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    813 E Marlette Avenue

    Phoenix, AZ 85014
    • $3,750,000
    • STATUS: Active
    • ON SITE: 34 days
    • MLS #: 6170432
    UPDATED: 34 min ago
    $3,750,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Type:
    Multi-Family
    Built:
    1962
    County:
    Area:

    School Ratings & Info

    Description

    Venture on Marlette consists of 14 units, (13) of which are two-bed/two-bath units along with (1) one-bed/one-bath unit. The propertyhas been completely remodeled from top-to-bottom with nothing leftuntouched. Full interior renovations have been done with popular,cutting-edge finishes. All units are spacious for this era of buildingand each include an in-suite washer and dryer. Several of the unitshave large outdoor backyards. The property has a new roof, windows,doors, and new paint inside and out. Full exterior upgrades includeprofessionally installed landscaping and more. The property surroundsan inviting courtyard with beautiful outdoor amenity space. Each unitis individually metered for electricity. Additionally, the property wentthrough lease-up while under consso many rents are below market and could be raised as leases expire. Not to mention, with housing prices skyrocketing, rent growth should continue increasing while those who cannot afford to purchase look to rent. There are not a lot of properties that come available that are this attractive and well located. This is a phenomenal bite-sized opportunity in an A location that should continue to improve as things continue to happen in the heart of Uptown Phoenix. Venture on Marlette is the latest offering from the amazing Neighborhood Ventures team! The property sits directly in the middle of Uptown Phoenix, just off of the famed 7th Street Corridor and Restaurant Row. It is 3/4 of a mile to the original The Yard and Culinary Dropout concept that was the impetus for the massive 7th Street and Restaurant Row growth. The property sits on a quiet street, minutes away from the Crown Plaza development with Wildflower and Rito's Mexican Food. The Womack, an amazing tribute to the iconic Phoenix bar, Chez Nous, is also a short bike ride/walk away, as well as MORA Italian, Cold Beer & Cheeseburgers, and Bevvy, just to name a few. This property really sits in the heart of it all. The location is as popular as it gets, and allows residents to enjoy, with ease, so much of what Central Phoenix has to offer. With many dining, shopping (Uptown Plaza is just a bike ride away), and entertainment options, as well as multiple freeway access points within minutes, Venture on Marlette is an extremely desirable property for residents.

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    © 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than Executive Realty Advisors | Keller Williams Realty Phoenix. Data last updated 2021-01-15T19:12:44.407.
    www.yournextphoenixhome.com/homes/112555883
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    813 E Marlette Avenue Phoenix, AZ 85014

    • Price: $3,750,000
    • Status: Active
    • Updated: 34 min ago
    • MLS #: 6170432
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1962
    Built
    Neighborhood:
    Orange Heights Lots 44, 45 & Tr A
    County:
    Maricopa
    Area:
    Phoenix
    School District:
    038 - Madison Elementary District
    Property Description
    Venture on Marlette consists of 14 units, (13) of which are two-bed/two-bath units along with (1) one-bed/one-bath unit. The propertyhas been completely remodeled from top-to-bottom with nothing leftuntouched. Full interior renovations have been done with popular,cutting-edge finishes. All units are spacious for this era of buildingand each include an in-suite washer and dryer. Several of the unitshave large outdoor backyards. The property has a new roof, windows,doors, and new paint inside and out. Full exterior upgrades includeprofessionally installed landscaping and more. The property surroundsan inviting courtyard with beautiful outdoor amenity space. Each unitis individually metered for electricity. Additionally, the property wentthrough lease-up while under consso many rents are below market and could be raised as leases expire. Not to mention, with housing prices skyrocketing, rent growth should continue increasing while those who cannot afford to purchase look to rent. There are not a lot of properties that come available that are this attractive and well located. This is a phenomenal bite-sized opportunity in an A location that should continue to improve as things continue to happen in the heart of Uptown Phoenix. Venture on Marlette is the latest offering from the amazing Neighborhood Ventures team! The property sits directly in the middle of Uptown Phoenix, just off of the famed 7th Street Corridor and Restaurant Row. It is 3/4 of a mile to the original The Yard and Culinary Dropout concept that was the impetus for the massive 7th Street and Restaurant Row growth. The property sits on a quiet street, minutes away from the Crown Plaza development with Wildflower and Rito's Mexican Food. The Womack, an amazing tribute to the iconic Phoenix bar, Chez Nous, is also a short bike ride/walk away, as well as MORA Italian, Cold Beer & Cheeseburgers, and Bevvy, just to name a few. This property really sits in the heart of it all. The location is as popular as it gets, and allows residents to enjoy, with ease, so much of what Central Phoenix has to offer. With many dining, shopping (Uptown Plaza is just a bike ride away), and entertainment options, as well as multiple freeway access points within minutes, Venture on Marlette is an extremely desirable property for residents.
    Exterior Features

    Construction BlockOther (See Remarks) Construction Finish Other (See Remarks)Painted Covered Parking Spaces 0.00 Lot Size Dimensions 146X122 Parking Other (See Remarks) Roads Asphalt Roofing Other (See Remarks)

    Interior Features

    1 Bedroom Unit Avg Sq Ft 550 1 Bedroom Unit Baths 1 2 Bedroom Unit Avg Sq Ft 929 2 Bedroom Units Baths 2 3 Bedroom Unit Avg Sq Ft 0 3 Bedroom Unit Baths 0 4 Bedroom Unit Avg Sq Ft 0 4 Bedroom Unit Baths 0 Appliances Included Other (See Remarks) Cooling Electric Refrigeratd Efficiency Unit Avg Sq Ft 0 Efficiency Unit Baths 0 Floors Other (See Remarks) Heating Electric

    Property Features

    1 Bedroom Unit Avg Rent 1250.00 1 Bedroom Units 1 2 Bedroom Unit Avg Rent 1340.00 2 Bedroom Units 13 3 Bedroom Unit Avg Rent 0.00 3 Bedroom Units 0 4 Bedroom Unit Avg Rent 0.00 4 Bedroom Units 0 Adjusted Gross Inc 244185.60 Annual Ownr Asoc Fee 0.00 Community Amenities Other (See Remarks) Cross Street 7th Street & Bethany Home Rd Efficiency Unit Avg Rent 0.00 Efficiency Units 0 Electric Individual Meter Gas Other (See Remarks) Gross Annual Sch Inc 245700.00 Hoa YN No Net Operating Income 192104.00 New Financing 1031 ExchangeConventional Operating Exp 8534.00 Other Income 8660.00 Owner Pays LandscapingSewerTrash CollectionWater Project Type 13 - 24 Units Sale Includes Land & Building Sewer Sewer - Public Source Of Financial Data Projected Proforma Special Owner/Agent Tax Municipality Phoenix Taxes 8534.00 Tenant Pays Electric Vacancy Allowance 0.04 Water Master MeterOther Zoning R4

    Listing courtesy of Abi Multifamily.


    © 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than Executive Realty Advisors | Keller Williams Realty Phoenix. Data last updated 2021-01-15T19:12:44.407.
     
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    Mesa AZ, 85206