1721 S 4TH Street, Phoenix, Arizona
1721 S 4TH Street, Phoenix, Arizona 85004 - 8 apartments and 4 manufactured units on this property. Remodeled with new month to month leases in place. FULLY OCCUPIED - All units are filled and there is waiting list. Tenants are mostly fixed income and faithfully pay on time. Rents are an average of $442/mo with some new leases at $500 mark. Current ownership has not implemented rent increases throughout the complex, yet has prepared the tenants for the inevitable increase .... which will yield increased CAP. Not super beautiful ... just makes money. With current rents/expenses the CAP is solid 16%. PLEASE SCHEDULE APPOINTMENT TO VIEW. Seller has added coin operated laundry facility and soda machine which will convey - neither are calculated in the CAP.
Listing Courtesy of My Home Group Real Estate, LLC