Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision Vista Income Estates
MLS Listing ID 6852653
Maintenance Fees $1,750
Originating Board Arizona Regional Multiple Listing Service (ARMLS)
Year Built 1947
Annual Tax Amount $2,016
Tax Year 2024
Lot Dimensions irr
Property Description
Address: 2122-2124 W Augusta Ave, Phoenix, AZ 85021
Price: $1,990,000
Property Overview:
Two Parcels - This investment opportunity consists of two fully occupied parcels, providing stable income with minimal vacancy risk.
Fully Occupied - All units are currently rented, ensuring consistent rental income from day one.
Residential Loan Flexibility - These properties can be purchased using two residential loans, offering potential for favorable financing options for investors.
List of Recent Capital Improvements:
HVAC Upgrades:
Installed 1 ton mini-split AC in studio
Replaced all AC vents and returns in all units (27 vents, See Additional Information Investment Opportunity: Fully Occupied Multifamily Property
Address: 2122-2124 W Augusta Ave, Phoenix, AZ 85021
Price: $1,990,000
Property Overview:
Two Parcels - This investment opportunity consists of two fully occupied parcels, providing stable income with minimal vacancy risk.
Fully Occupied - All units are currently rented, ensuring consistent rental income from day one.
Residential Loan Flexibility - These properties can be purchased using two residential loans, offering potential for favorable financing options for investors.
List of Recent Capital Improvements:
HVAC Upgrades:
Installed 1 ton mini-split AC in studio
Replaced all AC vents and returns in all units (27 vents, 7 returns)
Appliances:
Upgraded to new stainless steel appliances in all units, including fridges, ranges, microwaves, and dishwashers (note: ice makers on backorder)
Bathroom Renovations:
Installed new toilets, faucets, shower valves, water lines, and P-traps
Upgraded bathroom hardware including towel holders, toilet paper holders, and hand towel holders
Installed new tubs and bathroom exhaust vents
Kitchen and Bathroom Finishes:
Fitted new 40" vanities in bathrooms with quartz countertops
Installed subway tile backsplash in kitchens with 3/8" stainless steel trim
Interior and Exterior Painting:
Freshly painted both buildings with unknown colors (exterior)
Interior walls painted with ceiling white; baseboards and door trim in semi-gloss white
Electrical and Plumbing Enhancements:
Upgraded electrical panels in Building #1
Installed new outlets, switches, and light fixtures throughout units
Replaced plumbing systems as per new kitchen and bathroom designs
Flooring and Interior Upgrades:
Installed porcelain wood-like tile flooring throughout all units
Replaced interior doors with pre-hung doors and stainless steel handles
Exterior Enhancements:
Landscaped with three-quarter-inch gravel and artificial grass
Added pavers, irrigation system with timer, and 14 new Vankas plants
Built barn-style wooden fence and replaced fence panels with gates
Roofing and Siding Improvements:
Replaced roofing on both buildings with new shingles, underlayment, and flashing
Installed energy-efficient windows and replaced siding on Building #1
Additional Features:
Installed new exterior doors with locks and mailbox stucco finished for all units
Termite treatment completed with pest control measures
Investment Highlights:
Fully Occupied: Stable rental income from all units.
Recent Renovations: Extensive upgrades ensure minimal maintenance and attractive living spaces.
Prime Location: Close proximity to amenities, schools, and transportation hubs.
Residential Loan Purchase: Potential for financing using two residential loans, providing advantageous terms for investors.
Potential for Increased Value: With recent upgrades and tenant satisfaction, there's room for potential rent increases.
Price: $1,990,000
Disclaimer: Buyer to verify all facts and figures.
Location
State AZ
County Maricopa
Community Vista Income Estates
Zoning R-3, R-4
Direction Turn south from Northern. At Augusta turn east and property is on the north side of the street. Be sure on a drove by to go through the u Shaped Driveway.
Interior
Heating Individual, Heat Pump
Cooling Ceiling Fan(s), Heat Pump, Individual
Flooring Ceramic Tile
Appliance Free-Standing Range, Disposal, Dishwasher, Refrigerator, Microwave, Washer/Dryer
Exterior
Parking Features Paved, Free, >1 Space Per Unit
Community Features No Pool
Roof Type Composition
Total Parking Spaces 12
Building
Sewer Public Sewer
Water Master Meter, City Franchise
New Construction No
Others
Senior Community No
Tax ID 157-21-016-C
Acceptable Financing Other (See Remarks), No Carry, Conventional
Listing Terms Other (See Remarks), No Carry, Conventional
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