$730,000
$715,000
2.1%For more information regarding the value of a property, please contact us for a free consultation.
SOLD DATE : 11/30/2023
Key Details
Sold Price $730,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Northern Lanai Unit 1
MLS Listing ID 6619662
Sold Date 11/30/23
Maintenance Fees $5,217
Originating Board Arizona Regional Multiple Listing Service (ARMLS)
Year Built 1974
Annual Tax Amount $2,035
Tax Year 2023
Lot Dimensions IRR
Property Description
The Northern Ave fourplex is a great investment opportunity with an impressive 6.9% Cap Rate. The property has frontage on Northern Avenue, providing convenient access to multiple retail centers, restaurants, and nearby freeways. The property consists of three 2-bedroom, 1-bathroom units and a spacious 3-bedroom, 2-bathroom unit. Two units have received complete renovations within the past two years. There are two shared garages and on-site laundry facilities. The property currently has below-market rates, with the potential to increase the value of two units within the next two months.
Location
State AZ
County Maricopa
Community Northern Lanai Unit 1
Zoning Multi
Direction I-17 and Northern, west to property just prior to 35TH Ave on the North Side of the street
Interior
Flooring Carpet, Ceramic Tile, Vinyl
Appliance BI OvenRange
Exterior
Garage Paved Parking, Add'l Parking Avail, >1 Space Per Unit
Community Features Pool
Waterfront No
Roof Type Composition
Parking Type Paved Parking, Add'l Parking Avail, >1 Space Per Unit
Total Parking Spaces 8
Garage Yes
Building
Sewer Public Sewer
Water City Franchise
Schools
Middle Schools Palo Verde School
School District Phoenix Union High School District
Others
Senior Community No
Tax ID 150-09-869
Acceptable Financing No Carry, Conventional, 1031 Exchange
Listing Terms No Carry, Conventional, 1031 Exchange
Financing Other
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