Listing ID6482255
Sold For$485,000
StatusClosed
Sold Date12/20/2022
CountyPinal
SubdivisionARIZONA CITY UNIT THREE
Year Built1980
Property TypeMultiple Dwellings
8-CAP w/ Amazing Remodel! NEW ROOF!
Fully occupied triplex w/ seasoned tenants, all units recently renovated & well maintained earning $4,370/mo. You won't find a higher CAP rate for such an upgraded property!
Arizona City projected to be among highest appreciating markets in AZ, minutes from new Lucid, Nikola, Kohler & other manufacturers, who are investing $3B+ and 8,000+ new jobs in the immediate area. Stable tenant base. Low crime.
Tremendous cashflow investment with A+ management in place if you choose to keep them. Convert unused garage into additional 1BR unit for value add opportunity. Transferrable home warranty from owner/agent.
County
Pinal
Property Type
Multiple Dwellings
Subdivision
ARIZONA CITY UNIT THREE
Year Built
1980
Zoning
CR-5
1 Bedroom Units Avg SqFt
672
3 Bedrooms Units # Baths
2
3 Bedrooms Units Avg SqFt
1344
Cooling
Central A/C, Wall/Window Unit(s)
Cooling
yes
Heating
Heat Pump
Heating
yes
Community Features
No Pool
Country
US
Directions
SUNLAND GIN TO MONACO, TURN EAST. ON CORNER OF CHERRY HILLS AND MONACO
Elementary School
Toltec Elementary School
Elementary School District
Toltec Elementary District
General Property Description Elementary School
Toltec Elementary School
General Property Description Elementary School District2
Toltec Elementary District
General Property Description High School
Casa Grande Union High School
General Property Description High School District
Casa Grande Union High School District
General Property Description Jr High School
Toltec Elementary School
High School
Casa Grande Union High School
High School District
Casa Grande Union High School District
Middle Or Junior School
Toltec Elementary School
Postal City
Arizona City
Township
08S
Water Source
City Franchise
Attached Garage
no
Construction Materials
Brick Veneer, Frame - Wood
Covered Spaces
2
Electric
APS
Garage
yes
General Property Description # of Buildings
1
General Property Description Flood Zone
No
General Property Description Lot Size Dimensions
74X135X11
General Property Description Total # of Units
3
General Property Description Uncvrd Parking Spcs
3
Lot Size Dimensions
74X135X11
Number Of Buildings
1
Number Of Units Total
3
Open Parking Spaces
3
Parking Features
Paved Parking, 1 Space/Unit, Street Parking
Parking Garage
1
Parking Total
5
Road Surface Type
Asphalt
Roof
Composition, Built-Up
Sewer
Private Sewer
Buyer Agency Compensation
2.50
Mls Status
Closed
Public Survey Range
07E
Public Survey Section
07
1 Bedroom Units Avg Rent
1150
3 Bedrooms Units Avg Rent
1652
Cap Rate
8.01
Current Financing
Not Applicable
Disclosures
Seller Prop Disc Stm
Gross Income
4151.5
Gross Scheduled Income
4370
Insurance Expense
1271
Listing Terms
CTL, Conventional, 1031 Exchange, FHA, VA Loan
Maintenance Expense
2050
Net Operating Income
38826
Operating Expense
10992
Owner Pays
Water, Sewer
Professional Management Expense
5079
Tax Annual Amount
1057
Tax Book Number
408.00
Tax Lot
1599
Tax Year
2022
Tenant Pays
Electricity, Cable TV
Trash Expense
648
Water Sewer Expense
887
Contact - Listing ID 6482255
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
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