Investor's delight! Nice package of 14 condos available for $26,000-30,000 each. All 14 units are currently occupied, These condos have annual gross income of $103,584/year, an NOI of $30,999/year and a CAP rate of 7.9%! Utilities are master metered. Rents include utilities for the tenants. This is a beautiful well-run, well-maintained complex and these units sold for approximately $75-90,000 each when they were sold to investors several years ago. La Mirada is a 300-unit, garden-style condominium conversion located in a strong rental area of north central Phoenix. Built in 1973, La Mirada has a flat roof, block construction, 9 one and three-story buildings. The unit mix is comprised of 6 one-bedroom / one-bath unit of approximately 600 square feet, 1 two-bedroom / one-bath unit of approximately 700 square feet and 6 two-bedroom / two-bath units of approximately 850 square feet. All the units have spacious kitchens, vertical blinds, dishwashers, large closets and ceiling fans in some units. Common area amenities include a swimming pool, covered parking, play area, laundry facilities, clubhouse, fitness center, private balcony/patios, and stand alone rental office.

Location Description:

With frontage on Northern Avenue, a major East/West artery, La Mirada is situated among a quiet residential neighborhood surrounded by single-family homes, nestled in the foothills of the majestic Phoenix Mountains, adjacent to prestigious Squaw Peak in North Central Phoenix. The Property enjoys easy access to the SR-51 Freeway, 16th Street and 7th Street, all major North/South thoroughfares.

Highlights:

>> 14 Units; (7) 1/1, (1) 2/1, (6) 2/2

>> Condominium quality offered at only $26,000-30,000 per unit

>> Excellent North Central Phoenix location with convenient access to Arizona State Route 51

>> Laundry facility, swimming pool, covered parking, play area, clubhouse, fitness center, and private balcony/patios

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Sales Info:

>> Cap rate: 7.95%

>> Commision split: 3.0%

>> NOI: $30999