$570,000
$575,000
0.9%For more information regarding the value of a property, please contact us for a free consultation.
SOLD DATE : 08/24/2020
Key Details
Sold Price $570,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Collins Addition Phoenix Blocks 23-26 17 & 27
MLS Listing ID 6085057
Sold Date 08/24/20
Maintenance Fees $1,000
Originating Board Arizona Regional Multiple Listing Service (ARMLS)
Year Built 1985
Annual Tax Amount $2,075
Tax Year 2019
Lot Dimensions 7002
Property Description
This turn-key Fourplex is fully stabilized and generates over $47k in yearly gross revenue! High quality tenants have been placed by professional management and are all paying rent. It is located a couple blocks from Downtown Phoenix and only steps away from the Washington/Jefferson light rail stations. It was gutted and fully renovated in 2016 including new roof, four new full size A/Cs, new electric panel/wiring, new HW heaters, as well as all new windows, flooring, kitchens, baths, paint, trim, and much more. Each kitchen features full size stainless steel appliances incl. built in range, microwave, dishwasher, & disposal. Each unit also has built in washer/dryer combos. Tenants love the abundance of off street parking, along with dusk/dawn security lighting and full perimeter fencing. First time investors and out of state buyers would be the perfect fit for this stable Phoenix multifamily property. Two units are currently month-to-month, so it would also work well for an owner occupant using FHA or VA financing. A savvy owner may also convert one or more of the units to short term Airbnb rentals to capitalize on the proximity to downtown Phoenix and all it has to offer (Suns, Diamondbacks, light rail, museums, and the convention center).
Location
State AZ
County Maricopa
Community Collins Addition Phoenix Blocks 23-26 17 & 27
Zoning R-5
Direction South on 14th street from either Washington or Jefferson streets. Right on Madison, Property is on the North side.
Interior
Heating Individual, Heat Pump
Cooling Individual, Electric
Appliance Dishwasher, Disposal, FS OvenRange, Refrigerator, WD Hookup, Microwave, WasherDryer
Exterior
Garage Assigned
Community Features No Pool
Waterfront No
Roof Type Composition
Parking Type Assigned
Total Parking Spaces 8
Building
Sewer Sewer-In & Connected, Public Sewer
Water City Franchise
Schools
School District Phoenix Union High School District
Others
Senior Community No
Tax ID 116-47-058
Acceptable Financing Conventional, 1031 Exchange, FHA, VA Loan
Listing Terms Conventional, 1031 Exchange, FHA, VA Loan
Financing Conventional
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