Viewing Listing MLS# 6770068
$2,380,000 | N/A beds | N/A full baths | N/A half baths | N/A sqft
Phoenix, AZ 85032
- N/ABeds
- 0.00Total Baths
- N/ASqFt
- 1983Year Built
- 0.00Acres
- 43 yearsEst Age
- MLS# 6770068
- Multifamily
- Multiple Dwellings
- Active
- Approx Time on Market1 year, 8 months, 3 days
- AreaMaricopa
- CountyMaricopa
- Subdivision Mountain Springs Terrace Condominium
Overview
This property presents a compelling investment opportunity with its attractive unit mix, desirable location, and potential for additional income through owner-operated facilities. It is a well-positioned, income-generating asset. There are opportunities to even increase current rental income for further value. This property is a prudent choice for investors looking to expand, diversify or start their portfolio. It offers a stable and reliable income stream. The property is 100% occupied and all units were remodeled. There are five-2 beds/1-bath, one-3 beds/1 bath, and eleven-3 beds /2 bath units. All are equipped with their own washer/dryer. The property is located in a Prime location with nearby amenities and great transportation access. Some bedroom counts includes a den (2 beds = 1 bedroom + den and 3 beds = 2 bedrooms + den). The den can function as a bedroom but doesn't have a window.
Agriculture / Farm
Association Fees / Info
Community Features: Barbecue, Manager Res/Office, Pool
Hoa: No
Bathroom Info
Building Info
Construction Materials: Wood Frame, Painted, Stucco
Roof: Built-Up
Exterior Features
Pool Private: Yes
Financial
Owner Pays: Trash Collection,Sewer
Gross Income: 296400
Insurance Expense: 7200
Maintenance Expense: 6000
Garage / Parking
Parking Features: Other, >1 Space Per Unit, 1 Space/Unit, Carport
Interior Features
Flooring: Vinyl
Appliances: Built-In Range, Dishwasher, Refrigerator, Microwave, Washer/Dryer
Lot Info
Lot Size: unknown
Number of Buildings: 2
Other School Info
Property Info
Road Surface Type: Asphalt
Zoning: R5
Tax Info
Tax Legal Description: LOT 111 MOUNTAIN SPRINGS TERRACE CONDOMINIUM MCR 033448
Tax Amount Annual: 3960
Unit Info
Total Units: 17
Unit: 17units
Utilities / Hvac
Water Source: City Franchise
Electric: APS
Cooling: Yes
Cool System: Central Air, Ceiling Fan(s), Electric
Heating: Individual, Electric
Heating: Yes
Sewer: Public Sewer
Waterfront / Water
Schools
Elem: Echo Mountain Primary School
Middle: Vista Verde Middle School
High: North Canyon High School
Directions
South on Cave Creek to Michigan Ave. Complex will be on the Right.
Listings courtesy of Coldwell Banker Realty
MLS# 6992561