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2216 N 16th Street - Westwind Apartments, Phoenix, AZ

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2216 N 16th Street - Westwind Apartments

Phoenix, AZ 85006 - Coronado/Good Samaritan MF Submarket

(2.3 MB)

Property Type:Multi-Family Number of Units:11 Status:Existing Year Built:1946
Stories:1 Building Size:3,794 SF Land Area:.28 AC (12,066 SF)
For Sale Price:$530,000 Price/Unit:$48,181.82 Cap Rate:7.40 % GRM:-

Parking:2.89 Parking Spaces / 1,000 SF

Sale Notes:
C-2 zoning, 16th St Arts District, always occupied with a
waiting list! Perfect for downtown-loving tenants,
there' s an art house and coffee shop right next door.
Tenants walk to national award-winning Barrio Café
and Coronado' s entertainment venues. In between
Banner Health and the newly expanding Phoenix
Children' s Hospital. The building has new roofs, newer
AC' s, copper plumbing, recoated parking lot, and most
units have been renovated. All utilities are master
metered, but the units are so efficient that full utilities
average only $90/unit! Just bring older leases up to the
latest achieved rents and push the proforma cap rate
to 8%!

GPCI Multifamily
Terry Kass
(602) 703-5277

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