37 W Medlock Drive, Phoenix, AZ 85013

Property Description

Advantageously positioned just north of the Central Avenue and Camelback Road intersection, hidden within one of Central Phoenix's affluent residential areas is a 13-unit apartment community, Medlock Place (''the property''). Conveniently located in the heart of the historic uptown submarket, its nearby proximity to one of The Valley's major transportation arteries, State Route 51, affords residents direct access and simple passage to nearly any destination across The Valley. Positioned minutes from a long-standing landmark of Phoenix, Uptown Plaza blends mid-century modern charm with the high-rises that line both sides of Central Avenue. Anchoring the gateway to North Central Phoenix's historic core, Medlock Place presents outstanding walkable access to a mix of the best local and national retailers and restaurants including The Henry, Chula Seafood, Shake Shack, AJ's, and West Elm. Recognized by its sprawling residential estates and scarcity of developable land, Uptown Phoenix offers a highly coveted neighborhood atmosphere, boasting an average single family home sale price of ±1,189,390 (last 90 days). In addition, Medlock Place benefits from long-term profitability of location due to Uptown Phoenix's high barriers to submarket entry. Built in 1959 and fully renovated in 2020, Medlock Place is comprised of 10 two-bedroom floorplans (77%), 2 studio floorplans (15%), and 1 one-bedroom floorplan (8%) floorplans covering an average of ±773 square feet. All 13 units have been renovated with interior upgrades including new appliances, countertops, cabinets, flooring, fixtures, hardware and individual washer/dryers.