Seeking Multifamily >5 Units

[Dovid Staples]

Seeking commercial residential in the following submarkets: 

North/south mesa

Western Suburbs

Northwest Phoenix

South Scottsdale

Gilbert

Chandler

Glendale

Christown

Metrocenter

Central west Phoenix

With the following criteria:

cap rate of 6-5.5 on acquisition depending on the value add opportunity. 

Owner paying all utilities, under rented, low occupancy, a plus.

W/D not required, but W/D hookups or facility (used or unused) is a must. 

No swamp coolers.

Build year 1980 or later.

Going in COC return 6-8% depending on the situation.

Must have the potential to add at least 25% to the value. 

Property must be valued based on actuals, we will do our own pro formas and will not price a property based on them. 

Thank you.