GENTLE ACRES
Property • Multiple Dwellings
Web ID # 6865522
$899,000.00
Beds • 0 Baths
Property Features
Arizona Regional Multiple Listing Service (ARMLS)
Rare offering in a quiet North Central PHX neighborhood. Very hard to find $225/SF. Minutes to Paradise Valley Village, Desert Ridge & Scottsdale. No HOA. Huge units! Three 2 bed/1 bath units (950 sf /-) paired with a 3 bed/2 bath unit (1150 sf /-). 4000 total sf. 11,975 sf lot. R-3 zoning. 20 year local owner has self-managed. Rents are very low at $1000/$850/$850 (2 bed units) & $1450 (3 bed unit). $49,800/yr +$1200 seller-owned w/d units/late/pet/misc = $51,000 gross/yr. 5 CAP +/-. $1500/unit or more rents are viable. 100% occupied with all month-to-month leases. All long-term tenants with no recent rent increases. This complex has great bones with some upgrades. Two units had kitchen/bath/lighting/painting upgrades in 2022. Newer HVAC/WH in 1 unit. Value-add opportunity.
1/2 mile east of the 51 and just south of Union Hills Dr.
Dwelling Type: Multiple Dwellings
Subdivision: GENTLE ACRES
Year Built: 1980, County: US
1/2 mile east of the 51 and just south of Union Hills Dr.
Virtual Tour
Listing is courtesy of Better Homes & Gardens Real Estate SJ Fowler
