Carefree Flats | 7440 E Cave Creek Rd
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Carefree Flats 7440 E Cave Creek Rd
8 Unit Apartment Building $2,699,000 ($337,375/Unit) 5.56% Cap Rate Carefree, AZ 85377
Investment Highlights
- New Custom Bathrooms
- New Windows
- New Water Heaters
- New Custom Kitchens
- New In-Unit Washer/Dryers
- New POOL
Executive Summary
Nestled in the heart of serene Carefree, Arizona, discover a meticulously refurbished 1960s multifamily sanctuary boasting eight distinct units. Carefully restored to its former glory, this property combines vintage charm with modern amenities, offering a unique living experience in one of Arizona’s most coveted locales. Everything is new, from new custom kitchens with tons of storage, new custom
bathrooms, new vinyl plank flooring, new windows, new fans and fixtures, new custom window treatments, new in-unit washer/dryers, new HVAC, new hot water heaters, new pool and putting green. The property consists of four 2-bedroom/1-bath units and four 1-bedroom/1-bath units. Across the street from the Sundial in downtown Carefree. Within walking distance to shops, bars, restaurants, and hotels in the heart of Carefree, Arizona. Close to downtown Cave Creek.
bathrooms, new vinyl plank flooring, new windows, new fans and fixtures, new custom window treatments, new in-unit washer/dryers, new HVAC, new hot water heaters, new pool and putting green. The property consists of four 2-bedroom/1-bath units and four 1-bedroom/1-bath units. Across the street from the Sundial in downtown Carefree. Within walking distance to shops, bars, restaurants, and hotels in the heart of Carefree, Arizona. Close to downtown Cave Creek.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $2,699,000 | Apartment Style | Low Rise |
| Price Per Unit | $337,375 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.76 AC |
| Cap Rate | 5.56% | Building Size | 6,000 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built/Renovated | 1963/2022 |
| Price | $2,699,000 |
| Price Per Unit | $337,375 |
| Sale Type | Investment |
| Cap Rate | 5.56% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.76 AC |
| Building Size | 6,000 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1963/2022 |
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Kitchen
- Refrigerator
- Stainless Steel Appliances
- Range
- Tub/Shower
- Island Kitchen
Site Amenities
- Courtyard
- Pool
- Putting Greens
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $1,800 | 690 |
| 1+1 | 1 | $1,650 | 690 |
| 1+1 | 1 | $1,790 | 690 |
| 1+1 | 1 | $1,700 | 690 |
| 2+1 | 1 | $2,150 | 800 |
| 2+1 | 1 | $1,918 | 800 |
| 2+1 | 1 | $2,250 | 800 |
| 2+1 | 1 | $2,250 | 800 |
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PROPERTY TAXES
| Parcel Number | 216-83-316C | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $27,289 |
PROPERTY TAXES
Parcel Number
216-83-316C
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$27,289
zoning
| Zoning Code | M-L (Multifamily) |
| M-L (Multifamily) |
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Carefree Flats | 7440 E Cave Creek Rd
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