Jeffery Pedersen

Located just a five-minute drive from downtown Mesa and other local attractions, this garden-style apartment community offers low upkeep costs and a desirable residential living experience.​ Elevated construction costs for multifamily development in the Phoenix metro area make below-market rent and low-density small apartment living scarce.​ For tenants seeking a neighborhood and residential atmosphere, 325 S Pioneer delivers.​     With ample tree shading and a quiet neighborhood setting, the property offers pleasant, single-family style living with competitive, affordable rents.​ The 2-bedroom, 1-bathroom unit mix is highly sought after for its additional space and appeal to a broad renter demographic.​ This multifamily property is an exceptional investment opportunity in a growing and dynamic area.​

Cinnabar Ranch Apartments at 1329 E Cinnabar Avenue is a multifamily community featuring five apartment units in Phoenix, Arizona. This multifamily offering in Sunnyslope is ideal for those looking to unlock rental income potential in a gentrifying area of Phoenix Metro. While the well-maintained units have been renovated in 2015-16, the apartments still offer opportunities for value-add improvements. Each unit boasts added insulation, double pane windows, and interior uplifts with ample covered parking provided by an on-site solar carport. Located in a convenient area of North Phoenix withing a short commute to large employers, shopping, and dining, this property has significant long-term potential. With continued property management, Cinnabar Ranch Apartments can become a standout addition to your real estate investment portfolio. Nestled within the North Mountain neighborhood, it is a quiet suburban locale about 12 miles north of Downtown Phoenix. This pleasant neighborhood rests alongside North Mountain in the Phoenix Mountain Preserve and Cave Creek Park area, providing access to miles of of nearby hiking and walking. Tenants of this property enjoy peace and privacy due to the property's surrounding walls and private driveway to access the apartment units. The property has a few Section 8 tenants allowing for future ownership to continue offering affordable housing a much needed population of the renter demographic of Phoenix.Additionally, minor value added improvements and further rental rate increases will offer robust cashflow to secure a solid investment in the Phoenix's 2024 multifamily market. The owner is selling for 1031 exchange purposes and to support other projects that the owner is currently pursuing where additional liquidity would be helpful, thus no owner-carryback is available.For more details, please contact Jeffery Pedersen at West USA Realty. (jpedersen@westusa.com or 602-541-3756)Thank you for your interest.

Jeffery Pedersen

About Jeffery Pedersen

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Recent property sales & transaction history

2 properties

Phoenix

Family Home

$950,000

4,400 ft²

Properties for sale by listing agent Jeffery Pedersen

$1,086,900

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Jeffery Pedersen

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