Listed by Gerchick Real Estate
$845,000
Reduced to meet Market-Occupied Triplex w/2 Three Bed Units
Details
APN 159-45-070
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,691
Net Rentable (SqFt) 3,691
Units 3
Cap Rate 5.7%
NOI $48,191
Occupancy 33%
Pro-Forma Cap Rate 6.32%
Pro-Forma NOI $53,435
Price per SqFt $229
Broker Co-Op Yes
Class B
Year Built 1939, 1980
Year Renovated 2024
Buildings 3
Stories 2
Lot Size (SqFt) 13,375
Zoning [R-3] Multiple Family Residence
Investment Type Stabilized
Ownership Fee Simple
Price Reduced to meet Market Needs-Fully Occupied Triplex w/2 Three Bedroom Units
Marketing description
✔ Major Capital Improvements Completed
- Full interior paint throughout all units (modern two-tone finishes)
- New doors, hardware, and upgraded security features
- Extensive lighting upgrades including ceiling fans and fixtures
- Updated kitchens with painted cabinets, new hardware, and fixtures
- Bathroom upgrades including mirrors, accessories, and refinishing
- New and updated windows, blinds, and sliding door improvements
- Electrical upgrades including panel/service improvements
- Plumbing updates including fixtures and disposal replacement
- Safety upgrades: smoke detectors & carbon monoxide detectors
- Professional clean-out, debris removal, and final detailing
✔ Investment Highlights
- Fully occupied – immediate income
- Turnkey condition – minimal deferred maintenance
- Three-unit configuration – strong rental diversification
- Extensive renovation completed – reduces future capital expense
- Desirable North Phoenix location (85020)
✔ Why This Deal Stands Out
Investment highlights
$75,000 price reduction – strong value repositioning
Fully occupied – immediate cash flow from day one
Three-unit property – diversified income stream
Extensive recent renovations completed across all units
Turnkey condition – minimal deferred maintenance
Updated kitchens and bathrooms with modern finishes
New doors, hardware, lighting, and ceiling fans throughout
Electrical and system upgrades completed – improved long-term reliability
Strong North Phoenix location (85020) with consistent rental demand
Ideal for investors seeking stability with upside potential
Listing Contacts
Listed by Gerchick Real Estate
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$48,191.00
$4,015.92/mo
Valuation Metrics
0
DSCR
5.7%
Cap Rate
5.7%
ROI
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