$1,020,000
Phoenix, AZ 85006
MLS# 6693595
1 / 10
Property Description
Investment Opportunity in Prime Location! Discover this remarkable 4-plex multi-family property nestled in the heart of the highly sought-after Garfield District in Phoenix, Arizona. With all units fully occupied by tenants, this property offers immediate rental income and a promising return on investment. Property Highlights: 100% Tenant Occupied: All four units are currently leased, providing a steady stream of rental income from day one. Desirable Location: Located in the vibrant and historic Garfield District, this property is surrounded by an array of amenities including restaurants, shops, parks, and entertainment options. Maintained Units- Functional Layouts.
Details
Maps
Contract Info
Current Price: $1,020,000
List Price: $1,020,000
Status: Active
List Date: 2024-04-18
Ownership: Fee Simple
Subagents: N
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
House Number: 1435
Compass: E
Street Name: PIERCE
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85006
Zip4: 3530
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 22 MEYERS SUB MCR 000449
Subdivision: MEYERS SUB
Assessor's Map #: 19
Assessor's Parcel #: 168
Add'l Parcels: No
Assessor Number: 116-19-168
Legal: LOT 22 MEYERS SUB MCR 000449
Census Tract: 113201
Tax Municipality: Phoenix
Taxes: 1514
Tax Year: 2023
Marketing Name: Meyers Sub
General Property Description
Lot Size Dimensions: 49.95 x 138.02
Year Built: 1983
Uncvrd Parking Spcs: 8
Total # of Units: 4
# of Buildings: 2
Zoning: R-4 Multi Fam
Flood Zone: No
Elementary School: Garfield School
Jr. High School: Phoenix Prep Academy
High School: North High School
Elementary School District: Phoenix Elementary District
High School District: Phoenix Union High School District
Remarks & Misc
Cross Street: 16th St. & Van Buren
Directions: Van Buren to 16th St., North to Pierce, West to Property.
Geo Lat: 33.455531
Geo Lon: -112.050574
Status Change Info
Status Change Date: 2024-04-18
Legal Info
Township: 1N
Range: 3E
Section: 4
Lot Number: 22
Income & Expenses
Annual Wtr/Swr Exp: 3000
Owner Association: No
Operating Exp: 4514
Gross Annual Sch Inc: 50400
Adjusted Gross Inc: 50400
Net Operating Income: 45886
Pmt & Rate Info
Cap Rate: 4.5
Equity: 1020000
Showing Notification Methods
Showing Service: No Showing Service Used
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 1050
Avg SqFt: 621
# Baths: 1
Property Features
Project Type: Four Plex
Construction: Frame - Wood
Const - Finish: Painted; Stucco
Roofing: Comp Shingle
Floors: Concrete
Sale Includes: Land & Building
Community Amenities: No Pool
Exterior Amenities: Desert Landscaping; Fenced; Partially Fenced; Cable TV Available; Pet Restrictions
Appliances Included: F/S Oven/Range; Refrigerator
Heating: Heat Pump; 2 or More Units
Cooling: Central A/C; 2 or More Units
Water: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: None
Parking: 1 Space/Unit; Add'l Parking Avail
Roads/Streets: Asphalt; Dedicated Street; Concrete; Curb(s) & Gutter(s); Sidewalk(s); Alley
Owner Pays: Water; Trash Collection
Tenant Pays: Electric; Cable TV
Source of Fincl Data: Provided by Owner
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Existing 1st Loan: Conventional
Existing 1st Ln Type: Fixed
Existing 1st Ln Trms: Non Assumable
New Financing: Cash; Conventional; Seller May Carry
Reports/Disclosures: Seller Prop Disc Stm
Environmental: None
Supplements
Strong Rental Demand: The Garfield District is known for its charm and convenience, attracting a consistent pool of potential tenants.
Potential for Growth: Explore opportunities for increasing rental income or future appreciation as the area continues to develop.
Don't miss out on this exceptional opportunity to invest in a thriving neighborhood. Whether you're a seasoned investor or looking to expand your portfolio, this 4-plex property in the Garfield District is a must-see.
Listing Office: Kristopher Realty
Last Updated: April - 18 - 2024
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
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