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14789801
14789800

8916 North 11th St, Phoenix, AZ 85020

LG
AZ BR1114848000, AZ BR114848000
Gerchick Real Estate
Listed by Gerchick Real Estate
$545,000
860 days on market
Updated 72 days ago

Duplex w/plans in rear parcel to build a 4 plex

Details
APN 160-02-067
Property Type Multifamily
Sub Type Apartment Building
Square Footage 2,049
Net Rentable (SqFt) 2,049
Units 2
Cap Rate 3.74%
NOI $20,357
Pro-Forma Cap Rate 5.32%
Pro-Forma NOI $28,990
Price per SqFt $266
Class B
Year Built 1964
Buildings 1
Stories 1
Lot Size (SqFt) 8,714
Zoning R-4
Ownership Fee Simple

Remember that the additional lot with the entitlements are included

Marketing description

Searching for the perfect investment opportunity in the charming Sunnyslope neighborhood of Phoenix? Look no further! We are excited to introduce you to a unique property that combines the charm of a duplex with the potential to build a fourplex, all in the heart of Sunnyslope, with fantastic amenities and employment opportunities nearby.

**Property Details:**

- 2 Units individually metered for Electric

- Condition: Excellent

- Lot Approval: Ready to Build a Fourplex-all reports and plans included

- Nearby Amenities: Beautiful Park Across the Street

**Duplex Features:**

- Impeccably maintained

- Spacious living areas

- Private outdoor spaces

- Ideal for both owner-occupants and investors

**Fourplex Potential:**

- Approved lot for a fourplex

- Capitalize on the strong demand for multi-family units

- Increase your rental income and investment portfolio

**Neighborhood Highlights:**

- Proximity to top employers in the area

- Convenient access to major highways

- Excellent schools nearby

- Thriving local businesses and restaurants

- Beautiful park right across the street, perfect for outdoor activities

For the 4 plex that will transfer as well

  • Lot variances previously approved. Easily renewed.

  • Pre-application plans reviewed and approved by city

  • Site Plan completed and stamped by engineer

  • Civil engineering plans including Grading and drainage, Fireline plans and private water and sewer plans all underway

  • Building plans started, will be completed when site plan is approved.

  • Electrical and mechanical contracted, final step of building plans

attached Site plan, Civil plans and the invoice for the building plans. There is some minor work that needs to be completed before the building plans and Mechanical and plumbing can be finished. We have sent an email to stimulate progress on this work again.

There will need to be some Civil engineering/planning completed we will work on that for fireline, Water/sewer and updates to grading and drainage plans.

Building plans will be worked on and completed in the coming weeks. I have attached the invoice for the firm.

In summary -

The outbuilding was demolished and removed from the property

The back lot is separate and has a separate address filed with the City - 8918 N 11th St

Variances for drive lane and minimum lot size have been successfully filed, they will need to be renewed

Site Plan is completed

Civil drawings for Grading and drainage are completed, require minor updates

Civil work for fireline, Water/sewer will need to be completed

Building plans were waiting for Site plan - will get these finished

Mechanical and electrical plans are pending building plans

Listing Contacts

LG
AZ BR1114848000, AZ BR114848000
Gerchick Real Estate
Listed by Gerchick Real Estate

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$20,357.00
$1,696.42/mo

Valuation Metrics

0
DSCR
3.74%
Cap Rate
3.74%
ROI

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Additional Information

Name
Linda Gerchick, CCIM
License
BR1114848000
Brokerage
Gerchick Real Estate
Brokerage Phone
602-688-9279
Title
Designated Broker
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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