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5038 N 18th Ave

 Phoenix, AZ 85015
Active
Status
$420,000
Listing Price
6
Beds
3
Baths
2,276 Sq. Ft.
$184/Sq. Ft.
 

OVERVIEW

Investment Highlights

• Great Unit Mix - House + Duplex
• Value Add Opportunity Increase Rents to Market Rate!
• All Occupied Two Bedrooms and 96% Occupied Over the Last Five Years
• 100% Leased, Month to Month Leases, Easy to Increase Rental Income
• Stained Concrete Floors in Two Units
• Washer And Dryers in Each Unit
• Seller Has Updated to Copper Plumbing, Copper Electric, Roof Redone in 2011, Block Fencing On 3 Sides and Two New HVACs in 2011
• Individually Metered
• Just Half a Block From the Light Rail Transportation Station at 19th Ave and Camelback
• Easy Light Rail to: Christown Spectrum Mall, Christown YMCA, Solano Park
• Long Term Seller Financing Available. Down, Interest Rate and Balloon Negotiable. Not Required However.
• Tenant Paid Electric. Owner Paid W/S/T. Some Expenses Estimated. Buyer to Complete/Rely On Own Due Diligence.


Executive Summary
This triplex is in the heart of central Phoenix. Most of the units have undergone major improvements over the years and two units have stained concrete and one vinyl and carpet flooring. All of the units are individually metered for electricity, and all of the A/C’s and most hot water heaters and appliances are newer. Affordable, safe and clean apartment housing is in huge demand right now, and this is a perfect investment opportunity to fulfill that need. This triplex has been 96% occupied over the last five years and 100% occupied over the last three years. High quality block wall fencing surrounds the property.

These units included three 2 bedroom one bath units. Rents are 920, 818 and 818. Units need updating but collecting under market value rents. Nice off street parking and have newer central air conditioners in 2 units. Tenants are month to month. Value add or owner occupy in front house. Washer and dryer in each unit. All facts and figures are approximate buyer verify ALL information. Drive by only tenants are unaware of the sale. Seller is an inactive licensed real estate agent in the state of Arizona and is selling property as-is. Current proforma cap is 5.57 cap on market rents of $995 each. Current rents average $888 currently. Buyer to verify all MLS information, as facts and figures are approximate. Do Not Disturb Tenants.
Days on Fizber:
13 Days
Source: Fizber.com
 

PROPERTY DETAILS:

PROPERTY BASIC INFORMATION:

Property Information:
  • Year Built:
    1952
  • Property Type:
    Multi Family
  • Floors #:
    1
  • Architecture Style:
  • Total Units:
  • Bedrooms:
    6
  • Full Bathrooms:
    3
  • Partial Bathrooms:
    0
  • Living Square Footage:
    2276
  • Lot Square Footage:
    8245
   
 

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