Fourplex under construction in Surprise AZ

01-19-2022
06-13-2022

12717 W Amy Dr, Surprise, AZ 85378

2717 W Amy-CAP EX
Items Details
Windows Replaced all 12 windows with new Vinyl Dual-pane energy-efficient ones.

AC and Heating (4)New Goodman 2.5 ton units with a package heat pump.
New electrical whips,disconnect box, tie-ins, elbows, sheet metal, vents and ducting.

Appliances New Frigidaire Stailess Steel: Microwave, Dishwasher, Fridge w/Ice Maker, and Stove in each unit
Stackable washer and dryer in each unit

Asphalt New grading for drainage. New Asphalt paving using 1/2" parking lot mix
New Striping and Parking Blocks

Exterior Paint Full exterior paint, including concrete walkway

Interior Paint Full interior Paint including ceiling, walls, and baseboards

Exterior Block Walls Privacy walls for each unit, including gates and walls to frame in the property

Plumbing New Shower Valves, Added Laundry Drains in each unit, new Clean-outs
(4) 40 Gal Rheem Electric Water Heaters with new ball valves, flex lines, water heater pans,
Blow down valves for servicing, and expansion tank is required per code.
Each unit has 60year parts and tank manufacturer warranty and 1 year labor warranty

Cabinets All new shaker-style cabinets and modern Stainless Steel hardware for all kitchen and bathroom cabinetry

Countertops Elegant Custom White Quartz Countertops for all kitchens and bathrooms

Electrical Panel 400 Amp service with new breakers, tags, labels, wires to dryers and washing machines

Electrical Interior Trim New outlets, switches, covers, ceiling fans with lights for living room,
kitchen and bathroom lighting, new ceiling fans in all bedrooms

Flooring New porcelain tile wood planks style flooring in all downstairs units and Laundry
New carpeting on stairs and bedrooms

Baseboard/Door Trim New trim for all doors and closets. New 4" baseboards for all units.

Exterior Doors/Security Doors New Exterior door with security door for the front of each unit. Front Doors have Windows for natural light.
New exterior doors for the rear

Interior Doors 32 Santa Fe-styl interior doors for all units combined

Bathrooms 4 new water lines per unit. New toilet water lines for each unit.
New toilets, Faucets, and Shower Valves for each unit
New Shower niche, including rectangular tiles for each unit

Drywall New Drywall and texture in bathrooms, kitchens, and closets

Roof Brand new Roof with 30-year concrete shingles, with warranty

Landscaping Spreading 3/4in Madison gold with a 2 inch depth above six mill underlayment at the front of the building.
Tan Quarter to be spread at the back of all units

Backsplash New subway tile in all kitchens with 3/8” Stainless trim

Property Description

What an opportunity to own two fourplexes - Construction is still underway and completion should be in April of this year. There is 12730 W Amy that is also available to complete the package.

Stackable Washer and Dryers have been added along with stainless appliances. Dual pane windows along with new roof and new air-conditioners.

MANY MANY more upgrades. In this market many investors will write the contract and wait for the completion knowing that the good product is here! One other building has been finished is in escrow and currently has proven rents of $1,495 per door. Buyer to verify all facts and figures.

 

Unit Mix

Description No. of Units Sq ft. Avg. Monthly Rent
2 Bed 1 Bath 2 750 $ 1,495
2 bedroom 2 bath 2 750 $ 1,595

Key Property Information

Listing Status
Under Contract
Listing Type
Highest & best offer
Multifamily type
Garden Style
Price
$ 1,100,000
No. of Units
4
Cap Rate
5.8%
Year Built
1986
Year Renovated
2021
Building Size
3,000 Sq ft
Lot Size
5,823 Sq ft
No. of Stories
2
APN
501-18-269
No. of Parking Spots
7
Opportunity Zone
Off
Buy Side Fee
3%
Price per unit
$ 275,000

Financial Details

Income/Expense Info
Pro Forma
Financial Year
2022
Gross Income
$ 71,760
Effective Gross Income
$ 69,607
Operating Expenses
$ 11,911
Net Operating Income
$ 57,697
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33.632024, -112.333893

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