flyer - Kasten Long Commercial Group

klcommercialgroup.com

flyer - Kasten Long Commercial Group

SCOTTSDALE FOUR-PLEX

4 Units

Offered at $275,000 ($68,750/u)

3202 N 67 th Place

Scottsdale, Arizona

Outstanding downtown Scottsdale location. Less than 1 mile to vibrant, Old Town

Scottsdale and the Arts District. These charming units, built in 1957 of quality block

construction, have been completely rehabbed with all new interiors and new roof. Each unit has new

appliances and fixtures, new porcelain flooring and paint. In addition, the exterior has been recently

painted and desert landscaped. This is a rare opportunity for an investor to buy a quality remodeled 4-

plex in downtown Scottsdale. Do not disturb tenants.

♦ Less than 1 mile to Old Town Scottsdale ♦ Completely remodeled

♦ Individually metered for Gas & Electric ♦ High demand rental area

♦ Surrounded by major employers/retail ♦ New double paned windows

For More Information Please Contact:

Jan A. Long, CCIM

Tel: 602 445 4115

Cell: 602 432 9882

Jan@KLCommGroup.com

2821 E Camelback Road Suite 600; Phoenix, AZ 85016

www.KLCommercialGroup.com


INCOME / EXPENSES

Actual Rent

Units Mix Size (sf) Rent Rent/sf per Month

1 St 530 $475 $0.94 $475

1 1/1 630 $495 $0.79 $495

2 2/1 830 $595 $0.72 $1,190

4 2,820 $2,160

Actual

Gross Monthly Income $2,160

Gross Scheduled Annual Income $25,920

Vacancy (5%) ($1,296)

Other Income (laundry) ___ $600

Gross Operating $25,224

Estimated Expenses ($9,091)

($2,273/unit, $3.22/sf)

Net Operating Income $16,133

Estimated Annual Expenses:

Management 2,458

Maintenance, Repair, Supplies 1,600

Utilities

Water, Sewer, Trash 1,300

Electric 274

Gas 484

Insurance 1,495

Real Estate Tax (2012) 1,052

Privilege tax 428

Total Expenses $9,091

FINANCING AND INVEST RETURN

$ 275,000 Offering Price

$ 68,750 25% Down Payment

$ 206,250 Proposed Loan (4.75%, 30 Yr Amort)

SITE INFORMATION

3202 N 67 th Pl, Phoenix, AZ 85251

Units 4

Building Size 2,820 sf approx.

Lot Size 7,562 sf (0.17 acre - per county)

Parcel 144-44-055

Cool/Heat Roof mounted A/C’s

Hot Water Gas hot water heaters

Construction 1957 frame construction

Roof

Composition

Parking uncovered private and street

Utilities Indiv. metered for electric & gas

PROPERTY INFOMATION

This Scottsdale four-plex, built in 1957, is a singlestory

block building with 1 studio, 1 one-bedroom/

one bath and 2 two-bedroom/one-bath units. In

excellent condition, all four units were completely

upgraded and remodeled. Plumbing was replaced

with PEX and electric is all copper.

This is a great opportunity for an investor to purchase

a quality four-plex in an outstanding Old Town

Scottsdale location.

Less than a mile from downtown Scottsdale, this area

offers easy access to major transportation arteries,

City of Scottsdale buildings, the Arts District, multiple

employment opportunities, retail, parks, recreation

and a rich variety of nightlife.

Estimated Cash Flow

$ 16,133 NOI

$ 12,911 Loan Payments

$ 3,223 Annual Cash Flow

Return on Investment

$3,223 / $68,750 = 5.9%

SALE INFORMATION

Offering Price $ 275,000

Price / Unit $ 68,750

Price / sf $ 97.52

Cap Rate 5.9%

GRM 10.6

Jan A. Long, CCIM,

602 445 4115 direct

Jan@KLCommGroup.com

www.KLCommercialGroup.com

Directions: 68 th St and Thomas: North on 68 th St. to

Cheery Lynn. West on Cheery Lynn to 67 th Pl. NW

corner of 67 th Pl and Cheery Lynn.

The information contained herein is from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee,

warranty or representation about it. The Purchaser is advised to independently verify the accuracy and completeness of the information in order to determine the

suitability of the property for the Purchaser’s needs.

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