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357 Rio Grande Ct - Fully Occupied Fourplex 4 Unit Apartment Building Offered at $459,900 at a 7.41% Cap Rate Bullhead City, AZ 86442
Investment Highlights
- Easy to rent, affordable
- Newer a/c units
- Open layout
Executive Summary
Turnkey investment opportunity with strong cash flow and solid returns. This fully leased fourplex features four identical 1-bedroom, 1-bathroom units, each approx. 624 sq ft, with easy-to-maintain tile flooring and newer A/C units. Current rents total $3,350/month, with tenants paying electric while owner bills back water/sewer/trash. Annual gross income of $40,200 and estimated NOI of $34,050 offer an attractive 7.25% cap rate at the $469,900 asking price. High rental demand in this affordable segment, plus a convenient multifamily-zoned location near the Colorado River, make this a smart addition to any portfolio. Was recently renovated for the interior units
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $459,900 | Lot Size | 0.10 AC |
| Price Per Unit | $114,975 | Building Size | 2,496 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 7.41% | No. Stories | 2 |
| No. Units | 4 | Year Built/Renovated | 1985/2022 |
| Property Type | Multifamily | Parking Ratio | 1.6/1,000 SF |
| Building Class | C | ||
| Zoning | Multifamily | ||
| Price | $459,900 |
| Price Per Unit | $114,975 |
| Sale Type | Investment |
| Cap Rate | 7.41% |
| No. Units | 4 |
| Property Type | Multifamily |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 2,496 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1985/2022 |
| Parking Ratio | 1.6/1,000 SF |
| Zoning | Multifamily |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Tile Floors
- Kitchen
- Refrigerator
Site Amenities
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $825.00 | 624 |
Property Taxes
| Parcel Number | 219-17-094 | Total Assessment | $347,797 (2026) |
| Land Assessment | $19,854 (2026) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $327,943 (2026) | Tax Year | 2024 |
Property Taxes
Parcel Number
219-17-094
Land Assessment
$19,854 (2026)
Improvements Assessment
$327,943 (2026)
Total Assessment
$347,797 (2026)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Presented by
Kenneth L. Sondgeroth Realtor
357 Rio Grande Ct - Fully Occupied Fourplex
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