Carol Apartments | 1313-1317 1321 E. Carol Ave
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Carol Apartments 1313-1317 1321 E. Carol Ave
9 Unit Apartment Building $1,980,000 ($220,000/Unit) 5.53% Cap Rate Phoenix, AZ 85020
Executive Summary
Here is your opportunity to own three single level triplexes in a row. Each is on a separate parcel giving you the opportunity to utilize either conventional financing or commercial lending. This well-maintained property backs to desert area and a park. Great mountain views in all directions. Grassy areas outside the front doors of all the buildings is inviting and beautiful. All units are Spacious 2 bedrooms, 1 bath with 880 square feet of living space. Buildings have separate storage rooms for each tenant. Kitchens have dining area and sliding door to back patio. There are two coin-op laundry rooms. Complex is 100% occupied and is easy to manage. Self-manage this one and get an immediate cap rate of 5.5%. Increase rents and bring it up to a 6.2% cap rate. Drive by only. Do Not Disturb Tenants.
Property Facts
| Price | $1,980,000 | Building Class | C |
| Price Per Unit | $220,000 | Lot Size | 0.65 AC |
| Sale Type | Investment | Building Size | 8,100 SF |
| Cap Rate | 5.53% | Average Occupancy | 100% |
| No. Units | 9 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 2.22/1,000 SF |
| Apartment Style | Low Rise |
| Price | $1,980,000 |
| Price Per Unit | $220,000 |
| Sale Type | Investment |
| Cap Rate | 5.53% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.65 AC |
| Building Size | 8,100 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1962 |
| Parking Ratio | 2.22/1,000 SF |
Unit Amenities
- Air Conditioning
- Cable Ready
- Heating
- Kitchen
- High Speed Internet Access
- Sprinkler System
- Tub/Shower
- Lawn
Site Amenities
- 24 Hour Access
- Courtyard
- Fenced Lot
- Laundry Facilities
- Storage Space
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 9 | - | 900 |
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zoning
| Zoning Code | R-3, Phoenix |
| R-3, Phoenix |
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Carol Apartments | 1313-1317 1321 E. Carol Ave
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