Cash Flowing - Fully Repositioned 36-unit Apartment Community located in North Phoenix off of Cave Creek Road - West of the SR-51 Freeway and near Lookout Mountain. Property has had Many Improvements and Each Unit has been Renovated - Property was Rehabbed in 2012. Actual gross rents of $228,900 based on Current Rent Roll with Added Income of $4620 equals $233,520.00 Adjusted Gross Income. After expenses of $110,968.00 the Actual Net Operating Income is $122,552.00, which minus the vacancy allowance is a 7.47% CAP RATE! Great Unit Mix!!
Property consists of (4) two bedroom single family homes with private fenced backyards and (3) two bedroom duplexes for a total of ten units. Easy to rent, indemand single family homes, with below market rents. Huge 1.4 Acre corner lot with major frontage on busy Greenway Parkway, with an excellent possibility for reoning to a commercial use. National retailer Walgreens across the street.
Opportunity to purchase two 4plexes in north Phoenix all with 2bed/2bath units with washer dryer hookups. Recently updated units featuring tile floors some newer a/c's, one newer roof, all units are in above average condition for the area. All units are built in the 80's with copper plumbing and wiring. Centrally located in Northern Phoenix just one mile from SR51. Abundant amounts of shopping within walking distance, less than 1/4 mile from bus stops, located in Paradise Valley School District. Can be sold separately. Property addresses are 16210 N 31st St & 16202 N 31st St
All 2 bedroom/2 bathroom units with washer dryer hookups. Roof and all A/C units replaced just a few years ago. One of the units was completely remodeled down to drywall and fixtures. The other three units are partial remodels and are in great shape. Three out of 4 units currently rented for $535. Property was built in the 80's with copper plumbing and wiring. Located in North Central Phoenix just off SR51 for easy access anywhere in The Valley. Located in Paradise Valley School District right on the bus line and walking distance to many restaurants and shopping.