Listing ID6390664
Price$689,000
StatusActive
CountyMaricopa
SubdivisionUNIVERSITY ADDITION
Year Built1916
Property TypeMultifamily Residential
Property Sub TypeFour Plex
One of a kind Historic Oakland charmer! Located within walking distance to the Grand Avenue of the Arts district, the light rail and Downtown Phoenix. Rising rents and max cap rates in this growing area where there is a lot of investor development. Long term renters in place. Most of the units have had upgrades within the last 3 years, including tiled showers, some new flooring, redone cabinets, new paint, some new counters and fixtures. 2 tankless gas hot water heating systems in place. Individually metered for APS! Unit mix including 2bd/1 bath unit with w/d hookup, two 1bd/1bath and one studio. Pictures are pre-occupation as units have been occupied. One lease in place and the rest of the tenants are MTM. New investor has room to increase cap!!
County
Maricopa
Property Sub Type
Four Plex
Property Type
Multifamily Residential
Subdivision
UNIVERSITY ADDITION
Year Built
1916
Zoning
R5
1 Bedroom Units
2
1 Bedroom Units: Average SqFt
469
1 Bedroom Units: Number of Baths
1
2 Bedroom Units
1
2 Bedroom Units: Average SqFt
747
2 Bedroom Units: Number of Baths
1
Appliances Included
F/S Oven/Range, Refrigerator, W/D Hookup
Average SqFt
368
Baths
1
Cooling
Central A/C, Window/Wall Unit
Efficiency Units
1
Floors
Ceramic Tile, Vinyl
Heating
Central, Natural Gas
Interior Amenities
Fire/Smoke Alarm(s)
Total Units
4
Construction
Brick, Frame - Wood
Covered Parking Spaces
2
Exterior Amenities
Fenced, RV/Boat Parking
Exterior Finish
Painted, Siding
Lot Size Dimensions
6250
Parking
1 Space/Unit, Carport, RV/Boat Parking
Roads/Streets
Asphalt
Roofing
Comp Shingle
Total Parking Spaces
4
Country
USA
Cross Street
15th Ave & Van Buren
High School District Number
210 - Phoenix Union High School District
Lot Number
8
Map Code/Grid
Q34
Range
3E
School District
001 - Phoenix Elementary District
Section
6
Township
1N
Community Amenities
No Pool
Electric
APS, Individual Meter
Entry Timestamp
2022-04-28T12:50:32+00:00
Gas
Master Meter, SW Gas
Marketing Name
n/a
Owner Association
No
Sewer
Sewer - Public
Water
City Franchise, Master Meter
1 Bedroom Units: Average Rent
863
2 Bedroom Units: Average Rent
1350
Adjusted Gross Income
46500
Annual Gas Expense
1071.13
Annual Insurance Expense
1115.4
Annual Landscape Expense
100
Annual Maintenance Expense
200
Annual Water/Sewer Expense
1797.52
Average Rent
800
Contingency Type
No
Financial Data Source
Provided by Owner
Gross Annual Scheduled Income
46500
Net Operating Income
41500.95
New Financing
Conventional, FHA, No Carry, VA
Operating Expense
4999.05
Owner Pays
Gas, Landscaping, Sewer, Trash Collection, Water
Sale Includes
Land & Building
Tax Municipality
Phoenix
Taxes
715
Tenant Pays
Cable TV, Electric
Total Monthly Rental Income
3875
Contact - Listing ID 6390664
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
Data services provided by IDX Broker
