2520 Mclellan BlvdPhoenix, AZ 85017

This exceptional 81-unit apartment complex, Casa Blanca Apartments, presents a compelling investment opportunity in Phoenix, Arizona. Priced at $8,995,000 ($111,000 per unit and $159 per square foot), this multifamily property boasts 56,400 net rentable square feet across eight, two-story buildings situated on a 194,709 square foot lot (APN: 156-02-010D). Built in 1972 and zoned R-5, the property enjoys a 91% occupancy rate. The unit mix includes one studio, 21 one-bedroom, 53 two-bedroom, and six three-bedroom units. A significant portion of the units are designated as affordable housing, with 64 units under the Low Income Housing Tax Credit (LIHTC) program (LIHPRHA) and 16 units under a Section 8 HAP contract extending until 2033. One conventional unit is also included. All utilities are master-metered via a boiler/chiller system. The property benefits from its strategic location along I-17, near Grand Canyon University (over 25,000 students projected for 2024-2025), providing convenient access to employment centers and entertainment in Midtown and Downtown Phoenix. Seller financing is available, making this a truly unique value-add opportunity with strong potential for future growth.