What areas of town are predicted to see increased gentrification in 2018? (Phoenix: real estate market, rental)

[grmi66]

I live in Coronado and our neighborhood got discovered the past few years. Houses that required some work sold for $175,000 three years ago when we moved in. Now those houses are going for $300,000 and require a minimum of $100,000 to fix up. We are ten minutes from downtown and ten minutes from the airport. From what I've seen chatting with our new neighbors, quite a few people telecommuting to their office in California who don't bat an eye dropping $500-$600,000 on a 900 SF house with a tiny yard.

Think Sunnyslope has a potential to explode. An easy commute to the central city but minutes to hiking trails if you are outdoorsy. If I were to stay in Phoenix I'd be looking hard in the Sunnyslope area. Almost made an offer a few months ago on a place that was only $220,000 and a two minute walk to the Phoenix Mountain Preserve.

[YAZ]

Originally Posted by grmi66

Think Sunnyslope has a potential to explode. An easy commute to the central city but minutes to hiking trails if you are outdoorsy. If I were to stay in Phoenix I'd be looking hard in the Sunnyslope area. Almost made an offer a few months ago on a place that was only $220,000 and a two minute walk to the Phoenix Mountain Preserve.

I know. I've been eyeballin' Sunnyslope since I came to AZ in 2004. Beautiful homes in the hills and some sexy condos in the area. Get a good deal on an old bungalow or duplex and it just might pay off. As an investment or a nice place to live.....

[WSPHXPELON]

I agree that Sunnyslope will be one of the areas that will Gentrify within maybe the next decade or so. Personally I believe that it will hit the neighborhoods with a closer vicinity to downtown first but I easily could see a renewal all the way up Central Avenue all the way up through Sunnyslope.

[ShampooBanana]

If this happens, and it's already got a lot of support, then South Phoenix is going to explode: https://www.azcentral.com/story/news...esa/915158001/

Also, I agree with Sunnyslope. The areas south of the canal are already gentrified or in the process of it, but I think it's going to start spilling over pretty soon. There are some homes with loads of character to be had in there, and a lot on the mountainsides with some pretty sweet views. For that matter, I can see the 7th St commercial renaissance extending further north and also onto streets like Northern, Dunlap, Hatcher, and up Cave Creek Road.

[SK115]

Here is an article from 2014 in the New Times. Would you say they were accurate in the past 3 years?

5 Up-and-Coming Phoenix Neighborhoods | Phoenix New Times

[WSPHXPELON]

Originally Posted by SK115

Here is an article from 2014 in the New Times. Would you say they were accurate in the past 3 years?

5 Up-and-Coming Phoenix Neighborhoods | Phoenix New Times

I would say Yes, but with a caveat: IMO, at the time that article was written, the gentrification of those areas had already begun. But yes, those areas are continuing to get nicer and RE prices in those areas are continuing to rise.

To really maximize profit from buying in an area ripe for gentrification, you must be the first to buy. Which of course means buying when the neighborhood is still horrible. Once people with money catch on and start buying you experience a "snowball effect" and RE prices soar as your profits diminish. That's why I think Central Park and Grant Park would be excellent for someone who is looking to get in on the ground floor.

[49erfan916]

Originally Posted by YAZ

I know. I've been eyeballin' Sunnyslope since I came to AZ in 2004. Beautiful homes in the hills and some sexy condos in the area. Get a good deal on an old bungalow or duplex and it just might pay off. As an investment or a nice place to live.....

I was doing some casual browsing on zillow and that was one of the places that caught my interest. Houses over there seem really reasonable, too.

[ElleTea]

This is quite the turnaround from threads a couple of years ago where people ranked Sunnyslope the same as Maryvale and called it a "scary area to avoid"!

[grmi66]

The thing with the 'Slope that you need to watch for is the high concentration of multi-tenant dwellings. Some blocks are better than others. Plus the mountains screen out some of the crime. Tweekers don't want to ride their bike uphill to hit some of the upper elevation neighborhoods of Sunnyslope. But go two blocks downhill on the same street and it's like being in Maryvale.

[new2colo]

Originally Posted by grmi66

The thing with the 'Slope that you need to watch for is the high concentration of multi-tenant dwellings. Some blocks are better than others. Plus the mountains screen out some of the crime. Tweekers don't want to ride their bike uphill to hit some of the upper elevation neighborhoods of Sunnyslope. But go two blocks downhill on the same street and it's like being in Maryvale.

Judging from the number of transients around the Greenway Square neighborhood, I would argue that the "mountains" do little to block out crime and tweekers.