TITLE:
HAVE: CIELO DUPLEX APARTMENT HOMES / SHOVEL-READY 30 UNIT APARTMENT PROJECT IN AZ
CONTROL:
Exclusive
VALUE:
$1,350,000
LOAN:
$298,000
EQUITY:
$1,052,000
TYPE:
Development
HAVE:
30-unit duplex apartment homes rental project, shovel-ready, fully entitled in Apache Juncture, near Phoenix, AZ. The project is located on a prime land, with full plans, and is GC-ready to build 15 duplexes. Each apartment will have 2BR, 2BA, 816 SF.
ADDRESS:
2332 W. Broadway Avenue, Apache Juncture, Arizona
BENEFITS TO NEW OWNER:
Shovel-ready, fully entitled project in the growing area of Apache Juncture, near Phoenix. 15 duplex buildings, GC will guarantee completion with its balance sheet.
Cielo Duplex Apartments
GROSS SCHEDULED INCOME:
$679,050 Projected
VACANCY LOSS:
$40,743
GROSS EFFECTIVE INCOME:
$638,307
EXPENSES:
$170,974
NOI:
$467,333
DEBT SERVICE:
$0
CASH FLOW:
$467,333
CAP RATE:
34.62%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$298,000
$5,000
12%
09/01/2026
Yes
BENEFITS SOUGHT:
Sell or trade the project for land and/or smaller projects in San Diego, CA, other areas in Southern CA and/or Phoenix, AZ.
CAN ADD:
Newly completed 34 unit duplex homes rental project with 17 duplexes (22 units-2BR/2BA, 12 units-3BR/2BA) in Glendale, AZ. Valued at: $14.1M, debt $11.8M. New development, construction, sales and marketing advisory services.
REMARKS:
Turn-key new development package, truly "shovel-ready," all plans, GC, and non-seller construction financing available. Attractive duplex rental homes product, great location in a growing community of Apache Juncture, 30 miles east of Phoenix, AZ.
COUNSELOR:
Robert W. Dudek, MSEL
The Blu Summit Real Estate Group / KW Commercial
12750 High Bluff Dr. Ste. 300
San Diego, California, 92130
