Properties For Sale
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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- sale plex 85018
2 Fourplexes in 85018 Area of Phoenix For Sale
(visit the website www.GlenrosaApartments.com for more details and financial data)
2 very well maintained fourplexes are available for sale. Unlike most of the inventory out there these are fully functioning businesses not just shells in need of repair and new customers: there is value in that.
Rarely do such nice fourplexes come on the market in the prime living area and rental areas in the valley: these are located in Arcadia one of the most revered and in-demand neighborhoods by valley residents. Why? It’s a combination of many characteristics:neighborhood quality, affordability, and convenience to work and school have consistently been top priorities for most people and they are present here.
From quick access to major freeways: SR-143, Loop 202, I-51 to a large employment base, to some of the better schools in the valley, to shopping and dining. Then there is plenty to do for leisure at the Phoenix Mountains Preserve to start.
It’s a hip and trendy neighborhood where older homes are being remodeled and others rebuilt into beautiful homes. This neighborhood has never really gone down and it’s still moving ahead in desirability. There is lots of money going into the homes and the neighborhood associations are fairly adamant about keeping the area nice: all these are characteristics which not only owners like but tenants. Everyone wants to live in a nice neighborhood.
There are two fourplexes on 2 separate lots which allows for easy residential financing with a 25% down-payment, but an owner occupant can buy with as little as 3.5% down with FHA financing.
Over the last few years the property has been slowly upgraded and remodeled including a new roof in 2004, many new A/C units and interior remodels.
It has very little in deferred maintenance and on-going maintenance issues. The desert landscaping is nice, easy and inexpensive to maintain.
Let’s take a look at an APOD(annual property operating data)
Rental Income $62,400
Other Income $1,080 (laundry)
GSI $63,480
Vacancy ($1,872+$624)
Gross Operating Income $60,984
Expenses
Landscaping $2,136
Janitorial $225
Maintenance $199
Repairs $860
Taxes $4,322
Water $4,072
Electricity $500
Total Expenses ($12,314)
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- www glenrosaapartments com
A Review of Several Phoenix Real Estate Investment Related Articles
Some investment related articles we did at PhoenixMarketTrends.com
This is a case study of a condo purchased by an out of town investor. It was a lender owned property taken from a plain dirty place to a wonderful inviting home.
There are several ways to search for multifamily properties, here and at Phoenix Market Trends and we review them here.
I like this post because I believe you have to be responsible for you own assets and that includes real estate, though your involvement may be limited, but it needs to be there.
Multifamily is now in a many year low. You can find properties priced at the same levels at the 1980′s. That’s just extraordinary and there is a clear reason for it. Just the same, there are very good reasons why well purchased multifamily properties will do well in the future, maybe even the near future.
Incoming search terms:
- phoenix property investors case study
