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914 S Kenwood 914 S Kenwood Cir

4 Unit Apartment Building $1,175,000 ($293,750/Unit) 5.56% Cap Rate Tempe, AZ 85281

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Investment Highlights

Set up for short term rentals
Completely Remodeled

Executive Rental set up

Executive Summary

A short bike ride from the Tempe ASU campus, 914 S Kenwood is a perfect Air BNB, mid term / executive rental, or just an easy long term rental property. This fully furnished 4 plex has been EXTENSIVELY renovated. EVERYTHING has been redone. The roof, AC units, underground plumbing, electrical, framing, drywall, all interior finishes, landscape, there isn't an inch of this property that hasn't been updated. All four units have 1 bedroom and 1 bathroom, as well as in unit laundry, quartz counters, modern cabinetry, dishwasher, all stainless steel appliances, wood plank style tile flooring, exterior storage closets for each unit, and are completely furnished and ready for guests. All you need to do is list them and collect income. Tempe is in extremely high demand for both long & short term rentals throughout the year. Situated at the back of a cul-de-sac, this property includes a large covered parking area in the rear with plenty of parking in the front as well. The front yard and side yards all have turf, making this an extremely low maintenance investment. This property is almost completely new construction and is turn key ready to operate.

914SKenwood OM

Financial Summary (Pro forma - 2024)	Annual	Annual Per SF
Gross Rental Income	$74,400	$137.02
Other Income	-	-
Vacancy Loss	$3,720	$6.85
Effective Gross Income	$70,680	$130.17
Taxes	$1,578	$2.91
Operating Expenses	$3,800	$7.00
Total Expenses	$5,378	$9.90
Net Operating Income	$65,302	$120.26

Financial Summary (Pro forma - 2024)

Gross Rental Income
Annual	$74,400
Annual Per SF	$137.02

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	$3,720
Annual Per SF	$6.85

Effective Gross Income
Annual	$70,680
Annual Per SF	$130.17

Taxes
Annual	$1,578
Annual Per SF	$2.91

Operating Expenses
Annual	$3,800
Annual Per SF	$7.00

Total Expenses
Annual	$5,378
Annual Per SF	$9.90

Net Operating Income
Annual	$65,302
Annual Per SF	$120.26

Property Facts

Price	$1,175,000	Apartment Style	Garden
Price Per Unit	$293,750	Lot Size	0.18 AC
Sale Type	Investment	Building Size	543 SF
Cap Rate	5.56%	No. Stories	1
No. Units	4	Year Built/Renovated	1962/2022
Property Type	Multifamily	Parking Ratio	7.37/1,000 SF
Property Subtype	Apartment

Price	$1,175,000
Price Per Unit	$293,750
Sale Type	Investment
Cap Rate	5.56%
No. Units	4
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Garden
Lot Size	0.18 AC
Building Size	543 SF
No. Stories	1
Year Built/Renovated	1962/2022
Parking Ratio	7.37/1,000 SF