Embarc AZ
azhomes@embarcrealty.com21222124 W Augusta Avenue Phoenix, AZ 85021
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Vista Income Estates
MLS Listing ID 6852653
Maintenance Fees $1,750
Year Built 1947
Annual Tax Amount $2,016
Tax Year 2024
Lot Dimensions irr
Source Arizona Regional Multiple Listing Service (ARMLS)
Property Description
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.
Location
State AZ
County Maricopa
Community Vista Income Estates
Zoning R-3, R-4
Direction Turn south from Northern. At Augusta turn east and property is on the north side of the street. Be sure on a drove by to go through the u Shaped Driveway.
Interior
Heating Individual, Heat Pump
Cooling Ceiling Fan(s), Heat Pump, Individual
Flooring Ceramic Tile
Appliance Free-Standing Range, Disposal, Dishwasher, Refrigerator, Microwave, Washer/Dryer
Exterior
Parking Features Paved, Free, >1 Space Per Unit
Community Features No Pool
Roof Type Composition
Building
Sewer Public Sewer
Water Master Meter, City Franchise
New Construction No
Others
Senior Community No
Tax ID 157-21-016-C
Acceptable Financing Other (See Remarks), No Carry, Conventional
Listing Terms Other (See Remarks), No Carry, Conventional
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Embarc AZ