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2102 W Morten Ave
Phoenix, AZ 85021
Citrus Hills Apartments · Multifamily Property For Sale
·
5 Units
INVESTMENT HIGHLIGHTS
- Larger private irrigated R-3 lot, grass, citrus trees, private patios, off street parking
- Just two blocks from the Light rail transportation system
- Busy secondary street feeds off 21st ave Northern
EXECUTIVE SUMMARY
Newly furbished apartments on Morten Ave and 21st Ave, just south of 21st Ave Northern - only 2 blocks from the light rail. Great area that is experiencing new renovations and additions. . The 18,000 square foot, irrigated lot houses citrus and pecan trees encompasses a newly-furbished triplex building (all rented), guest house/storage building (not furnished or rented), and 3 bedrooms. The storage room is newly plumbed and furbished for laundry. Check with City P&Z on the Possibility to subdivide or add an additional unit. The Seller is a licensed real estate agent. Tenants are steady most have been over 2 years, rents are below market.
PROPERTY FACTS
| Price Per Unit | $302,892 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.43 AC |
| Cap Rate | 6.82% | Building Size | 3,200 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1958/2019 |
| Property Subtype | Apartment | Parking Ratio | 1.61/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-3 - R-3- Check with Planning and zoning about the possible expansion of another unit. | ||
| Price Per Unit | $302,892 CAD |
| Sale Type | Investment |
| Cap Rate | 6.82% |
| Sale Condition | 1031 Exchange |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.43 AC |
| Building Size | 3,200 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1958/2019 |
| Parking Ratio | 1.61/1,000 SF |
| Zoning | R-3 - R-3- Check with Planning and zoning about the possible expansion of another unit. |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Eat-in Kitchen
- Kitchen
- Breakfast Nook
- Family Room
- Lawn
- Patio
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1 | 1 | $1,859 CAD | 1,200 |
| 1+1 | 4 | $1,890 CAD | 400 - 600 |
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