The Sevens @ Melrose
Distinctive Luxury Townhome Community in the Heart of Central Phoenix
Marketing description
The Sevens @ Melrose is a distinctive luxury townhome community located in the heart of Central Phoenix, within walking distance of the vibrant Melrose District along 7th Avenue. Completed in 2023, the property features spacious two-bedroom, two-and-a-half-bath townhomes averaging 1,325 square feet, each with a direct-access two-car garage and private backyard.
Situated within a quiet residential neighborhood, the community benefits from an impressive Walk Score of 80 and Bike Score of 91, providing residents convenient access to the area’s popular restaurants, coffee shops, art galleries, boutiques, and nightlife throughout the Melrose District, Uptown Plaza, and the Camelback Corridor. Residents are also within walking distance of the Valley Metro Light Rail on Camelback Road, offering excellent connectivity throughout the metropolitan area.
The property’s highly infill location provides exceptional access to some of Phoenix’s largest employment centers, including Downtown Phoenix (3.8 miles) and the Biltmore/Camelback Corridor (3.7 miles). The North Central employment corridor supports more than 50,000 jobs, while the Camelback/Biltmore employment center contributes over 30,000 jobs, both located within a short 5-to-15-minute commute. The surrounding area is supported by strong demographics, with average household incomes of approximately $97,000 and $108,000 within a one- and three-mile radius, respectively.
Additionally, Central Phoenix serves as one of Arizona’s premier healthcare hubs, anchored by major employers including Banner Health, Phoenix Children’s, Dignity Health, and the Carl T. Hayden VA Medical Center, collectively supporting more than 30,000 healthcare-related jobs.
Combining modern construction, luxury townhome amenities, exceptional walkability, and proximity to major employment and lifestyle destinations, The Sevens @ Melrose offers a unique opportunity to invest in a highly sought-after infill submarket characterized by strong demographic fundamentals and headwinds for new multifamily supply.
Investment highlights
Exclusive Infill Location
- Highly constrained submarket with limited future housing supply due to infill land scarcity, historic neighborhood overlays, and restrictive single-family zoning.
- Exceptional walkability and connectivity with an 80 Walk Score and 91 Bike Score.
- Affluent surrounding demographics with average household incomes of approximately $97,000 within a 1-mile radius and $108,000 within a 3-mile radius.
- Minutes from the vibrant Melrose District and the premier dining, shopping, and entertainment offerings of Uptown Plaza.
- Less than four miles from both Downtown Phoenix and the Biltmore/Camelback Corridor, two of the Valley’s largest employment and lifestyle destinations.
- Walking distance to the Valley Metro Light Rail, providing convenient access throughout the Phoenix metropolitan area.
Luxury Townhome Residences
- Purpose-built luxury townhomes offering a homeownership-quality living experience within a professionally managed rental community.
- Spacious floor plans averaging 1,325 square feet, with every residence featuring a direct-access two-car garage.
- Select residences equipped with in-garage EV charging capability.
- Modern design featuring 10-foot ceilings and open-concept living spaces.
- High-end interior finishes including custom cabinetry, quartz countertops, stainless steel appliances, full-size washers and dryers, oversized walk-in closets, and private fenced backyards.
- Integrated smart-home package featuring keyless entry, Bluetooth-enabled garage access, Nest thermostats, and video doorbells.
Favorable Market Fundamentals
- Elevated mortgage rates have significantly increased the cost of homeownership, with the monthly cost of a median-priced home in the Phoenix MSA exceeding $3,800 per month, including principal, interest, taxes, insurance, and a 10% down payment.
- Rising construction and financing costs continue to challenge the feasibility of new residential development, limiting future supply growth and supporting long-term rent appreciation.
- New for-rent townhome communities in this location remain exceptionally rare with very limited direct competition and a lack of infill land sites.
- Strong population and employment growth continue to support renter demand throughout Central Phoenix and the broader metropolitan area.
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