8 unit/Possible Seller Carry-20% down-5%int
8 Unit Apartment Building | $1,595,000 ($199,375/Unit) | 4.65% Cap Rate | Phoenix, AZ 85009
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,595,000
- Property Type
-
Multifamily
- Square Feet
- 4,416 SF
Listing Contacts
Linda Gerchick
Verified Profile
- Property Info
Property Overview
The Property
The property at 3121-3123 W Almeria Rd in Phoenix, AZ, zip code 85009, is a two-building residential complex situated on a 13,260 square feet plot of land. Zoned as R-4, it encompasses a total area of 4,416 square feet. The parcel number associated with this property is 108-26-108-C-D
Comprising eight apartment units, this building offers a mix of one-bedroom accommodations. Recent rent studies suggest that the current rental rates can be increased, potentially reaching $1,260 per unit. Therefore, the property holds promising income potential and presents an attractive investment opportunity for prospective buyers. Notably, there is an application pending for the only vacant unit, with a proposed rent of $1,379. Additionally, the property generates additional income through the implementation of a RUBS (Ratio Utility Billing System).
The seller has recently conducted maintenance work on the building, including re-piping, which is advantageous for a new owner as it reduces the likelihood of future maintenance expenses. Moreover, the roof has been tuned and is covered by a warranty. Both repairs were performed by licensed contractors.
Other notable features of the property include ceramic flooring throughout the units and small backyards accompanying each dwelling, providing additional appeal for potential tenants.
Regarding the terms of purchase, the seller may consider offering financing through a seller carry option. This entails a 30 percent down payment, interest-only payments at a rate of 5 percent, and a loan term of five years. Please go to www.justsoldit.com to set a time to discuss the terms of this property.
The property at 3121-3123 W Almeria Rd in Phoenix, AZ, zip code 85009, is a two-building residential complex situated on a 13,260 square feet plot of land. Zoned as R-4, it encompasses a total area of 4,416 square feet. The parcel number associated with this property is 108-26-108-C-D
Comprising eight apartment units, this building offers a mix of one-bedroom accommodations. Recent rent studies suggest that the current rental rates can be increased, potentially reaching $1,260 per unit. Therefore, the property holds promising income potential and presents an attractive investment opportunity for prospective buyers. Notably, there is an application pending for the only vacant unit, with a proposed rent of $1,379. Additionally, the property generates additional income through the implementation of a RUBS (Ratio Utility Billing System).
The seller has recently conducted maintenance work on the building, including re-piping, which is advantageous for a new owner as it reduces the likelihood of future maintenance expenses. Moreover, the roof has been tuned and is covered by a warranty. Both repairs were performed by licensed contractors.
Other notable features of the property include ceramic flooring throughout the units and small backyards accompanying each dwelling, providing additional appeal for potential tenants.
Regarding the terms of purchase, the seller may consider offering financing through a seller carry option. This entails a 30 percent down payment, interest-only payments at a rate of 5 percent, and a loan term of five years. Please go to www.justsoldit.com to set a time to discuss the terms of this property.
Property Details
- Class
- C
- Year Built/Renovated
- 1966/2015
- Stories
- 1
- Lot Size (sq. ft)
- 13,068 SF
- Units
- 8
Highlights
- Seller Carryback Possible-please call
- 100% Occupied
- Room to Raise Rents
- Underground plumbing recently completed
- Roof Tune Up done
- Individually Metered for Electric
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].