2020 W ORANGEWOOD Avenue, Phoenix, AZ 85021
$3,895,000
Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$3,895,000
Last Modified:
3/26/2026
Overview
Description
The Mojave is a 27-unit, garden-style multifamily community located in Phoenix, AZ. Originally constructed in 1986 and extensively renovated in 2022, current and previous ownership has invested over $680,000 in capex into the property including a full interior renovation package on all 27 units (all with washer/dryer), new roof, asphalt replacement, upgraded landscaping, exterior painting and fencing, more. Even with significant capital improvements made over the past 5 years, new ownership can capture immediate upside by replacing the grass area with artificial turf, which will generate an estimated $5,000 to $10,000 in annual expense savings. This is a compelling opportunity for investors seeing a true turnkey, cash flowing asset with additional upside potential.
Listing Details MLS# 7004263
Location, Tax & Legal
- House Number
- 2020
- Compass
- W
- Street Name
- ORANGEWOOD
- St Suffix
- Avenue
- City/Town Code
- Phoenix
- State/Province
- AZ
- Zip Code
- 85021
- Zip4
- 7870
- County Code
- Maricopa
- Subdivision
- TERRA BELLA
- Assessor Number
- 157-19-141
- Tax Year
- 2025
- Assessor's Map #
- 19
- Legal Description (Abbrev)
- LOT 2 TERRA BELLA MCR 102212
- Assessor's Parcel #
- 141
- Add'l Parcels
- No
- Tax Municipality
- Phoenix
- Census Tract
- 106002
- Taxes
- 5371
- Legal
- LOT 2 TERRA BELLA MCR 102212
- Marketing Name
- Mojave
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- 12,458
- Year Built
- 1986
- Uncvrd Parking Spcs
- 27
- Total # of Units
- 27
- # of Buildings
- Yes
- Zoning
- R-4
- High School District
- Glendale Union High School District
Legal Info
- Township
- 2N
- Range
- 2E
- Section
- Yes
- Lot Number
- 2
Income Expenses
- Gross Annual Sch Inc
- 312360
- Net Operating Income
- 233612
More Information
Showing Notification Methods
- Showing Service
- No Showing Service Used
- Text
- Yes
- Phone Call
- Yes
Efficiency Units
- # Efficiency Units
- 24
- Avg Rent
- 895
- Avg SqFt
- 407
- # Baths
- Yes
1 Bedroom Units
- # 1 Bedroom Units
- 2
- Avg Rent
- 1095
- Avg SqFt
- 750
- # Baths
- Yes
2 Bedroom Units
- # 2 Bedroom Units
- Yes
- Avg Rent
- 1395
- Avg SqFt
- 1200
- # Baths
- 15
Project Type
- 25 - 50 Units
- Yes
Construction
- Wood Frame
- Yes
Const - Finish
- Painted
- Yes
- Stucco
- Yes
Roofing
- Composition
- Yes
Floors
- Vinyl
- Yes
Sale Includes
- Land & Building
- Yes
Income & Expenses
- Annual Elec Exp
- 4704
- Annual Ins Exp
- 7568
- Annual Landscape Exp
- 4725
- Annual Legal & Acctg
- 1190
- Annual Maint Exp
- 12150
- Annual Mgmt Exp
- 15753
- Annual Trash Exp
- 1942
- Annual Wtr/Swr Exp
- 10679
- Owner Association
- No
- Annual Ownr Asoc Fee
- 0
- Operating Exp
- 64082
- Other Income
- 24570
- Vacancy Allowance
- 0.05
- Adjusted Gross Inc
- 320083.5
Pmt & Rate Info
- Cap Rate
- 6
- Equity
- 3895000
- Down Payment %
- 0
- Monthly Payments
- 0
- Total Owed
- 0
Lockbox Type
- See Private Remarks
- Yes
Community Features
- Pool
- Yes
Heating
- Electric
- Yes
- Individual
- Yes
Cooling
- Individual
- Yes
Exterior Amenities
- Landscape Water System
- Yes
- Fenced
- Yes
- Separate Storage
- Yes
- Security Light(s)
- Yes
Tenant Pays
- Electricity
- Yes
Appliances Included
- Disposal
- Yes
- Microwave
- Yes
- Refrigerator
- Yes
- Built-In Range
- Yes
- Washer/Dryer
- Yes
Road Access Type
- City Street
- Yes
Road Surface Type
- Asphalt
- Yes
Source of Fincl Data
- Owner
- Yes
- Projected Proforma
- Yes
Water Source
- City Franchise
- Yes
- Master Meter
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- 1 Space/Unit
- Yes
- Paved
- Yes
Electric
- SRP
- Yes
Gas
- None
- Yes
Owner Pays
- Water
- Yes
- Trash Collection
- Yes
New Financing
- Cash
- Yes
- Conventional
- Yes
- 1031 Exchange
- Yes
Existing 1st Loan
- Other (See Rmks)
- Yes
Existing 1st Loan Type
- Fixed
- Yes
Existing 1st Loan Terms
- Assume - Qualify
- Yes
Reports/Disclosures
- None
- Yes
Environmental
- None
- Yes
3 Bedrooms Units
- Avg Rent
- 0
4 Bedrooms Units
- Avg Rent
- 0
Property Features
Project Type:
25 - 50 Units
Construction:
Wood Frame
Const - Finish:
Painted; Stucco
Roofing:
Composition
Floors:
Vinyl
Sale Includes:
Land & Building
Community Features:
Pool
Exterior Amenities:
Landscape Water System; Fenced; Separate Storage; Security Light(s)
Appliances Included:
Built-In Range; Refrigerator; Disposal; Microwave; Washer/Dryer
Heating:
Individual
Cooling:
Individual
Water Source:
City Franchise; Master Meter
Sewer:
Sewer - Public
Electric:
SRP
Gas:
None
Parking Features:
1 Space/Unit; Paved
Road Access Type:
City Street
Road Surface Type:
Asphalt
Owner Pays:
Water; Trash Collection
Tenant Pays:
Electricity
Source of Fincl Data:
Owner; Projected Proforma
Showing Notification Methods:
Text; Phone Call
Lockbox Type:
See Private Remarks
Existing 1st Loan:
Other (See Rmks)
Existing 1st Loan Type:
Fixed
Existing 1st Loan Terms:
Assume - Qualify
New Financing:
Cash; Conventional; 1031 Exchange
Environmental:
None
Listing Office:
Matthews Real Estate Investment Services
Last Updated: March - 26 - 2026
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