*** PHOENIX INCOME PROPERTY - Turn-key Operation, 100% Occupied w/Veteran Tenants, Great Ratios ***
TURN-KEY INCOME PROPERTY with GREAT RATIOS!!! - This 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): 7.44%
Net Operating Income (NOI): $48,260
Gross Rent Multiplier (GRM): 8.98
Debt Coverage Ratio (DCR): 1.32
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, its 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!
HIGH TRAFFIC AREA - 1/2 Block from 43rd AVE & Van Buren: Power Intersection
EXCELLENT CONDITION - Typical Costly Capital Expenditures have been Made
100% OCCUPIED - Long Time Tenants Love the Area and Plan on Staying for Years to Come
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 ***
Capitalization Rate (CAP Rate): 7.44%
Net Operating Income (NOI): $48,260
Gross Rent Multiplier (GRM): 8.98
Debt Coverage Ratio (DCR): 1.32
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, its 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!
HIGH TRAFFIC AREA - 1/2 Block from 43rd AVE & Van Buren: Power Intersection
EXCELLENT CONDITION - Typical Costly Capital Expenditures have been Made
100% OCCUPIED - Long Time Tenants Love the Area and Plan on Staying for Years to Come
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
John Brooks
480-221-5859
Location
FEATURES
No. Units: 8
Building Class: Multiplex
Building Size: Single Story
Price / Unit: 81,125
Cap Rate: 7.44
Square Footage: 7,633
Unit Mix Information: One - 100% Occupied Rectangular six-plex with 5 Lockable Storage Rooms, Carport, Individual A/Cs, Individually Metered, and 4 Assigned Parking Spaces per Unit. TWO - 3 Bedrooms, 2 Bathrooms, 2 Car Garages Single-family Residences Built in 2006.
Year Built: 2006
Metro Area: Phoenix
PRICING
Asking Price: 649,000
Additional Features: Listed in the Ad
Currency: USD
Flexibility: Negotiable
Net Operating Income: 48,260
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LISTING ID:: 372794
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Photo Gallery
Aerial of the Complex
View of the Single-family Residences
View of the Apartment Building
LISTING ID:: 372794