550 W MARYLAND Avenue, Phoenix, AZ 85013 (MLS# 5252700)

Project Type: 25 - 50 Units

Construction: Wood Frame

Const - Finish: Painted; Stucco

Roofing: Built-Up; Tile

Floors: Ceramic Tile

Sale Includes: Land & Building

Community Features: Pool; Manager Res/Office; Clubhouse; Exercise Room; Game/Rec Room; Play Area

Exterior Amenities: Green Landscaping; Fenced; Patio/Balcony; Separate Storage; Security Light(s); Guard Gate

Interior Features: Unfurnished

Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Microwave; Washer/Dryer

Heating: Individual

Cooling: Individual

Water Source: City Franchise

Sewer: Sewer - Public

Electric: APS

Gas: None

Parking Features: Garage; On Street

Road Surface Type: Asphalt

Owner Pays: Water

Tenant Pays: Electricity

Source of Fincl Data: Owner

Existing 1st Loan: Conventional

Existing 1st Loan Type: Not Applicable

Existing 1st Loan Terms: Not Applicable

Existing 2nd Loan: Treat as Free&Clear

Existing 2nd Loan Type: Not Applicable

Existing 2nd Loan Terms: Not Applicable

Existing 3rd Loan: Treat as Free&Clear

Existing 3rd Loan Type: Not Applicable

Existing 3rd Loan Terms: Not Applicable

Existing Othr Ln Trm: Not Applicable

New Financing: Conventional

Environmental: None

The community consists of 36 units with two oversized floor plans that feature two bedroom, two and one half bathroom units at 1,356 SF and two-bedroom, two bathroom loft units at 1,445 SF. All units at Valencia Townhomes include a detached garage, 18" porcelain tile flooring, new contemporary cabinetry with premium hardware, Gourmet kitchens with granite Countertops and backsplashes, full-size stainless steel appliances including built-in microwaves, porcelain tile shower surrounds, premium ceiling fans, low-flow toilets, full-sized washers and dryers, walk-in closets, private balconies, custom-made iron and glass front doors and wrought iron fenced front patios. The property is situated on just under two and a half acres and has attractive, professionally designed landscaping with mature shade trees and lush turf. This low density townhome community features a resort-style pool with outdoor kitchen and lounge area, a fitness center, guest parking, and lighted walkways and common areas. Valencia Townhomes offers an investor the rare opportunity to acquire a pride of ownership townhome community located in a dynamic north/central Phoenix location with individual resale potential. Over the last quarter, the north/central Phoenix submarket average occupancy increased by 76 basis points, more than two times that of the metropolitan Phoenix average. Furthermore, the submarket average rents increased by more than 5% in 2014. With the strong submarket fundamentals coupled with the Phoenix market's continual improvement and recovery, Valencia Townhomes is well positioned to achieve continual revenue increase.