GREAT INVESTMENT - "CASHFLOWING" PROPERTY
Pete Newcome
707-799-5299/cell
San Rafael, CA
CA - DRE# - 01281179
http://wholesalepropsbypete.com
10-UNIT - 13-CAP - $250,000 - NOI - $34,052 - PHOENIX-AZ
1649 E. OAK ST. - PHOENIX-AZ
NET OPERATING INCOME - $34,052
(8) - 1/BDRM - (1) - 2/BDRM - (1) - 1.5/BDRM NET
1 Bedroom Units: # 1 Bedroom Units: 9; Avg Rent: 500; Avg SqFt: 500; # Baths: 1
2 Bedroom Units: # 2 Bedroom Units: 1; Avg Rent: 600; Avg SqFt: 650; # Baths: 1
Appliances Included: F/S Oven/Range
Easy to manage and maintain 10 unit property in Central Phoenix. 5 Duplex buildings on 1 parcel and block construction. NOT A SHORT SALE! NOT AN REO! CAN CLOSE QUICKLY! Located near the new Phoenix Children's Hospital, plenty of close schools, and shopping near by. Easy access to the 51 freeway, I-10 freeway, 202 freeway and public transportation. This property will bring in total rents of $61,800, less 10% vacancy $-6,810 so $55,620 per year. Then after total expenses of $34,375 the amount the investor would pocket is $21,245 NOI per year. This is a 8.50% CAP Rate return on investment based on a cash purchase.
POTENTIAL RENT INCOME - $72,000
- VACANCY/LOSSES - $-7,000
EFFECTIVE RENTAL INC. - $64,800
TOTAL OPERATING EXP. - $30,748
NET OPERATING INCOME - $34,052
