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Home > For Sale > Apartment Buildings(5+ Units)
Listing ID: 5194
*** PHOENIX INCOME PROPERTY - 8.38% CAP Rate, Turn-key Operation, 100% Occupied *** $619000 For Sale We can finance it! Property Description TURN-KEY INCOME PROPERTY with GREAT RATIOS!!! - Spectacular Finanicng Options Available. This 8.38% CAP Rate property has had 100% occupancy since its owner purchased it about 4 years ago. The beautiful complex sits on just under 1 ACRE of land and features a SIX-PLEX (APN: 106-04-037-B) with 4 ASSIGNED parking spaces per unit and 2 SINGLE-FAMILY RESIDENCES (APN: 106-04-014-A) with garages built in 2006. Each unit has its own NEWER A/C unit and is METERED SEPARTELY for gas and power. The ROOF and WATER HEATERS for the six-plex were replaced with the past two years. This multiplex has been well-maintained and has EXTREMELY LOW operating and maintenance costs. ? Capitalization Rate (CAP Rate): 8.38% ? Net Operating Income (NOI): $51,860 ? Gross Rent Multiplier (GRM): 8.56 Each unit is rented for about 83% below market rates. There may be capacity to improve the CAP rate even further. Call for details. The property is located in the heart of a very busy part of Phoenix. It's immediate across the street from two elementary schools and 1/4 mile from the high school and park. And, it?s within a half mile from shopping centers and industrial complexes for local services and employment. Don't miss your opportunity to own income-generating property in Phoenix! ? GREAT RATIOS - Property is Rented at least 17% Under Market & the Numbers are Still GREAT! ? 100% OCCUPIED - Long Time Tenants Love the Area and Plan on Staying for Years to Come ? HIGH TRAFFIC AREA - Power Intersection: ? Block from 43rd AVE & Van Buren: Power Intersection ? EXCELLENT CONDITION - Typical Costly Capital Expenditures have been Made ? CAN BE MANAGED REMOTELY WITH EASE ? One of the Veteran Tenants has been Paid to Maintain the Complex ? IMMEDIATELY ACCROSS the STREET from SCHOOLS - Keeps the Vacancy Rates Low in the Area ? CLOSE TO SHOPPING, TRANSIT & EMPLOYMENT AREA - Perfectly Positioned in the South Part of Phoenix Additional information and photos are available upon request. Both parcels are being sold as one entity. *** DRIVE-BY ONLY ? Do Not Disturb Tenants ? Call Agent for Tour *** Contact Information Contact person: John Brooks Seller type: Agent/Broker Owner Finance: No MLS: 3025385 Phone: Log in to view Address: Log in to view City: Phoenix State/Province: Zip/Postal Code: 85009 Country: User Listings: Show All Ads by this member Listing Information Type: Apartment Buildings Listing Status: For Sale Price: 619000 Bedrooms: 19 Bathrooms: 11 Stories: 1 Square Feet: 7,633 Lot Size: 39,166 Age of Home: 2006 & 1963 Additional Feature: Appliances: Benefits: Garage, Carport, Near School, Near Transit Planning to Sell or Buy a Home? Compare REALTORS® First. It's Fast and Free! Front of the Property View of the Six-plex View of the Rental Houses