mountain creek apartments investment property offering5 rent comparables adjusted monthly rent...
TRANSCRIPT
Investment Property Offering
A 38 Unit Apartment Complex Located in Phoenix, ArizonaDistressed Asset Receivership Sale - Call for Offers April 30, 2010
Mountain Creek Apartments
1222 E. Mountain View Road Phoenix, AZ
Bill Hahn Senior Vice President 602 222 5105 – Direct 602 418 9578– [email protected]
Jeffrey Sherman Senior Associate 602 222 5109 – Direct602 694 1127 – [email protected]
Trevor Koskovich Senior Associate602 222 5145 – Direct480 227 7420 - [email protected]
www.colliers.com/phoenix
Table of Contents I Executive Summary 1
II Financial Summary 3
III Comparables Rent 5 Sales 8
IV Property Photos 11
V Location Maps Aerial Far 12 Aerial Close 13 Parcel Map 14 VI Appendix Legal Disclaimer
Location 1222 East Mountain View Road Phoenix, Arizona 85020
List Price $850,000
Price Per Unit $22,368
Price Per Square Foot $28.57
Total Units 38
Building Square Footage 29,754
Number of Buildings 2
Land Acres 1.46
Executive Summary
EXECUTIVE SUMMARY | COLLIERS INTERNATIONAL | 1
Cross Street Cave Creek Road & Mountain View Road
Market Phoenix
Sub Market Piestewa Peak Corridor
Year Built 1985
Building Class B
Location Class C
HVAC Individual
Tax Parcel Number 159-30-111 to 159-30-130
Foundation Type Concrete Slab
Number of Stories 2
Current Cap Rate 6%
Stabilized Cap Rate 11%
Campus LoftsApartments
1116 East Lemon Street Tempe, AZ
Mountain CreekApartments
1222 E. Mountain View Road Phoenix, AZ
EXECUTIVE SUMMARY | COLLIERS INTERNATIONAL | 2
Executive Summary
AREA DESCRIPTION
The Mountain Creek Apartments is located at 1222 E. Mountain View Rd., Phoenix, Arizona, approximately one block from Cave Creek Road, a major city thoroughfare. This locale places residents of Mountain Creek Apartments within close proximity to the metro Phoenix freeway system. The interchange with SR-51 freeway is located within three miles of the property, giving residents complete access to the metropolitan area. A city park and a major chain grocery store are located less than a block away, as is a city bus line. Major employers in the immediate area include John C. Lincoln Hospital, Home Depot, and numerous other retail outlets.
The area immediately surrounding Mountain Creek Apartments is primarily commercial properties and single-family.
The property is condo mapped and was recently updated with remodeled interiors, exterior paint, and a stack stone trim facade. Mountain Creek represents a true turn-key investment opportunity.
PROPERTY DESCRIPTION
Mountain Creek Apartments is a two-story apartment community built in 1985, comprising 37 two-bedroom / one-bathroom rental units and 1 one-bedroom / one-bathroom rental unit. All units are rented unfurnished. Construction is wood frame and stucco, with pitched roofs. All units are individually-metered for utilities. The owner is responsible for water, sewer, and trash collection. Heating and cooling are provided by roof mounted individual HVAC units. Outdoor amenities include a swimming pool, on-site laundry facility, and dedicated parking spaces for residents. Unit amenities include all-electric kitchens and cable television. The desert landscaping on the property requires low maintenance and very little water. The 62 parking spaces create a parking ratio of 1.57 spaces to each unit. A rental office is located on property and security is enhanced with a gated entrance.
There are two buildings in the Mountain Creek Apartments complex which are perpendicular to Mountain View Road. They are constructed on a rectangular site comprising approximately 1.46 acres, and provide 29,754 rentable square feet.
Mountain CreekApartments
1222 E. Mountain View Road Phoenix, AZ
Mountain CreekApartments
1222 E. Mountain View Road Phoenix, AZ
Current Financial Summary
FINANCIAL SUMMARY | COLLIERS INTERNATIONAL | 3
Year Built 1985
Total Units Total Square Feet38 29,754
Units Type Sq. Ft. Actual RentEstimated Current
37 2BD/1BA 783 $600 22,200$ 1 1BD/1BA 600 $500 500$
Monthly Scheduled Gross Rent 22,700$
Annual Scheduled Gross Rent Current 272,400$ Physical Vacancy 31.0% (84,444)$ Economic Vacancy* 8.0% (21,792)$ *Concessions, Credit Loss, etc.
Total Vacancy 39.0% (106,236)$ Net Rental Income 166,164$
Other Income ($10 per month per occupied unit) 2,760$
Gross Operating Income 168,924$
OPERATING EXPENSESProperty Taxes * Actual 2009 Taxes 16,927$ Insurance *Estimated At $200/unit 7,600$ Maintenance *Estimated At $500/unit 19,000$ Repairs *Estimated At $400/unit 15,200$ Electricity *Estimated At $150/unit 5,700$ Sewer and Water *Estimated At $300/unit 11,400$ Trash *Estimated At $100/unit 3,800$ Payroll *Estimated At $800/unit 30,400$ Management Fee *Estimated To be 4% of Collected Rent 6,757$ Administrative Expenses *Estimated At $115/unit 4,370$ Capital Reserve *Estimated At $250/unit 9,500$ Total Operating Expenses 130,654$
Operating Cost Per Unit 3,438$ Operating Cost Per Sq Ft 4.39$
Net Operating Income 38,270$
Note: Actual rent and physical vacancy are derived from the March, 2010, rent roll supplied by the property manager. Current vacant units are offered at $500 per month with one free
month to facilitate a lease up.
Projected Financial Summary18 Month Time Frame
FINANCIAL SUMMARY | COLLIERS INTERNATIONAL | 4
Year Built 1985
Total Units Total Square Feet38 29,754
Units Type Sq. Ft. Actual RentEstimated Current
37 2BD/1BA 783 $575 21,275$ 1 1BD/1BA 600 $500 500$
Monthly Scheduled Gross Rent 21,775$
Annual Scheduled Gross Rent 261,300$ Physical Vacancy 10.0% (26,130)$ Economic Vacancy* 8.0% (20,904)$ *Concessions, Credit Loss, etc.
Total Vacancy 18.0% (47,034)$ Net Rental Income 214,266$
Other Income ($10 per month per occupied unit) 3,840$
Gross Operating Income 218,106$
OPERATING EXPENSESProperty Taxes * Actual 2009 Taxes 16,927$ Insurance *Estimated At $200/unit 7,600$ Maintenance *Estimated At $500/unit 19,000$ Repairs *Estimated At $400/unit 15,200$ Electricity *Estimated At $150/unit 5,700$ Sewer and Water *Estimated At $300/unit 11,400$ Trash *Estimated At $100/unit 3,800$ Payroll *Estimated At $800/unit 30,400$ Management Fee *Estimated To be 4% of Collected Rent 8,571$ Administrative Expenses *Estimated At $115/unit 4,370$ Capital Reserve *Estimated At $250/unit 9,500$ Total Operating Expenses 132,468$
Operating Cost Per Unit 3,486$ Operating Cost Per Sq Ft 4.45$
Net Operating Income 85,638$
Note: Rents vacancy and expenses are projected, except for property taxes, which are quoted from Maricopa County Treasurers Office.
Mountain CreekApartments
1222 E. Mountain View Road Phoenix, AZ
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Apa
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1222
E. M
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Pho
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, AZ
Moon ValleyCountry Club
North/SouthGC
Quail RunGC Scottsdale Country Club
Sun CityCC
CountryMeadows GC
StateCapitol
AmericaWest Arena
Tempe DiabloStadium
Salt R iver Pima-MaricopaIndian Rese rvation
Fort McD owellMohave-Apache
Indian Rese rvation
Gila R iverIndian Rese rvation
Lost DutchmanState Park
Est rella MountainRegional Park
Phoenix South Mountain Park
TontoNat'l
Forest
McD owellMountain
Park
ThunderbirdPark
White TankMountain
Regional Park
LakePleasant
BartlettReservoir
Agua
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SaquaroLake
Salt River
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Cave
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Verde River
Verde River
Syca
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Skun
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Syca
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7th
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Irvine Rd
7th
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7th
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7th
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Cave
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Scot
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56th
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Carefree Hwy
Dove Valley Rd
Lone Mtn Rd
Morristown Hwy
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Scot
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Lake
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Cre
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Dynamite Blvd
Dixileta Dr
Lone Mountain Rd
Happy Valley Rd
51st
Ave
51st
Ave
51st
Ave
19th
Ave
67th
Ave
67th
Ave
67th
Ave
35th
Ave
83rd
Ave
83rd
Ave
Pinnacle Peak Rd Pinnacle Peak Rd
Jomax Rd
Pinnacle Peak Rd
Pinnacle Peak Rd
59th
Ave
40th
St
Deer Valley Rd
Canal
Rd
Deer Valley Rd
75th
Ave
75th
Ave
Johnson Blvd
El M
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Rd
Beardsley RdBeardsley RdBeardsley Rd
43rd
Ave
32nd
St
32nd
St
99th
Ave
91st
Ave
91st
Ave
107t
hAv
e10
7th
Ave
Union Hills DrUnion Hills Dr
El M
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Bell RdBell RdBell Rd
64th
St
64th
St
64th
St
56th
St
Dysa
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Surp
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Ave
Hayd
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Bush Hwy
Greenway RdGreenway
RdGreenway Rd
Bear
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Fountain
Hills Blvd
59th
Ave
Palisades
Blvd
Thunderbird RdThunderbird Rd Thunderbird Rd
111t
hAv
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Sweetwater Ave
24th
St
24th
St
Cactus RdCactus Rd 66th StCactus Rd
108t
h St
96th
St PalominoBlvd Kingstree
BlvdShea BlvdPeoria Ave
44th
St
Via Linda
Mountain View Rd
104t
h St
Doubletree Ranch RdDunlap AveOlive AveCe
ntra
lAve
27th
Ave
Via DeVentura
Beeline Hwy
Northern Ave16
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Litc
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ld R
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Glendale Ave
Lincoln Dr
63rd
Ave
105t
hAv
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Inve
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Mcdonald DrBethany Home Rd
20th
St
Bush Hwy
Camelback RdCamelback Rd
Pim
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Pim
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Pima Frwy
Indian School Rd
Papago Frwy
Indian School RdIndian School Rd
Osborn Rd
Reck
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Thomas Rd
Powe
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Thomas Rd
115t
hAv
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Grand Ave
Encanto Blvd Oak St
52nd
St
Reem
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195t
hAv
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Tuth
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Mcdowell Rd Mcdowell RdMcdowell Rd
ValV
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Higl
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Red Mountain Frwy
Maricopa Frwy
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Mckellips RdVan Buren St
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99th
Ave
Stap
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Washington St
7th
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7th
Ave
19th
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Cent
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24th St
24th
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59th
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User
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91st
Ave
51st
Ave
35th
Ave
Curry Rd
Jack
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Mill
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Prie
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40th
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52nd
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Coun
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48th
St
48th
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Broadway Rd Broadway RdBroadway Rd Broadway Ave
32nd
St
32nd
St
Soss
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Rd Pueblo Rd
Southern AveSouthern AveSouthern Ave
Baseline Rd Baseline RdBaseline Rd Baseline Rd
Mcq
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Rd
20th
St
Guadalupe Rd Guadalupe RdDobbins Rd
44th
St
Price
Frw
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Elliot Rd Elliot Rd
Coop
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Warner Rd
Ellsw
orth
Rd
Ray Rd
Rura
l Rd
Ray Rd
Williams Field RdChandler BlvdChandlerBlvd Ar
izona
Ave
Dese
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lsPk
wy
Liberty LnPecos Rd
Pecos Rd
Mar
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Rd
Higl
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Beltline Road
Queen Creek RdQueen Creek Rd
Gilb
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dG
ilber
t Rd
Mer
idia
n Rd
Alm
a Sc
hool
Rd
Riggs Rd
Price
Rd
Dobs
on R
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Hunt HwyHunt Hwy
Apache
Trl
Mckellips Blvd
Corte
z RdIro
nwoo
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Mer
idia
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Idah
o Rd
Lost Dutchman Blvd
Superstition Blvd
Holm
es R
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Mou
ntai
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ew R
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Gol
dfie
ld R
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Tom
ahaw
k Rd
Southern Ave
Moe
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Mou
ntai
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Vine
yard
Rd
Vine
yard
Rd
Indian Rt 3
Combs Rd
Schn
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Hunt Hwy
Queen Creek Rd
Qua
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Ln
128th
Ave
Stardust Blvd
DelW
ebb Bl
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Cave Creek Rd
Frank Lloyd Wright Blvd
SaguaroBlvd
WarnerEl
liot L
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Jomax Rd
Citru
s Rd
Waddell Rd
Glendale Ave
Camelback Rd
Perry
ville
Rd Thomas Rd Thomas Rd
Sunr
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lvd
Union Hills DrUnion Hills Dr
Greenway Rd
Cotto
n Ln
Sariv
alAv
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Reem
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Bulla
rdAv
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Litc
hfie
ld R
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Cactus Rd
Peoria Ave
Lind
say
Rd
Reck
er R
dRe
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Rd
Soss
aman
Rd
Hawe
s Rd
Crimson RdCo
oper
Rd
ValV
ista
Dr
Rittenhouse Rd
Gre
enfie
ld R
d
Pecos Rd
Mcq
ueen
Rd
Germann Rd
Queen Creek Rd
Crism
on R
d
Reeb
s Rd
Ocotillo Rd
Chandler Heights Rd
Riggs Rd
Germann Rd
Pima Rd
Kenw
orth
y Rd
Ocotillo Rd
Mes
a Rd
Coun
try C
lub
Dr
Indian School Rd
Thomas Rd
Indian Bend Rd
CanalBank Rd
Hawe
s Rd
Germann Rd
Prie
st D
r
Kyre
ne R
d
75thAve
27th
Ave
35th
Ave
Dobbins Rd
Elliot Rd
75th
Ave
Elliot Rd 59th
Ave
Carver Rd
Estrella Dr
Saint Johns
Mission Rd
Pecos Rd
43rd
Ave
75th
Ave
67th
Ave
83rd
Ave
Lower Buckeye Rd
107t
hAv
eLower Buckeye Rd
123r
dAv
e Broadway Rd
Southern Ave
Indian Springs Rd
Southern Ave
Citru
s Rd
Broadway Rd
Airp
ort R
d
Beloat Rd
93rd
Ave
27th
Ave
43rd
Ave
Pyra
mid
Pea
k Pk
wy
33rd
Ave
16th
St
Desert Hills Dr
17th
Ave Joy Ranch Rd
Cloud RdCloudRd
64th
St
Happy Valley Rd Alm
aSc
hool
Rd
Jomax Rd
116t
h St
118t
h St
64th
St
Deer Valley Rd
McDowell Rd
Dean
Rd
Lower Buckeye Rd
Elliot Rd
RainbowValley Rd
Tuth
ill Rd
Narramore Rd
Ray Rd
155t
hAv
e
171s
tAve
Williams Field Rd
163r
dAv
e
203r
dAv
e
Queen Creek Rd
Ocotillo Rd
Sand
ia R
d Buenos Aires Rd
Riggs Rd
Hunt Hwy
Tuth
ill Rd
Ocotillo Rd
Skyline Dr
Thom
pson
Rd
Phillips Rd
Indian Route 60
187t
hAv
e
211t
hAv
e
Dove Valley Rd
219t
hAv
e
Sariv
alAv
e16
3rd
Ave
Mou
nbat
ten
Rd
Dixileta DrBradley Rd
203r
dAv
e
Croz
ier S
t
Patton Rd
195t
hAv
e
Jomax Rd
Happy Valley Rd
Deer Valley Rd
136t
h St
Lone Mountain Rd
144t
h St
160t
h St
168t
h St
174t
h St
152n
d St
128t
h St
Bulla
rdAv
e
Wickenburg Hwy
Grand Ave
Grand Ave
Buckeye Rd
Main St
Black Canyon Hwy
Agua
Fria
Frw
y
Blac
k Ca
nyon
Frw
y
Pies
tewa
Frw
y
HohokamExwy
Red Mountain Frwy
48th
St
Pearl Harbor Memorial Hwy
Mar
icopa
Frw
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Superstition Frwy
S Ra
inbo
w Rd
Jack
rabb
it Trl
Bulla
rdAv
e
Patterson Rd
EaglesNest CC
Palm ValleyGolf Club
WildlifeWorld Zoo
WigwamCC
Club WestGolf Club
FoothillsGolf Club
Harrahs/Gila R iverCasinos
Arizona Biltmo reCountry Club
San Ma rcosCC
Mccormick RanchGolf Club
Happy TrailsGolf Resort
ArrowheadRanch CC
LegendGolf Resort
PointeGolf Club Stonecreek
GC
The 500Club
Tatum RanchGolf Club
Gainey RanchGolf Club
TournamentPlayers Club
GrayhawkGolf Club
Fountain HillsGolf Club
Troon NorthGolf Club
BouldersClub
Tonto VerdeGolf Club
Gold Can yonGolf Club
Deer ValleyGC
StardustGC
Briar woodCC
Echo MesaGC
Hillc restGC
GrandviewGC
The VistasGC
WestbrookVillage GC
Willowbrook andWillowcreek GC Union Hills
CC
Co yoteLa kes GC
PebblebrookGC
RiverviewGC
PalmbrookCC
PeoriaStadium
La ke East/West GC
Phoenix CommunityCollege
Grand Can yonCollege
Phoenix JuniorCollege
Phoenix JuniorCollege
Mesa CommunityCollege
Arizona StateUniversity
ScottsdaleCommunityCollege
Glendale CommunityCollege
SouthwesternCollege
Phoenix-Deer ValleyMunicipal Airport
ScottsdaleAirport
FalconField
Phoenix Sky HarborInt'l Airport
Phx -MesaGateway
ChandlerMunicipal
Airport
MARICOPAPINAL
Scottsdale
CaveCreek
DesertHills
Anthem
Ca refree
Peoria
PHOENIX
Surprise
Glendale
Sun CityWest
SunCity Fountain
Hills
ElMirage
Youngtown
ParadiseValleyLu ke
AFB
Litch fieldPark
MesaGoodyear
Goodyear
Est rellaMountain
Ranch
Avondale
Buc keye
Tolleson
Tempe
GilbertChandler
Komatke
SantaCruz
Cashion
QueenCreek
ApacheJunction
60
60
85
74
74
74
87
88
153 143
101
303
303
101
51
87
101
101
87
236
347
587
60
60
17
17
10
10
17
10
202
202
COMPARABLES | COLLIERS INTERNATIONAL | 6
Rent Comparable Map
1. Subject Property Mountain Creek Apartments 1222 E. Mountain View Rd. | Phoenix, AZ
2 Ironwood 9802 N. 9th Ave | Phoenix, AZ
3 Palm Meadows 9423 N. 17th Ave. | Phoenix, AZ
4 Villa Mira Monte Apartments 1737 W Desert Cove Ave | Phoenix, AZ
5 Mission Place 602 E. Mission Ln. | Phoenix, AZ
2 1
43
5
Mountain CreekApartments
1222 E. Mountain View Road Phoenix, AZ
MARKET SYNOPSIS | COLLIERS INTERNATIONAL | 7
Subject Property Comparison
Note - “Adjusted Monthly Rent” is the effective rent received by the property owner after adjusting for any rental concessions, on an assumed one-year lease. By way of example, if the quoted marketrent is $600 per month, and one month is free with a twelve-month lease, the Adjusted Monthly Rent is $550 ( ($600 X 11) / 12 ).
Unit Mix Total Units S.F. Monthly Rent
MonthlyRent / S.F.
AdjustedMonthly
Rent
Adjusted Rent / S.F.
2 Bed, 1 Bath 38 738 600$ 0.81$ 555$ 0.75$ Totals/Averages 38 738 600$ 0.81$ 555$ 0.75$
Comparables Property SummaryUnit Mix Total Units S.F. Monthly
RentMonthly
Rent / S.F.AdjustedMonthly
Rent
Adjusted Rent / S.F.
1 Bed, 1 Bath 46 638 405$ 0.63$ 381$ 0.60$ 2 Bed, 1 Bath 88 749 575$ 0.77$ 535$ 0.71$ 2 Bed, 2 Bath 128 805 552$ 0.69$ 528$ 0.66$ 3 Bed, 1 Bath 7 952 689$ 0.72$ 640$ 0.67$ Totals/Averages 269 762 538$ 0.70$ 508$ 0.67$
Mountain CreekApartments
1222 E. Mountain View Road Phoenix, AZ
COMPARABLES | COLLIERS INTERNATIONAL | 8
Sales Comparables
PropertyLocation
YearBuilt
#Units Unit Mix
SalesPrice
Price/Unit Price/SF
Close of Escrow
PropertyPhotograph
2316-2318 E. Roosevelt St. 1949 14 14 Studios 470,000$ $33,571 $26.51 10/7/2009Phoenix, AZ 85006
Garden Cove 1976 44 1 1BD/1BA 1,500,000$ $34,091 $41.20 10/15/20091626 W. Desert Cove Ave. 43 2BD/1BAPhoenix, AZ 85029
Alice Apartments 1964 10 8 1BD/1BA 225,000$ $22,500 $34.09 10/16/2009207 E Alice Ave 2 2BD/1BAPhoenix, AZ 85020
Vallejo Apartments 1961 24 23 1BD/1BA 615,000$ $25,625 $49.36 10/29/20091827 E. Lemon Street 1 2BD/1BATempe, AZ 85281
Royal 8th Avenue 1963 36 16 1BD/1BA 975,000$ $27,083 $36.07 11/24/20094435-4436 N. 8th Avenue 18 2BD/2BAPhoenix, AZ 85013 2 3BD/2BA
Strakas Apartments 1981 12 12 2BD/1BA 344,333$ $28,694 $30.20 11/25/20091207 E. Jarvis AvenueMesa, AZ 85204
Camelback Gardens 1965 16 1 1BD/1BA 375,000$ $23,438 $28.52 12/18/20095110 N. 21st Ave. 15 2BD/1BAPhoenix, AZ 85015
Mountain CreekApartments
1222 E. Mountain View Road Phoenix, AZ
Mountain CreekApartments
1222 E. Mountain View Road Phoenix, AZ
Sales Comparables
COMPARABLES | COLLIERS INTERNATIONAL | 9
PropertyLocation
YearBuilt
#Units Unit Mix
SalesPrice
Price/Unit Price/SF
Close of Escrow
PropertyPhotograph
Franciscan Apartments 1965 28 28 Studio 925,000$ $33,036 $36.71 12/23/20096807 N. 45th Ave.Glendale, AZ 85301
Casa Blanca 1985 21 11 1BD/1BA 550,000$ $26,190 $41.72 1/21/20103131 N Black Canyon Hwy 10 2BD/1BAPhoenix, AZ 85015
Highland Park 1974 70 36 1BD/1BA 1,625,000$ $23,214 $31.04 1/25/20107232 N. 27th Ave. 34 2BD/1BAPhoenix, AZ 85051
Montego Apartments 1979 14 13 2BD/1BA 470,000$ $33,571 $38.76 2/24/20103029 N 38th Street 1 3BD/2BAPhoenix, AZ 85018
Villa Serena 1963 16 4 1BD/1BA 420,000$ $26,250 $23.21 2/24/20106802 N 17th Ave 12 2BD/1.5BAPhoenix, AZ 85015
3011 N 38th Street 1971 15 13 1BD/1BA 330,000$ $22,000 $38.24 2/242010Phoenix, AZ 85018 1 2BD/1BA
1 2BD/2BA
Pierson Apartments 1958 12 4 1BD/1BA 429,000$ $35,750 $41.24 2/26/2010605 W Pierson Street 4 2BD/1BAPhoenix, AZ 85015 4 3BD/2BA
AVERAGES 1968 24 660,952$ 28,215$ $35.49
Sold By Colliers HSK Multifamily Specialists
COMPARABLES | COLLIERS INTERNATIONAL | 10
Sales Comparables Map
1. Subject Property Mountain Creek Apartments 1222 E. Mountain View Rd. | Phoenix, AZ
2 2316-2318 E. Roosevelt St. | Phoenix, AZ
3 Garden Cove 1626 W. Desert Cove Ave. | Phoenix, AZ
4 Alice Apartments 207 E Alice Ave | Phoenix, AZ
5 Vallejo Apartments 1827 E. Lemon Street | Tempe, AZ
6 Royal 8th Avenue 4435-4436 N. 8th Avenue | Phoenix, AZ
7 Strakas Apartments 1207 E. Jarvis Avenue | Mesa, AZ
8 Camelback Gardens 5110 N. 21st Ave. | Phoenix, AZ
9 Franciscan Apartments 6807 N. 45th Ave. | Glendale, AZ
10 Casa Blanca 3131 N Black Canyon Hwy | Phoenix, AZ
11 Highland Park 7232 N. 27th Ave. | Phoenix, AZ
12 Montego Apartments 806 E. Carol Ave. | Phoenix, AZ
13 Villa Serena 6802 N 17th Ave | Phoenix, AZ
14 3011 N 38th Street | Phoenix, AZ
15 Pierson Apartments 605 W Pierson Street | Phoenix, AZ
21
4
Moon ValleyCountry Club
North/SouthGC
Quail RunGC Scottsdale Country Club
Sun CityCC
CountryMeadows GC
StateCapitol
AmericaWest Arena
Tempe DiabloStadium
Salt R iver Pima-MaricopaIndian Rese rvation
Fort McD owellMohave-Apache
Indian Rese rvation
Gila R iverIndian Rese rvation
Lost DutchmanState Park
Est rella MountainRegional Park
Phoenix South Mountain Park
TontoNat'l
Forest
McD owellMountain
Park
ThunderbirdPark
White TankMountain
Regional Park
LakePleasant
BartlettReservoir
Agua
Fria R
iver
Verde Rive
r
New
River
LakeBonita
Trilby WashDetention Basin
SaquaroLake
Salt River
Salt River
CanyonLake
Gila River
CanyonLake
Cave
Cre
ek
Gila River
Verde River
Verde River
Syca
more
Cre
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Alder Creek
Skun
k Cree
k
Cave Creek
Syca
more Cr
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Queen Creek
Beeli
ne H
wy
Beeli
ne H
wy
New R
iver R
d
7th
St7t
h St
7th
St7t
h St
Irvine Rd
7thA
ve7t
h Ave
7th A
ve
Cave
Cre
ek R
d
Scot
tsdale
Rd
Scot
tsdale
Rd
Pim
a Rd
56th
St
Carefree Hwy
Dove Valley Rd
Lone Mtn Rd
Morristown Hwy
Carefree Hwy
Scot
tsdale
Rd
Lake
Plea
sant
Rd
Cave
Cree
k Rd
Tatu
m B
lvdTa
tum
Blvd
Dynamite Blvd
Dixileta Dr
Lone Mountain Rd
Happy Valley Rd
51st
Ave
51st
Ave
51st
Ave
19th
Ave
67th
Ave
67th
Ave
67th
Ave
35th
Ave
83rd
Ave
83rd
Ave
Pinnacle Peak Rd Pinnacle Peak Rd
Jomax Rd
Pinnacle Peak Rd
Pinnacle Peak Rd
59th
Ave
40th
St
Deer Valley Rd
Canal
Rd
Deer Valley Rd
75th
Ave
75th
Ave
Johnson Blvd
El M
irage
Rd
Beardsley RdBeardsley RdBeardsley Rd
43rd
Ave
32nd
St
32nd
St
99th
Ave
91st
Ave
91st
Ave
107t
hAve
107t
h Ave
Union Hills DrUnion Hills Dr
El M
irage
Rd
Bell RdBell RdBell Rd
64th
St
64th
St
64th
St
56th
St
Dysa
rt Rd
Surp
riseA
ve
Hayd
en R
d
Bush Hwy
Greenway RdGreenway
RdGreenway Rd
Bear
dsley
Can
al Rd
Fountain
Hills Blvd
59th
Ave
Palisades
Blvd
Thunderbird RdThunderbird Rd Thunderbird Rd
111t
hAve
Sweetwater Ave
24th
St
24th
St
Cactus RdCactus Rd 66th StCactus Rd
108t
h St
96th
St PalominoBlvd Kingstree
BlvdShea BlvdPeoria Ave
44th
St
Via Linda
Mountain View Rd
104t
h St
Doubletree Ranch RdDunlap AveOlive Ave
Cent
ralA
ve
27th
Ave
Via DeVentura
Beeline Hwy
Northern Ave
16th
St
Litch
field
Rd
Glendale Ave
Lincoln Dr
63rd
Ave
105t
h Ave
Inve
rgor
don
Rd
Mcdonald DrBethany Home Rd
20th
St
Bush Hwy
Camelback RdCamelback Rd
Pim
a Rd
Pim
a Fr
wy
Pima Frwy
Indian School Rd
Papago Frwy
Indian School RdIndian School Rd
Osborn Rd
Reck
er R
d
Thomas Rd
Powe
r Rd
Thomas Rd
115t
hAve
Grand Ave
Encanto Blvd Oak St
52nd
St
Reem
s Rd
195t
h Ave
Tuth
ill Rd
Mcdowell Rd Mcdowell RdMcdowell Rd
ValV
ista
Dr
Higle
y Rd
Colle
geAv
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Mckellips Rd
Red Mountain Frwy
Maricopa Frwy
Santan Frwy
Mckellips RdVan Buren St
Mcc
linto
ck D
rBuckeye Rd
99th
Ave
Stap
ley D
r
Washington St
7thA
ve7t
hAve
19th
Ave
Cent
ral A
ve
7th
St
24th St
24th
St
59th
Ave
User
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s Rd
91st
Ave
51st
Ave
35th
Ave
Curry Rd
Jack
rabb
it Trl
Sky Harbor Blvd Brown RdBrown RdYuma Rd
Cotto
n Ln
Western Ave
Mill
Ave
Pries
t Dr
Rura
l Rd
Mcc
linto
ck D
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Estre
lla P
kwy
Estre
lla P
kwy
University Dr University Dr
Dobs
on R
dDo
bson
Rd
Hard
y Dr
40th
St
40th
St
52nd
St Main StMain StMain St Apache TrlApache Blvd
Linds
ay R
d
Alm
a Sc
hool
RdAl
ma
Scho
ol Rd
Mes
a Dr
Powe
r Rd
Coun
try C
lub D
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Gilbe
rt Rd
Gree
nfiel
d Rd
Crism
on R
d
48th
St
48th
St
Broadway Rd Broadway RdBroadway Rd Broadway Ave
32nd
St
32nd
St
Soss
aman
Rd Pueblo Rd
Southern AveSouthern AveSouthern Ave
Baseline Rd Baseline RdBaseline Rd Baseline Rd
Mcq
ueen
Rd
20th
St
Guadalupe Rd Guadalupe RdDobbins Rd
44th
St
Price
Frw
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Elliot Rd Elliot RdCo
oper
Rd
Warner Rd
Ellsw
orth
Rd
Ray Rd
Rura
l Rd
Ray Rd
Williams Field RdChandler BlvdChandlerBlvd Ar
izona
Ave
Dese
rt Fo
othil
lsPk
wy
Liberty LnPecos Rd
Pecos Rd
Mar
icopa
Rd
Higle
y Rd
Beltline Road
Queen Creek RdQueen Creek Rd
Gilbe
rt Rd
Gilbe
rt Rd
Mer
idian
Rd
Alm
a Sc
hool
Rd
Riggs Rd
Price
Rd
Dobs
on R
d
Hunt HwyHunt Hwy
Apache
Trl
Mckellips Blvd
Corte
z Rd
Ironw
ood
Dr
Mer
idian
Rd
Idah
o Rd
Lost Dutchman Blvd
Superstition Blvd
Holm
es R
d
Mou
ntain
View
RdOld West Hwy
Goldf
ield
Rd
Tom
ahaw
k Rd
Southern Ave
Moe
ur R
d
Mou
ntain
Rd
Vine
yard
Rd
Vine
yard
Rd
Indian Rt 3
Combs Rd
Schn
epf R
d
Hunt Hwy
Queen Creek Rd
Quail
Run
Ln
128th
Ave
Stardust Blvd
DelW
ebb Bl
vd Greenway Pkwy
Cave Creek Rd
Frank Lloyd Wright Blvd
SaguaroBlvd
WarnerEl
liot L
oop
Jomax Rd
Citru
s Rd
Waddell Rd
Glendale Ave
Camelback Rd
Perry
ville
Rd Thomas Rd Thomas Rd
Sunri
se B
lvd
Union Hills DrUnion Hills Dr
Greenway Rd
Cotto
n Ln
Sariv
alAv
e
Reem
s Rd
Bulla
rdAv
e
Litch
field
Rd
Cactus Rd
Peoria Ave
Linds
ay R
d
Reck
er R
dRe
cker
Rd
Soss
aman
Rd
Hawe
s Rd
Crimson Rd
Coop
er R
d
ValV
ista
Dr
Rittenhouse Rd
Gree
nfiel
d Rd Pecos Rd
Mcq
ueen
Rd
Germann Rd
Queen Creek Rd
Crism
on R
d
Reeb
s Rd
Ocotillo Rd
Chandler Heights Rd
Riggs Rd
Germann Rd
Pima Rd
Kenw
orth
y Rd
Ocotillo Rd
Mes
a Rd
Coun
try C
lub D
r
Indian School Rd
Thomas Rd
Indian Bend Rd
CanalBank Rd
Hawe
s Rd
Germann Rd
Pries
t Dr
Kyre
ne R
d
75thAve
27th
Ave
35th
Ave
Dobbins Rd
Elliot Rd
75th
Ave
Elliot Rd 59th
Ave
Carver Rd
Estrella Dr
Saint Johns
Mission Rd
Pecos Rd
43rd
Ave
75th
Ave
67th
Ave
83rd
Ave
Lower Buckeye Rd
107t
hAve
Lower Buckeye Rd
123r
dAve
Broadway Rd
Southern Ave
Indian Springs Rd
Southern Ave
Citru
s Rd
Broadway Rd
Airp
ort R
d
Beloat Rd
93rd
Ave
27th
Ave
43rd
Ave
Pyra
mid
Peak
Pkw
y
33rd
Ave
16th
St
Desert Hills Dr
17th
Ave Joy Ranch Rd
Cloud RdCloudRd
64th
St
Happy Valley Rd Alm
aSc
hool
Rd
Jomax Rd
116t
h St
118t
h St
64th
St
Deer Valley Rd
McDowell Rd
Dean
Rd
Lower Buckeye Rd
Elliot Rd
RainbowValley Rd
Tuth
ill Rd
Narramore Rd
Ray Rd
155t
hAve
171s
tAve
Williams Field Rd
163r
dAve
203r
d Ave
Queen Creek Rd
Ocotillo Rd
Sand
ia Rd
Buenos Aires Rd
Riggs Rd
Hunt Hwy
Tuth
ill Rd
Ocotillo Rd
Skyline Dr
Thom
pson
Rd
Phillips Rd
Indian Route 60
187t
hAve
211t
h Ave
Dove Valley Rd
219t
hAve
Sariv
alAv
e16
3rdA
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Mou
nbat
ten
Rd
Dixileta DrBradley Rd
203r
dAve
Croz
ier S
t
Patton Rd
195t
hAve
Jomax Rd
Happy Valley Rd
Deer Valley Rd
136t
h St
Lone Mountain Rd
144t
h St
160t
h St
168t
h St
174t
h St
152n
d St
128t
h St
Bulla
rdAv
e
Wickenburg Hwy
Grand Ave
Grand Ave
Buckeye Rd
Main St
Black Canyon Hwy
Agua
Fria
Frw
y
Blac
k Can
yon
Frwy
Pies
tewa
Frw
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HohokamExwy
Red Mountain Frwy
48th
St
Pearl Harbor Memorial Hwy
Mar
icopa
Frw
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Superstition Frwy
S Ra
inbow
Rd
Jack
rabb
it Trl
Bulla
rdAv
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Patterson Rd
EaglesNest CC
Palm ValleyGolf Club
WildlifeWorld Zoo
WigwamCC
Club WestGolf Club
FoothillsGolf Club
Harrahs/Gila R iverCasinos
Arizona Biltmo reCountry Club
San Ma rcosCC
Mccormick RanchGolf Club
Happy TrailsGolf Resort
ArrowheadRanch CC
LegendGolf Resort
PointeGolf Club Stonecreek
GC
The 500Club
Tatum RanchGolf Club
Gainey RanchGolf Club
TournamentPlayers Club
GrayhawkGolf Club
Fountain HillsGolf Club
Troon NorthGolf Club
BouldersClub
Tonto VerdeGolf Club
Gold Can yonGolf Club
Deer ValleyGC
StardustGC
Briar woodCC
Echo MesaGC
Hillc restGC
GrandviewGC
The VistasGC
WestbrookVillage GC
Willowbrook andWillowcreek GC Union Hills
CC
Co yoteLa kes GC
PebblebrookGC
RiverviewGC
PalmbrookCC
PeoriaStadium
La ke East/West GC
Phoenix CommunityCollege
Grand Can yonCollege
Phoenix JuniorCollege
Phoenix JuniorCollege
Mesa CommunityCollege
Arizona StateUniversity
ScottsdaleCommunityCollege
Glendale CommunityCollege
SouthwesternCollege
Phoenix-Deer ValleyMunicipal Airport
ScottsdaleAirport
FalconField
Phoenix Sky HarborInt'l Airport
Phx -MesaGateway
ChandlerMunicipal
Airport
MARICOPAPINAL
Scottsdale
CaveCreek
DesertHills
Anthem
Ca refree
Peoria
PHOENIX
Surprise
Glendale
Sun CityWest
SunCity Fountain
Hills
ElMirage
Youngtown
ParadiseValleyLu ke
AFB
Litch fieldPark
MesaGoodyear
Goodyear
Est rellaMountain
Ranch
Avondale
Buc keye
Tolleson
Tempe
GilbertChandler
Komatke
SantaCruz
Cashion
QueenCreek
ApacheJunction
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74
74
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101
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236
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60
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17
17
10
10
17
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202
2
6
4
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13
7
Mountain CreekApartments
1222 E. Mountain View Road Phoenix, AZ
9
8
13
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10 14
12
11
PROPERTY PHOTOS | COLLIERS INTERNATIONAL | 11
Property Photos
Mountain CreekApartments
1222 E. Mountain View Road Phoenix, AZ
Aer
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Far
LOC
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INTE
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Mou
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Apa
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1222
E. M
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LOC
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22 E
. Mou
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Roa
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ix, A
Z
LOCATION MAPS | COLLIERS INTERNATIONAL | 14
Parcel Map
Mountain CreekApartments
1222 E. Mountain View Road Phoenix, AZ
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