9047 N 11th St Phoenix, AZ 85020
North Central NeighborhoodHighlights
- Cooling Available
- Ceramic Tile Flooring
- Heat Pump System
- Sunnyslope High School Rated A
- Ceiling Fan
About This Home
As of December 2024LET''S BE CLEAR THIS IS A 4 UNIT Property and YOU MUST BUY THE DUPLEX NEXT DOOR. See the listing at 9033 N 11 St concurrently. The numbers are accurate and Tenants are Government Assisted Leases. Please see the Supplemental Remarks for all information. Drive by only. NO FHA OR VA LOANS but you could buy both properties using two separate Residential Loans or both with a Commercial Loan. Should be able to buy with a DCR loan as well. Buyer to verify all facts and figures *Investment Opportunity: Fully Occupied 6-Unit Apartment Building**
Welcome to your next lucrative investment venture! We're thrilled to present to you a prime real estate opportunity nestled in the heart of east Sunnyslope, boasting a fully occupied 6-unit apartment building that's generating exceptional returns. This C-class property stands out with its impressive features, promising steady income and substantial growth potential.
**Key Highlights:**
= **Stable Income**: This property is fully occupied, ensuring a consistent cash flow from day one. With all units leased, you can count on reliable monthly income without the hassle of vacancies.
=° **High Yield**: At an impressive 8.3% cap rate, this investment promises excellent returns compared to industry standards. Your money works hard for you, delivering attractive yields and long-term wealth accumulation.
<3 **Charming Amenities**: Residents enjoy the convenience of storage rooms, providing additional space for their belongings. Plus, some units offer the luxury of private backyards, perfect for relaxation and outdoor activities. New landscaping adds to the property's appeal, enhancing its curb appeal and attracting quality tenants.
<á **Income Stability**: Investing in multi-unit properties offers diversification and resilience. Even during economic downturns, rental properties tend to remain stable, providing a hedge against market volatility.
**Investment Details:**
ª **Location**: Strategically situated in a desirable neighborhood, this property benefits from proximity to schools, parks, shopping centers, and public transportation, ensuring high tenant demand.
ª **Tenant Profile**: The current tenant base consists of reliable, long-term occupants, reflecting the property's appeal and management quality.
ª **Value-Add Potential**: While already performing exceptionally well, there's still room for value enhancement. Consider implementing minor upgrades or rent optimizations to further boost profitability and property appreciation.
ª **Low Maintenance**: With satisfied tenants and well-maintained units, you'll experience minimal operational headaches. Enjoy passive income with peace of mind, knowing that your investment is in good hands.
**Why Invest Now?**
The real estate market is heating up, and opportunities like this don't come by often. Secure your financial future with a proven income-generating asset that offers stability, growth, and remarkable returns. Whether you're a seasoned investor or a newcomer to real estate, this property aligns perfectly with your investment objectives.
Don't miss out on this chance to own a fully occupied 6-unit apartment building with exceptional income potential and value-added opportunities. Act now to seize this golden investment opportunity and start reaping the rewards of passive income and long-term wealth accumulation.
*Disclaimer: All financial figures and investment returns are estimates and subject to market conditions. Buyers are advised to conduct their own due diligence before making any investment decisions.*
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $910
Year Built
- Built in 1958
Home Design
- Foam Roof
- Block Exterior
- Stucco
Interior Spaces
- Ceiling Fan
- Ceramic Tile Flooring
Parking
- 6 Open Parking Spaces
- 6 Parking Spaces
- On-Street Parking
Utilities
- Cooling Available
- Heat Pump System
- Individual Controls for Heating
- Master Water Meter
Listing and Financial Details
- Tenant pays for cable TV
- The owner pays for trash collection, water, sewer
- Assessor Parcel Number 159-35-111-A
Community Details
Overview
- 4 Units
- Building Dimensions are irr
- Waltmore Subdivision
Building Details
- Operating Expense $15,477
- Gross Income $74,263
- Net Operating Income $58,786
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/11/2024 12/11/24 | Sold | $560,000 | -15.7% | $536 / Sq Ft |
| 11/11/2024 11/11/24 | Pending | -- | -- | -- |
| 11/05/2024 11/05/24 | For Sale | $664,000 | 0.0% | $636 / Sq Ft |
| 10/27/2024 10/27/24 | Pending | -- | -- | -- |
| 10/18/2024 10/18/24 | Price Changed | $664,000 | -5.1% | $636 / Sq Ft |
| 09/10/2024 09/10/24 | For Sale | $700,000 | -- | $670 / Sq Ft |
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $910 | $7,444 | -- | -- |
| 2024 | $894 | $7,090 | -- | -- |
| 2023 | $894 | $29,310 | $5,860 | $23,450 |
| 2022 | $865 | $20,700 | $4,140 | $16,560 |
| 2021 | $876 | $17,750 | $3,550 | $14,200 |
| 2020 | $854 | $15,460 | $3,090 | $12,370 |
| 2019 | $838 | $13,360 | $2,670 | $10,690 |
| 2018 | $816 | $11,210 | $2,240 | $8,970 |
| 2017 | $812 | $8,830 | $1,760 | $7,070 |
| 2016 | $798 | $8,100 | $1,620 | $6,480 |
| 2015 | $739 | $6,770 | $1,350 | $5,420 |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $551,000 | New Conventional | |
| Closed | $551,000 | New Conventional | |
| Previous Owner | $666,750 | New Conventional | |
| Previous Owner | $327,360 | New Conventional | |
| Previous Owner | $292,500 | Construction |
Deed History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $580,000 | Wfg National Title Insurance C | |
| Warranty Deed | $580,000 | Wfg National Title Insurance C | |
| Warranty Deed | -- | Empire Title Agency | |
| Warranty Deed | $450,000 | Empire Title Agency | |
| Cash Sale Deed | $65,000 | Chicago Title Agency Inc |
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6755433
APN: 159-35-111
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS
Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393
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