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
Country: US
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