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MFListing.com, The Premiere FREE "Flea Market" For MultiFamily and Commercial Properties
Cash Flow - Greater Phoenix
Number of Units: 4
Address: 557 & 527 N Main St
City: Coolidge
State: Arizona
Zip: 85228
Country: United States
Sale Price: $240,000
Status: Active
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Year Built: 1939
Unit Mix: Every size! (1) 3/2; (1) 2/1; (1) 1/1, (1) studio apt.
Stories: 1
Total Actual Rent/Month: $1,600
Owner Pays: Lawn maint on both ($20/mo); water/trash/sewer on smallest 3 units is consistently $76/mo.
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Building Size (sqft): 2,450
Roof Status: Good
Foundation: Combination of Concrete Slab & Crawlspace
Lot Size: 12,000+
Meters: Electric separate, Gas separate
Utilities: Electric, natural Gas, Water,
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Full Description: This property package consists of two adjoining lots consisting of two individual houses plus a duplex. Lot one has a 3 bed, 2 bath, with a huge 2.5 car garage (tan house, rented at $700/mo). Lot two has a 2 bed, 1 bath home (white/pink house w/ big trees, rented at $500/mo), PLUS a duplex consisting of a 1 bed, 1 bath on one side (rented at $400/mo), and an unfinished studio apartment on the other ($0/mo). Rents NOW at $1600/mo ($700+$500+$400)! Rent at the $500/mo is increasing to $525 in April 07, tenant already been notified. Studio apartment, when completed, will rent for an additional $300-325/mo. Rents can total $1925-$1950/month!. These properties are well maintained, have great long-term tenants, priced right and in an up and coming area. Lots are both zoned R-3. A Westcor mall is coming nearby, along with much more! Coolidge is only 45 minutes from Phoenix and even closer to the East Valley. Properties can also be sold separately - Lot 1 for $113k, Lot 2 for $127k. In this market, this is one rare deal that actually makes sense!!
Justin Newman, Owner
(602) 307-0600 work
Financial Year: 2006
Scheduled Gross Income: $1,600
Vacancy Rate (%): 3
Annual Property Tax: $855
Annual Mantenance Cost: $0
Insurance: $1,060
Property management (%): 0
Other Expenses: $1,152
Net Operating Income: $15,649
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Unit/Community Features
Air Conditioning
Carpeted Floors
Dishwasher
Gas Range
Hardwood or Tile Floors
Washer/Dryer
Washer/Dryer hook-up
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Listing Agent/Owner
Listed by: Justin
Newman
Phone: (602) 307-0600
This listing has been viewed 2716 times.
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