Description
Jumbo 4plex in booming Cottonwood. Built in 1987. 3 BR/1.5 BA lower units;3 BR/2BA upper units. 1063 sf/unit. Generous 10,853 SF. All units have a garage + carport for 2 units. Courtyard. Great views of mountains. Rents are currently $1,074/$1,275/$1,035/$1,195 (Very low!) $4579 gross or $54,948/year projected. All leases are month-to-month or expire soon. 4.5 cap rate +/- w/ lots of potential. ALL NEW STUCCO EXTERIOR & REPAINT at a cost of $42,000+. Value-add. Cottonwood rental demand is off the charts! Only $211/sf in one of the hottest rental markets in AZ! Compare this to the much higher prices/sf in the Valley! Rents should be much higher, especially with some cosmetic upgrades. Just 30 minutes to Sedona or Prescott! Corner lot. Buyer to complete/rely on own due diligence.
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0BEDS
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N/AACRES
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0BATHS
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01/2 BATHS
Description
Jumbo 4plex in booming Cottonwood. Built in 1987. 3 BR/1.5 BA lower units;3 BR/2BA upper units. 1063 sf/unit. Generous 10,853 SF. All units have a garage + carport for 2 units. Courtyard. Great views of mountains. Rents are currently $1,074/$1,275/$1,035/$1,195 (Very low!) $4579 gross or $54,948/year projected. All leases are month-to-month or expire soon. 4.5 cap rate +/- w/ lots of potential. ALL NEW STUCCO EXTERIOR & REPAINT at a cost of $42,000+. Value-add. Cottonwood rental demand is off the charts! Only $211/sf in one of the hottest rental markets in AZ! Compare this to the much higher prices/sf in the Valley! Rents should be much higher, especially with some cosmetic upgrades. Just 30 minutes to Sedona or Prescott! Corner lot. Buyer to complete/rely on own due diligence.
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