Starlight Apartments 2234 W Hazelwood St 24 Unit Apartment Building $5,025,312 CAD ($209,388 CAD/Unit) Phoenix, AZ 85015

Hazelwood Apartments is a 24-unit, garden-style multifamily community built in 1970 and located in Central Phoenix. The property features a mix of (8) one-bedroom and (16) two-bedroom floor plans, each individually metered for electricity. Community amenities include an on-site laundry facility and 34 parking spaces.
Only 25% of the units are governed by a recorded Land Use Restriction Agreement (LURA) established under the HUD Neighborhood Stabilization Program. These designated units require income-qualified tenancy and compliance with HUD-approved rent limits through 2030, ensuring continued affordability and program adherence, while the remaining units operate at market rates.
Hazelwood Apartments is positioned near the light rail corridor, Grand Canyon University, and several major employment centers in the Central Phoenix submarket. The surrounding neighborhood continues to experience infill growth and redevelopment, with multiple new residential and mixed-use projects underway. The property provides convenient access to the I-17 and SR-51 freeways, connecting residents to Uptown Phoenix, Midtown, and nearby commercial and educational corridors.
The property offers a light value-add opportunity through interior and exterior improvements such as updated finishes, modernized common areas, and enhanced curb appeal. Continued reinvestment in the surrounding neighborhood and consistent tenant demand for affordable housing provide additional potential for operational efficiency and long-term stability.
The property offers a light value-add opportunity through interior and exterior improvements such as updated finishes, modernized common areas, and enhanced curb appeal. Continued reinvestment in the surrounding neighborhood and consistent tenant demand for affordable housing provide additional potential for operational efficiency and long-term stability.