Rare 16 Door Central Phx deal Available

  • $2,050,000

Great 16 Door Opportunity in Central Phoenix! Cash Flow from Day One!

  • 1155 E Diamond, Phoenix, AZ, 85006- 5 units in Garfield Historic District : (2) 2/1’s & (3) 1/1’s ($1,100,000)
    • One meter for all units; trash included
  • 614 & 616 N 10th Avenue, Phoenix, AZ 85007- 8 units on 2 parcels in Roosevelt Art District: (4) 2/1’s & (4) 1/1’s ($660,000)
    • Two water meters for each address (614 & 616 N 10th); trash included
  • 721 W Coolidge St, Phoenix, AZ, 85013- 3 units in Melrose Historic District: (3) 1/1’s  ($290,000)
    • Tenants pay water utility; trash included

 

Proforma market rents $183,600 annually for all 16 units;
NOI: $144,000

7% Cap Rate Proforma

Actual Rents: $112,680

 

Acquisition lending approved: 1.4M at 7.99% interest

Cost per door for comps up to $225K

Your cost per door: $131K

ARV: 3 M+ (with stabilization)

4 units need $70K rehab

Recently Sold Comps (within 1 mile): 

 

Dropbox linkhttps://www.dropbox.com/sh/kkfvsscex529xxw/AAAToAc2xuxJZ0UjTtlj7CdEa?dl=0

Price:
$2,050,000
Address:
616 N 10th Avenue
Phoenix, AZ 85007
Terms:
Assignment of Contract
Property Type:
Multi-family

Call 480-703-5914 or Email us
for more details

Property Location