8816 N 6th Place Phoenix AZ 85020-120K in Upgrades and Stabilized 6 Units $575,000

8816 N 6th Place Phoenix AZ 85020-114K in Upgrades and Stabilized 6 Units $575,000

The Property

Look at the HIGH Rent Roll. FULLY occupied and Property Manager says it practically runs itself. Owner has spent over 120K on rehab! There are 6 units collecting rent with laundry room income in place. 85020 the prices are climbing and the area is a great rental market. All Tile floors, new large hot water heater. New Landscaping along with much more. See the listing of capital improvements. This property is master metered and the lender has a loan. This is non-conforming property. Insurable and financianable. See the Doc tab for current financials and rent roll along with much more. Buyer to verify all facts and figures.

The Virtual Tour

Please view the Virtual Tour and please call with any questions. As this property is fully occupied, it was not able to obtain the interiors of the units.

Location

This area is moving up in the world.

The population of Sunnyslope represents the most diverse socio-economic neighborhoods of Phoenix. Many of the wealthiest and most politically active persons (past mayors, councilmembers, and business leaders) in the valley and many of the most financially vulnerable in the Phoenix area live in Sunnyslope. John C. Lincoln Health Network, a two-hospital network of primary, specialty, ambulatory, and emergency care providers, grew out of the Desert Mission community medical center. (A 2013 merger with Scottsdale Healthcare resulted in the combined entity being known as HonorHealth by 2015.) John C. Lincoln Health Network is the largest employer of Sunnyslope and the surrounding neighborhoods. Desert Mission Services continues to meet the basic needs of the community through the Desert Mission Food Bank, the Desert Mission Children’s Dental Clinic, Desert Mission’s Marley House Behavioral Health Clinic, Lincoln Learning Center, a nationally accredited child development and learning facility, and Desert Mission Neighborhood Renewal (a neighborhood-based Community Development Corporation).

In April 2011, Sunnyslope was the featured community for the Modern Phoenix Home Tour, shedding light on the number of prominent architects and other creative individuals who have chosen to develop (and live in) properties in the community.

$575,000

Sale Price

$61,200

Annual Rental Income

$17,320

Operating Expenses

$42,444

Net Operating Income

7.40%

Cap Rate