Updated almost 9 years ago on . Most recent reply
11 UNITS, 17% CoCR, $125K Under Market
Hot Phoenix Multifamily Property – Won’t Last Long
Well-maintained, solidly-build, multifamily garden low-rise Class B in historical well-kept, trendy, and upcoming neighborhood of Encanto, minutes from downtown Phoenix. Between expected continued strong market appreciation in Phoenix, near 100% occupancy, and rent upside, purchaser of this property can expect instant substantial increases in NOI and property value with continued appreciation years to come.
Cap rate of 6.5% compared to current Phoenix cap rate of 5.6%, providing an instant property value increase. Current NOI of $85K, with a rent upside that will increase NOI upwards of $32% to ~$125K, increasing the property value by $615K very quickly.
