8816 N 6th Place Phoenix AZ 85020-6 Units-Stablized-Non Comforming (Call to define) $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 – Property Manager says it practically runs itself. There are 6 units collecting rent with laundry room income in place. In 85020 the prices are climbing, with a great rental market. This is a non-conforming property. Easy to insure. Newer roof, master metered, and easy to maintain landscaping. See the Doc tab for current financials and rent roll along with much more. This is a drive by only property but feel free to walk the property. Buyer to verify all facts and figures.

• Over 100K in upgrades
• 6 Units w/ Tenants paying High Rents
• Master Metered
• Ceramic Tile or Laminate Flooring
• Modern Exterior Paint
• Air Conditioned Units
• Modern Cabinetry
• Additional Income from Laundry Room
• Easy Maintenance Landscaping

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

Sunnyslope is a unique community of Phoenix, lying seven miles north of Downtown Phoenix. It is nestled in the foothills of the North Mountain range. Sunnyslope’s borders are just north of the Arizona Canal and south of North Mountain, and from 19th Avenue in the West to the Mountains in the east. Sunnyslope is a community that continues to develop its own unique flavor. It is currently home to of some of the best Mexican cuisine from Oaxacan region, and sustains a sizable number of creatives that include architects, artist, fabric designers, interior designers and musicians. A new generation of individuals seeking the freedom of expression and tolerance for difference has settled in the area, making Sunnyslope Arizona one of the most intriguing midcentury neighborhoods of all time.

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).

$575,000

Sale Price

$60,928

Net Operating Income

$17,429

Operating Expenses

$43,468

Net Operating Income

7.56%

Cap Rate