Investment Summary
Plug & Play 4 unit in the sought after Oakland Historic District near State of AZ government buildings in heart of Downtown Phoenix. SELLER FINANCING with attractive terms. Significantly upgraded & stabilized. 6 CAP +/- with close to $5,000/month of rental/additional income! 100% occupied, excellent tenants. Well-managed/operated by local owner. Perfect handoff to new owner. Two duplex buildings on a 8700 SF lot. Front building is 1227 SF (two 1/1’s @ 614 SF), built in 1958. Rear building is 1431 SF (one 1/1 @ 614 SF w/ 2/1 @ 817 SF), built in 1962. Upgraded in all of the right places. Tenant paid electric. Owner paid w/s/t. Rents, w/s, yard #’s actual. Other expenses approximate. Seller Financing Terms (not required): 20% down, 4.5% int-only, 3 yr balloon, pre-pay.
Offering
Sold Price: $698,000
Cap Rate: 6.70%
No. Unit: 4
Building Size: 2,659 SQ FT
Year Built: 1962
APN: 111-24-107
Financial Summary
| Gross Rental Income | $58,692 |
| Effective Gross Income | $57,121 |
| Total Expenses | $10,337 |
| Net Operating Income | $46,784 |
Unit Mix
| Description | No. Units | Avg. Rent | SQ. FT. |
| 1 Bed 1 Bath | 3 | $1,137 | 614 |
| 2 Bed 1 Bath | 1 | $1,432 | 817 |
412 N 17th Dr Phoenix Arizona 85007
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