1846 E Washington Street

    Phoenix, AZ 85034
    • $1,050,000
    • STATUS: Active
    • ON SITE: 39 days
    • MLS #: 5987818
    UPDATED: 69 min ago
    $1,050,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Type:
    Multi-Family
    Built:
    1940
    County:
    Area:

    School Ratings & Info

    Description

    1846 is a boutique-style apartment community originally built in 1940, renovated in 2016 and extensively remodeled in 2019. The community offers a mix of studio, one- and two-bedroom rental units. The units provide the resident the comfort of individual AC and microwaves as well as other unit attributes. The 2019 renovation included two new main water heaters, new roofs on both buildings, exterior paint and stucco siding, electrical panels, three units completely rewired and rebuilt, 6 new AC units, new sewer main, new walkways and exterior awnings.At list price, 1846 produces a cap rate of 7.58% with room for future rent growth to the new investor.

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    © 2019 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than The Kenny Klaus Team | Keller Williams Integrity First. Data last updated 2019-11-13T08:10:40.893.
    www.klausteam.com/homes/99630387

    1846 E Washington Street Phoenix, AZ 85034

    • Price: $1,050,000
    • Status: Active
    • Updated: 69 min ago
    • MLS #: 5987818
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1940
    Built
    Neighborhood:
    Collins Phoenix Blks 23-26, 17, 27
    County:
    Maricopa
    Area:
    Phoenix
    School District:
    001 - Phoenix Elementary District
    Property Description
    1846 is a boutique-style apartment community originally built in 1940, renovated in 2016 and extensively remodeled in 2019. The community offers a mix of studio, one- and two-bedroom rental units. The units provide the resident the comfort of individual AC and microwaves as well as other unit attributes. The 2019 renovation included two new main water heaters, new roofs on both buildings, exterior paint and stucco siding, electrical panels, three units completely rewired and rebuilt, 6 new AC units, new sewer main, new walkways and exterior awnings.At list price, 1846 produces a cap rate of 7.58% with room for future rent growth to the new investor.
    Exterior Features

    Construction Block Construction Finish PaintedStuccoOther (See Remarks) Covered Parking Spaces 0.00 Exterior Amenities Cable Tv Available Lot Size Dimensions 49 Ft X 157.5 Ft Parking 1 Space/UnitOther (See Remarks)Street Parking Roads Asphalt/BlacktopDirt/Gravel Roofing Other (See Remarks) Total Parking Spaces 12.00

    Interior Features

    1 Bedroom Unit Avg Sq Ft 400 1 Bedroom Unit Baths 1 2 Bedroom Unit Avg Sq Ft 550 2 Bedroom Units Baths 1 3 Bedroom Unit Avg Sq Ft 0 3 Bedroom Unit Baths 0 4 Bedroom Unit Avg Sq Ft 0 4 Bedroom Unit Baths 0 Appliances Included Bi Oven/RangeRefrigeratorMicrowave Cooling Window/Wall Unit Efficiency Unit Avg Sq Ft 275 Efficiency Unit Baths 1 Floors Other (See Remarks) Heating Electric Interior Amenities UnfurnishedOther (See Remarks)

    Property Features

    1 Bedroom Unit Avg Rent 853.00 1 Bedroom Units 3 2 Bedroom Unit Avg Rent 1049.00 2 Bedroom Units 1 3 Bedroom Unit Avg Rent 0.00 3 Bedroom Units 0 4 Bedroom Unit Avg Rent 0.00 4 Bedroom Units 0 Adjusted Gross Inc 115548.50 Annual Elec Exp 8372.00 Annual Gas Exp 0.00 Annual Ins Exp 3477.00 Annual Land Lse Exp 0.00 Annual Landscape Exp 0.00 Annual Legal And Acctg 0.00 Annual Maint Exp 2400.00 Annual Mgmt Exp 5787.00 Annual Other Expense 5200.00 Annual Ownr Asoc Fee 0.00 Annual Pad Fee 0.00 Annual Rplcmnt Rsrvs 2400.00 Annual Trash Exp 0.00 Annual Wtr Swr Exp 7442.00 Community Amenities No Pool Cross Street Washington Street & 19th Street Efficiency Unit Avg Rent 764.00 Efficiency Units 8 Electric Aps Gas Other (See Remarks) Gross Annual Sch Inc 115474.00 Hoa YN No Net Operating Income 79323.00 New Financing Other (See Remarks) Operating Exp 36156.00 Other Income 6156.00 Owner Pays Other (See Remarks) Project Type 5 - 12 Units Sale Includes Land & BuildingLaundry EquipmentOther (See Remarks) Sewer Sewer - Public Source Of Financial Data Other (See Remarks) Tax Municipality Phoenix Taxes 1078.00 Tenant Pays Other (See Remarks) Totl Mnth Rntal Inc 0.00 Vacancy Allowance 0.05 Water City Franchise Zoning C-3

    Listing courtesy of Abi Multifamily.


    © 2019 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than The Kenny Klaus Team | Keller Williams Integrity First. Data last updated 2019-11-13T08:10:40.893.
     
    The Kenny Klaus Team | Keller Williams Integrity First
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