Fourplex in Phoenix $390,000 
North Central Phoenix 4 Unit Multifamily Apartment Building for Sale | | | | | | Proforma | Proforma | | Units | Mix | Size (sf) | Rent | Rent/sf | Total | Rent | Total | | 4 | 2br/2ba | 930 | $ 702 | $ 0.76 | $2,832 | $720 | $2,880 | | 4 | | 3,720 | | | $2,832 | | $2,880 |
- 4 large 2 bedroom and 2 full bath units
- Each is 930 square feet with 3 walk in closets
- Washer and dryer hookup in each unit
- Remodeled kitchens, floors and bathrooms
- Low maintenance desert landscaping
- Good income with upside potential
Located south of the Phoenix Mountain Preserve and close to a hospital, good schools and shopping. Its also just 5 minutes from the I-51 Freeway and only 20 minutes to downtown Phoenix. This popular with the tenants building has very large bedrooms and rare walk in closets, three of them, plus a linen closet and an exterior storage unit on the patio(balcony). 3 of the kitchen have been remodeled and the 4th has been refinished.  
The bedrooms and living rooms are over-sized with plenty of room for most people, they are open with 3 big windows allowing plenty of light through the double pane windows. 
The exterior was painted in 2005. The landscaping is low maintenance desert and requires little to no watering. The water heaters are located in a storage room on the lower floor helping to prevent flooding. Parking is quite big with 7 spaces and additional street parking.  
| | | Actual | | Proforma | | Gross Monthly Income | $ 2,832.00 | | $ 2,880.00 | | | | | | | | Gross Annual Income | | $ 33,984.00 | | $ 34,560.00 | | Vacancy | | | $ (1,019.00) | | $ (1,036.00) | | Other Income | | $ 150.00 | | $ 250.00 | | Gross Operating Income | $ 33,114.00 | | $ 33,773.00 | | Expenses | | | | | | | Insurance | | | $ 804.00 | | $ 804.00 | | RE Taxes | | | $ 2,052.00 | | $ 2,052.00 | | Water | | | $ 1,740.00 | | $ 1,740.00 | | Electric | | | $ 120.00 | | $ - | | Trash | | | $ 600.00 | | $ 600.00 | | Maintenance | | $ 1,400.00 | | $ 800.00 | | Management | | $ - | | $ - | | | | $ (6,716.00) | | $ (5,456.00) | | | | | | | | Net Operating Income | | $ 26,398.00 | | $ 28,317.00 |
You can download a PDF brochure with the above information and additional data here: Property Data Sheet This is is a great market for investment properties such as this 4 unit apartment located in Central Phoenix. Rents are going up and they will continue to increase as more people move to the state and lots of stock is taken out as its converted to condos or simply outdated. Other Central Phoenix Apartment Can be Seen Here: Central and North Central Apartments for Sale |
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