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    225 S Grand Drive

    Apache Junction, AZ 85120
    • $385,000
    • STATUS: Active
    • ON SITE: 66 days
    • MLS #: 6158352
    UPDATED: 56 min ago
    $385,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1954
    County:

    Description

    Welcome to Grand View Apartments located in Apache Junction, with nice mountain views. This property features one studio currently collecting $550 and pro-forma $650. One bedroom one bathroom short term lease $1,000 and includes electric pro-forma $850-1,000 when tenant pays for all electric. Two bedroom one bath unit collecting $975 including all utilities pro-forma $1,100-$1,250. Three bedroom one bath unit is currently at $650 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.

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    © 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than Executive Realty Advisors | Keller Williams Realty Phoenix. Data last updated 2021-01-15T17:13:50.593.
    www.yournextphoenixhome.com/homes/111740053
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    225 S Grand Drive Apache Junction, AZ 85120

    • Price: $385,000
    • Status: Active
    • Updated: 56 min ago
    • MLS #: 6158352
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1954
    Built
    Neighborhood:
    Grand View Place
    County:
    Pinal
    Area:
    Apache Junction
    School District:
    0043 - Apache Junction Unified District - Pinal
    Property Description
    Welcome to Grand View Apartments located in Apache Junction, with nice mountain views. This property features one studio currently collecting $550 and pro-forma $650. One bedroom one bathroom short term lease $1,000 and includes electric pro-forma $850-1,000 when tenant pays for all electric. Two bedroom one bath unit collecting $975 including all utilities pro-forma $1,100-$1,250. Three bedroom one bath unit is currently at $650 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.
    Exterior Features

    Construction BlockFrame - Wood Construction Finish PaintedSiding Covered Parking Spaces 0.00 Exterior Amenities Partially FencedSeparate Storage Lot Size Dimensions 100X220 Parking 1 Space/UnitAdd'l Parking AvailStreet Parking Roads AsphaltCurb(S) & Gutter(S) Roofing Comp Shingle

    Interior Features

    1 Bedroom Unit Avg Sq Ft 700 1 Bedroom Unit Baths 1 2 Bedroom Unit Avg Sq Ft 850 2 Bedroom Units Baths 1 3 Bedroom Unit Avg Sq Ft 900 3 Bedroom Unit Baths 1 4 Bedroom Unit Avg Sq Ft 0 4 Bedroom Unit Baths 0 Appliances Included None Cooling Central A/CWindow/Wall Unit Efficiency Unit Avg Sq Ft 350 Efficiency Unit Baths 1 Floors Ceramic TileConcrete Heating ElectricWindow/Wall Unit(S) Interior Amenities Partially Furnished

    Property Features

    1 Bedroom Unit Avg Rent 800.00 1 Bedroom Units 1 2 Bedroom Unit Avg Rent 1000.00 2 Bedroom Units 1 3 Bedroom Unit Avg Rent 1100.00 3 Bedroom Units 1 4 Bedroom Unit Avg Rent 0.00 4 Bedroom Units 0 Adjusted Gross Inc 39900.00 Annual Elec Exp 3500.00 Annual Ins Exp 1600.00 Annual Landscape Exp 0.00 Annual Maint Exp 4000.00 Annual Mgmt Exp 2400.00 Annual Ownr Asoc Fee 0.00 Annual Trash Exp 975.00 Annual Wtr Swr Exp 2400.00 Community Amenities No Pool Cross Street Ironwood & Apache Trail Efficiency Unit Avg Rent 600.00 Efficiency Units 1 Electric Srp Gas None Gross Annual Sch Inc 42000.00 Hoa YN No Net Operating Income 23636.00 New Financing Conventional Operating Exp 16264.00 Other Income 0.00 Owner Pays ElectricSee RemarksSewerTrash CollectionWater Project Type Four Plex Sale Includes Land & Building Sewer Sewer - Public Source Of Financial Data Projected ProformaProvided By Owner Tax Municipality Apache Junction Taxes 1389.00 Tenant Pays Cable TvElectric Totl Mnth Rntal Inc 3500.00 Vacancy Allowance 0.05 Water City Franchise Zoning Cr3

    Listing courtesy of Grace Cre.


    © 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than Executive Realty Advisors | Keller Williams Realty Phoenix. Data last updated 2021-01-15T17:13:50.593.
     
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    Executive Realty Advisors | Keller Williams Realty Phoenix
    4862 E. Baseline Rd.
    Mesa AZ, 85206