Listing ID6388466
Price$1,500,000
StatusActive
CountyMaricopa
Year Built1950
Property TypeMultifamily Residential
Property Sub Type5 - 12 Units
Rare opportunity to acquire this well-performing asset situated just 1/2 mile from major manufacturing facilities. Flat roofs were recoated in 2021. Pitched roofing was completed by a licensed roofer in 2021. Several new water heaters, landscape rock, and brand new exterior paint! 1,340 acre industrial park, Woolf Logistics Industrial Campus & Red Bull manufacturing facility nearby. Almost no competition at these rental price points! Main ranch house is 2 bed 1 bath with large living room. Excellent mix of 1 bedroom and studios. All units are air conditioned and tenant friendly. Always 100% occupied with a waitlist makes this property easy to rent when a tenant relocates. The units have been upgraded at various times with plumbing, wiring, flooring, fixtures and cabinetry. On site laundry
County
Maricopa
Property Sub Type
5 - 12 Units
Property Type
Multifamily Residential
Year Built
1950
Zoning
R43
1 Bedroom Units
4
1 Bedroom Units: Number of Baths
1
2 Bedroom Units
1
2 Bedroom Units: Number of Baths
1
Appliances Included
F/S Oven/Range, Refrigerator, Washer/Dryer
Baths
1
Cooling
Ceiling Fan(s), Central A/C, Electric, Heat Pump, Individual, Window/Wall Unit
Efficiency Units
4
Floors
Carpet, Ceramic Tile, Vinyl
Heating
Central, Electric, Individual
Interior Amenities
Fire/Smoke Alarm(s), Unfurnished
Other Type
House + Rental Units
Total Units
9
Construction
Block
Covered Parking Spaces
4
Exterior Amenities
Desert Landscaping, Landscape Wtr System, Partially Fenced, Security Light(s), Separate Storage
Exterior Finish
Painted, Stucco
Lot Size Dimensions
irregular
Parking
>1 Space Per Unit, RV/Boat Parking
Roads/Streets
Dirt, Gravel
Roofing
Built-Up, Comp Shingle, Foam, Rolled, Tile
Total Parking Spaces
29
Country
USA
Cross Street
Litchfield Rd & Peoria
Elementary School
Luke Elementary School
High School
Dysart High School
High School District Number
089 - Dysart Unified District
Jr. High School
Luke Elementary School
Map Code/Grid
M28
Range
1W
School District
089 - Dysart Unified District
Section
28
Township
3N
Community Amenities
Barbecue, No Pool
Electric
APS
Entry Timestamp
2022-04-23T23:02:09+00:00
Gas
None
Marketing Name
na
Owner Association
No
Sewer
Septic Tank
Vacancy Allowance
0.05
Water
Domestic Well
1 Bedroom Units: Average Rent
925
2 Bedroom Units: Average Rent
1275
Adjusted Gross Income
96045
Annual Electric Expense
976
Annual Insurance Expense
2569
Annual Maintenance Expense
6129
Annual Management Expense
3000
Annual Trash Expense
1462
Average Rent
875
Contingency Type
No
Financial Data Source
Books Shwn Accpt Ofr, Projected Proforma, Provided by Owner
Gross Annual Scheduled Income
99900
Net Operating Income
77035
New Financing
1031 Exchange, Conventional, Seller May Carry, Wraparound
Operating Expense
15491
Other Income
1200
Owner Pays
Landscaping, Sewer, Trash Collection, Water
Sale Includes
Land & Building, Laundry Equipment, Personal Property
Special Listing Conditions
Owner/Agent
Tax Municipality
Maricopa - COUNTY
Taxes
1355
Tenant Pays
Electric
Total Monthly Rental Income
7370
Contact - Listing ID 6388466
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
Data services provided by IDX Broker
