Viewing Listing MLS# 7043158
$1,385,000 | N/A beds | N/A full baths | N/A half baths | N/A sqft
Phoenix, AZ 85017
- N/ABeds
- 0.00Total Baths
- N/ASqFt
- 1971Year Built
- 0.00Acres
- 55 yearsEst Age
- MLS# 7043158
- Multifamily
- Multiple Dwellings
- Active
- Approx Time on Market1 month, 11 days
- AreaN/A
- CountyMaricopa
- Subdivision Ambassador Hts 9-14
Overview
Extensively renovated 8-unit multifamily community located along the I-17 corridor in Central Phoenix. Originally constructed in 1958, the property recently underwent a comprehensive renovation program totaling more than $400,000 in capital improvements. Upgrades include replacement of all plumbing and the main sewer line, new electrical systems, a new roof, repaved asphalt, and fully renovated unit interiors, providing investors with a truly turnkey asset requiring minimal ongoing maintenance or near-term capital expenditures. The property features an attractive mix of studio, one-bedroom, and two-bedroom floorplans currently generating nearly $10,600 in gross monthly rental income, offering stable day-one cash flow with strong long-term upside. 7.82% cap rate on current financials.
Agriculture / Farm
Association Fees / Info
Community Features: No Pool
Hoa: No
Bathroom Info
Building Info
Construction Materials: Wood Frame, Painted, Block
Roof: Built-Up
Exterior Features
Financial
Owner Pays: Trash Collection,Water,Sewer,Landscaping
Insurance Expense: 4774
Garage / Parking
Parking Features: Paved, 1 Space/Unit
Interior Features
Flooring: Vinyl
Appliances: Built-In Range, Other, Disposal, Refrigerator, Microwave
Lot Info
Lot Size: 152 X 60
Number of Buildings: 2
Other School Info
Property Info
Road Surface Type: Asphalt
Zoning: R-3
Tax Info
Tax Legal Description: AMBASSADOR HTS PT LOT 4 E2 LOT 4 EX W 267.81' & EX S 150F & EX E 300F TH/OF & EX N 30F RD
Tax Amount Annual: 2493
Unit Info
Total Units: 8
Utilities / Hvac
Water Source: City Franchise
Electric: SRP
Cooling: Yes
Cool System: Electric, Individual
Heating: See Remarks, Electric
Heating: Yes
Sewer: Public Sewer
Waterfront / Water
Listings courtesy of Matthews Real Estate Investment Services
MLS# 7041284 