Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$1,975,000
Last Modified:
6/23/2025
Search
7537 N 21st Avenue, Phoenix, AZ 85021
$1,975,000
Description
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,
Supplements: 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. Completed in 1961 and 2011 , Rose Vista is comprised of 4 one-bedroom (36%) and 7 two-bedroom (64%) floorplans, offering an average of ±859 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.
More Information MLS# 6836611
Contract Info
Ownership: Fee Simple
Current Price: $1,975,000
List Price: $1,975,000
Status: Active
List Date: 2025-03-17
Location, Tax & Legal
Assessor's Map #: 19
Assessor's Parcel #: 9
Assessor Parcel Ltr: J
Add'l Parcels: No
Tax Municipality: Phoenix
Taxes: 9114
Legal: VISTA INCOME ESTATES 1 LT 23 S 150ft P/F 19-1005424
Marketing Name: Rose Vista
House Number: 7537
Compass: N
Street Name: 21st
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85021
County Code: Maricopa
Assessor Number: 157-19-009-J
Tax Year: 2025
General Property Description
# of Buildings: 6
Uncvrd Parking Spcs: 0
Lot Size Dimensions: 0.87
Total # of Units: 11
Year Built: 1961
Zoning: R-3
Project Type
5 - 12 Units: 1
Construction
Block: 1
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Foam: 1
Floors
Vinyl: 1
Ceramic Tile: 1
Carpet: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 12158
Annual Gas Exp: 0
Annual Ins Exp: 6600
Annual Land Lse Exp: 0
Annual Landscape Exp: 5535
Annual Legal & Acctg: 3300
Annual Maint Exp: 6600
Annual Mgmt Exp: 8043
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual Rplcmnt Rsrvs: 2750
Annual Other Expense: 4275
Operating Exp: 58375
Other Income: 11412
Vacancy Allowance: 0.06
Adjusted Gross Inc: 200394.84
Pmt & Rate Info
Cap Rate: 6.86
Equity: 2080000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Showing Service: Aligned Showings
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Individual: 1
Cooling
Ceiling Fan(s): 1
Individual: 1
Exterior Amenities
Desert Landscaping: 1
Tenant Pays
Electricity: 1
Appliances Included
Dishwasher: 1
Free-Standing Electric Oven: 1
Refrigerator: 1
Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
>1 Space Per Unit: 1
Electric
SRP: 1
Individual Meter: 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
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 4
Avg Rent: 0
Avg SqFt: 763
# Baths: 4
2 Bedroom Units
# 2 Bedroom Units: 7
Avg Rent: 0
Avg SqFt: 914
# Baths: 8
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Remarks Misc
Geo Lat: 33.547264
Geo Lon: -112.103459
Legal Info
Lot Number: 23
Income Expenses
Gross Annual Sch Inc: 201774
Net Operating Income: 142704
Property Features
Project Type: 5 - 12 Units
Construction: Block; Wood Frame
Const - Finish: Painted; Stucco
Roofing: Foam
Floors: Vinyl; Ceramic Tile; Carpet
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Desert Landscaping
Appliances Included: Free-Standing Electric Oven; Refrigerator; Dishwasher; Washer/Dryer
Heating: Individual
Cooling: Ceiling Fan(s); Individual
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP; Individual Meter
Gas: SW Gas
Parking Features: Carport; >1 Space Per Unit
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity
Source of Fincl Data: Owner
Lockbox Type: None
New Financing: Cash; Conventional; 1031 Exchange
Environmental: None
Listing Office:
Marcus & Millichap
Last Updated: June - 23 - 2025
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