16815 N. 29th Street | Phoenix, AZ 85032
buenas paradise valley
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16815 N. 29th Street | Phoenix, AZ 85032
buenas paradise valley
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
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Mark Forrester
Senior Managing Director 602.526.4800 mark.forrester@berkadia.com AZ License #BR006620000
Ric Holway
Senior Managing Director 602.828.0074 ric.holway@berkadia.com AZ License #SA045121000
Dan Cheyne
Managing Director 602.327.4447 dan.cheyne@berkadia.com AZ License #SA578551000
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OPPORTUNITY
Berkadia is excited to present Buenas Paradise Valley, a 107-unit value-add opportunity located in North Phoenix. Constructed in 1985, Buenas PV features spacious two-bedroom units averaging 850 square feet. This is a unique opportunity to acquire a multifamily community that has been privately owned and managed for the past 15 years.
Buenas PV offers a true value-add potential, with its rent roll consisting entirely of classic units. The submarket supports an enhanced renovation package, providing a new investor with an appealing opportunity to implement a repositioning program that aligns with the neighborhood. Additional income focused improvements is the ability to install washers and dryers in the apartment homes.
Strategically positioned near Interstate 51 and Loop 101 freeways, Buenas PV benefits from proximity to some of Metro Phoenix’s most robust employment centers. Approximately 650,000 jobs are within a 20-minute drive, including a significant presence of Fortune 500 companies, insurance and financial service firms, and stable healthcare employment. The area's demand is expected to grow further due to substantial investments, including the upcoming Taiwan Semiconductor Manufacturing Facility (TSMC). This $165 billion investment is one of the largest foreign investments in U.S. history, projected to create 4,500 new high-salary direct jobs and up to 150,000 indirect jobs in the submarket.
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Two-Story Garden-Style Community with 99% Two Bedroom Floor Plans Built in 1985, Buenas Paradise Valley offers 107 apartment homes in a low-density two-story garden-style construction community. The property’s unit mix, consisting of one-bedroom (1%), and two-bedroom (99%) floorplans, with an average unit size of 849 square feet, meshes well with the surrounding area’s multi-family demographics and historical demand.
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LOCATION
John Cunningham
Senior Managing Director
602.625.7476
john.cunningham@berkadia.com
AZ License #BR034840000
Charles Steele
Senior Managing Director
602.319.5007
charles.steele@berkadia.com
AZ License #SA645142000
Andrew Curtis
Managing Director 602.571.4190 andrew.curtis@berkadia.com AZ License #SA676613000
Kristin Watson
Operations Director 602.445.1674 kristin.watson@berkadia.com AZ License #SA649645000
Value-Add Opportunity with Market Support for Elevated Finishes Featuring a full rent roll of classic units, the community presents the opportunity to fully enhance interiors, including the ability to add washer / dryers. Competitive properties provide market support for an elevated renovation package featuring vinyl plank flooring, hard surface counters, undermount sink, designer hardware, and shaker cabinets.
High Barriers to Entry Limits Supply The neighborhoods within 3 miles of Buenas Paradise Valley are largely built out and have seen virtually no supply over the past 10 years with only two new multifamily communities; Halogen and Harwood on Cave Creek built this cycle totaling 546 units. With no new projects under construction, the community offers a compelling opportunity to acquire a central, infill community facing limited existing and future supply.
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Ultra-Connected Location with Access to Largest Concentration of Jobs in Arizona Buenas Paradise Valley is located less than one mile from the SR 51 Freeway and two miles from the Loop 101 freeway, providing residents with immediate access to the region’s major employment centers. Featuring ±650,000 jobs within a 20-minute drive, Buenas Paradise Valley’s strategic location draws employment from the Deer Valley Corridor, The Desert Ridge / Mayo Clinic Corridor, Scottsdale Airpark, and the Camelback, Midtown, and Downtown employment corridors.
Proximity to TSMC’s $165B Mega Facility The introduction of Taiwan Semiconductor Manufacturing Company’s (TSMC) initial ±$65 billion investment is slated to bring 4,500 new, direct jobs and upwards of 150,000 indirect jobs, bracing the North Valley for irreversible, positive effects on the area’s burgeoning economic scene. In 2025 TSMC announced a $100B expansion including plans for three new chip fabrication plants, two advanced packaging facilities, and a major research and development center.
Expanding World-Class Heathcare Anchored by the Mayo Clinic Hospital, North Phoenix is recognized for its world-class healthcare. Expansion plans are underway for the Mayo Clinic with plans to develop a $750M biotechnology corridor bringing at least 2,000 new jobs to the submarket.
Proximity to Neighborhood Retail The community benefits from its proximity to the Bell Road corridor. As the strongest East-West corridor in the north Valley, Bell Road has drawn some of the highest retail development in the Phoenix MSA and includes over 5.5M square feet of big box retail centers with high-profile tenants including Fry’s Food & Drug, Walmart, Safeway, Target, Sam’s Club, Home Depot, Target, Planet Fitness, Sam’s Club, Kohl’s and more.
Access to Regional Lifestyle & Entertainment Buenas Paradise Valley’s convenient location provides residents with a short drive to Desert Ridge Marketplace, one of the highest grossing retail centers in Phoenix and the premier retail destination for Northeast Phoenix. The community is also only a 12-minute drive to Kierland Commons and Scottsdale Quarter, North Scottsdale’s high-end shopping districts known for world-class shopping and dining experiences.
Outdoor Recreational Destinations Ideally positioned between the Phoenix Mountain Preserves and the Sonoran Preserve, Buenas Paradise Valley’s residents are within minutes of trails for hiking, mountain biking, and horseback riding. The North Valley also offers some of Arizona’s most scenic and challenging courses for an exceptional year-round golfing experience.
