McKinley St Apartments | 2203 E McKinley St
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McKinley St Apartments 2203 E McKinley St
10 Unit Apartment Building $1,850,000 ($185,000/Unit) 7% Cap Rate Phoenix, AZ 85006
Executive Summary
EXCLUSIVELY LISTED BY ORION INVESTMENT REAL ESTATE'S COLT SILER & GARRETT HEMEYER -
McKinley apartments is a 10-unit multifamily opportunity located in the East Side Submarket of Phoenix, Arizona. Originally built in 1964 and updated under current and prior ownership, this asset is strategically positioned near the Phoenix Sky Harbor International Airport. Supporting this location are several economic drivers including education, leisure and hospitality, and financial services. The roof is in like-new condition, the entire exterior has been refinished, and interiors have received updates to accommodate the current tenant base.
Additionally, the property has a strong rapport with HOM Inc, providing strong rents and hands-off marketing. Community amenities include an on-site laundry facility, on-site storage for each unit, and a large courtyard with the potential to incorporate additional tenant amenities, and large private patios for most units. Future ownership will have the opportunity to acquire a well-maintained asset through favorable seller financing that offers immediate cash flow from day one.
McKinley apartments is a 10-unit multifamily opportunity located in the East Side Submarket of Phoenix, Arizona. Originally built in 1964 and updated under current and prior ownership, this asset is strategically positioned near the Phoenix Sky Harbor International Airport. Supporting this location are several economic drivers including education, leisure and hospitality, and financial services. The roof is in like-new condition, the entire exterior has been refinished, and interiors have received updates to accommodate the current tenant base.
Additionally, the property has a strong rapport with HOM Inc, providing strong rents and hands-off marketing. Community amenities include an on-site laundry facility, on-site storage for each unit, and a large courtyard with the potential to incorporate additional tenant amenities, and large private patios for most units. Future ownership will have the opportunity to acquire a well-maintained asset through favorable seller financing that offers immediate cash flow from day one.
Property Facts
| Price | $1,850,000 | Building Class | C |
| Price Per Unit | $185,000 | Lot Size | 0.40 AC |
| Sale Type | Investment | Building Size | 5,220 SF |
| Cap Rate | 7% | No. Stories | 1 |
| No. Units | 10 | Year Built | 1964 |
| Property Type | Multifamily | Parking Ratio | 2.83/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | $1,850,000 |
| Price Per Unit | $185,000 |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.40 AC |
| Building Size | 5,220 SF |
| No. Stories | 1 |
| Year Built | 1964 |
| Parking Ratio | 2.83/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Microwave
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | 550 |
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PROPERTY TAXES
| Parcel Number | 116-03-090G | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $16,107 |
PROPERTY TAXES
Parcel Number
116-03-090G
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$16,107
zoning
| Zoning Code | R-4, Phoenix (Residential) |
| R-4, Phoenix (Residential) |
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McKinley St Apartments | 2203 E McKinley St
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