Listing ID6463859
Sold For$819,000
StatusClosed
Sold Date10/25/2022
CountyMaricopa
SubdivisionEAST OAKLAND
Year Built1944
Property TypeMultiple Dwellings
Brand new remodeled fourplex with great rents. Townhome like apartments with PRIVATE YARDS & in unit Washer/Dryers & dishwashers!! Excellent gross monthly cashflow $6,078, $72,936 yearly. 9.23% Gross Cap Rate, Tenant paid utilities on RUBS!! New HVAC in the 3 of the 4 units, new interiors with wood tile floor, showers, stainless appliances, White Quartz countertops and ceiling fans. Overhead is low. Unit mix of 2, 2 bed x1 bath, 2, 1 bed x 1 bath. This area is hot and transitioning in the Art District of Roosevelt. Hurry will not last with this strong of cashflow. Could add solar and reduce bills even more.
County
Maricopa
Property Type
Multiple Dwellings
Subdivision
EAST OAKLAND
Year Built
1944
Zoning
R5
1 Bedroom Units # Baths
1
1 Bedroom Units Avg SqFt
550
2 Bedroom Units # Baths
1
2 Bedroom Units Avg SqFt
700
Cooling
Central A/C, Electric, Ceiling Fan(s)
Cooling
yes
Heating
Electric
Heating
yes
Community Features
See Remarks
Country
US
Directions
South on 15th Avenue. West on Taylor to property on your right.
Elementary School District
Phoenix Elementary District
General Property Description Elementary School District2
Phoenix Elementary District
General Property Description High School District
Phoenix Union High School District
High School District
Phoenix Union High School District
Postal City
Phoenix
Township
1N
Water Source
City Franchise
Attached Garage
no
Construction Materials
Painted, Stucco, Block, Frame - Wood
Electric
APS
General Property Description # of Buildings
2
General Property Description Lot Size Dimensions
50'X125'
General Property Description Total # of Units
4
General Property Description Uncvrd Parking Spcs
6
Lot Size Dimensions
50'X125'
Number Of Buildings
2
Number Of Units Total
4
Open Parking Spaces
6
Parking Features
>1 Space Per Unit
Parking Total
6
Road Surface Type
Concrete, Sidewalk(s)
Roof
Composition
Sewer
Public Sewer
Buyer Agency Compensation
2.50
Mls Status
Closed
Public Survey Range
3E
Public Survey Section
6
1 Bedroom Units Avg Rent
1430
2 Bedroom Units Avg Rent
1544
Cap Rate
8.72
Disclosures
None
Electric Expense
4500
Gardener Expense
1440
Gross Income
81456
Gross Scheduled Income
72936
Listing Terms
Conventional, 1031 Exchange
Net Operating Income
72285
Operating Expense
9171
Owner Pays
Gas, Electricity, Trash Collection, Water, Sewer
Tax Annual Amount
1671
Tax Block
1
Tax Book Number
111.00
Tax Lot
21
Tax Year
2021
Tenant Pays
Gas, Electricity, Water, Sewer
Water Sewer Expense
1560
Contact - Listing ID 6463859
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
Data services provided by IDX Broker