Venture on 12th Place
Stabilization
Venture on 12th place is a 30-unit residential apartment building at 3432 N.12th Place, Phoenix, Arizona 85014. The Property consists of six buildings with a shared courtyard and was built in 1971. The 30 units include 16 two-bedroom one-bathroom units, two one-bedroom one-bathroom units, four two-bedroom 1.5-bathroom units, and 8 two-bedroom one-bathroom townhome units averaging 807 square feet per unit.
Renovations for the interior of each unit include the replacement of fixtures, hardware, flooring, updated painting, and appliances. On the exterior, we transformed the look of the property by installing new doors, painting the exterior, and updating the landscaping.
It is anticipated that after the property has been upgraded and stabilized, it will either be sold for $10,350,000 ($345,000 per unit) or refinanced after a three-year period.
