Listing ID6317122
Sold For$1,500,000
StatusClosed
Sold Date12/21/2021
CountyMaricopa
Year Built1984
Property TypeMultiple Dwellings
Come see this completely renovated, 8 unit cash-flowing property (two separate parcels - residential financing available). Selling at over a 5 Cap on actuals and being located in one of the most high demand neighborhoods in Phoenix, this won't last long. These 2 bed/1 bath units have been fully renovated with laundry hookups. This neighborhood is on fire with new build construction, the expansion of the light rail system, and the Alta Warehouse project just feet away. Walk into downtown and enjoy all of the wonderful dining and entertainment options that make Phoenix so great. Residential Financing available. New roof on 905. 6 of 8 AC units have been replaced recently, the other two are in good, working condition. This stabilized asset is one you won't want to miss.
County
Maricopa
Property Type
Multiple Dwellings
Year Built
1984
Zoning
C-1
2 Bedroom Units # Baths
1
2 Bedroom Units Avg SqFt
650
Cooling
Electric
Cooling
yes
Heating
Electric
Heating
yes
Community Features
No Pool
Country
US
Directions
North on 2nd Avenue from Buckeye. Property on the east side of the street.
Elementary School District
Phoenix Elementary District
General Property Description Elementary School District2
Phoenix Elementary District
General Property Description High School District
Phoenix Union High School District
High School District
Phoenix Union High School District
Postal City
Phoenix
Water Source
City Franchise
Attached Garage
no
Construction Materials
Stucco, Frame - Wood
Electric
APS
General Property Description # of Buildings
2
General Property Description Lot Size Dimensions
unknown
General Property Description Total # of Units
8
General Property Description Uncvrd Parking Spcs
10
Lot Size Dimensions
unknown
Number Of Buildings
2
Number Of Units Total
8
Open Parking Spaces
10
Parking Features
>1 Space Per Unit, Street Parking
Parking Total
10
Road Surface Type
Asphalt
Roof
Composition
Sewer
Public Sewer
Buyer Agency Compensation
2.00
Mls Status
Closed
2 Bedroom Units Avg Rent
1150
Cap Rate
6.21
Disclosures
Seller Prop Disc Stm
Gross Income
101326.2
Gross Scheduled Income
104460
Listing Terms
CTL, Conventional, 1031 Exchange
Net Operating Income
91600
Operating Expense
1980
Owner Pays
Trash Collection, Water, Sewer
Tax Annual Amount
1980
Tax Book Number
112.00
Tax Lot
1
Tax Year
2021
Tenant Pays
Electricity
Contact - Listing ID 6317122
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
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