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Residences at Fairmount 1017-1031 E Fairmount Ave 8 Unit Apartment Building $2,884,812 CAD ($360,602 CAD/Unit) 6.03% Cap Rate Phoenix, AZ 85014
Investment Highlights
- 8-unit boutique apartment community with ±6,559 SF in Midtown Phoenix
- Six of eight units renovated with luxury finishes and in-unit laundry
- Large private front and back yards with mature landscaping and citrus trees
- Current cap rate of 6.03% and NOI of $126,680 at $2,100,000 list price
- Three private garages, four carport spaces, and four private storage units
- Fully occupied, stabilized asset with immediate in-place yield and upside
Executive Summary
David Harrington
Matthews Real Estate Investment Services, Inc
License # CO701910000, BR715518000 (AZ)
4110 N Scottsdale Rd Suite 100, Scottsdale, AZ 85251
(866) 889-0550
Matthews Real Estate Investment Services, Inc
License # CO701910000, BR715518000 (AZ)
4110 N Scottsdale Rd Suite 100, Scottsdale, AZ 85251
(866) 889-0550
Property Facts
| Price | $2,884,812 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $360,602 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 6.03% | Building Size | 6,559 SF |
| No. Units | 8 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1966 |
| Property Subtype | Apartment | Parking Ratio | 1.83/1,000 SF |
| Zoning | R-3 | ||
| Price | $2,884,812 CAD |
| Price Per Unit | $360,602 CAD |
| Sale Type | Investment |
| Cap Rate | 6.03% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 6,559 SF |
| No. Stories | 1 |
| Year Built | 1966 |
| Parking Ratio | 1.83/1,000 SF |
| Zoning | R-3 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Storage Space
- Ceiling Fans
- Tile Floors
- Kitchen
- Granite Countertops
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Oven
- Yard
- Grill
- Double Pane Windows
- Garden
- Patio
- Porch
- Smoke Free
- Window Coverings
Site Amenities
- Courtyard
- Fenced Lot
- Laundry Facilities
- Pet Play Area
- Smoke Free
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | 580 - 675 |
| 2+1 | 3 | - | 795 - 800 |
| 2+1.5 | 2 | - | 1,074 |
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Moderately walkable
70/100
Very drivable
80/100
Some public transit
40/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 118-06-017B | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $42,348 CAD |
Property Taxes
Parcel Number
118-06-017B
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$42,348 CAD
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Residences at Fairmount | 1017-1031 E Fairmount Ave
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