Listing ID6400476
Price$800,000
StatusActive
CountyMaricopa
SubdivisionWALLACE TRACT
Year Built1980
Property TypeMultifamily Residential
Property Sub Type5 - 12 Units,Four Plex
To be sold with 1518 E Fillmore Street ($800K per fourplex). The property consists of two identical fourplexes (8 units) that were built in 1980. Each unit is a 2 bedroom / 1 bathroom approximately 650SF per unit. Each unit is individually metered for electricity. 16 Street Apartments features a value-add component through interior and exterior renovations to achieve higher rents or run as-is with bumping rents to market rate. It is just located off 16th Street and Fillmore within a 10 minute bike ride to Arizona State University Downtown Campus, Roosevelt Row and Banner University Medical Center. Based on its positioning in the competitive landscape of the submarket and the area's ongoing redevelopment efforts.
County
Maricopa
Property Sub Type
5 - 12 Units,Four Plex
Property Type
Multifamily Residential
Subdivision
WALLACE TRACT
Year Built
1980
Zoning
R-5
2 Bedroom Units
4
2 Bedroom Units: Average SqFt
650
2 Bedroom Units: Number of Baths
1
Appliances Included
BI Oven/Range, Disposal, Microwave, Refrigerator
Cooling
Individual
Floors
Other
Heating
Individual
Interior Amenities
Fire/Smoke Alarm(s), Unfurnished
Total Units
4
Construction
Frame - Wood
Exterior Amenities
Desert Landscaping
Exterior Finish
Stucco
Lot Size Dimensions
71.40x133.74x9.96x64.74x140.29
Parking
>1 Space Per Unit
Roads/Streets
Asphalt
Roofing
Comp Shingle
Total Parking Spaces
13
Country
USA
High School District Number
210 - Phoenix Union High School District
Lot Number
10
Map Code/Grid
Q34
Range
3E
School District
001 - Phoenix Elementary District
Section
4
Township
1N
Community Amenities
No Pool
Electric
Other (See Remarks)
Entry Timestamp
2022-05-16T12:09:37+00:00
Gas
Other (See Remarks)
Marketing Name
16th Street Apartments
Owner Association
No
Sewer
Sewer - Public
Vacancy Allowance
0.04
Water
City Franchise
2 Bedroom Units: Average Rent
843
Adjusted Gross Income
61900.8
Contingency Type
No
Financial Data Source
Projected Proforma
Gross Annual Scheduled Income
62160
Net Operating Income
46639
New Financing
Conventional
Operating Expense
1233
Other Income
2320
Owner Pays
Landscaping, Sewer, Trash Collection, Water
Sale Includes
Building(s) Only
Tax Municipality
Phoenix
Taxes
1233
Tenant Pays
Electric
Contact - Listing ID 6400476
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
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