Listing ID6358336
Price$1,875,000
StatusActive
CountyMaricopa
Year Built1946
Property TypeMultifamily Residential
Property Sub Type5 - 12 Units
Great opportunity to own a 7 unit apartment building in an exceptional location in Phoenix! Located in North Phoenix which is a district that mixes historic buildings with hip & trending establishments! The upgraded interior boasts fresh paint, stylish wood-like tile flooring, & sizable living/dining areas. All new dual pane windows, new doors, brand new hot water heaters. Each unit is individually metered. Renovated kitchen showcases large cabinets, lavish quartz counters, & shimmering stainless steel appliances. Bedrooms enjoy abundant natural light, upgraded ceiling fans, & walk-in closets. Complete redone Upscale bathrooms. Even smooth stucco on the outside. The 4 rear units have private backyards. There are 2 storage rooms onsite for additional income as well.Buyer to verify facts.
County
Maricopa
Property Sub Type
5 - 12 Units
Property Type
Multifamily Residential
Year Built
1946
Zoning
R-3, Phoenix
1 Bedroom Units
5
1 Bedroom Units: Average SqFt
600
1 Bedroom Units: Number of Baths
1
Appliances Included
Dishwasher, Disposal, F/S Oven/Range, Microwave, Refrigerator, Washer/Dryer
Average SqFt
550
Baths
1
Cooling
Ceiling Fan(s), Heat Pump, Individual
Efficiency Units
1
Floors
Ceramic Tile
Heating
Electric, Heat Pump, Individual
Interior Amenities
Fire/Smoke Alarm(s), Other (See Remarks), Unfurnished
Total Units
7
Construction
Block
Exterior Amenities
Cable TV Available, Landscape Wtr System, Partially Fenced, Patio/Balcony, Security Light(s), Separate Storage
Exterior Finish
Painted, Stucco
Lot Size Dimensions
irr
Parking
>1 Space Per Unit, Free, Paved Parking
Roads/Streets
Asphalt, Curb(s) & Gutter(s)
Roofing
Comp Shingle
Total Parking Spaces
10
Country
USA
Cross Street
23rd Ave and Northern
Lot Number
16
Map Code/Grid
N33
Community Amenities
No Pool
Electric
APS, Individual Meter
Entry Timestamp
2022-02-21T07:01:33+00:00
Gas
None
Marketing Name
7 units
Owner Association
No
Sewer
Sewer - Public, Sewer-In & Connected
Vacancy Allowance
0.03
Water
City Franchise, Master Meter
1 Bedroom Units: Average Rent
1700
Adjusted Gross Income
126876
Annual Insurance Expense
3500
Annual Landscape Expense
1200
Annual Maintenance Expense
2800
Annual Management Expense
6346
Annual Water/Sewer Expense
4200
Average Rent
1600
Contingency Type
No
Financial Data Source
Projected Proforma
Gross Annual Scheduled Income
129600
Net Operating Income
106916
New Financing
Conventional, No Carry
Operating Expense
19996
Other Income
1200
Owner Pays
Landscaping, Sewer, Trash Collection, Water
Sale Includes
Land & Building, Laundry Equipment, Personal Property
Tax Municipality
Phoenix
Taxes
1950
Tenant Pays
Cable TV, Electric
Total Monthly Rental Income
10800
Contact - Listing ID 6358336
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
Data services provided by IDX Broker
