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Duplex w/Separate Parcel w/plans-build 4 plex 8916 N 11th St 2 Unit Apartment Building £403,807 (£201,903/Unit) 5.21% Net Initial Yield Phoenix, AZ 85020

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INVESTMENT HIGHLIGHTS

  • Keep the Duplex and add the Fourplex
  • NO Seller Carry
  • Entitlements are close to being done
  • Motivated Seller-bring reasonable offers

EXECUTIVE SUMMARY

Searching for the perfect investment opportunity in the charming Sunnyslope neighborhood of Phoenix? Look no further! We are excited to introduce you to a unique property that combines the charm of a duplex with the potential to build a fourplex, all in the heart of Sunnyslope, with fantastic amenities and employment opportunities nearby.
**Property Details:**
- 2 Units individually metered for Electric
- Condition: Excellent
- Lot Approval: Ready to Build a Fourplex-all reports and plans included
- Nearby Amenities: Beautiful Park Across the Street
**Duplex Features:**
- Impeccably maintained
- Spacious living areas
- Private outdoor spaces
- Ideal for both owner-occupants and investors
**Fourplex Potential:**
- Approved lot for a fourplex
- Capitalize on the strong demand for multi-family units
- Increase your rental income and investment portfolio
**Neighborhood Highlights:**
- Proximity to top employers in the area
- Convenient access to major highways
- Excellent schools nearby
- Thriving local businesses and restaurants
- Beautiful park right across the street, perfect for outdoor activities
attached Site plan, Civil plans and the invoice for the building plans. There is some minor work that needs to be completed before the building plans and Mechanical and plumbing can be finished. We have sent an email to stimulate progress on this work again.
There will need to be some Civil engineering/planning completed we will work on that for fireline, Water/sewer and updates to grading and drainage plans.
Building plans will be worked on and completed in the coming weeks. I have attached the invoice for the firm.
In summary -
The outbuilding was demolished and removed from the property
The back lot is separate and has a separate address filed with the City - 8918 N 11th St
Variances for drive lane and minimum lot size have been successfully filed, they will need to be renewed
Site Plan is completed
Civil drawings for Grading and drainage are completed, require minor updates
Civil work for fireline, Water/sewer will need to be completed
Building plans were waiting for Site plan - will get these finished
Mechanical and electrical plans are pending building plans
Welcome to Sunnyslope, the hidden gem of the Southwest! Nestled in the heart of Arizona, this vibrant and diverse community boasts a unique charm that captures the essence of the desert. With its picturesque landscapes, rich history, and friendly atmosphere, Sunnyslope is the perfect place to call home.
?? **Homes as Unique as You** ??
Find your dream home in Sunnyslope, where real estate options are as diverse as the people who call this place home. Whether you prefer a cozy desert bungalow or a luxurious modern villa, Sunnyslope has it all. Experience the joy of waking up to breathtaking mountain views and sun-kissed skies right outside your window.
?? **Explore Nature's Wonderland** ??
Sunnyslope is a nature lover's paradise, offering countless outdoor adventures. Hike along the stunning trails of the North Mountain Preserve, where you'll encounter rugged terrain and captivating desert flora and fauna. The nearby Arizona Canal Trail provides a peaceful path for biking, jogging, or leisurely strolls.
?? **Savor the Local Flavor** ???
Dive into the culinary scene of Sunnyslope, where you'll discover an array of restaurants and cafes offering delicious cuisine from around the world. Whether you're craving southwestern flavors, international dishes, or farm-to-table delights, Sunnyslope's dining scene has something to satisfy every palate.
?? **Community Spirit** ??
Sunnyslope is not just a place to live; it's a tight-knit community where neighbors become friends and memories are made. Local events, farmer's markets, and community festivals keep the spirit alive year-round. Get involved and become a part of something special.
??? **Shop Local Treasures** ???
Explore Sunnyslope's unique boutiques, galleries, and markets. From handcrafted jewelry to desert-inspired art, you'll find one-of-a-kind treasures that make for perfect souvenirs or gifts for loved ones.
?? **Education Excellence** ??
Sunnyslope takes pride in its top-rated schools, ensuring that your children receive a quality education in a supportive environment.
?? **Sunnyslope Awaits You** ??
Escape the ordinary and embrace the extraordinary in Sunnyslope, AZ. Whether you're seeking a serene retirement destination, a family-friendly community, or a place to start a new adventure, Sunnyslope has something for everyone.
Don't miss the chance to experience the magic of Sunnyslope. Join our vibrant community and create a life filled with sunshine, adventure, and endless possibilities.
?? **Sunnyslope, AZ - Where Every Day is a Sunny Day!** ??

FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access

ANNUAL ANNUAL PER sq ft
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per sq ft $9.99
Other Income
Annual $99,999
Annual Per sq ft $9.99
Vacancy Loss
Annual $99,999
Annual Per sq ft $9.99
Effective Gross Income
Annual $99,999
Annual Per sq ft $9.99
Taxes
Annual $99,999
Annual Per sq ft $9.99
Operating Expenses
Annual $99,999
Annual Per sq ft $9.99
Total Expenses
Annual $99,999
Annual Per sq ft $9.99
Net Operating Income
Annual $99,999
Annual Per sq ft $9.99

PROPERTY FACTS

Price £403,807
Price Per Unit £201,903
Sale Type Investment
Yield 5.21%
Gross Rent Multiplier 17.42
No. Units 2
Property Type Build-to-Rent
Property Subtype Apartment
Apartment Style Low-Rise
Costar Property Class C
Total Plot Size 0.21 ac
Property Size 2,044 sq ft
Average Occupancy 50%
No. Floors 1
Year Built 1964
Parking Allocation 2.78/1,000 sq ft
Use Class R-4 - Residential

AMENITIES

  • Smoke Detector

UNIT AMENITIES

  • Air Conditioning
  • Cable Ready
  • Storage Space
  • Washer/Dryer
  • Heating
  • Ceiling Fans
  • Tile Floors
  • Kitchen
  • Refrigerator
  • Range
  • Tub/Shower
  • Carpet
  • Linen Cupboard
  • Patio

SITE AMENITIES

  • Storage Space

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT PCM sq ft
1+1 1 £1,108 788
2+1.5 1 £1,108 1,066
Walk Score®
Easily Walkable (78)
Bike Score®
Good for cycling (77)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures how walkable a location is.
Transit Score® measures access to public transport.
Bike Score® measures how accessible a location is by bike
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures how walkable
a location is. Transit Score®
measures access to public transport. Bike Score®
measures how accessible a location is by bike®
  • Listing ID: 30807177

  • Date on Market: 29/01/2024

  • Last Updated:

  • Address: 8916 N 11th St, Phoenix, AZ 85020

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