6 unit with over 120K in rehab

07-28-2019
01-08-2022

8816 N 6th Place, Phoenix, AZ 85020

- HIGHLIGHTS -   

  • ​Over 100k in remodel
  • ​6 Units with Tenants paying High Rents
  • ​New Roof
  • ​New Landscaping
  • ​Additional Laundry Room Income

      - DIRECTIONS -      

From Dunlap and 7th Street, go south on 7th Street to Townley. Turn west to 6th Place. Turn south and the property is on the west side.

Property Description

Look at the HIGH Rent Roll. FULLY occupied and Property Manager says it practically runs itself. Owner has spent over 100K on rehab! There are 6 units collecting rent with laundry room income in place. In 85020 the prices are climbing, and the area is a great rental market.  All Tile floors, new large hot water heater. New Landscaping along with much more. See Documents Tab for the full list of capital improvements, the current financials and rent roll, and much more. This property is master metered, and the lender has a loan.  This is non-conforming property. Insurable and financable. Buyer to verify all facts and figures.

Unit Mix

Description No. of Units Sq ft. Avg. Monthly Rent
One Bedroom-One Bath 3 0 $ 0
Studio 3 0 $ 0

Key Property Information

Listing Status
Available
Multifamily type
Garden Style
Price
$ 550,000
No. of Units
6
Cap Rate
6.91%
GRM / GIM
9.57
Average Occupancy
100%
Year Built
1948
Building Size
1,602 Sq ft
Lot Size
5,300 Sq ft
No. of Stories
1
APN
160-49-080-A
Opportunity Zone
Off
Buy Side Fee
3%
Price per unit
$ 91,667

Financial Details

Income/Expense Info
Actual
Financial Year
2020
Gross Income
$ 57,468
Effective Gross Income
$ 56,144
Operating Expenses
$ 18,138
Net Operating Income
$ 38,006
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