Properties

Phoenix, AZ 85021 7537 N 21st Avenue

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Presented By: Marcus & Millichap; 602-687-6700
  • MLS# 6836611
  • 03/17/2025
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Home Details

Centrally located East of the I-17 Freeway immediately north of Central Phoenix's largest major employment corridor is Rose Vista, a, 11-unit apartment community, just south of the 19th Avenue and Northern Avenue intersection in a desirable residential neighborhood, surrounded by the growing lifestyle opportunities of a gentrifying area and the natural beauty of the North Mountain Preserve. The adjacent city-endorsed North Mountain Redevelopment Area, a defined area within the Phoenix MSA currently undergoing transformative gentrification efforts, provides assistance to residents and business owners in taking advantage of funding mechanisms designed to improve the region through advancement of underutilized properties, expanded infrastructure, and the creation of additional employment opportunities with current capital investment of $179M, and lead by a revitalization of the iconic Metrocenter Mall. Ample employment opportunities are found through the nearby I-17 Employment Corridor, boasting more than 43,000 employees across ยฑ1,200 businesses, featuring employers such as BlueCross BlueShield, Wells Fargo, Waste Management. Completed in 1961 and 2011 , Rose Vista is comprised of 4 one-bedroom (36%) and 7 two-bedroom (64%) floorplans, offering an average of ยฑ859 square feet. All units include direct access car-ports, private back patios and in-suite (2011 Built) or back-patio washer/ dryers. Future ownership will have the opportunity to renovate the 9 classic units and capitalize on the rent premium based on the current market and achieved rents by similar properties in the immediate surrounding area.
Presented By: Marcus & Millichap; 602-687-6700

Interior Features for 7537 N 21st Avenue

Bathrooms

Total Baths

Other Interior Features

Air Conditioning Y/NYes
FlooringCarpet, Ceramic Tile, Vinyl
Heating Y/NYes

General for 7537 N 21st Avenue

Additional Parcels Y/NNo
Attached Garage No
Cap Rate6.86
Carport Y/NNo
CityPhoenix
Community FeaturesNo Pool
Construction MaterialsWood Frame, Painted, Stucco, Block
CoolingCeiling Fan(s), Individual
CountyMaricopa
DisclosuresNone
ElectricSRP, Individual Meter
Electric Expense12158.0
Fuel Expense0.0
Garage Y/NNo
Gross Income200394.84
HeatingIndividual
Insurance Expense6600.0
Lease Considered Y/NNo
Lease Renewal Y/NNo
MaintenanceExpense6600.0
MobileHomeRemainsYNNo
Net Operating Income142704.0
New ConstructionNo
New Financing: CashTrue
New Financing: ConventionalTrue
Number Of Units Total11
Open Parking Spaces0.0
Operating Expense58375.0
OwnerPaysTrash Collection, Water, Sewer, Landscaping
OwnershipFee Simple
OwnershipFee Simple
Property TypeMultiple Dwellings
Rent Control Y/NNo
RoofFoam
Senior CommunityN
SewerPublic Sewer
Standard StatusActive
StatusActive
Tax Annual Amount9114.0
Tax Lot23
Tax Year2025
Year Built1961
ZoningR-3

Exterior for 7537 N 21st Avenue

Covered Spaces15.0
Crops Included Y/NNo
Irrigation Water Rights Y/NNo
Lot Dimensions0.87
Number of Buildings6
Parking Features>1 Space Per Unit, Carport
Road Surface TypeAsphalt
SpaNo
Total Parking15.0
Water SourceCity Franchise

Additional Details

Price History

Connect Realty

Price $1,975,000
MLS#6836611
List Date 03/17/2025
Property Type Multi-Family
Phone 888.795.6274
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