6544 N 59th Dr
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6544 N 59th Dr
4 Unit Apartment Building $800,000 ($200,000/Unit) 5.40% Cap Rate Glendale, AZ 85301
Investment Highlights
- 6544 N 59th Drive is an opportunity to capitalize on a cash-flowing fourplex asset with two-bedroom, one-bath units and recent renovations.
- Find impressive stainless-steel appliances, modern flooring, granite countertops, individually controlled HVAC, repaved parking spaces, and new roof.
- Walkable to Downtown Glendale, home to local amenities such as the Glendale Glitters festival, The Black Sheep, La Perla, and Papa Ed's Ice Cream.
- Close to Grand Avenue, residents appreciate the seamless access to the valley's major travel arteries of Interstates 15 and 10 and the 101 Freeway.
Executive Summary
6544 N 59th Drive is a fully leased, exceptional fourplex comprising 2,754 square feet in Glendale, Arizona. This garden-style apartment complex has a unit mix of four two-bedroom, one-bath units with recent upgrades to the roof, décor, and fixtures. All units sport stainless steel appliances, granite countertops, modern ceramic tile and concrete flooring, and double-pane windows. The parking lot has recently received a new concrete slab from the new owner, accommodating four tenant spaces with concrete bumpers.
In a superb location close to historic Downtown Glendale, 6544 N 59th Drive is walkable to local restaurants, dining, and community events. Residents enjoy quick access to Grand Avenue, providing easy connections to all parts of the valley. Numerous public transportation options are within walking distance, including the Valley Metro Light Rail at Beardsley and 59th, less than a mile away. For those who love to travel, the Phoenix Sky Harbor International Airport is a convenient 26-minute drive from the apartment complex. 6544 N 59th Drive is surrounded by approximately 478,769 residents who live within a 5-mile radius and represent an average household income of over $64,072 annually.
In a superb location close to historic Downtown Glendale, 6544 N 59th Drive is walkable to local restaurants, dining, and community events. Residents enjoy quick access to Grand Avenue, providing easy connections to all parts of the valley. Numerous public transportation options are within walking distance, including the Valley Metro Light Rail at Beardsley and 59th, less than a mile away. For those who love to travel, the Phoenix Sky Harbor International Airport is a convenient 26-minute drive from the apartment complex. 6544 N 59th Drive is surrounded by approximately 478,769 residents who live within a 5-mile radius and represent an average household income of over $64,072 annually.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $800,000 | Apartment Style | Garden |
| Price Per Unit | $200,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.26 AC |
| Cap Rate | 5.40% | Building Size | 2,754 SF |
| No. Units | 4 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built/Renovated | 1949/2021 |
| Price | $800,000 |
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| Cap Rate | 5.40% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 2,754 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1949/2021 |
Unit Amenities
- Air Conditioning
- Microwave
- Ceiling Fans
- Tile Floors
- Granite Countertops
- Stainless Steel Appliances
- Double Pane Windows
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | 688 |
Walk Score ®
Very Walkable (74)
Bike Score ®
Very Bikeable (83)
zoning
| Zoning Code | Multi Family (Multi Family) |
| Multi Family (Multi Family) |
-
Bellagio Real Estate -
Bellagio Executive Plaza Group
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6544 N 59th Dr
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