter; Individual Meter
Gas: None
Parking Features: Garage; Attached; Garage Door Opener
Road Surface Type: Asphalt
Owner Pays: Water; Electric; Trash Collection; Pool Maintenance
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Projected Proforma
Lockbox Type: Other
New Financing: Cash; Conventional; Other (See Remarks)
Environmental: None
Supplements
Most recent appraisal for project finished and stabilized was $7,700,000 in late 2023.
Owner would consider selling in current condition (adjusting for price accordingly) so buyer can have opportunity to finish project to their own specs.
Listing Office: Prestige Realty
Last Updated: October - 30 - 2025
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