Multifamily | 5.66% Pro Forma CAP Rate - 4229 North 17th St. Phoenix

Multifamily | 8 Units | Exclusive Investment Opportunity – 5.66% Pro Forma CAP Rate

ABI Multifamily’s Private Apartment Team is proud to present the exclusive opportunity to acquire 4229 North 17th Street, an impeccably renovated, boutique 8-unit garden-style apartment community located in the vibrant heart of Phoenix, Arizona.

Offered at $2,500,000, this asset delivers a compelling 5.66% pro forma CAP rate, combining stability, location, and upside potential in one of the city's most in-demand submarkets.

Unmatched Location, Unbeatable Access

Strategically positioned just south of the Camelback Corridor and west of the SR-51 freeway, this property offers unmatched access to Phoenix’s top employment hubs, upscale retail centers, and dining destinations. Within minutes, residents can reach:

• Whole Foods, Trader Joe’s, Camelback Colonnade, and Town & Country Shopping Center

• The Biltmore, Arcadia, and Uptown Phoenix

• Major employers including Phoenix Children’s Hospital

• Local parks, schools, and essential community services

Whether commuting or enjoying the local lifestyle, the location perfectly balances connectivity and neighborhood charm.

Fully Renovated + Modernized Units

Originally built in 1982 and extensively renovated in 2020, the property consists of eight (8) spacious 2-bedroom / 2-bathroom units (approx. 920 SF each), designed with modern features to attract quality tenants and minimize future capital expenses.

Each unit includes:

• Vaulted ceilings and open floor plans

• Private backyard spaces

• In-unit washer/dryers

• Individual storage closets

Interior upgrades feature:

• Contemporary cabinetry

• Stainless steel appliances

• Vinyl plank flooring

• Floating bathroom vanities

Exterior amenities include:

• Gated access for resident security

• Dog run and landscaped courtyard

• Community patio with grill and bar

Investor-Friendly Configuration

This condo-mapped and individually parceled community offers flexibility for future exit strategies, including potential unit sales or long-term hold scenarios. All units are individually metered for electricity, reducing operational costs and increasing NOI potential.

4229 North 17th Street is a rare, stabilized, turn-key investment in one of Phoenix’s most desirable core neighborhoods—perfect for investors seeking reliable returns and long-term value growth.