Casa Lomas Townhomes in Avondale AZ is a quaint community built in 2007. Consisting of six buildings; 21 of 26 units being sold in bulk, all of which are three Bedroom / 2.5 Bathroom fee simple townhomes averaging 1,340 SF. The units are individually metered for utilities; tenant pays electric, water, sewer, & trash.
Casa Lomas’ bulk townhome BULK SALE offering of twenty-one units provides an investor with a fully occupied, fee simple townhome bulk package with very low maintenance expenses and professionally managed HOA. The average monthly rent is approximately $856, or $0.64 PSF; slightly below submarket average of $950., OR $0.71 PSF. The Southwest Outlying Submarket rents have not yet reached their pre-recession highs. At $950 per month, asking rents are still about 3% below the metro average; however, demand significantly dropped following the recession and rent growth was subdued. Growth only recently declined, after expanding 2% in the past 12 months. Asking rents are predicted to reach their prerecession highs again in 2016 as demand for apartment units finally begins to climb. With absorption forecast to hold steady through 2019, average rent growth is projected to be among the strongest in the metro area.
Casa Lomas interior units boast a spacious floor plan for couples and families in the area. Every unit is equipped with a full master bath with double sinks, large walk-in closets, two additional bedrooms upstairs, formal dining room, breakfast bar off the kitchen, and one car attached garage. All units are equipped with ceiling fans, refrigerator, microwave, oven, dishwasher, and washer/dryer hookups. Exterior is painted stucco and wood frame construction with comp shingle pitched roofs. All units come with front patios & 2nd story balconies.
The Casa Lomas Townhomes is situated in Central Avondale, walking distance to the Agua Fria Union High School. Excellent location just minutes from the I-10/Dysart Interchange in booming Avondale/Goodyear commercial/residential corridor with easy access to the rest of the Valley’s Freeway systems. Surrounding area includes such retailers as Sam’s Club, Home Depot, Wal-Mart, PetSmart, Lowes, Sportsmans, JC Penny Home, Kohl’s, Target, Michaels, Best Buy, 99cents Only and more. Casa Lomas is near the Historic Avondale Art’ s District, offering close proximity to cultural venues, restaurants, art galleries, city parks, and entertainment outlets.
Jeff Cline & Michael Finch
SVN I RealStar Advisors