Multifamily Income Apartments in Arcadia Neighborhood
South Arcadia has an area with a cluster of small multifamily buildings; triplexes, four-plexes and unique duplexes make up a large part of a neighborhood North of Indian School and East of 32nd St.
This is an ideal location for a multifamily investment with great access to several major freeways, its right in the middle between downtown Phoenix and downtown Scottsdale.
The East side of Phoenix has rapidly developed and become more in demand. Hip restaurants, shopping, clubs all make this part of Phoenix the place to be. Much of the older home stock is being remodeled while others are torn down for new homes, condo developments or for upscale contemporary town-homes.
In this cluster of multifamily homes you can find a mix of duplexes, triplexes and 4-plexes. Many are owner occupied. In fact this would be one of the best places for savvy first time home buyers or for a vacation home.
Unlike other parts of the city, most of these apartments are well taken care of, clean and very attractive. Some are very good examples of mid century modern architecture.
Because these multifamily properties are in such a good location and most are in good shape, they commend a higher price then other parts of the valley. That is the trade off in this case. You give up some return but gain in vacancy stability and the possibility of appreciation or even an opportunity for re-positioning.
Some recent sales include.
Duplex = all 2br/2ba $560,000
Duplex = 3br/2ba 2br/1ba $380,000
Triplex = all 2br/1ba $345,000
Fourplex = all 2br/1ba $450,000
Interested in investing in apartment buildings or even buying one to live in? Take a look at these Phoenix apartments for sale.
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