2122-2124 W Augusta Avenue

Description

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, 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.