*** PHOENIX INCOME PROPERTY - Turn-key Operation, 100% Occupied w/Veteran Tenants, Great Ratios ***
712 N. 39th AVE
Phoenix, AZ 85009
408-678932
$649,000.00
TURN-KEY INCOME PROPERTY with GREAT RATIOS!!! - This property has had 100% occupancy since its owner purchased it about 4 years ago. The beautiful complex sits on just under 1 ACRE of land and features a SIX-PLEX (APN: 106-04-037-B) with 4 ASSIGNED parking spaces per unit and 2 SINGLE-FAMILY RESIDENCES (APN: 106-04-014-A) with garages built in 2006. Each unit has its own NEWER A/C unit and is METERED SEPARTELY for gas and power. The ROOF and WATER HEATERS for the six-plex were replaced with the past two years. This multiplex has been well-maintained and has EXTREMELY LOW operating and maintenance costs.Capitalization Rate (CAP Rate): 7.44%Net Operating Income (NOI): $48,260Gross Rent Multiplier (GRM): 8.98Debt Coverage Ratio (DCR): 1.32Each unit is rented for about 83% below market rates. There may be capacity to improve the CAP rate even further. Call for details.The property is located in the heart of a very busy part of Phoenix. It's immediate across the street from two elementary schools and 1/4 mile from the high school and park. And, its within a half mile from shopping centers and industrial complexes for local services and employment.Don't miss your opportunity to own income-generating property in Phoenix!GREAT RATIOS - Property is Rented at least 17% Under Market & the Numbers are Still GREAT!HIGH TRAFFIC AREA - 1/2 Block from 43rd AVE & Van Buren: Power IntersectionEXCELLENT CONDITION - Typical Costly Capital Expenditures have been Made100% OCCUPIED - Long Time Tenants Love the Area and Plan on Staying for Years to ComeIMMEDIATELY ACCROSS the STREET from SCHOOLS - Keeps the Vacancy Rates Low in the AreaCLOSE TO SHOPPING, TRANSIT & EMPLOYMENT AREA - Perfectly Positioned in the South Part of PhoenixAdditional information and photos are available upon request.Both parcels are being sold as one entity.*** DRIVE-BY ONLY Do Not Disturb Tenants Call Agent for Tour ***
