Listing ID6381966
Sold For$874,900
StatusClosed
Sold Date6/13/2022
CountyMaricopa
SubdivisionGERARDO PARK LOTS 11-39
Year Built1985
Property TypeMultiple Dwellings
Words can't do this four-plex justice. Seller has taken great pride in maintaining this building as well as renovating and updating it when possible. Let's start with ''Great Location'' and perfect rental community. All units are 2 bed, 1 bath, and 926 sqft. Fully occupied with great tenants in place. Each unit has a front deck/patio area with french doors. Downstairs units have their own private fenced yard. The building is secured and gated. Huge parking lot with 10 spaces. New roof in 2019, New exterior paint in 2022. All units have new smoke detectors, fire extinguishers, & mini-blinds. There is currently a home warranty plan that expires in June 2022 and will transfer to the new owner. Do not disturb tenants, drive by only. **See financial worksheet/rent roll attached.
County
Maricopa
Property Type
Multiple Dwellings
Subdivision
GERARDO PARK LOTS 11-39
Year Built
1985
Zoning
Multi
2 Bedroom Units # Baths
1
2 Bedroom Units Avg SqFt
926
Cooling
Heat Pump, Electric
Cooling
yes
Heating
Heat Pump, Electric
Heating
yes
Community Features
No Pool
Country
US
Directions
South on 23rd Ave from Indian School Road to 23rd Dr, turn left and property will be on the left.
Elementary School District
Alhambra Elementary District
General Property Description Elementary School District2
Alhambra Elementary District
General Property Description High School District
Phoenix Union High School District
High School District
Phoenix Union High School District
Postal City
Phoenix
Township
2N
Water Source
City Franchise
Attached Garage
no
Construction Materials
Stucco, Frame - Wood
Electric
SRP
General Property Description # of Buildings
1
General Property Description Lot Size Dimensions
IRR
General Property Description Total # of Units
4
General Property Description Uncvrd Parking Spcs
10
Lot Size Dimensions
IRR
Number Of Buildings
1
Number Of Units Total
4
Open Parking Spaces
10
Parking Features
Paved Parking, Free, >1 Space Per Unit
Parking Free
1
Parking Total
10
Road Surface Type
Asphalt, Curb(s) & Gutter(s), Sidewalk(s)
Roof
Composition
Sewer
Public Sewer
Buyer Agency Compensation
2.00
Mls Status
Closed
Public Survey Range
2E
Public Survey Section
25
2 Bedroom Units Avg Rent
991.25
Cap Rate
4.47
Current Financing
Not Applicable
Disclosures
None
Electric Expense
420
Gardener Expense
1200
Gross Income
45600
Gross Scheduled Income
48000
Insurance Expense
1643
Listing Terms
No Carry, Conventional, 1031 Exchange
Net Operating Income
39096
Operating Expense
7650
Owner Pays
Electricity, Trash Collection, Water, Sewer
Tax Annual Amount
2107
Tax Book Number
110.00
Tax Lot
31
Tax Year
2021
Tenant Pays
Electricity, Cable TV
Water Sewer Expense
2280
Contact - Listing ID 6381966
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
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