210 E JONES Avenue, Phoenix, Arizona
210 E JONES Avenue, Phoenix, Arizona 85040 - Motivated seller and priced to sell! This 12-unit property is a consistent cash flow opportunity with several long-term tenants. The property includes 10 one-bedroom units, a two-bedroom / one-bathroom house, and a three-bedroom / two-bathroom house. 210 East Jones Avenue has newer roofs, newer plumbing, and the owner recently added covered parking. Additionally, the exterior plumbing line was replaced under the current ownership. The property boasts an in-place CAP rate of 9.04% with the ability to raise operations to a 9.68% CAP based off proforma projections. The owner currently provides free rent to one unit where the property manager/ maintenance man resides. He is willing to stay on board and continue if the new owner decides to maintain this arrangement.
Listing Courtesy of ABI Multifamily