Assumable - 8 Unit Apartment Complex - Phoenix, AZ
Real Estate :: Commercial
Assumable - 8 Unit Apartment Complex - Phoenix, AZBeautiful Income Producing Property Near Public Transp.
Assumable Loan - Just Reduced* Beautiful Income Producing 8 Unit Apartment Complex in Phoenix, Arizona - $596K · All units are a large 901 sq. ft. 2 Bedroom, 2-full Baths. All units include Stove, Refrigerator, Dishwasher, Microwave, Disposals, Washer/Dryer hook ups, Ceiling Fans and fully carpeted · Built in 1987 · 100% Occupancy in 2006 and 2007. · Automatic front and back sprinklers. · Concrete fencing. · 100% Occupancy for the past 2 ½ years. · Property is landscaped with paved parking for 16 cars – 8 covered carports. · New Roof in 2003. · Outside Lighting · Central Air Conditioning (1- per Unit). · $56,300 Annual Income · Low rents – (potential to increase annual income). · 7.1% cap rate @ $596K · 7 of 8 units currently engaged in 1 year lease agreements, expiring in October 2008. · Half block to public transportation! · Blocks from Grand Canyon University. · * Owner is selling this fantastic property with no warranties. Earnest deposit of $10,000 required with offer. Minimum down payment of $110K strongly desired. Contract will be subject to buyer’s inspection within ten (10) days subsequent to the acceptance of contract between buyer and seller. Prospective buyers are welcome to drive by property, however, any contact with tenants or manager is prohibited. Seller will not negotiate with anyone who violates this stipulation. Contact: Archie Ulm Hp: 970-881-2295 Cell: 970-980-8341 EMail: ulmarchie@aol.com | ||||||||||||
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