2222 E Garfield Phoenix AZ 85006-remodeled from the ground up 4 plex $1,395,000 C of O should be approx. 60 Days

The Property

🏡 Investment Opportunity: Prime Real Estate with High Potential

Introducing a lucrative investment opportunity in the heart of Phoenix, presenting a meticulously renovated 4-unit property poised to deliver exceptional returns. Situated in a highly sought-after area, this property is strategically positioned near hospitals, ensuring a steady flow of potential tenants seeking convenient accommodation. With a Certificate of Occupancy expected by the end of May, this property promises immediate rental income upon acquisition.

Property Overview:

Unit Mix:
- 1 x 3 Bedroom, 2 Bath
- 2 x 2 Bedroom, 1 Bath
- 1 x 1 Bedroom, 1 Bath
Complete Renovation: Total gut and remodel, ensuring a modern and attractive living space.
Key Improvements:
- New Plumbing, Electric, and Roof with Reinforced Joists
- New Flooring, Air Conditioning, and Exterior Stucco
- New Concrete Walkways and Parking Spaces for Tenant Convenience
- New Dual Pane Windows and Exterior Doors for Energy Efficiency and Security
- New Ceiling Fans in Living Room and ALL Bedrooms for Comfort
- New Landscaping for Enhanced Curb Appeal
- New Cabinets, Bathrooms, and Stainless Appliances for Modern Living
- New Quartz Countertops for a Sleek Finish

Investment Highlights:

High Demand Location: Proximity to hospitals ensures a consistent pool of potential tenants, including healthcare professionals and staff.
Turnkey Investment: With permits closed and a comprehensive renovation nearing completion, investors can expect immediate rental income without the hassle of further improvements.
Diverse Unit Mix: Catering to various tenant preferences, including families, professionals, and individuals, maximizing occupancy rates and rental income potential.
Quality Craftsmanship: Renovation carried out with meticulous attention to detail and quality materials, ensuring durability and tenant satisfaction.
Attractive Amenities: Modern amenities such as ceiling fans, stainless appliances, and quartz countertops offer tenants a comfortable and stylish living experience.
Strong Rental Market: [Location] boasts a robust rental market, offering stability and potential for long-term capital appreciation.

Investment Strategy:

Immediate Income Generation: Start earning rental income as soon as the Certificate of Occupancy is issued, maximizing return on investment.
Long-Term Appreciation: Capitalize on the property’s potential for appreciation in value, driven by its prime location and high-quality renovations.
Tenant Retention: Provide exceptional living standards to attract and retain quality tenants, ensuring consistent cash flow and minimal vacancy rates.

Don’t miss out on this exceptional opportunity to invest in a newly renovated property with immense income potential. Contact us today to learn more and secure your position in this thriving real estate market.

Virtual Tour-Check it out!

If you‘re interested in exploring the features of this property without leaving the comfort of your home, I highly recommend checking out the virtual tour. By clicking on the link provided, you’ll have the opportunity to experience a 360-degree view of the property, giving you a more immersive and interactive perspective. So why not take advantage of this convenient and innovative tool and discover what this property has to offer?

Location

The Garfield Historic District contains primarily modest bungalows and Period Revival style homes but it also includes a noteworthy concentration of older turn-of-the-century structures, including the largest concentration of “Pyramid Cottages” in Phoenix. The neighborhood provides a sampling of architectural styles from the earliest vernacular homes in Phoenix to the early Ranch-style homes that would become prevalent following World War II. Garfield was developed from 1883 to 1955. The neighborhood was one of the first additions to the original Phoenix townsite. It is also an excellent example of a “streetcar subdivision,” where residential development was directly related to the establishment of a streetcar line through the neighborhood. Before becoming a residential area, the Garfield Historic District was part of an extensive agricultural tract. The area was farmed by John T. Dennis, a pioneer settler who emigrated from Ohio in 1868. As Phoenix grew, Dennis saw the value of his land for future residential development. The original subdivision was platted with a rectilinear street grid clearly based on the original townsite layout. The Dennis Addition was recorded with Maricopa County on Nov. 16, 1883, and was annexed into Phoenix in 1899.Many municipal improvements stimulated development in the Dennis Addition during the late 1800s. The first city well and pumping plant was located on a block of land at the northeast corner of 9th and Van Buren streets. One vernacular brick building related to the pumping station is still standing at the northwest corner of Verde Park near the corner of 9th and Polk streets. The Phoenix Street Railway built the first powerhouse just to the west of the pumping plant. In 1895, the Phoenix Street Railway extended their streetcar line through the Dennis Addition. Called the Brill Line, it ran along Pierce Street to 10th Street and then north to the Brill Addition, which was located just north of the Dennis Addition. Both Dennis and Frederick Brill, the owner of the Brill Addition, were investors in the extension of the line. Virtually all of the early streetcar lines were backed by large landholders in order to promote land sales in the new subdivisions. The Dennis Addition itself was subdivided repeatedly in the following decades. The growth of the neighborhood as a solid residential area in the 1920s encouraged the establishment of local businesses and other institutions. Six of the seven churches located in the Garfield neighborhood were constructed between 1925 and 1931. Commercial establishments and small businesses also flourished at that time, particularly at the corner of 10th and Pierce streets where the streetcar line turned north.

$1,395,000

Sale Price

To Come

Gross Operating Income

To Come

Operating Expenses

To Come

Net Operating Income

To Come

Cap Rate

Offering Memorandum and Marketing Flyer

To access the Offering Memorandum or the one page Flyer, simply click on the button located below. From there, you’ll be able to download the document in PDF format.

Our Offering Memorandum is an essential resource for anyone who is considering investing in our opportunity. It includes all the necessary information, such as the investment terms, potential risks, financial projections, and more. By reviewing this document, you’ll have a complete understanding of what the investment entails.

If you have any questions or would like to learn more about our investment opportunity, please don’t hesitate to reach out to us. We’re always happy to answer any questions and provide you with the information you need to make an informed decision.

Thank you for considering our investment opportunity, and we hope to hear from you soon!

One Page Flyer Offering Memorandum