1905 W Village Dr
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1905 W Village Dr
4 Unit Apartment Building $740,000 ($185,000/Unit) 5.91% Cap Rate Phoenix, AZ 85023
Executive Summary
Exceptional fourplex in a prime location with zero turnover in over five years. This well-maintained asset features three 2-bedroom, 1-bathroom units and one 1-bedroom, 1-bathroom unit. Situated within the North I-17 employment corridor, the area boasts over 95,000 jobs within a 5-mile radius of the property. The roof was replaced in 2020 and comes with a 10-year warranty, while the parking lot was repaved in 2022. Long-term tenants enjoy the large yard & maintain the property, resulting in minimal expenses for the owner. The owner covers water and electricity for security and laundry, while tenants are responsible for their own electric bills. This presents a value-add opportunity with immediate upside potential, as current rents are below market and on a month-to-month basis.
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- Offering Memorandum
Property Facts Under Contract
Price | $740,000 | Building Class | C |
Price Per Unit | $185,000 | Lot Size | 0.31 AC |
Sale Type | Investment | Building Size | 2,525 SF |
Cap Rate | 5.91% | Average Occupancy | 100% |
No. Units | 4 | No. Stories | 1 |
Property Type | Multifamily | Year Built | 1970 |
Property Subtype | Apartment |
Price | $740,000 |
Price Per Unit | $185,000 |
Sale Type | Investment |
Cap Rate | 5.91% |
No. Units | 4 |
Property Type | Multifamily |
Property Subtype | Apartment |
Building Class | C |
Lot Size | 0.31 AC |
Building Size | 2,525 SF |
Average Occupancy | 100% |
No. Stories | 1 |
Year Built | 1970 |
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
1+1 | 1 | - | - |
2+1 | 3 | - | - |
Walk Score ®
Very Walkable (72)
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