Courtesy of: Jack Cardinal, Cooper Cardinal and Company
The Investment Opportunity is comprised of 10 rental units and a 3-unit expansion piece. The current unit mix is (Two) 3 Bedroom/2Bathroom residential homes,(Four)2 Bedroom/1 Bathroom units and(Four)1 Bedroom/1 Bathroom units.The assets are positioned within two separate locations approximately 2.2 miles apart. One location includes a residential home and three casitas. The other location includes a duplex, triplex, residential home and a vacant lot for a 3-unit expansion opportunity. (MLS #5994753 is part of the portfolio) Home and 3 Casitas (2133 W Morten Avenue)- The 4 Plex is comprised of a 3 Bedroom/2 Bathroom house that is approximately 1,800 Sq. Ft. The additional three rental units are 1 Bedroom/1 Bathroom Casitas. One of the Casitas has interior washer/dryer hookups while the other two Casitas have exterior washer/dryer hookups. Two of the Casitas have wall A/C Units and the other Casita has a rooftop A/C Unit. Each Casita has a storage unit. Electric is direct billed. Water, Sewer and Trash are included with rent for all units and paid by owner. There is no Gas. Recent capital improvements in the main home include a new bathroom tub, new flooring and fixtures in the kitchen and both bathrooms. Two of the Casitas have new kitchens and new A/C units. All three Casitas have new flooring, fixtures, and breakers. Triplex (6747 N. 26th Ave) - The unit mix is two 2 Bedroom/1 Bathroom units and one 1 Bedroom/1 Bathroom unit. The triplex is on city water and septic. The septic system is serviced by one tank and one leach field. Electric and Gas are direct billed. Water, Sewer and Trash are included with rent and paid by owner. There is 1 washer/1 dryer that services the triplex, the equipment is coin operated and owned by seller. Recent capital improvements include remodeled interiors, a new roof and new windows. Duplex and Home (6736 N. 25th Dr) - The unit mix for the duplex is two 2 Bedroom/1 Bathroom units with interior washer/ dryer hookups. Electric and Gas are direct billed. Water, Sewer and Trash is included with rent and paid by owner. Recent capital improvements include two new A/C units, remodeled interiors, a new roof and new windows. The adjacent house is a 3 Bedroom/2 Bathroom with interior washer/dryer hookups. The house is on all city services and tenant pays all utilities direct. Vacant Land (6733 N. 26th Ave) - The vacant land sits in between the Duplex and Triplex. It is zoned R-3 and is approximately .22 acres. Current ownership is in the process of granting the City of Phoenix a 'right of way' easement in order to subdivide. Upon approval seller plans on providing engineered plans to build a 3-unit structure that would include (three) 3 Bedrooms/2 Bath units.