17049 W Alice Ave
Waddell, AZ 85355
32
Units
2022
Built
2,046
Avg. Unit Size
$2,501
Avg. Market Rents
The Opportunity
Northern Farms is a newly constructed, 32-home, true detached Single-Family for Rent community located in Waddell, Arizona, one of Phoenix’s fastest-growing suburban submarkets. This community offers investors the rare opportunity to acquire a high-quality single-family rental portfolio built by an award-winning home developer in 2022.
Situated along the Loop 303 employment corridor, Northern Farms is strategically positioned to benefit from exceptional regional growth, rising household incomes, and sustained housing demand across the West Valley. The community is near TSMC’s $165B semiconductor campus, providing residents with access to high-profile employment opportunities.
Northern Farms offers spacious three-, four- and five-bedroom homes averaging 2,046 square feet. The homes feature high-end finishes including quartz countertops, luxury vinyl flooring, stainless steel appliances, white shaker-style cabinets, dual-pane windows, and large kitchen islands. Bathrooms include walk-in showers with glass doors, double vanity sinks, and walk-in closets with built-in shelving. Additional highlights include laundry rooms with full-sized washers/dryers, two-car garages, and private AstroTurf backyards.
Community amenities include landscaped walking trails, a picnic pavilion, playground, and proximity to the submarket’s top retail centers. The community’sw design emphasizes a low-density, family-oriented environment with proximity to neighborhood parks and trails, creating lasting appeal for long-term renters and supporting lower turnover rates.
Northern Farms offers a flexible exit strategy, allowing investors to realize value through multiple paths, whether selling the portfolio as a whole or individually at retail pricing. The community is professionally managed and stabilized, ensuring operational efficiency with minimal near-term maintenance.
Build-to-Rent communities like Northern Farms combine the efficiency of traditional multifamily assets with the appeal of single-family living, offering superior functionality, higher renter demand, elevated rents, and occupancy rates. Positioned to capitalize on the region’s dynamic growth, Northern Farms presents a unique investment opportunity in a thriving market.
INVESTMENT
HIGHLIGHTS
Single-Family Homes with Curated Interiors & Access to Community Amenities
Northern Farms delivers newly built, detached single-family rentals with spacious three-, four-, and five-bedroom floorplans averaging 2,046 square feet. Residents enjoy high-end finishes, including quartz countertops, stainless steel appliances, private synthetic turf backyards, and attached two-car garages, plus community amenities like landscaped walking trails, a picnic pavilion, and a playground.
Build-to-Rent: Driving Demand, Premium Rents, and Strong Returns
Purpose-built for today’s discerning renters, Northern Farms combines the operational efficiency of multifamily assets with the premium appeal of single-family living. This BTR model achieves elevated rents and lower turnover costs, and offers long-term investors strong, stable cash flow supported by high renter demand.
SF-D Outperforms Conventional Multifamily
Single-family detached homes at Northern Farms achieve rents 34% higher than garden-style apartments and 9% higher than cottage-style BTR, driven by larger layouts, added privacy, and longer resident tenure with stabilized occupancy rates exceeding conventional multifamily averages.
High Mortgage Rates and Limited Resales Bolster Built-to-Rent Demand
Rising interest rates and elevated home prices have widened the affordability gap for homeownership, strengthening demand for single-family rentals. At Northern Farms, market rents provide a monthly discount to the cost of owning, making it an attractive option for well-qualified renters unable or unwilling to buy.
Exceptional Demographics: Served by a Highly Rated School District
The immediate area features an average household income of nearly $150,000, with 67% white-collar employment and impressive educational attainment. Northern Farms is surrounded by top-rated public and charter schools, enhancing its appeal to families and underpinning a stable, high-quality renter base.
Top Growth City Fueled by Economic Development & Net Migration Accelerate BTR Investment Opportunity
Phoenix’s West Valley is one of the nation’s fastest-growing regions, driven by massive employment investments like TSMC’s $165 billion semiconductor campus and robust job creation
Photo Gallery
The Location
Investment Sales
Ryan Boyle
Senior Director
602.510.2972
[email protected]
AZ License #SA661064000
Mark Forrester
Senior Managing Director
602.526.4800
[email protected]
AZ License #BR006620000
Andrew Curtis
Managing Director
602.571.4190
[email protected]
AZ License #SA67661300
Mortgage Banking
Jeremy Hammill
Vice President – Originations
602.997.3806
[email protected]
Scott Holland
Senior Managing Director
602.997.3802
[email protected]
Phoenix Office
2425 E Camelback Rd
Ste 960
Phoenix, AZ 85016
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.
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