Listing ID6402340
Price$695,000
StatusActive
CountyMaricopa
SubdivisionDESERT COVE EXTENSION LOTS 1-4, 13-20, 29-32
Year Built1971
Property TypeMultifamily Residential
Property Sub TypeFour Plex
1538 W Peoria Ave is a garden-style apartment building built in 1971 that has been fully renovated with new vinyl-plank flooring throughout, all-new kitchen appliances, kitchen cabinets, in-suite washers & dryers, as well as updated bathrooms. It is currently fully occupied. The unit mix is (2) 1 bedroom / 1 bathroom & (2) 2 bedroom / 1 bathroom units. ~5.8% CAP rate on trailing 3 financials. Property is on a quiet street and has easy access to the I-17 Freeway. All Units are individually metered for Electricity. Property is fully occupied, drive by tours only until contract acceptance.
County
Maricopa
Property Sub Type
Four Plex
Property Type
Multifamily Residential
Subdivision
DESERT COVE EXTENSION LOTS 1-4, 13-20, 29-32
Year Built
1971
Zoning
R-3A
1 Bedroom Units
2
1 Bedroom Units: Average SqFt
625
1 Bedroom Units: Number of Baths
1
2 Bedroom Units
2
2 Bedroom Units: Average SqFt
775
2 Bedroom Units: Number of Baths
1
Appliances Included
BI Oven/Range, Disposal, Refrigerator, Washer/Dryer
Cooling
Individual
Floors
Vinyl
Heating
Individual
Interior Amenities
Unfurnished
Total Units
4
Construction
Block
Exterior Amenities
Desert Landscaping
Exterior Finish
Stucco
Lot Size Dimensions
84.94x149.38x82.03x148.56
Parking
>1 Space Per Unit
Roads/Streets
Asphalt
Roofing
Comp Shingle
Total Parking Spaces
8
Country
USA
High School District Number
205 - Glendale Union High School District
Lot Number
31
Map Code/Grid
M34
Range
3E
School District
006 - Washington Elementary District
Section
19
Township
3N
Community Amenities
No Pool
Electric
Other (See Remarks)
Entry Timestamp
2022-05-19T12:17:15+00:00
Gas
Other (See Remarks)
Marketing Name
1538 Apartments
Owner Association
No
Sewer
Sewer - Public
Vacancy Allowance
0.05
Water
City Franchise
1 Bedroom Units: Average Rent
975
2 Bedroom Units: Average Rent
1200
Adjusted Gross Income
59356
Contingency Type
UCB (Under Contract-Backups)
Financial Data Source
Projected Proforma
Gross Annual Scheduled Income
59760
Net Operating Income
42386
New Financing
Conventional, FHA
Operating Expense
1370
Other Income
2720
Owner Pays
Landscaping, Sewer, Trash Collection, Water
Sale Includes
Building(s) Only
Tax Municipality
Phoenix
Taxes
1370
Tenant Pays
Electric
Contact - Listing ID 6402340
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
Data services provided by IDX Broker
