Listing ID6386789
Price$1,125,000
StatusActive
CountyMaricopa
Year Built1960
Property TypeMultifamily Residential
Property Sub TypeFour Plex
Portland is a 7-unit portfolio primely located adjacent to the heart of Downtown Phoenix off the corner of 7th Street and Portland Street. Surrounded by a plush landscape full of everything downtown has to offer - abundant employment opportunities and endless entertainment options - Portland apartments offers residents a vibrant live-work-play environment to thrive in.The Innovation Employment Corridor running along Central Avenue from Downtown Phoenix north through the midtown neighborhoods, offers access to some of the most sought-after employers in the valley such as Wells Fargo, JPMorgan Chase, and Freeport-McMoRan. Within walking distance of Portland is Roosevelt Street or ''Roosevelt Row'', which is home to numerous restaurants, cafes, and trendy nightlife destinations
County
Maricopa
Property Sub Type
Four Plex
Property Type
Multifamily Residential
Year Built
1960
Zoning
R-4
1 Bedroom Units
2
1 Bedroom Units: Average SqFt
600
1 Bedroom Units: Number of Baths
2
2 Bedroom Units
2
2 Bedroom Units: Average SqFt
850
2 Bedroom Units: Number of Baths
2
Appliances Included
F/S Oven/Range, Refrigerator
Cooling
Individual, Window/Wall Unit
Floors
Ceramic Tile
Heating
Wall Furnace
Total Units
4
Construction
Brick
Covered Parking Spaces
4
Exterior Amenities
Green Landscaping, Partially Fenced, Patio/Balcony
Exterior Finish
Brick Trim/Veneer
Lot Size Dimensions
10,000 Sq Ft
Parking
1 Space/Unit
Roads/Streets
Asphalt
Roofing
Comp Shingle
Total Parking Spaces
4
Country
USA
High School District Number
210 - Phoenix Union High School District
Lot Number
5
Map Code/Grid
Q34
School District
001 - Phoenix Elementary District
Community Amenities
No Pool
Electric
APS
Entry Timestamp
2022-04-21T08:12:12+00:00
Gas
SW Gas
Marketing Name
Portland (Portfolio)
Owner Association
No
Sewer
Sewer - Public
Vacancy Allowance
0.05
Water
Master Meter
1 Bedroom Units: Average Rent
983
2 Bedroom Units: Average Rent
1055
Adjusted Gross Income
61863.05
Annual Electric Expense
9906
Annual Insurance Expense
800
Annual Landscape Expense
1702
Annual Maintenance Expense
3000
Annual Management Expense
2571
Annual Other Expense
1500
Annual Replacement Reserves
1200
Contingency Type
No
Financial Data Source
Projected Proforma
Gross Annual Scheduled Income
63257
Net Operating Income
76506
New Financing
1031 Exchange, Conventional, No Carry
Operating Expense
22332
Other Income
1862
Owner Pays
Landscaping, Sewer, Trash Collection, Water
Sale Includes
Land & Building
Tax Municipality
Phoenix
Taxes
1653
Tenant Pays
Electric
Contact - Listing ID 6386789
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
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