7832 E Heatherbrae Ave
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7832 E Heatherbrae Ave
3 Unit Apartment Building $1,320,000 ($440,000/Unit) 4.65% Cap Rate Scottsdale, AZ 85251
Investment Highlights
- *100% occupied until December with month to month lease after that
- *Recently remodeled
- *Great opportunity for a STR owner operator as the annualized income off of the three units is $97,300.
- *Tenant pays utilities and all repairs under $300.
Executive Summary
This is not the “value-add” property you’re looking for- that job has already been done on this property! Instead, this is a fantastic “buy-it and leave it” opportunity for busy professionals who need to decrease their tax liability while increasing their real estate portfolio. Scottsdale has consistently been one of the favorite “buys” for multi-family investors because of the draw the area has for young professionals, vacationers, celebrities and business development. This property currently has a consistent income stream with very low operating costs, all due to the master tenants' leases that are in place. Currently operating through an arbitrage as a Short-Term Vacation Rental, this property is essentially maintenance free with the tenant paying all utilities, and repairs under $300.
Please do not disturb tenant- they won't know anything about the property since they're vacationers- No tours until accepted contract.
*100% occupied until December with month to month lease after that
*Great opportunity for a STR owner operator as the annualized income off of the three units is $97,300.
*Recently remodeled
*Tenant pays utilities and all repairs under $300.
Please do not disturb tenant- they won't know anything about the property since they're vacationers- No tours until accepted contract.
*100% occupied until December with month to month lease after that
*Great opportunity for a STR owner operator as the annualized income off of the three units is $97,300.
*Recently remodeled
*Tenant pays utilities and all repairs under $300.
Financial Summary (Actual - 2022) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2022) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,320,000 | Apartment Style | Garden |
| Price Per Unit | $440,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.23 AC |
| Cap Rate | 4.65% | Building Size | 2,858 SF |
| No. Units | 3 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built/Renovated | 1959/2021 |
| Price | $1,320,000 |
| Price Per Unit | $440,000 |
| Sale Type | Investment |
| Cap Rate | 4.65% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 2,858 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1959/2021 |
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Oven
- Stainless Steel Appliances
- Yard
- Patio
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | - | 952 |
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Bike Score®
Very Bikeable (88)
zoning
| Zoning Code | M-H R-5 (M-H] MULTI-FAMILY, HIGH DENSITY (UP TO 2,499 SF)) |
| M-H R-5 (M-H] MULTI-FAMILY, HIGH DENSITY (UP TO 2,499 SF)) |
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7832 E Heatherbrae Ave
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