Loft 23 21050 N 23rd Ave 8 Unit Apartment Building $4,956,804 CAD ($619,600 CAD/Unit) 5.01% Cap Rate Phoenix, AZ 85027

CBRE is pleased to present the exclusive offering of Loft23 Townhomes, a premier multifamily investment opportunity located at 21050 N 23rd Avenue in Phoenix, Arizona. Built in 2023, the property consists of eight well-designed townhome units, each featuring three bedrooms, two and a half bathrooms, and approximately 1,500 square feet of modern living space. Every unit includes a private garage and back patio, offering residents the comfort and privacy of single-family living within a boutique rental community.
Loft23 Townhomes is ideally positioned just north of Arizona State Route 101 and Interstate 17, providing seamless connectivity to major employment corridors and entertainment destinations throughout Metro Phoenix. The property benefits from its proximity to several key demand drivers, including being just 10 minutes from the new TSMC semiconductor campus, 1.4 miles from HonorHealth Deer Valley Medical Center, and 1 mile from Deer Valley Middle School and Barry Goldwater High School. Residents also enjoy access to outdoor recreation, with Cave Buttes Recreation Area, Sonoran Preserve Desert Vista Trailhead, and Union Peak all within a short drive.
The investment appeal of Loft23 Townhomes is amplified by the strong and diversifying economic landscape of North and Central Phoenix. The city continues to experience robust job and population growth, driven by major investments in high-tech manufacturing, healthcare, financial services, and education. Phoenix added nearly 55,000 new jobs in 2024, while welcoming over 89,000 new residents, making it one of the fastest-growing cities in the United States. North Phoenix, in particular, outpaced the broader metro area with 3.8% annual employment growth, fueled by the semiconductor industry’s expansion through TSMC’s new facility, which alone is expected to create approximately 6,000 direct high-tech jobs and more than 20,000 construction positions.
This rapid employment and population growth continues to translate into sustained demand for quality rental housing near key job centers. With immediate access to major transportation routes, including Loop 101 and I-17, Loft23 Townhomes offers residents convenient commutes to North Phoenix, Uptown and Midtown Phoenix, the Biltmore District, and numerous major employment hubs. The property’s family-oriented design, desirable location, and limited supply of comparable product in the submarket position it for strong tenant retention, long-term rent stability, and future appreciation.
Loft23 Townhomes represents a rare opportunity to acquire a newly built, low-density multifamily asset in one of Phoenix’s fastest-growing submarkets. Its combination of modern construction, prime accessibility, and proximity to large-scale employment drivers like TSMC and HonorHealth Deer Valley solidifies its position as a high-performing asset poised to benefit from Phoenix’s ongoing economic and population expansion.