Find your prime investment opportunity today! This is an 8-unit low-rise complex. Built in 1980, but was extensively upgraded in 2023, making it a turnkey investment with significant potential for income growth. Offering a mix of two standalone 2-bedroom, 2-bathroom units and six 2-bedroom, 1-bathroom units, with modern amenities and high-quality finishes. Each unit features spacious living areas, updated kitchens and bathrooms, and individual storage units. The complex also boasts ample parking with 24 spaces and a well-maintained exterior. The proximity to major employers, shopping centers, hiking trails, and parks puts it in a highly desirable location, this property is perfect for long term tenants!
Property Attributes
MLS#6732554
Type Multi-Family
CountyMARICOPA
City Phoenix
Zip85020
StyleMultiple Dwellings
Year Built1980
Taxes$ 3005
Price$ 1,550,000
Bedrooms 0
Full Bathrooms 0
Half Bathrooms 0
Data Source:
Arizona Regional MLS (ARMLSN)
Sewer
Public Sewer
Heating
Individual,Central
Cooling
Central Air,Ceiling Fan(s),Individual
Roof
Composition
Zoning
R-3
Construction Materials
Painted,Block
Year Built
1980
Electric
APS,Submetered System
Township
3N
Tax Year
2023
Ownership
Fee Simple
Gross Income
133418.73
OwnerPays
Trash Collection,Water,Sewer,Landscaping
Community Features
No Pool
County
Maricopa
Net Operating Income
102913.73
Operating Expense
30505.0
Property Type
Multiple Dwellings
Attached Garage
No
Garage Y/N
No
Status
Active
Directions
From SR-51 Freeway exit on Northern and head west. Turn right on N 12th St then turn right on Dunlap Ave. Property will be on the left.
City
Phoenix
Disclosures
None
High School District
Glendale Union High School District
Open Parking Spaces
24.0
Number Of Units Total
8
Lot Size Square Feet
0.0
Carport Y/N
No
Tax Annual Amount
3005.0
Lease Renewal Y/N
No
Additional Parcels Y/N
No
Lease Considered Y/N
No
Rent Control Y/N
No
Standard Status
Active
Occupancy Type
Tenant
Cap Rate
6.05
MobileHomeRemainsYN
No
New Financing: Conventional
True
Ownership
Fee Simple
Senior Community
No
New Financing: Cash
True
Flooring
Carpet,Ceramic Tile,Vinyl
Air Conditioning Y/N
Yes
Heating Y/N
Yes