The Second 4 plex under remodel in a great area of north Phoenix

02-26-2022
07-21-2022

1308 E Vista Ave, Phoenix, AZ 85020

New Air Conditioners
New Roof
New Dual Pane Windows
New Wood Grain Tile Flooring
New Hot Water Heaters
New Landscaping
New Asphalt Parking covering
New Cabinets
New Quartz Counter Tops
New fixtures
New Exterior Doors
New Interior Doors
New Tile Surrounds in the Bathrooms
New Stainless Steel Appliances
New Exterior Fencing
New Exterior Landscaping
New Stackable Washer and Dryers
Covered Parking
MUCH MORE

Property Description

If you want a north Phoenix location and a totally remodeled 4 plex you have found it!  This all 2 bedroom 4 plex should be completed mid-spring and the rental comps are over the top with the really nice area.

All 2 bedrooms with stackable washer and dryer and covered parking. Many improvements including quartz counter tops. New Roof and New mechanicals.

Seller will accept a full price offer and due diligence will begin after construction is completed.  Take advantage NOW!

There is 1302 E Vista also being remodeled - take the opportunity to own an 8 unit with residential financing.

Buyer to verify all facts and figures.

Unit Mix

Description No. of Units Sq ft. Avg. Monthly Rent
2 Bed 1 Bath 4 750 $ 1,800

Key Property Information

Listing Status
Sold
Listing Type
Highest & best offer
Multifamily type
2-4 Units
Price
$ 1,250,000
Sales price
$ 1,147,140
No. of Units
4
Cap Rate
5.76%
GRM / GIM
1.1
Average Occupancy
100%
Year Built
1973
Year Renovated
2022
Building Size
2,790 Sq ft
Lot Size
11560 sq ft
No. of Stories
1
APN
160-22-119
Zoning Code
R-3
No. of Parking Spots
8
Opportunity Zone
No
Buy Side Fee
3%
Price per unit
$ 312,500
Closing Date

Financial Details

Income/Expense Info
Pro Forma
Financial Year
2022
Gross Income
$ 86,400
Effective Gross Income
$ 83,808
Operating Expenses
$ 12,838
Net Operating Income
$ 70,970
Pre-tax Cashflow
$ 70,970
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