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1609 W Glendale Avenue - Villa Del Centro Condominiums - Villa Del Centro, Phoenix, AZ

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1609 W Glendale Avenue - Villa Del Centro Condominiums - Villa Del Centro

Phoenix, AZ 85021 - Hoffmantown MF Submarket

(348.8 KB)

Property Type:Multi-Family Number of Units:12 Status:Existing Year Built:1973
Stories:2 Building Size:12,908 SF Land Area:.17 AC (7,501 SF)
For Sale Price:$474,000 Price/Unit:$39,500.00 Cap Rate:6.60 % GRM:-


This property included 12-unit within the Villa Del Centro Condominiums.

Sale Notes:
2 3X 2 single level Town Home style 1096 square feet. $925.00 & $900.00 per month
4= 2 X 2 Flat 950 square feet @ 875.00 per month
1 = 2 X 2 $700.00 1 -2+2 @$650.00.
Actual Current monthly income $6,675.00
All units have balconies or fenced patios, covered Parking, 3 on site laundry facilities, monitored security cameras through out, on site security guards nightly, children's play ground. Close to shopping, bus lines and Light Rail. Schools and freeway I-17 close by.
HOA fees of $375.00 a month includes electric, water, sewer and trash. $375 X 8 = $3000.00 + $400 management expenses, $500 maintenance + $167 real estate taxes +
Current out of State owner only comes to Phoenix once a year. This property needs local hands on owner/ management and this property is a very positive cash flow situation. There are No vacancies.
Current owner recently invested $30,000+ into remodeling 8 units.
New 1 year leases on 6 units. 3 units are section 8 city guaranteed leases. 1 month deposit on each unit.
Real current numbers make this a 6 + cap with easy rent raise when leases renew.

Investors Commercial Realty
Mike Van Sickle
(602) 279-3000

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