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1305 North Central Avenue
Avondale, AZ 85323
Asking Price
$6.25M
Asset Type
Apartment Building Multifamily
Class
Class B
What's Special
A 10.5 ACRE DEVELOPMENT OPPORTUNITY <p>Crystal Cove is a rare, fully entitled 10.59-gross-acre (9.53 net) development site positioned for immediate advancement into a 260-unit, Class A/B garden-style multifamily community. The project is zoned for high-density residential (PAD #PL-00-027) with site-plan and building entitlements in place. Detailed Design Development (DD) plans, complete with full architectural, structural, MEP, and site engineering, are available and can be delivered shovel-ready at closing, enabling the buyer to
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NOI
$80,000
Cap Rate
1.28%
DSCR
0.22
Underwater
Cash-on-Cash
-15.52%
Monthly Payment
$30,921.59
Annual Cash Flow
$-291,059.079