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Key Details
Sold Price $685,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Aviation Homesites
MLS Listing ID 6597018
Sold Date 11/15/23
Maintenance Fees $1,600
Originating Board Arizona Regional Multiple Listing Service (ARMLS)
Year Built 1958
Annual Tax Amount $1,893
Tax Year 2022
Lot Dimensions Rectangular
Property Description
This upgraded 5-unit property offers day one cash-flow and nearly a 7% cap rate on actuals! Major upgrades have been done to the bones of the property, including a recent replacement of the main sewer line. Cosmetic upgrades include but are not limited to new flooring, interior & exterior paint, kitchen cabinets & countertops, and bathroom tiles & vanities. The property is well managed with government-assisted tenants on annual leases at market rates. Individually metered for electric. Located in an Opportunity Zone near Phoenix Sky Harbor Airport, downtown Phoenix, and I-10 & Loop 202 freeways. To learn more about City of Phoenix Opportunity Zones go to https://www.phoenix.gov/econdev/opportunity-zones. Drive-by only. Please do not disturb tenants.
Location
State AZ
County Maricopa
Community Aviation Homesites
Zoning Multi
Interior
Flooring Ceramic Tile
Appliance None
Exterior
Parking Features 1 Space/Unit, Street Parking
Community Features No Pool
Roof Type Composition
Total Parking Spaces 6
Building
Sewer Public Sewer
Water City Franchise
New Construction No
Schools
School District Phoenix Union High School District
Others
Senior Community No
Tax ID 116-01-073
Acceptable Financing Conventional, 1031 Exchange
Listing Terms Conventional, 1031 Exchange
Financing Conventional
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Kodi Riddle
Associate Broker / Owner | License ID: BR514965000
Associate Broker / Owner License ID: BR514965000