Investment Opportunity: Fully Occupied Multifamily Property

Address: 2122-2124 W Augusta Ave, Phoenix, AZ 85021
Price: $1,990,000

Property Overview:

Two Parcels - This investment opportunity consists of two fully occupied parcels, providing stable income with minimal vacancy risk.

Fully Occupied - All units are currently rented, ensuring consistent rental income from day one.

Residential Loan Flexibility - These properties can be purchased using two residential loans, offering potential for favorable financing options for investors.

List of Recent Capital Improvements:

HVAC Upgrades:

Installed 1 ton mini-split AC in studio

Replaced all AC vents and returns in all units (27 vents, See Additional Information Investment Opportunity: Fully Occupied Multifamily Property

Address: 2122-2124 W Augusta Ave, Phoenix, AZ 85021
Price: $1,990,000

Property Overview:

Two Parcels - This investment opportunity consists of two fully occupied parcels, providing stable income with minimal vacancy risk.

Fully Occupied - All units are currently rented, ensuring consistent rental income from day one.

Residential Loan Flexibility - These properties can be purchased using two residential loans, offering potential for favorable financing options for investors.

List of Recent Capital Improvements:

HVAC Upgrades:

Installed 1 ton mini-split AC in studio

Replaced all AC vents and returns in all units (27 vents, 7 returns)

Appliances:

Upgraded to new stainless steel appliances in all units, including fridges, ranges, microwaves, and dishwashers (note: ice makers on backorder)

Bathroom Renovations:

Installed new toilets, faucets, shower valves, water lines, and P-traps

Upgraded bathroom hardware including towel holders, toilet paper holders, and hand towel holders

Installed new tubs and bathroom exhaust vents

Kitchen and Bathroom Finishes:

Fitted new 40" vanities in bathrooms with quartz countertops

Installed subway tile backsplash in kitchens with 3/8" stainless steel trim

Interior and Exterior Painting:

Freshly painted both buildings with unknown colors (exterior)

Interior walls painted with ceiling white; baseboards and door trim in semi-gloss white

Electrical and Plumbing Enhancements:

Upgraded electrical panels in Building #1

Installed new outlets, switches, and light fixtures throughout units

Replaced plumbing systems as per new kitchen and bathroom designs

Flooring and Interior Upgrades:

Installed porcelain wood-like tile flooring throughout all units

Replaced interior doors with pre-hung doors and stainless steel handles

Exterior Enhancements:

Landscaped with three-quarter-inch gravel and artificial grass

Added pavers, irrigation system with timer, and 14 new Vankas plants

Built barn-style wooden fence and replaced fence panels with gates

Roofing and Siding Improvements:

Replaced roofing on both buildings with new shingles, underlayment, and flashing

Installed energy-efficient windows and replaced siding on Building #1

Additional Features:

Installed new exterior doors with locks and mailbox stucco finished for all units

Termite treatment completed with pest control measures

Investment Highlights:

Fully Occupied: Stable rental income from all units.

Recent Renovations: Extensive upgrades ensure minimal maintenance and attractive living spaces.

Prime Location: Close proximity to amenities, schools, and transportation hubs.

Residential Loan Purchase: Potential for financing using two residential loans, providing advantageous terms for investors.

Potential for Increased Value: With recent upgrades and tenant satisfaction, there's room for potential rent increases.

Price: $1,990,000
Disclaimer: Buyer to verify all facts and figures.