If you are an investor looking to invest in Phoenix, you can be easily swayed by lucrative investments that will not satisfy your needs and wants. There are various elements to be considered before a property is deemed ideal.
You’ll want to know if the property is in demand, fits in your budget projection and whether the property value there will keep appreciating.
To help you with the selection, our team has picked out several neighborhoods that have stood out over the years. These neighborhoods offer a tremendous opportunity for you to enjoy the full benefits of rental property ownership.
Arcadia
Arcadia mainly focuses on family housing; that’s why the area is surrounded by prestigious schools to cater to children within the area. Households living here can be assured that their children are receiving comprehensive education and the best programs in the area.
As mentioned earlier, if you are investing in Arcadia, you are looking to attract families or couples looking to settle down. Most of the real estate is in the form of single-family residences, bungalows, or maisonettes.
Arcadia also provides residents with several amenities. The local paths are bicycle friendly, and it’s easy to access certain destinations like the Camelback Mountain Summit and the Arizona Canal Trail.
The mature greens make it a haven to live in, travel with your family, and commute to and from your place of work on a daily basis. The shopping centers are also located nearby.
This is a place that is growing steadily, and should all things hold steady, you can expect an appreciation in value.
Mesa
If you are an investor interested in student housing, then Mesa is the place for you to consider. Currently, this place is booming with students and would be a great place for future cash flow.
Mesa provides great schools, easy access to the city, and a rich cultural entertainment scene. What else could a university student ask for?
With student housing, you can tap into the thousands of students who are flowing in and out of the area. However, you might want to put in place policies and provisions in the lease agreement that protect your rental property.
You can get in touch with the leading property experts in the region, so we can advise you accordingly.
Goodyear
The neighborhood has been featured in Money Magazine. That’s a good indicator that the quality of living is high, and there are plenty of opportunities for you to get tenants of a high profile or status.
You might be scared that a Goodyear rental property is out of your price range, but you might be surprised. The property in the neighborhood is quite affordable, especially when compared to other options on this list.
With its steady demand, you can expect to have full occupancy most of the year and possibly hit your target ROI.
Chandler
Chandler is increasingly growing in popularity and is now the fourth largest area in Arizona. It’s popular with families and Millennials because it offers safety, top-rated schools, and has a technology center hub.
With the energy that this young blood possesses, it’s time that you see it as an investor in the next wave of the market.
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Chandler also has many fun community events, such as its Ostrich Festival and ostrich competitions. The events foster relationships among the residents and makes it easier for new residents to plug into the community.
Anthem
Most people dream of having a beautiful view outside of their house. They want to wake up to see a beautiful ocean or have a great view of the city. The thing is, it is hard to get such apartments for your clients.
Anthem provides this exclusive benefit to anyone who lives in the area. What this means for you as an investor is that you can charge a premium for this. Renters will be willing to pay extra to enjoy this view every morning.
This great environment is loaded with a bunch of new construction homes in numerous architectural styles and modern condos. One such area is the Del Webb community. The community is nestled next to New River, Arizona. This is a magnificent scenery, not just to imagine, but to see and feel every day.
This area has also been named one of the best places to raise a family by Parenting Magazine. That is social proof that this area is secure for families and young couples.
Garfield
This is a hotbed for entrepreneurs, and as a result, created a buzz to the developing area. The commercial activity caused by the immigrating business personnel has brought about artsy events and dining areas near the residential areas.
If any of your tenants are into history, they will enjoy the historical homes and pyramid cottages for sightseeing.
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While property here is appreciating in value, it is still not too late to join the bandwagon and get yourself a piece of the cake. The team at Service Star Realty is willing to help you make the transition to rental property owner.
Tempe
This area has an urban setting due to its close proximity to the downtown area. The common kind of people who stay in this area are professionals who want to stay closer to their job and ease up the commute process.
A large portion of Fortune 500 firms bases their headquarters here. It’s a community of grinders and learners since they are also surrounded by the University of Arizona situated in Tempe. Tempe is great for those who don’t mind keeping long hours working.
The city is more than an entrepreneurial hub and holds features for the Arts, Tempe Town Lake, and Tempe Beach Park. The activities to do this in this city are endless, and it’s just up to you to decide.
Conclusion
Investing in a property in Phoenix is just the first step to creating wealth for you and the people you care about. The other part is concerned with growing and nurturing your investment. If you are looking to invest in Phoenix, consider Tempe, Goodyear, Anthem, Mesa, Garfield, and Mesa.
Are you wondering how to start the process? At Service Star Realty, we will help you evaluate your investment. We are more than a company and will help you navigate through the risk.
Contact us today.
Service Star Realty
2929 East Camelback Road #119, Phoenix, AZ 85016
(480) 426-9696
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