Phoenix 4plexes
Small Multifamily Sales Numbers For Phoenix AZ
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
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Phoenix Arcadia Four-plexes Just Sold
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.
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North Phoenix Four Unit Income Property For Sale
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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