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$8,750,000
126 Days Online

21606 N 23rd Avenue
Phoenix, AZ 85027

For Sale|Multi-Family|Active
County:
Maricopa

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21606 N 23rd Avenue21606 N 23rd Avenue21606 N 23rd Avenue21606 N 23rd Avenue
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PRE-TCO OPPORTUNITY ZONE OFFERING Deer Valley 24 by Emery Lane is a brand new, 24-unit apartment project, finishing late 2023 / early 2024. The property is located in the incredibly active Deer Valley submarket in North Phoenix where the massive TSMC chip facility is under development. Approximately 8 miles away, TSMC project is one of the most newsworthy commercial projects in the nation with an estimated $40 billion investment which is one of the largest foreign outlays in US history. In addition to the more than 10, 000 construction workers linked to the site, TSMC Arizona's projects are expected to create an additional 10, 000 high-paying high-tech jobs, including 4, 500 direct TSMC jobs. Deer Valley 24 is also about a mile away from the Deer Valley Airport and industrial hub. Other major employers and retail in the area include; HonorHeath Medical Center, Costco, and the massive Deer Valley Town Center (Target, AMC Theaters, Michaels, etc.), all approximately a mile away. This location is as strong as it gets and allows residents to enjoy, with ease, so much of what all parts of Phoenix have to offer. With many dining, shopping, entertainment, and employment options, as well as multiple freeway access points within minutes, this property should prove to be a phenomenal investment opportunity. Deer Valley 24 by Emery Lane features 24 well-planned, large units in one of the best submarkets in the Valley. The project features a good unit mix of (20) 1, 150 SF 2-bed / 2-bath units and (4) 1, 250 SF 3-bed / 2-bath units. The units are all large and feel like single family residences with modern floor plans. Each unit has an interior washer / dryer and is individually metered for electricity. This project offers a rare, bite-sized, new-build in an extremely hot submarket. With the amount of employment (existing and new employment growth) in the area as well as the lack of new apartment development coming online in the near term in this submarket, Deer Valley 24 should lease up quickly and have strong occupancy into the future. Deer Valley 24 by Emery Lane is situated within an Arizona Opportunity Zone. The project has not yet received its temporary or final certificate of occupancy, so an investor may purchase the property Pre-TCO and potentially take advantage of the tax benefits allowed within the Opportunity Zone, if so desired.

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Listing Snapshot
Price 
$8,750,000
Days Online 
126 Days
Bedrooms 
N/A
Inside Area (SqFt) 
N/A
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
N/A
Year Built 
2023
MLS Number 
6621550
Status 
Active
Property Tax 
$1,962
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
4 weeks agoListing updated with changes from the MLS
4 months agoListing first seen online
General Features
Construction 
See Remarks
Parking 
Other ( See Remarks)
Parking Spaces 
0
Sewer 
Public Sewer
Acreage 
0
Cross Street 
Deer Valley & 23rd Ave
Zoning 
R5
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Exterior Features
Roof 
See Remarks
Community Features
Community Features 
See Remarks
Schools
School District
Deer Valley Unified District
Elementary School
Unknown
Middle School
Unknown
High School
Unknown
Listing courtesy of ABI Multifamily.



All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2024 Arizona Regional Multiple Listing Service, Inc. All rights reserved.
Data Last Update: 2024-02-27 04:50 AM UTC

Neighborhood & Commute
Source: Walkscore
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