Listing ID6361976
Price$1,900,000
StatusActive
CountyPinal
SubdivisionBreezeway Apartments / AMD TOLTECT/ARIZONA UNIT TWENTY TWO
Year Built1974
Property TypeMultifamily Residential
Property Sub Type5 - 12 Units
Pride of ownership shows in every aspect of this well maintained property. The long term owners have taken great care in the renovation and modernization of the complex. Five units have undergone recent full renovations which included new carpet and paint, kitchen and bath updates and new fixtures, ceiling fans and added interior safety features. Two additional units also underwent previous renovations. The decisions the owners made on capital improvements shows the vested interest they had in making the complex truly turn key for the next owner. The units have been fully connected to the city sewer system - no more septic tank headaches plus a recent land survey was done to provide peace of mind on the lot lines. They have installed new concrete sidewalks, new roofs over several units, the laundry building and carports, recent exterior painting for both the complex and laundry building, new mailboxes and motion security lighting for the common areas. The exterior grounds have been transformed into a welcoming community gathering place with low maintenance trees, soil leveling and additional rock and gravel to help with erosion and overall aesthetics. The curb appeal of the complex attracts a long wait list of potential tenants.
The location is nestled in the no longer sleepy I-10 / I-8 tech corridor. The complex is near major job creators such as Nicola, Lucid, Kohler and SRP's solar power plant. The municipality of Eloy prides themselves on their well managed water and wastewater long term resource planning and easy access to rail and highway transportation. These things, plus the growing need for developable land has turned Eloy into a hot commodity for both American and foreign companies needing room to expand.
The residential building right near the complex is further proof of a growing community. Robson Resorts and Century Homes are developing in the area currently and land around Breezeway Apartments is going fast.
For additional information on the units, rental rates and cap rate / expenses, please view the documents tab or contact lister.
Drive by only. Do not disturb the tenants.
County
Pinal
Property Sub Type
5 - 12 Units
Property Type
Multifamily Residential
Subdivision
Breezeway Apartments / AMD TOLTECT/ARIZONA UNIT TWENTY TWO
Year Built
1974
Zoning
R4HD
2 Bedroom Units
7
2 Bedroom Units: Average SqFt
866
2 Bedroom Units: Number of Baths
1
3 Bedrooms Units
1
3 Bedrooms Units: Average SqFt
1300
3 Bedrooms Units: Number of Baths
2
Appliances Included
Dishwasher, F/S Oven/Range, Microwave, Refrigerator
Cooling
Electric
Floors
Carpet, Ceramic Tile, Vinyl
Heating
Electric
Interior Amenities
Fire/Smoke Alarm(s), Vertical Blinds
Total Units
8
Construction
Block
Covered Parking Spaces
10
Exterior Amenities
Cable TV Available, Desert Landscaping, Security Light(s), Separate Storage
Exterior Finish
Painted, Stucco
Lot Size Dimensions
203 X 154
Parking
1 Space/Unit, Add'l Parking Avail, Carport, Free
Roads/Streets
Asphalt, Dedicated Street
Roofing
Tile
Total Parking Spaces
25
Country
USA
Cross Street
SHEDD & PALM CIRCLE
Elementary School
Toltec Elementary School
High School
Casa Grande Union High School
High School District Number
0082 - Casa Grande Union HS District - Pinal
Jr. High School
Toltec Elementary School
Lot Number
1
Map Code/Grid
Y43
Range
07E
School District
0022 - Toltec Elementary District - Pinal
Section
27
Township
07S
Community Amenities
No Pool
Electric
APS
Entry Timestamp
2022-03-01T09:09:41+00:00
Gas
None
Marketing Name
Casa Grande / Eloy Coorid
Owner Association
No
Sewer
Sewer - Public, Sewer-In & Connected
Vacancy Allowance
0.04
Water
City Franchise
2 Bedroom Units: Average Rent
725
3 Bedrooms Units: Average Rent
1150
Adjusted Gross Income
78362.88
Annual Electric Expense
551
Annual Insurance Expense
1900
Annual Landscape Expense
1000
Annual Maintenance Expense
3500
Annual Water/Sewer Expense
2900
Contingency Type
No
Financial Data Source
Provided by Owner
Gross Annual Scheduled Income
78628
Net Operating Income
66834
New Financing
1031 Exchange, Conventional
Operating Expense
12494
Other Income
3000
Owner Pays
Landscaping, Trash Collection, Water
Sale Includes
Land & Building
Tax Municipality
Eloy
Taxes
2643
Tenant Pays
Cable TV, Electric
Contact - Listing ID 6361976
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
Data services provided by IDX Broker
