This Eastside Property is in excellent condition with nearly All Units Remodeled Recently. All Newer A/C units, Newer Kitchens, All Newer Hot Water Heaters, 8 Year Young Roofs, Lush Landscaping. Five Buildings - Four 2 story Buildings plus separate One Story Building with a Managers Office, Laundry Room, and 2 Additional Units. Great Looking Complex with no known deferred maintenance. Unit Mix = 10 Two Bedroom/Two Bath Units - 16 One Bed/One Bath Units - 1 Studio Unit. Laundry Lease has just expired - New Owner can decide which company to use or buy equipment! Storage Sheds will stay w/property. Conveniently located off of Highway 202. 2014 Rent Total $122,717.33 / NOI $88,640.21
7% CAP RATE. New loan available at 3.75% fixed. 93% occupancy. Asking rents at property have not been increased in over 3 years - which creates near-term rental upside for Buyer. (Note: Property earns additional $30k-plus per year in miscellaneous income) Rare opportunity to acquire a pride-of-ownership community, situated in the path of growth, along the Metro Light-Rail Line. Single-story, block construction, individually-metered, low-density. 2.18 acres of beautifully-landscaped grounds, create very desirable living environment. (Potential future re-development: Current R-5 Zoning.) The property has had a long history of being well-cared for and is in very good condition. Copper plumbing, new roofs (2013) and majority of interiors were upgraded over last couple of years.
The Coolidge Apartments are comprised of two parcels and six buildings, housing eleven two bedroom units and one studio unit,**** All individually metered for electricity/gas and all units with air conditioning. **** Majority of HVAC's have recently been replaced.***The five duplex buildings are ALL TWO bedroom units*** Updated electrical boxes/meters and drops*** Individual fenced yards & storage***Tenant favored private driveways and carports allowing tenants to park right next to their unit to unload groceries directly into the kitchen! **** These amenities help keep turnover to a minimum! The current rents are under market as these features are being overlooked, and consequently occupancy has always been excellent!***9.3 Cap rate on market rents*****Tenants are responsible for their own electric and gas expense. Owner pays water/sewer/trash with the City of Phoenix. PLEASE SEE ATTACHED EXECUTIVE SUMMARY for YTD actual income & expenses + proforma projections. 9.3 CAP ON MARKET RENTS**** Buyer to verify all information, building sizes and any item of concern prior to the end of the due diligence period.
Marcus & Millichap is please to offer the 176-unit River Park Apartments. This resort-like community is in a premium 'A' location within the City of Yuma, Arizona. Completed in 1986 River Park offers a perfect mix of large units including the highly popular 'split' floor plan available in 96 of the 2 bedroom 2 bath units. Amenities include fully appointed clubhouse, heated swimming pool and spa as well as fully furnished corporate suites.
Marcus & Millichap is please to offer to qualified investor the Lothlorien Apartments. The community consists of 120 garden-style apartment homes in 18 two-story buildings. The complex was developed and completed in 1979 and has been meticulously maintained.
Marcus & Millichap is pleased to offer to qualified investors the 156-unit Copper Ridge Apartments. Located in Kingman, Arizona and built in 1992, the community features a desireable mix of two and three bedroom units. The complex is a market-rate residential property, is historically stabilized within a high demand rental market and has been well maintained. It is being offered on an all-cash basis, or a buyer can take advantage of new, low interest rate financing.
Massive Cash Flow with a seller carry. Located in a high rental demand area near the University of Phoenix Stadium, Jobing Arena, Westgate Town Center & Valley Freeways, this 14 unit apartment complex is an investor' s dream. Ready to generate more cash flow, many units have been recently updated with fresh paint, flooring, appliances, bath fixtures, blinds & fans. Fresh exterior paint and new landscaping. All units have individually metered electricity. There are 12 one-bedroom apartments, 1 studio apartment and 1 two bedroom unit. The two story building has covered entries and & an energy efficient north/south exposure. Current Seller has renovated, rents are starting to be raised. Every rent is approx $50-75 low per unit. This building sits on an extra large lot where more units can be built.
Renovations & the rebranding of this property accounted for nearly $500,000 of capital expense. Today, Revival on 40th provides its community with a contemporary edge at a reasonable rental rate. The result is a stabilized occupancy, comfortable tenancy, & uncomplicated operations! The site plan is comprised of four, three-story rental buildings containing one- & two-bedroom units. The one-bedroom/one-bath units are approximately 720 SF & the two-bedroom/two-bath units are approximately 1,080 SF. Revival on 40th, is situated on one tax parcel (120-11-021C) which is 1.77 acres. The buildings are constructed of wood frame & stucco with foam roofs & roof-mounted air conditioners. Each unit at Revival on 40th offers an external patio or balcony, a frost-free refrigerator, a dishwasher, a disposal, & a terrific open floor plan. Renovated units are styled as either "New York" models featuring stained concrete floors & stainless-steel appliances including a built in microwave, or "Classic" models featuring vinyl "wood plank" floors & black or white appliances. Both models feature washers & dryers.
This is a spectacular Prescott Loft steps from the downtown square that is Mixed Use Zoning and generating income as a vacation home rental. This 2700 sq ft penthouse condo is supremely upgraded, boasts 3 bedrooms, 2 baths, private elevator, secure garage parking and is easy to rent at $400-450 per night!
4 units on two tax-codes. Two of the units were built in 1996 and two were built in 1961. Across from elementary school in North Central Tucson approx 2 miles from U of A. 2 carports. The property has some long term tenants and rents easy with proximity to shopping , schools and easy access to down-town Tucson. Owner may consider seller finance. Seperate meters great for cash flow.