Considering Phoenix AZ - anyone familiar w/ area?

Question

The neighborhood is technically 'coranado' on  Vista Rd Phoenix. Curious if anyone has experience in this area etc.. I would be investing from MA. I have 3 investments out of state but curious to get more info on this area and if people would recommend it

Donald Kellogg · Answer

Let me know if there is any other way I can help.

Sunanda Nair · Answer

@Pamela Sandberg thanks! i might have a few other questions :)

Ric Kenworthy · Answer

We currently hold two STR’s in Old Town Scottsdale. 1BR condos that are doing very well. We also manage a couple others. Not only have they appreciated nearly 30% in a year but they’re doing $2-4K/month in STR Revenue. Very liberal STR laws as well. Great place to get in!

Pamela Sandberg · Answer

Hi Sunanda,

Coronodo is a fun historical neighborhood that borders downtown proper. It's very close to bars, restaurants, nightlife, and everything else happening downtown, so in general the location is great. Be sure to check out the regulations on what you want to do with your investment - construction is pretty well regulated on the historical properties, and there can be restrictions on short term rentals, etc.

Feel free to PM me with any additional questions!

Donald Kellogg · Answer

I would recommend it depending on what you’re enter and exit Strategy?

Ric Kenworthy · Answer

@Sunanda Nair we have a house/casita combo off Almeria right next to Coronado Park and Banner University Hospital. It’s doing VERY well. Definitely an up and coming area. Did you get up and running there?

Sunanda Nair · Answer

@Ric Kenworthy thanks for the info! really appreciate it

Sunanda Nair · Answer

@Donald Kellogg thanks! strategy is to buy and hold for a while and rent out.

Considering Phoenix AZ - anyone familiar w/ area?

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