$3,895,000
Phoenix, AZ 85021
MLS# 7004263
1 / 15
Property Description
The Mojave is a 27-unit, garden-style multifamily community located in Phoenix, AZ. Originally constructed in 1986 and extensively renovated in 2022, current and previous ownership has invested over $680,000 in capex into the property including a full interior renovation package on all 27 units (all with washer/dryer), new roof, asphalt replacement, upgraded landscaping, exterior painting and fencing, more. Even with significant capital improvements made over the past 5 years, new ownership can capture immediate upside by replacing the grass area with artificial turf, which will generate an estimated $5,000 to $10,000 in annual expense savings. This is a compelling opportunity for investors seeing a true turnkey, cash flowing asset with additional upside potential.
Details
Maps
Contract Info
Current Price: $3,895,000
List Price: $3,895,000
Status: Active
List Date: 2026-03-26
Ownership: Fee Simple
Location Tax Legal
House Number: 2020
Compass: W
Street Name: ORANGEWOOD
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85021
Zip4: 7870
County Code: Maricopa
Subdivision: TERRA BELLA
Assessor Number: 157-19-141
Tax Year: 2025
General Property Description
Lot Size Dimensions: 12,458
Year Built: 1986
Uncvrd Parking Spcs: 27
Total # of Units: 27
# of Buildings: 1
Zoning: R-4
High School District: Glendale Union High School District
Remarks Misc
Geo Lat: 33.546509
Geo Lon: -112.102885
Legal Info
Township: 2N
Range: 2E
Section: 1
Lot Number: 2
Income Expenses
Gross Annual Sch Inc: 312360
Net Operating Income: 233612
Showing Notification Methods
Showing Service: No Showing Service Used
Efficiency Units
# Efficiency Units: 24
Avg Rent: 895
Avg SqFt: 407
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 2
Avg Rent: 1095
Avg SqFt: 750
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 1395
Avg SqFt: 1200
# Baths: 15
Property Features
Project Type: 25 - 50 Units
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Composition
Floors: Vinyl
Sale Includes: Land & Building
Community Features: Pool
Exterior Amenities: Landscape Water System; Fenced; Separate Storage; Security Light(s)
Appliances Included: Built-In Range; Refrigerator; Disposal; Microwave; Washer/Dryer
Heating: Individual
Cooling: Individual
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking Features: 1 Space/Unit; Paved
Road Access Type: City Street
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity
Source of Fincl Data: Owner; Projected Proforma
Showing Notification Methods: Text; Phone Call
Lockbox Type: See Private Remarks
Existing 1st Loan: Other (See Rmks)
Existing 1st Loan Type: Fixed
Existing 1st Loan Terms: Assume - Qualify
New Financing: Cash; Conventional; 1031 Exchange
Environmental: None
Listing Office: Matthews Real Estate Investment Services
Last Updated: March - 26 - 2026
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