Phoenix Fourplex

[T. Phoenix Howard]

Phoenix, AZ 85051

• FOURPLEX
• Price $190,000
• Units 1,2 & 4 have been fully remodeled including granite countertops
• Unit 3 has lower rent because they help with irrigation/landscaping and misc. repairs
• Units 1 & 2 were built in 1966; Units 3 & 4 were built in 1973
• Owner does not pay gas on 1 & 2 because they have A/C
• Owner pays water for all units
• Extra income to owner via Coin Op Laundry between units
• Water Bill for all units & Laundry is approx $120 - $140 a month (Trash service included)
• Gas for units 3 & 4 is about $20 a month
• Taxes are approx $1149 a year
• Insurance is $1200 a year per duplex = $2400 a year for entire property
• Rent and Leases are as follows:
  • Unit 1 - $625 - Month to Month
  • Unit 2 - $525 - Year lease till June 2016
  • Unit 3 - $400 - Month to Month
  • Unit 4 - $475 - Month to Month
• Total in Rent each month is $2025

• Gas ($20) / Water ($140) / Tax ($95.75) / Insurance ($200) = $455.75/month

• Cap Rate = 9.9%
• ::Pictures::

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