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Multi Family Residence
4 Units | All 2BR/1BA | ~650 SF/Unit | Built 1983DEAL SNAPSHOTCurrent Gross Rent: $4,430/moCurrent Annual Rent: $53,160Pro Forma Rent: $5,300/moPro Forma Annual Rent: $63,600Gross Rental Upside: +$10,440/yearBroker Pro Forma NOI: $49,001/yearRenovated: 3 of 4 units (One unit had a leak and needs to be repaired and replaced) Electric: Separately meteredOwner Pays: Water / Sewer / TrashRENT ROLL$10,440 IN IDENTIFIED ANNUAL RENTAL UPSIDEWHY WE LIKE THE DEAL3 of 4 units already renovatedClear path to increasing rents toward $1,325/unit$870/month potential increase over current scheduled rentsAll units separately metered for electricityOwner utilities limited to water, sewer & trashTwo HVAC systems replaced within approximately the last 2–4 yearsDowntown Phoenix urban infill location near the Garfield Historic DistrictClose proximity to Roosevelt Row and Downtown PhoenixExisting income from day one with additional value-add potentialVALUE-ADD PLAYThe heavy lifting has already been completed on three units.An investor has the opportunity to finish the remaining unit, push rents as leases turn, and work toward the broker’s projected $5,300/month / $63,600 annual gross income.There may also be additional amenity upside through laundry improvements, as the property currently does not offer in-unit washer/dryer facilities.PRO FORMA OPERATIONSGross Scheduled Income: $63,600Vacancy (3%): ($1,908)Effective Gross Income: $61,692Insurance: $2,250Taxes: $1,803Utilities: $4,320Repairs & Maintenance: $4,318Total Expenses: $12,691Projected NOI: $49,001Current Rent Roll: 1 – $1095 (Recently vacant) 2 – $1,140 3 – $1,145 4 – $1,050 (Where the water leak is coming) ProForma 1 – $1,325 2- $1,3253- $1,325 4- $1,325 Financial information above is based on the broker’s offering memorandum and should be independently verified by buyer.IDEAL BUYERValue-add multifamily investor • Buy-and-hold investor • BRRRR investor • Small multifamily operator • Downtown Phoenix investorACCESS: Appointment Call Us Today
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Disclaimer:
House is being sold as-is, and the buyer is to pay all closing costs. 5,000 EMD. Non-Refundable earnest money to be deposited within the same business day contract is executed or the contract will be canceled. Buyer must close with cash or a hard money loan.
The buyer is not relying on any representations, whether written or oral, regarding the properties above. Price based on a cash or hard money offer and is net to seller. Buyers to do their own independent due diligence.
Buyer must do your own due diligence, evaluation and inspection prior to making an offer. Determining value is the buyer’s responsibility. Seller strongly recommends buyers employ an Investment Realtor to help determine value. Any reference to the value of a property by the Seller or any representative of the Seller is an opinion of value. Everyone has a differing opinion on value, cost of construction, materials, quality of workmanship and market speculation. Value is ultimately the buyer’s responsibility and they should be diligent in determining market value.
REALTORS:
If you are currently working with a client, and wish to receive a commission, please note that the wholesale price does not include your commission. You may want to negotiate a commission with your client separate from the wholesale price or you may adjust the wholesale price upwards to include your commission.
WHOLESALERS:
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