$2,950,000
Flagstaff, AZ 86004
MLS# 188766
Status: Closed
11068 sqft
1 / 29
Property Description
Calling all investors! This rare opertunity to own a 24-unit apartment complex will not last long. Centrally located with no long term vacancies, this income producing property is a great addition to any investment portfolio. Studio, 1br and 2br units available with a common laundry room on site. Each unit has been remodeled and includes a gas wall heater, dishwasher, and gas range. Each unit size varies: studios ~300-400sqft, 1bd ~550sqft, 2 bd ~750-800sqft. Most APS is metered per building/area, gas is metered per building, water has 2 meters on property. Utilities uncluded in rent, except cabel/internet.
Details
Contract Information
List Price/SqFt: 266.53
Transaction Type: Sale
Status: Closed
Listing Agreement Date: 2022-02-25
Current Price: $2,950,000
Sold Price: $2,950,000
Property Sub-Type: Apt Building (9+ Units)
Location, Tax & Legal
Region: 40 - North East City
APN: 10706082
Cross Street: Arrowhead Ave
Legal Description: Lengthy, to be provided in escrow.
Zoned: HR
Taxes: 8994.68
Tax Year: 2022
County: Coconino
Area: 400 - Sunnyside
Street #: 1914
Direction: E
Street Name: Mountain View
Suffix: Avenue
City/Town Code: Flagstaff
State/Province: AZ
Zip Code: 86004
Geo Lat: 35.200502
Geo Lon: -111.620542
General Property Description
Year Built: 1935
Year Built Source: County
# of Units: 23
Key Words
Sale/Rent: For Sale
Net Op Inc: CLO
Cap Rate: CLO
Vacancy %: 0%
Down Payment: Submit
Imprv Sz (Gross SF): 6,000 - 47,999
Land Size: 1 - 1.9 AC
# Units: 9 - 64
Remarks & Misc
Directions: Route 66 to Arrowhead Ave. Left on Mountain View Ave. Apartment complex is on your right side.
Status Change Info
Sold Price/SqFt: 266.53
Financing: Conventional
Sold Date: 2022-05-18
Sold Price: $2,950,000
Inc/Exp (Annual)
Scheduled Income $: 210205
Vacancy Rate %: 0
+ Other Income: 2062.59
= Gross Op Income $: 212267.59
- Op Expenses $: 180497.45
= Net Op Income(NOI): 31770.14
To Show
Appt Only/CLO: 1
Drive By/Don't Enter: 1
No Sign on Prop: 1
Leases
Month to Month: 1
Other: 6 months to start
Util incld in Rent
Electicity: 1
Natural Gas: 1
Sewer: 1
Snow Removal: 1
Trash Collection: 1
Water: 1
Potential Terms
Cash: 1
Interior Amenities
Carpet/Tile: 1
Dishwashers: 1
Laundry Area: 1
Range/Ovens: 1
Smoke/Heat Det.: 1
Docs on File
Aerial Photo: 1
Current P & L: 1
Leases: 1
Exterior Amenities
Landscaped: 1
Laundry Room: 1
Porch/Patio: 1
Flood Zone
C-Minimal: 1
Lot Street Imprvmnts
Paved Parking: 1
Paved Street: 1
Utilities
City Water: 1
Electric: 1
Natural Gas: 1
Sewer: 1
Heating
Natural Gas: 1
Cooling
None: 1
Management
Owner/Family: 1
Construction
Frame - Wood: 1
Roof
Asphalt Shingle: 1
Currently Not Used
Approx SqFt: 11068
Property Features
To Show: Appt Only/CLO; Drive By/Don't Enter; No Sign on Prop
Leases: Month to Month
Util incld in Rent: Electicity; Natural Gas; Sewer; Snow Removal; Trash Collection; Water
Potential Terms: Cash
Interior Amenities: Carpet/Tile; Dishwashers; Laundry Area; Range/Ovens; Smoke/Heat Det.
Exterior Amenities: Landscaped; Laundry Room; Porch/Patio
Docs on File: Aerial Photo; Current P & L; Leases
Lot Street Imprvmnts: Paved Parking; Paved Street
Utilities: City Water; Electric; Natural Gas; Sewer
Heating: Natural Gas
Cooling: None
Construction: Frame - Wood
Roof: Asphalt Shingle
Flood Zone: C-Minimal
Management: Owner/Family
IDX
Listing Office: Flagstaff Top Producers R.E.
Last Updated: September - 06 - 2024
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