2051 E Michigan Ave - Apartments FOR SALE


Phoenix, AZ 85022- Paradise Valley North
$2,880,000 USD
602-663-5753
2051 E Michigan Ave, Phoenix, AZ for Sale
$2,880,000 USD
Apartments - FOR SALE
1/9
null | 6.88% Cap Rate

2051 E Michigan Ave
Phoenix, AZ 85022
Paradise Valley North


HIGHLIGHTS

  • These are single family homes all expenses paid for by the tenant. Water, Elect, etc

OVERVIEW

2 Buildings at 2051 E. Michigan Ave, 2 Buildings at 2045 E. Michigan Ave 2 Buildings at 2041 E Michigan Ave, Can sell 2, 4 or all 6. These are single family homes being marketed for sale individually for $489,000 each. A rental rate of $2750/mo for each unit is a conservative rental rate, but would list them for higher to start. Electric and Water can be passed through to tenants, all sep metered. NOI is listed as total GROSS Income

FOR SALE DETAILS

PRICE

$2,880,000 USD

PRICE/SF

$900 USD /SF

# OF UNITS

6

PRICE/UNIT

$480,000

CAP RATE

6.88%

% LEASED

-

STATUS

Under Construction

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Michigan Avenue Homes

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2026

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

7,112 SF

ZONING

-

APN/PARCEL ID

214-71-154

ASK ABOUT THIS PROPERTY

Scot WendorfSource RE ServicesMore Info
602-663-5753

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Scot WendorfSource RE ServicesMore Info
602-663-5753

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.