Property Listing No Longer Available for Sale

2222 E Polk Street, Phoenix, AZ

Multi-family for Sale - $339,000 - 3,932 Sq. Ft. on 0.38 acres


Property Info

CIMLS#859154
Location
  2222 E Polk Street
  Phoenix AZ 85006
UpdatedApril 22nd, 2016
TypeMulti-family
Price$339,000
Building3,932 Sq. Ft.
Land0.38 acres

Property Description

CLEAN!!! UPDATED!!! 100% Occupied!!! This 7-plex includes two parcels totaling 16,494 SF at 2218 and 2222 E. Polk Street. Rental units include a 1-story 2 bedroom 1 bath house, a 1-story duplex with studio apartments, and a 2-story 4-plex of 2 bedroom 1 bath apartments. All of the apartments are freshly painted and have new roof, new HVAC, new windows, new cabinets and appliances, wood-like vinyl flooring, new doors, security doors, and updated bathroom fixtures with tile showers or bath tub surrounds. The house also has new windows, wood-like vinyl flooring, an updated bathroom with tile tub surround, new doors, security door, and fresh paint. The exterior has 2-tone paint and minimal desert landscape for low maintenance. All units are heated and cooled by electric heat pumps and are individually metered.

Includes two parcels APN 116-01-068 (House and Duplex) and 116-01-070 (4-Plex). Property is under new management. House tenant pays utilities different from apartment tenants.

Location Description:

This multi-family cash-flowing investment is located just 1.5 blocks west of 24th Street on Polk Street in Central Phoenix, just southeast of the I-10/SH 51 interchange in downtown Phoenix. Tenants enjoy easy access to Sky Harbor airport, and all major highways connecting north, south, east, and west valley business districts and employment opportunities. St. Luke's Medical Center, Maricopa Integrated Health Systems (MIHS) Hospital, Phoenix Children's Hospital, and Arizona Heart Hospital are a short drive or ride on easily accessible public transit.

Highlights:

>> UPDATED Kitchens & Baths

>> UPDATED Flooring, Doors, & Paint

>> 100% Occupied

>> Under New Management

>> Easy Access to I-10, I-17, Loop 202, SH-51

>> Close to 3 Major Hospitals

>> Near Sky Harbor Airport

>> Easy Access to Downtown Phoenix

* Email for additional photos


Financials

Sales Info:

>> Cap rate: 8.42%

>> NOI: $28544


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