Description

This investment offering is located within the 52-unit Montego Bay condominiums development. The investment opportunity consists of 21 condominium units consisting of 12 two-bedroom, two-bath units at ±860 square feet, 5 one-bedroom, one-bath units at ±582 square feet family townhome units, and 4 studio units, at ±388 square feet in size. All units are individually-metered for electricity and centrally-metered for water.

Constructed in 1986, Montego Bay was originally built as apartment homes and was later converted to condominiums in April 2007.

Situated on approximately 1.91 acres, Montego Bay Condominiums is comprised of three two-story buildings, and consists of 40 two-bedroom, two-bath units (77%), 8 one-bedroom, one-bath units (15%), and 4 studio units (8%), for a total of 52 units. Built in 1986, the property is of frame and stucco construction and has flat roofs.

Unit amenities include stacked washer and dryer hook-ups, ceramic tile, cable and high-speed internet access, outside storage, private balcony/patio, and semi-private entries.

Common area amenities include a swimming pool and spa, on-site laundry facility, security gate access and covered parking.

The subject property is located on Longview Avenue south of Campbell Avenue with frontage on Longview Avenue. The property is well-located near the Phoenix Country Club, Steele Indian School Park, Madison Park, Camelback Colonnade, Town and Country Shopping Center, Biltmore Fashion Park, Camelback Esplanade, Arizona Biltmore Resort and Spa, Central business corridor, and SR 51 and Interstate 10 freeways. Additionally, the subject property is located near numerous major employers including the VA Medical Hospital, Phoenix Children' s Hospital, Phoenix Indian Medical Center, St. Joseph' s Hospital, Banner Health, Arizona Heart Hospital, Hospice of the Valley, Kitchell Corp, Evercare and A&M Associates.