February 5, 2012

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Small Multifamily Sales Numbers For Phoenix AZ

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3-4 unit Small multifmaily activity has been robust, just like the rest of the market.

“At the time of writing this there are only 138 active 3-4 unit properties. 40 are in AWC status – these are mostly short sales awaiting bank approval. There are a whopping 70 pending properties or those under contract awaiting a close. Many of these are vacant REO properties which once they enter the market will add to the inventory pool of available apartments.”  Artur from Phoenix Market Trends

View the recent sales at PhoenixMarketTrends

Filed Under: Phoenix 4plexes, Sold Properties

Phoenix Arcadia Four-plexes Just Sold

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2 sold fourplexes in Arcadia Lite area in Phoenix

Two more premium fourplexes have been sold by inPhoenix Realty Group. The small to medium multifamily market in Phoenix is increasingly lacking in inventory and obtaining good properties is very difficult.

It takes a lot of persistence to get a property under contract as there are many investors pursuing investments.

These two properties sold for $195,000 and $210,000 which is consistent with the market for these types of properties in the premium segment, of which, few hit the market.

They tend to have a high demand location, which Arcadia is, a low vacancy factor and stability.

We’re glad our clients were able to obtain such nice properties to add to their portfolio.

Filed Under: Multifamily Market, Phoenix 4plexes, Sold Properties Tagged With: , , , ,

North Phoenix Four Unit Income Property For Sale

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"fourplex", "phoenix multifamily,

For sale is this very well cared for income property in North Central Phoenix.  It has a total of 4 units, each with 2 huge bedrooms, 2 full bathrooms and laundry facilities in each unit.  It’s a turn key operation with little in deferred maintenance and ready to go: fully rented.

Location

The Phoenix fourplex is located in North Central Phoenix and specifically the eastern end of Sunnyslope near the Phoenix Mountains.  Close to major travel routs, a bus line and near the I-51 freeway.   Residents have quick access to lots of shopping, a hospital, some of the better schools in the valley, hiking and plenty of employers.

Features

Each unit has 2 large bedrooms and 2 full bathrooms (by full I mean with with a tub)

There are 3 walk in closest.

Mostly hard surface flooring, that means durability and cleanliness and foremost low turn over cost.

Newer roof installed in late 2009.

Plenty of parking: both off street (6-7 spaces) and on street (3-4 cars).

Numbers

Price: $170,000

Income:

Rent: $2,200 per month.  Market is $2,400

Expenses:

Water:  $220.00 per month

Trash: $80.00 per month

Taxes: $2,411.00 annual

Maintenance: $1,200 annual

Insurance: $740 annual

Get in touch.

Call Artur at 602.628.4349

artur@inphoenix.com

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Filed Under: Phoenix 4plexes, Properties For Sale, Property Potentials
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