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Multifamily Development Lot

Multifamily Development Lot

https://www.josephbernard.net/multifamily-development-lot
Address:
21435 & 21449 N 24th Ave, Phoenix, Arizona 85027
Price:
$800,000
Units:
0
Price per unit:
$0
Cap Rate:
N/A
Year Built:
N/A

Highlights

  • 2 adjacent parcels
  • Multifamily development opportunity
  • Zoning allows for 81 units
  • Potential for 93 units (Buyer to verify)
  • 4 stories/48 ft. height allowed
  • Property is located in an opportunity zone
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Multifamily Development Lot

Summary

Two adjacent parcels for a combined 1.79 acres of land in Phoenix, right off the I-17 and 101 State Route. Blocks away from employers Honeywell Aerospace, Discover Home Loans, among others, and within close proximity to USAA. Nearby schools include Barry Goldwater High School and Deer Valley Middle School. Also nearby are Happy Valley Towne Center shopping mall and The Shops at Noterra lifestyle center.

What is an Opportunity Zone?

Investors are given a temporary tax deferral for capital gains reinvested in an Opportunity Fund. The deferred gain must be recognized on the earlier of the date on which the opportunity zone investment is sold or by 12/31/2026. If the investment is held for 5 years, by 12/31/2026 tax on the deferred gain is reduced by 10%. If the Opportunity Fund investment is held for 10+ years, investors receive a permanent exclusion from taxable income of capital gains from the sale or exchange of an investment in a qualified opportunity zone fund on the gains accrued after an investment in an Opportunity Fund.

For more information, visit: https://www.phoenix.gov/econdev/Incentives

Highlights

  • 2 adjacent parcels
  • Multifamily development opportunity
  • Zoning allows for 81 units
  • Potential for 93 units (Buyer to verify)
  • 4 stories/48 ft. height allowed
  • Property is located in an opportunity zone

Multifamily Development Lot

N 24th Ave/W Lone Cactus Rd

Multifamily Development Lot

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Multifamily Development Lot

Document Title Document Type
Property Flyer Adobe PDF

Multifamily Development Lot

Joseph Bernard, LLC
5200 SW Macadam Avenue
Suite 300
Portland, Oregon 97239
503.546.9390 Main
866.546.9390 Toll Free
503.546.9395 Fax