Listing ID6512079
Sold For$565,000
StatusClosed
Sold Date5/30/2023
CountyMaricopa
SubdivisionHOMESTEAD PLACE
Year Built1931
Property TypeMultiple Dwellings
Brand new remodeled Triplex with great rents. Townhome like apartments with PRIVATE YARDS & in unit Washer/Dryers & dishwashers!! Excellent gross monthly cashflow $4,512, $54,144 yearly. 8.9% Gross Cap Rate, Tenant paid utilities on RUBS!! New HVAC in the 2 of the 3 units, new interiors with wood tile floor, showers, stainless appliances, White Quartz countertops and ceiling fans. Overhead is low. 2 covered parking spots in back. Unit mix of 1, 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 or *build more units in the back with the R-5 high density multi-family zoning.*
County
Maricopa
Property Type
Multiple Dwellings
Subdivision
HOMESTEAD PLACE
Year Built
1931
Zoning
R5
1 Bedroom Units # Baths
1
1 Bedroom Units Avg SqFt
500
2 Bedroom Units # Baths
1
2 Bedroom Units Avg SqFt
680
Cooling
Electric, Ceiling Fan(s)
Cooling
yes
Heating
Electric
Heating
yes
Community Features
No Pool
Country
US
Directions
East on Roosevelt, South on 15th ave, East on Mckinley St.
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
Master Meter
Attached Garage
no
Construction Materials
Painted, Stucco, Frame - Wood
Covered Spaces
2
Electric
APS
General Property Description # of Buildings
1
General Property Description Lot Size Dimensions
52' X 121'
General Property Description Total # of Units
3
General Property Description Uncvrd Parking Spcs
3
Lot Size Dimensions
52' X 121'
Number Of Buildings
1
Number Of Units Total
3
Open Parking Spaces
3
Parking Carport
1
Parking Features
Common
Parking Total
5
Road Surface Type
Concrete
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
1460
2 Bedroom Units Avg Rent
1594
Cap Rate
8.88
Disclosures
None
Gross Income
54144
Gross Scheduled Income
54144
Listing Terms
No Carry, Conventional, 1031 Exchange
Net Operating Income
54144
Operating Expense
543
Owner Pays
Electricity, Trash Collection, Water, Sewer, Landscaping
Tax Annual Amount
543
Tax Block
3
Tax Book Number
111.00
Tax Lot
7,8
Tax Year
2022
Tenant Pays
Trash Collection, Electricity, Water, Sewer, Cable TV
Contact - Listing ID 6512079
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
Data services provided by IDX Broker
