16 E Madden Drive

    Avondale, AZ 85323
    • $450,000
    • STATUS: Active Under Contract
    • ON SITE: 64 days
    • MLS #: 5914890
    Under Contract
    UPDATED: 46 min ago
    $450,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1935
    County:
    Area:

    School Information

    Elementary School:
    Middle School:

    Description

    9.9% Cap Rate! Manage this property yourself to increase that rate! Guaranteed rents in place! Property was taken almost down to slab and rebuilt, so most is brand new including 6 new LG window high effciency A/C units, ceiling fans, flooring and fixtures. Tenants all have deposits that will carry over to the new buyer. All tenants are members of the ''Sober Living'' home which allows them to live here. All entrances are separate, and there is also a setup for a leased washing/dryer that could generate additional income. Nicely remodeled and great finishes inside. Do NOT disturb tenants. Walk through upon contract acceptance. If you want turn key cash flow, you've found it! Master metered.

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    © 2019 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than Conway Real Estate. Data last updated 2019-06-26T07:11:19.98.
    www.searchvalleyrealestate.com/homes/93929113

    16 E Madden Drive Avondale, AZ 85323

    • Price: $450,000
    • Status: Active Under Contract
    • Updated: 46 min ago
    • MLS #: 5914890
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1935
    Built
    Neighborhood:
    Whyman Sub Lots 8-11
    County:
    Maricopa
    Area:
    Avondale
    Elementary School:
    Michael Anderson
    Middle School:
    Michael Anderson
    High School:
    Desert Edge High School
    School District:
    044 - Avondale Elementary District
    Property Description
    9.9% Cap Rate! Manage this property yourself to increase that rate! Guaranteed rents in place! Property was taken almost down to slab and rebuilt, so most is brand new including 6 new LG window high effciency A/C units, ceiling fans, flooring and fixtures. Tenants all have deposits that will carry over to the new buyer. All tenants are members of the ''Sober Living'' home which allows them to live here. All entrances are separate, and there is also a setup for a leased washing/dryer that could generate additional income. Nicely remodeled and great finishes inside. Do NOT disturb tenants. Walk through upon contract acceptance. If you want turn key cash flow, you've found it! Master metered.
    Exterior Features

    Construction BlockFrame - Wood Construction Finish PaintedStucco Covered Parking Spaces 0.00 Lot Size Dimensions Unk Parking Street Parking Roads Dedicated Street Roofing Comp Shingle Total Parking Spaces 0.00

    Interior Features

    1 Bedroom Unit Avg Sq Ft 550 1 Bedroom Unit Baths 1 2 Bedroom Unit Avg Sq Ft 0 2 Bedroom Units Baths 0 3 Bedroom Unit Avg Sq Ft 0 3 Bedroom Unit Baths 0 4 Bedroom Unit Avg Sq Ft 0 4 Bedroom Unit Baths 0 Appliances Included F/S Oven/RangeRefrigerator Cooling Other (See Remarks)Individual2 Or More UnitsWindow/Wall UnitEnergy Star Qualified Equipment Efficiency Unit Avg Sq Ft 510 Efficiency Unit Baths 1 Floors Ceramic Tile Heating None Interior Amenities Unfurnished

    Property Features

    1 Bedroom Unit Avg Rent 888.00 1 Bedroom Units 3 2 Bedroom Unit Avg Rent 0.00 2 Bedroom Units 0 3 Bedroom Unit Avg Rent 0.00 3 Bedroom Units 0 4 Bedroom Unit Avg Rent 0.00 4 Bedroom Units 0 Adjusted Gross Inc 53283.60 Annual Elec Exp 0.00 Annual Gas Exp 0.00 Annual Ins Exp 0.00 Annual Land Lse Exp 0.00 Annual Landscape Exp 0.00 Annual Legal And Acctg 0.00 Annual Maint Exp 0.00 Annual Mgmt Exp 0.00 Annual Other Expense 5488.00 Annual Ownr Asoc Fee 0.00 Annual Pad Fee 0.00 Annual Rplcmnt Rsrvs 0.00 Annual Trash Exp 0.00 Annual Wtr Swr Exp 0.00 Community Amenities No PoolOther (See Remarks) Cross Street Dysart & Buckeye Efficiency Unit Avg Rent 684.00 Efficiency Units 3 Electric Aps Gas None Gross Annual Sch Inc 54888.00 Hoa YN No Net Operating Income 49399.00 New Financing Conventional1031 Exchange Operating Exp 5884.94 Other Income 1200.00 Other Type House + Rental UnitsOther (See Remarks) Owner Pays WaterSewerElectricTrashLandscapingOther (See Remarks) Project Type Other (See Remarks)5 - 12 Units Sale Includes Land & BuildingOther (See Remarks) Sewer Sewer - Public Source Of Financial Data Provided By OwnerProjected Proforma Special Owner/Agent Tax Municipality Avondale Taxes 396.94 Tenant Pays None Totl Mnth Rntal Inc 4574.00 UCB Ucb (Under Contract-Backups) Vacancy Allowance 0.05 Water City Franchise Zoning R1-6

    Listing courtesy of Zion Realty, Llc.


    © 2019 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than Conway Real Estate. Data last updated 2019-06-26T07:11:19.98.
     
    Conway Real Estate
    2345 E Thomas Rd. 150
    Phoenix AZ, 85016