518 E Western Ave, Avondale, AZ 85323 Available

  • $1,329,999
  • 2,349 sqft

Multi-Family Cash Cow located in Opportunity Zone!

 

21 Units (2/1 & 1/1)
2,349 sq.ft Main House
0.7 acres / 30,492 sq.ft
Price Per Unit: $63,333
Western Ave & Dysart

Located in Charming Historic District of Avondale. 21 units 100% occupied and cash flowing 140k/annually NET. Potential to add more units on property. This is a cash cow and easy 10-12% cap with current below market rents! Easy value add by increasing rents alone.

Cap Rate:
Gross Rent $227,856 – 5% Vacancy = $216,463 Effective Gross Income
$216,463 x 35% Expenses (Taxes, Insurances, Maintenance etc)
= $140,617 NET Income
140k / 1,329 Mill = 10.5% Cap

Cash on Cash Return:
1.329 Mill Purchase x 30% Down = $398,999 Down Payment
140k NOI / $398,999 Down = 35% Cash on Cash

 

Photos: https://www.dropbox.com/sh/iw3u7cqo1ndz8yc/AACTsCB6mpxBMlPfkQMqd8EFa?dl=0

Price:
$1,329,999
Address:
518 E Western Ave, Avondale, AZ 85323
Avondale, AZ 85323
Square Feet:
2,349
Lot Size:
30,492
Terms:
Assignment of Contract
Property Type:
Multi-family
Year Built:
1950

Call Email us
480-703-5914 for more details

Property Location