5038 N 18th Avenue, Phoenix, AZ 85015
- $570,000
- 9
- BD
- 3
- BA
- List Price
- $570,000
- Status
- ACTIVE
- Days on Market
- 0
- MLS#
- 7090472
- City
- Phoenix
- Bedrooms
- 9
- Bathrooms
- 3
- Year Built
- 1984
Property Description
Remodeled 3-unit PadSplit investment near Valley Metro Rail at 19th Ave/Camelback. Two buildings total approximately 2,276 SF and are configured as nine furnished rentable rooms across three 3BR/1BA units. Seller reports $120,000+ in improvements, including updated kitchens, baths, flooring, windows, plumbing, electrical, lighting, coded entry and full-size laundry. At $205 per room weekly, underwriting projects $95,202 GPI, $52,820 NOI and a 7.56% cap at the $699,000 asking price after 7% vacancy. Furnishings convey as-is. Buyer to verify all facts, figures, PadSplit operations, permits and compliance.
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Additional Information
- Taxes
- $1,615
- Net Operating Income
- $52,820
- Cap Rate
- 9.27
- Units
- 3
- Parking Features
- Free, On Street, >1 Space Per Unit, Off Street
- Construction
- Brick, Painted, Board & Batten Siding
- Roofing
- Composition
- Cooling
- Heat Pump, Electric, Varies by Unit, See Remarks, Ceiling Fan(s)
- Heating
- Electric, Natural Gas, Heat Pump, Varies by Unit, Forced Air
- Zoning
- [R-3] Multiple
- Subdivision
- Nile Tract Block 1
- Community Features
- No Pool
- Electric
- Individual Meter, SRP
- Water
- Master Meter, City Franchise
- Sewer
- Public Sewer
- Tenant Pays
- None
- New Financing
- Conventional, No Carry, Cash
Courtesy of Gerchick Real Estate. 602-688-9279
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