5 DUPLEXES IN TERRIFIC CONDITION, ALL OCCUPIED...$656 AVG. PER MONTH; TENANTS HAVE BEEN THERE FOR 11/2 - 15 YEARS.PROPERTY SEEMS TO BE UNDER-RENTED BY 10-15% PER RECENT COMPARABLES (BUYER OR HIS OR HER AGENT TO DETERMINE ON THEIR OWN IF OF IMPORTANCE TO THEM).
Investor's delight! Can buy 1-14 units. Nice package of 14 condos available for $26-30,000 each, can be purchased individually. All 14 units are tenant-occupied and 7 out of 14 are TWO-BEDROOM UNITS! They have a cap rate of 8.0%, generating a net operating income of $30,999. Rents average $616/month/unit. HOA dues average $265/month/unit, because utilities are included in the rent for the tenants, but there is plenty of cash flow in these condos, with a 8.0% cash flow return. Onsite management available or you can choose your own property manager that is offsite.This is a beautiful well-run, well-maintained complex. Must be a CASH purchase - we know of no banks willing to offer long term conventional financing on a condo complex dominated by investors.
Great Investment Opportunity ! Two(2)UNITS 4 BED/2 BATH. EACH UNIT LEASED FOR $950/MONTH. $1,900 TOTAL RENT COLLECTED MONTHLY. Two completely remodeled units including new cabinets, laminate flooring, new paint, windows, hardware and light features.1,275 sq. ft. per unit. total 2,550SF. Units are individually metered for electric. Water meter shared. Landlord pays for water, garbage, and sewer. Units were retro-fitted w/an attic foil which makes cooling and heating more affordable. Water heaters are on timers, to take an advantage of lower power rates. Inside laundry. Private storage units in separately fenced backyards. Great Central Phoenix location. Amount of rent is approximately $23,000 annually. Newest Duplex in the area. A lot of private parking. Rents very fast. 100% Occupied !!!
Fully Occupied - Low-Maintenance Tri-Plex across from Washington Elementary School - Great Location For Income Property!! New roof and AC units in 2011, freshly painted exterior in 2014, all units were remodeled in 2008. Units are all 2 Bed - 1 Bath. Units rent for $645 - $645 and $625 and have galley kitchen, newer tile, W/D hookups and large grassy backyards. Ample parking with small lot & on-street parking available. Additional financial data to be provided to buyer.
Duplex that is rented please do not disturb tenants. Said lot offers additional growth and has ingress or egress off of Brown Street on the North side. Potential is great. Could add upward and seller has floor plans for such. Also, could build on the north side of the vacant lot additional home or duplex. Great investment for an investor. Please do all research on said parcel and note all figures and measurements are approximate. Buyer to verify measurements and lot usage during 10 day inspection period.
This is a great investment property. Has 2- 2 bedroom, 1 bath units and has 1 large studio unit that has not yet gotten occupancy from the city. New owner can turn it into a 1 bedroom, 1 bath or studio unit for additional income. Units rent for $600 a month, 1 is rented and the other just became vacant. The building has newer electric panels and meters, newer A/C units, newer roof, newer flooring, and much much more. Drive by only. Tenants rights
TENANT RIGHTS**** DO NOT DISTURB TENANTS****NO SIGN ON PROPERTY**** All Units 1 Bed/ 1 Bath. Laundry and Storage Facility on site. 2 Covered Parking Spaces for Property, plus 2 additional. Great, Quiet North Phoenix Neighborhood. Beautiful Mountain Views.
Great Investment opportunity. Cash flow currently is approx $1700 per month. The main house was built in 1991 and has stucco exterior and approx 1100 SF 2 bedroom with some tile flooring a (plus Covered patio and storage unit.) The other building is a single family home divided into two units. One is 1 bedroom 1.5 bath plus bonus room, approx 600 SF.with an original retro kitchen. The other unit is a 1 bedroom 1 bath cute with newer tile flooring and updated stainless stove approx 500 SF. (2nd building was built in approx 1960) All 3 are on separate utility meters. The lot to the east is part of the parcel totaling approx. 10,000 SF. (Potential for addition.) Landlord currently pays approx $180 per month for water sewer trash.
GREAT INVESTMENT OPPORTUNITY! FRONT HOUSE IS A TWO BEDROOM ONE BATH. THIS UNIT HAS NEWER WINDOWS AND 2 NEW AC UNITS (JAN '14). HAS HARDWOOD FLOORS, FRIDGE AND SPLIT BEDROOMS. SMALL REAR HOUSE IS ONE BEDROOM ONE BATH, 1 AC UNIT (APPROX 5 YEARS OLD), WALL HEATER & 3 GOOD SIZE SHEDS WITH A ONE CAR DETACHED CARPORT PLUS EXTRA UNCOVERED PARKING.SEPARATE ELECTRIC. NEEDS SOME UPDATING AND TLC.PARTIAL REMODEL DONE APPROX. 8 YEARS AGO.ENTRY FOR BOTH HOUSES OFF OF 5TH STREET. DO NOT DISTURB TENANT IN 1 BED/1BATH UNIT. PROPERTY Sold 'AS IS' WITHOUT WARRANTY.OWNER HAS BEEN PAYING 1st $40 OF WATER. TENANT PAYS ELECTRIC.
There is 3 building on one lot. one building has three bedrooms, One building has one bedroom, and one building is a studio. Most of AC and cooling was replaced within 2 years. Water Pipe has been replaced. Sewer line was fixed two years ago. All water, electricty and sewer lines running good . There is a big storage unit at the backyard. House sold AS-Is. Cash flow investment. Cannot miss out seeing this property.