7 PLEX (34th St & Fillmore) 1 House plus 6 Units
VITALS:
4 Building (2 Parcels) 4,900sf Living Area
14,000sf Lot Size 6 Parking Spaces
Built in 1947 Taxes: $2,128
PURCHASE PRICE: $190K (65k Down, 125k OWC)
CAP RATE: 12%
RENTS: Five of Seven units are currently rented with Property Manager Onsite. Brings in $2,500/month
1- 3 Bedroom/1 Bath Rents $500 (Property Manager lives there and pays utilities) 800sf
5- 1 Bedroom/1 Bathroom Rents $500.00 Average Square Feet 700sf
1- Studio/1 Bathroom Rents $400 Average Square Feet 600sf
View Pics:https://picasaweb.google.com/imyourlink/3442EMelvin?authkey=Gv1sRgCIqWhunBgoWYUQ&feat=directlink
TERMS:
65k Down – Owner will carry 125k at 10% for 9.5 years – Payment to be $1041.66 a Month plus utilities, taxes and insurance – Upside: once all units rented $3,400 potential income, Prop. Mgt in place along w/ Maintance mgr – Centrally located by the 202, 10 mins from Tempe, Downtown and Airport -
Open escrow with $3000 non refundable earnest deposit with Chicago Title Agency (Diana Jackmann) Phone:480-998-9298. Cash or Hard Money only. Property comes in “AS-IS” condition. Buyer to pay all closing costs
Contact us at 602.456.0034 for more information
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Here is an example why one should hire a Phoenix Property Management professional. A tenant moved out in the middle of the night. Then, we secured the property with new locks. Well, a squatter obtained access to this unit and completely destroyed this unit. We filed a police report and contacted the owner’s insurance company to put in a claim.