Dragon Fly offers an investor in place cash flow with room to grow. The current owner has invested time & money in fostering a community here and the rents show. Very rare to achieve Cap Rates at or above 8% in today's market.

Dragon Fly has a charming historic feel in a trending neighborhood close to all the activity in Downtown Phoenix and walking distance to the recently approved light rail extension that will being heading west along Van Buren St. Property has low expenses and easy to manage. Current owner self manages property to maintain higher bottom line cash flow.

This community was constructed in 1926, rehabbed, and stabilized as recently as 2014. The unit mix consists of 3 two bedroom units, 8 one bedroom units, 1 studio unit. Construction is of red brick, painted wood/brick exterior, and tab shingle roofs. Desert landscaping throughout and mature palm trees. The property is individually metered for electricity and owner pays water ,sewer, & trash. The 12 units sit on nearly a half acre of land. The area is trending with many recent improvements to existing homes along Washington St in the immediate area.

Location Description:

This private 12 unit community is located at 2134 W Washington St in Downtown Phoenix. The property is situated less than a mile from the State Capital building and two miles from the burgeoning Downtown Phoenix Core, which is home to ASU

Opportunity for increased Buy Side commission. Call Listing Agent with Inquiries.

Sales Info:

>> Cap rate: 8.6%

>> Commision split: 2.5%

>> NOI: $56374