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$1,925,000
Phoenix, AZ 85003
MLS# 6647881
1 / 9
Property Description
This great cash-flowing investment walking distance from Downtown Phoenix is one that will greatly enhance your portfolio. Comprised of two fourplexes that can qualify for residential financing, these (8) renovated 2 bed/1 bath units with in-suite laundry will be attractive to any renter. With a new roof in 2021, newer AC units, and being walking distance from the upcoming light rail system, this is an investment you will love. Listing consists of parcels 112-24-063 and 112-24-064. Do not disturb tenants. Buyer and buyers agent to verify all facts and figures.
Details
Maps
Contract Info
Current Price: $1,925,000
List Price: $1,925,000
Status: Active
List Date: 2024-01-09
Ownership: Fee Simple
Subagents: N
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
House Number: 901-905
Compass: S
Street Name: 2nd
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85003
Country: USA
County Code: Maricopa
Assessor's Map #: 24
Assessor's Parcel #: 63
Add'l Parcels: Yes
Assessor Number: 112-24-063
Legal: LOT 1 BLOCK 28 MONTGOMERY ADD BLKS 23-26, 31-34, 39-42, 47-50 MCR 000240
Tax Municipality: Phoenix
Taxes: 2070
Tax Year: 2023
Marketing Name: Elite 8
General Property Description
Lot Size Dimensions: unknown
Year Built: 1984
Uncvrd Parking Spcs: 10
Total # of Units: 8
# of Buildings: 2
Zoning: C-1
Elementary School District: Phoenix Elementary District
High School District: Phoenix Union High School District
Remarks & Misc
Cross Street: Central Avenue and Buckeye Road
Directions: From Central and Buckeye, head west to 2nd Ave and north to the property.
Geo Lat: 33.438927
Geo Lon: -112.075885
Status Change Info
Status Change Date: 2024-01-09
Legal Info
Lot Number: 1
Income & Expenses
Owner Association: No
Operating Exp: 2070
Gross Annual Sch Inc: 150000
Vacancy Allowance: 0.03
Adjusted Gross Inc: 145500
Net Operating Income: 115200
Pmt & Rate Info
Cap Rate: 5.98
Down Payment %: 25
Monthly Payments: 5000
Equity: 1925000
Showing Notification Methods
Showing Service: No Showing Service Used
2 Bedroom Units
# 2 Bedroom Units: 8
Avg Rent: 1600
Avg SqFt: 650
# Baths: 1
Property Features
Project Type: Four Plex; 5 - 12 Units
Construction: Block
Const - Finish: Stucco
Roofing: Comp Shingle
Floors: Ceramic Tile
Sale Includes: Land & Building
Community Amenities: No Pool
Appliances Included: BI Oven/Range; Refrigerator
Cooling: Electric
Water: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: SW Gas
Parking: Street Parking; >1 Space Per Unit
Roads/Streets: Asphalt
Owner Pays: Water; Trash Collection
Tenant Pays: Electric; Gas
Source of Fincl Data: Provided by Owner
Showing Notification Methods: Text
Lockbox Type: None
New Financing: CTL; Conventional; 1031 Exchange
Reports/Disclosures: Seller Prop Disc Stm
Environmental: None
Listing Office: ABI Multifamily
Last Updated: January - 09 - 2024
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