UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active Under Contract
Purchase Type For Sale
Subdivision Altro Terrace
MLS Listing ID 6982836
Maintenance Fees $2,000
Year Built 1961
Annual Tax Amount $2,025
Tax Year 1506
Lot Dimensions 62.45 X 131.27
Source Arizona Regional Multiple Listing Service (ARMLS)
Property Description
This thoughtfully upgraded property consists of four (4) one-bedroom, one-bathroom units, each extensively renovated with updated flooring, modernized kitchens, and refreshed bathrooms. The improvements provide strong tenant appeal while minimizing near-term capital expenditure.
All units are currently leased through Home Inc, with rental income ranging from $1,467 to $1,590 per unit, offering stabilized cash flow... in a prime university adjacent location.
Recent capital improvements include the full replacement of existing sewer lines, providing a significant infrastructure upgrade and reducing future deferred maintenance risk.
Investment Highlights:
(3 out of the 4 units are extensively remodeled) Fourplex
Four 1BR / 1BA units
Strong in-place rents: $1,467-$1,590 per unit
Sewer lines recently replaced
Prime proximity to GCU, parks, retail, and major freeways
Professionally managed (Home Inc)
Seller Financing Opportunity:
Seller is willing to carry $50,000 down and will structure an exact wrap of the existing note at 7.25% interest rate, creating a compelling financing option for qualified buyers.
All facts and figures are approximate. Buyer to verify all MLS information and conduct independent due diligence.
Location
State AZ
County Maricopa
Community Altro Terrace
Area Maricopa
Zoning R-3
Interior
Heating Electric
Cooling Central Air, Heat Pump
Flooring Vinyl
Appliance Free-Standing Range, Refrigerator, Microwave
Exterior
Parking Features <1 Space Per Unit, On Street
Community Features No Pool
Roof Type Composition
Private Pool No
Building
Sewer Public Sewer
Water City Franchise
New Construction No
Schools
School District Phoenix Union High School District
Others
Senior Community No
Tax ID 154-04-017-A
Acceptable Financing Owner May Carry, Conventional, FHA, VA Loan, Wraparound
Disclosures None
Listing Terms Owner May Carry, Conventional, FHA, VA Loan, Wraparound
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