$2,200,000
Pinetop-Lakeside, AZ 85929
MLS# 6690145
1 / 15
Property Description
Seller Carry offering on this totally renovated 15 unit motel with 2000 ft of flex commercial space up front. Projections for this mid-scale complex show a knowledgable owner operator should be able to grow the business to gross over $450k annually. The entire motel was taken down to the studs and completely redone in 2022. Everything is new, Electric new 400 amp SES main panel installed with underground feed. All new plumbing, new AC units to each room, spray foam insulation, new windows, new front dutch doors for each room, new Laundry room with 4 new full size stackable units and two new water heaters with new recirculation-pump.
Details
Maps
Contract Info
Current Price: $2,200,000
List Price: $2,200,000
Status: Active
List Date: 2024-04-11
Ownership: Fee Simple
Subagents: N
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
House Number: 858
Compass: E
Street Name: White Mountain
St Suffix: Boulevard
City/Town Code: Pinetop-Lakeside
State/Province: AZ
Zip Code: 85929
Country: USA
County Code: Navajo
Assessor's Map #: 29
Assessor's Parcel #: 26
Assessor Parcel Ltr: F
Add'l Parcels: No
Assessor Number: 311-29-026-F
Legal: PINETOP HILLS #1: LOT C-6........EXCEPT NWLY 79' (AS MEASURED PER PENDICULAR TO NWLY LINE)
Tax Municipality: Navajo - COUNTY
Taxes: 4474
Tax Year: 2023
Marketing Name: Little Pine motel
General Property Description
Lot Size Dimensions: 120 x 200
Year Built: 1976
Uncvrd Parking Spcs: 30
Total # of Units: 15
# of Buildings: 1
Zoning: c-1
Elementary School District: Blue Ridge Unified District
High School District: Blue Ridge Unified District
Remarks & Misc
Cross Street: White Mountain Blvd & Rim Rd
Directions: Property is on North side of White mountain blvd (260) between woodland rd and rim road.
Geo Lat: 34.128035
Geo Lon: -109.944327
Status Change Info
Status Change Date: 2024-04-11
Legal Info
Lot Number: c
Income & Expenses
Annual Elec Exp: 6000
Annual Gas Exp: 2000
Annual Mgmt Exp: 18000
Annual Trash Exp: 2800
Annual Wtr/Swr Exp: 3600
Owner Association: No
Annual Other Expense: 9240
Operating Exp: 46114
Gross Annual Sch Inc: 180000
Other Income: 24000
Adjusted Gross Inc: 204000
Net Operating Income: 171600
Pmt & Rate Info
Cap Rate: 7.8
Down Payment %: 20
Monthly Payments: 13000
Equity: 2200000
Showing Notification Methods
Showing Service: Aligned Showings
Efficiency Units
# Efficiency Units: 14
Avg Rent: 1075
Avg SqFt: 320
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 1400
Avg SqFt: 600
# Baths: 1
Property Features
Project Type: 13 - 24 Units
Construction: Frame - Wood
Const - Finish: Painted
Roofing: Metal
Floors: Vinyl
Sale Includes: Land & Building; Personal Property; Laundry Equipment
Payment Includes: Principal; Interest; Taxes; Insurance
Community Amenities: Other
Exterior Amenities: Fenced; Security Light(s)
Interior Amenities: Furnished; Fire Sprinklers; Drapes
Appliances Included: Refrigerator; Microwave; Washer/Dryer
Heating: Natural Gas
Cooling: Electric
Water: City Franchise
Sewer: Sewer - Public
Electric: Other (See Remarks)
Gas: Unisource
Parking: Free; Other (See Remarks)
Roads/Streets: Asphalt
Owner Pays: Water; Electric; Gas; Trash Collection; Landscaping; Other
Tenant Pays: Other (See Remarks)
Source of Fincl Data: Provided by Owner
Special: Owner/Agent
Showing Notification Methods: Text; Phone Call
Lockbox Type: Other
Existing 1st Loan: Conventional
Existing 1st Ln Trms: Assume - Qualify
New Financing: Cash; VA; Conventional; Seller May Carry
Reports/Disclosures: Seller Prop Disc Stm
Environmental: None
Listing Office: Gentry Real Estate
Last Updated: April - 16 - 2024
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