2016 W Orangewood Avenue, Phoenix, AZ 85021

$4,550,000
Property Type: Multiple Dwellings Status: Active
Current Price: $4,550,000 Last Modified: 8/28/2025

Description

Centrally located East of the I-17 Freeway immediately north of Central Phoenix's largest major employment corridor is Macallister, a 24-unit apartment community, just north of the Glendale Avenue and 19th Avenue intersection, surrounded by the growing lifestyle opportunities of a gentrifying area and the natural beauty of the North Mountain Preserve.

Supplements: 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 ±1,200 businesses, featuring employers such as BlueCross BlueShield, Wells Fargo, Waste Management. Developed in 2018, Macallister is comprised of 12 studios (50%), 8 one-bedroom (33%), and 4 two-bedroom (17%) floorplans, offering an average of 700 square feet. All units feature attractive amenities including 9-foot ceilings, balconies/patios (select units), in-suite washer/dryers, stainless steel appliances, and granite countertops.

More Information MLS# 6911601

Contract Info

Ownership: Fee Simple Current Price: $4,550,000 List Price: $4,550,000 Status: Active List Date: 2025-08-27

Location, Tax & Legal

Assessor's Map #: 19 Assessor's Parcel #: 140 Add'l Parcels: No Tax Municipality: Phoenix Taxes: 24774 Legal: TERRA BELLA MCR 1022-12 LOT 1 EX S 3F PER RD 9/11 Marketing Name: Macallister House Number: 2016 Compass: W Street Name: Orangewood St Suffix: Avenue City/Town Code: Phoenix State/Province: AZ Zip Code: 85021 County Code: Maricopa Assessor Number: 157-19-140 Tax Year: 2025

General Property Description

# of Buildings: 2 Uncvrd Parking Spcs: 8 Lot Size Dimensions: 0.78 Total # of Units: 24 Year Built: 2018 Zoning: R-5

Project Type

13 - 24 Units: 1

Construction

Wood Frame: 1

Const - Finish

Painted: 1 Stucco: 1

Roofing

Tile: 1

Floors

Vinyl: 1 Carpet: 1

Sale Includes

Land & Building: 1

Income & Expenses

Annual Elec Exp: 29182 Annual Ins Exp: 8460 Annual Landscape Exp: 7200 Annual Legal & Acctg: 3957 Annual Maint Exp: 9600 Annual Mgmt Exp: 13486 Owner Association: No Annual Ownr Asoc Fee: 0 Annual Rplcmnt Rsrvs: 6000 Annual Other Expense: 21600 Operating Exp: 124259 Other Income: 26591 Vacancy Allowance: 0.06 Adjusted Gross Inc: 335560.26

Pmt & Rate Info

Cap Rate: 4.7 Equity: 4550000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0

Showing Notification Methods

Showing Service: Aligned Showings Text: 1

Lockbox Type

None: 1

Community Features

Pool: 1

Heating

Individual: 1

Cooling

Individual: 1

Exterior Amenities

Green Landscaping: 1 Desert Landscaping: 1

Tenant Pays

Electricity: 1

Appliances Included

Free-Standing Electric Oven: 1 Refrigerator: 1 Dishwasher: 1 Microwave: 1 Washer/Dryer: 1

Source of Fincl Data

Owner: 1

Water Source

City Franchise: 1

Sewer

Sewer - Public: 1

Parking Features

>1 Space Per Unit: 1

Electric

SRP: 1

Gas

SW Gas: 1

Owner Pays

Water: 1 Sewer: 1 Trash Collection: 1 Landscaping: 1

New Financing

Cash: 1 Conventional: 1 1031 Exchange: 1

Reports/Disclosures

None: 1

Environmental

None: 1

Efficiency Units

# Efficiency Units: 12 Avg Rent: 989 Avg SqFt: 560 # Baths: 12

1 Bedroom Units

# 1 Bedroom Units: 8 Avg Rent: 1196 Avg SqFt: 734 # Baths: 8

2 Bedroom Units

# 2 Bedroom Units: 4 Avg Rent: 1525 Avg SqFt: 7050 # Baths: 8

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Remarks Misc

Geo Lat: 33.546507 Geo Lon: -112.102594

Legal Info

Lot Number: 1

Income Expenses

Gross Annual Sch Inc: 330388 Net Operating Income: 213896

Property Features

Project Type: 13 - 24 Units Construction: Wood Frame Const - Finish: Painted; Stucco Roofing: Tile Floors: Vinyl; Carpet Sale Includes: Land & Building Community Features: Pool Exterior Amenities: Green Landscaping; Desert Landscaping Appliances Included: Free-Standing Electric Oven; Refrigerator; Dishwasher; Microwave; Washer/Dryer Heating: Individual Cooling: Individual Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: SW Gas Parking Features: >1 Space Per Unit Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity Source of Fincl Data: Owner Showing Notification Methods: Text Lockbox Type: None New Financing: Cash; Conventional; 1031 Exchange Environmental: None
Listing Office: Marcus & Millichap
IDX
Last Updated: August - 28 - 2025
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