$400,000
$400,000
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SOLD DATE : 04/15/2021
Key Details
Sold Price $400,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Grand View Place
MLS Listing ID 6158352
Sold Date 04/15/21
Maintenance Fees $4,000
Originating Board Arizona Regional Multiple Listing Service (ARMLS)
Year Built 1954
Annual Tax Amount $1,389
Tax Year 2020
Lot Dimensions 100x220
Property Description
Welcome to Grand View Apartments located in Apache Junction, with nice mountain views. This property features one studio currently collecting $575 and pro-forma $650. One bedroom one bathroom currently vacant and separate electric meter pro-forma $850. Two bedroom one bath unit currently vacant proforma $1,100 also separately metered for electric. Three bedroom one bath unit is currently at $975 pro-forma $1200-1400. Buildings are set up for central AC, but are currently using wall units. Rents are below market with room to increase and one unit is on a short term lease fully furnished. Tile floors throughout with new paint and other capital improvements made on the recently leased units. Current rents about a 5.78% cap and proforma cap is 6.24% once units are rents raised. Do not disturb tenants. Drive by only. All facts and figures are approximate buyer verify MLS information.
Location
State AZ
County Pinal
Community Grand View Place
Zoning CR3
Direction West on Apache Trail, South on Grand Dr. Property is on the left.
Interior
Heating Window/Wall Unit(s), Electric
Cooling Central A/C, Wall/Window Unit(s)
Flooring Ceramic Tile, Concrete
Appliance None
Exterior
Garage Add'l Parking Avail, 1 Space/Unit, Street Parking
Community Features No Pool
Waterfront No
Roof Type Composition
Parking Type Add'l Parking Avail, 1 Space/Unit, Street Parking
Total Parking Spaces 6
Building
Sewer Public Sewer
Water City Franchise
Schools
School District Apache Junction Unified District
Others
Senior Community No
Tax ID 101-10-121
Acceptable Financing Conventional
Listing Terms Conventional
Financing Other
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