A newly built build-to-rent (BTR) townhome community in Avondale has sold for $30.1 million in an all-cash transaction. Here’s what Arizona investors should know:
Deal Snapshot
- 70-unit townhome community
- Located at 13025 W. Thomas Road in Avondale
- Built in 2025 on 5.77 acres
- Sold for $30.1M (all cash)
- 93% occupied at time of sale
- Average unit size: 1,677 SF
- Monthly rents: $2,294 – $2,583
Buyer & Seller
- Seller: Mesa-based developer Bela Flor Communities
- Buyer: Avalon LVP LLC
- Marks buyer’s 4th acquisition in Metro Phoenix since 2020
- Buyer now controls 425 units in Arizona
Bigger Market Context
- Metro Phoenix has over 29,000 existing BTR and townhome rental units
- Phoenix home prices have climbed more than 55% since December 2019
- Elevated mortgage rates and insurance costs continue pushing renters toward BTR
- BTR appeals to:
- Downsizing baby boomers
- New-to-market residents
- Transient workforce (travel nurses, military, etc.)
Investor Takeaways for Maricopa & Pinal County
- Institutional capital remains active in the West Valley.
- Stabilized BTR assets are commanding strong pricing.
- High occupancy at lease-up reinforces demand for low-maintenance rental housing.
- Elevated homeownership costs continue supporting rental demand.
- Phoenix remains one of the deepest BTR markets in the country.
For single-family investors, this reinforces a key theme: professionally managed, well-positioned rental product continues to attract both tenants and buyers.