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Browse More Listings in Multifamily For Sale, Phoenix, AZ or Arizona

Multifamily Property For Sale

MARKET + 14 APARTMENT RENTALS

1605 W. Latham Street, Phoenix, AZ 85007

Price:
$650,000
No. Units:
14
Building Size:
5,400 SF
Price/Unit:
$46,428.57
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Commission Split:
4%
Cap Rate:
12%
Gross Rent Multiplier:
7
Occupancy:
92%
No. Stories:
1
Year Built:
1936
Lot Size:
11,220 SF
Tax ID / APN #:
111-16-056
Find Out More...

Last Verified 10/23/2009 Listing ID 16444656

Highlights

Gated Complex is clean and updated
Store has office, full kitchen, bath & shower
Unique Downtown location with C3 zoning

Income is based on limited hours of operation and can be extended
Great opportunity for owner/operator

Description

Market + 14 apartments. Fantastic business opportunity with excellent cash-flow. Current owner has spent the past four years operating, renovating, and establishing a clean, functional and PROFITABLE cash business. This is truly a turn-key mom & pop operation. 2 lots, combine hard to find C-3 and R5 zoning. The market, while profitable, can be improved by extending hours of operation and adding EBT or cash services as store was designed for check cashing with BP glass and vault. Store can also be converted to living quarters as it has RV parking and Kitchen/bath/shower. Gated Rental units are clean and rent easily weekly/monthly. Some tenants have been here for years. Located on Grand Ave, near down town and arts/cultural areas. Bring all dreams and offers. No disappointments. OMC, includes APN 111-16-054. All figures and information represent Market+ apartments and are aproximate, buyer to verify. See Property Flyer.

Phoenix, AZ

Financial Summary

Actual
Net Operating Income
$94,000

Map of 1605 W. Latham Street, Phoenix, AZ 85007 (Maricopa County)

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Presented by

AZ Real Estate Group

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Contact Listing Broker

Stephen Chylko, Jr. (602) 995-4122

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Created 10/23/2009

Additional Information for 1605 W Latham Street, Phoenix, AZ 85007

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 3 Historic Listings
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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Multifamily Property For Sale - MARKET + 14 APARTMENT RENTALS

1605 W. Latham Street, Phoenix, AZ, 85007