SUBURBAN GARDENS 2
Property • Multiple Dwellings
Web ID # 6922706
$825,000.00
0 Beds • 0 Baths
Property Features
Arizona Regional Multiple Listing Service (ARMLS)
TURNKEY, Cash-Flowing, Well Maintained, Fully Leased & Remodeled 4-plex in Prime Mesa Location near Downtown & only 3 blocks from Stapley/Main Light Rail
Station. Each large Fully Remodeled Unit has 2-bedrooms, 2-baths & 1,004 sq. ft.
Upgrades include New Luxury Vinyl Plank Flooring in the Living areas and carpeting in the bedrooms. Also New Shaker Cabinets, Appliances, New Interior Trim, Doors & Interior Paint. Complete Roof
Replacement in 2021, Newer Entry Deck Surfacing for 2nd floor Units C & D, New
Composition Mansard Roof Walls, and New Masonry Block Privacy Fencing. First floor units have Private Yards & Covered Patios. HVAC Units and Water Heaters are Newer With over $150k Invested in improvements. No HOA. **Please Do Not Disturb Tenants - Drive By Only!** Each Unit has One Covered Parking Space plus a 2nd uncovered Space and a Storage Unit. Units are Currently Rented at Market Rate with Strong Tenant Occupancy. Upstairs Units Lease for $1,400/month & Downstairs Units for $1,495/month, Producing a Gross Monthly Income of $5,790 ($69,480 Annually) plus laundry room income and a 7.14 Cap Rate. The On-site Laundry is not only convenient but produces additional revenue annually of $1280.
Truly an Excellent Investment with Updated Units, Stable Rents, and a Prime Location near Mesa's Growing Downtown Corridor. and Great for Seasoned or New investors **PLEASE DO NOT DISTURB OCCUPANTS**
North on Stapley and West on 2nd St
Dwelling Type: Multiple Dwellings
Subdivision: SUBURBAN GARDENS 2
Year Built: 1973, County: N/A
North on Stapley and West on 2nd St
Listing is courtesy of Better Homes & Gardens Real Estate SJ Fowler
