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Buy&Hold (Multifamily): (5 Units) 1027 E Dunlap Ave, Phoenix, AZ - SOLD

Updated: Aug 13, 2023

Multifamily Investment Opportunity









Price

$610,000



Investment Overview:


Address: 1027 E Dunlap Ave, Phoenix, AZ 85020 (Duplex & Triplex)

Property Type: Multifamily (Duplex & Triplex)

Unit Configuration: All 1 bedroom, 1 bathroom units

Lot Size: 13,350 sq. ft.

Living Sq. Ft: 2,464 sq. ft.


Property Details:


This off market multifamily property presents an excellent investment opportunity in the highly sought-after Phoenix, AZ market. Located at 1027 E Dunlap Ave, this property consists of a duplex and a triplex, offering a total of five 1-bedroom, 1-bathroom units. The property sits on a spacious lot of 13,350 sq. ft. and boasts a living area of 2,464 sq. ft.


Income Potential: With the property currently achieving a cash flow of $1,700 per month at 40% occupancy, there is significant room for improvement. Market rents for 1-bedroom, 1-bathroom units in the area range between $1,200 and $1,400 per month. This presents an opportunity to increase the rental income substantially. The gross rent potential of the property, assuming 100% occupancy, ranges from $72,000 to $84,000 per year.


Investment Strategy: The property is currently offered at a competitive purchase price of $610,000.00, with the assignment already built into the price. For wholesalers, there is the potential to add a fee on top of the purchase price. The close of escrow is scheduled on or before 7/28/23, allowing for a swift acquisition process. The due diligence period commences on 7/8/23, providing ample time for thorough property inspections and assessments. An earnest money deposit (EMD) of $5,000.00 is required to secure the property.


This off market multifamily investment opportunity offers strong income potential and the chance to capitalize on the robust rental market in Phoenix. Don't miss your chance to acquire this property and maximize its value. Contact us today for further information or to arrange a viewing. Please submit all offers directly to sarter@promiselandrealtyllc.com



Property Map:




"Your #1 Source for Off Market Investment Properties NATIONWIDE"



PROMISE LAND REALTY, LLC

Work: 864-762-2509


All Off Market Properties are sold 'As-Is'. Buyer must do their due diligence. Sold on warranty deed. We are selling our assignable interest. You do NOT HAVE PERMISSION to market this property WITHOUT EXPRESSED WRITTEN CONSENT. Proof of Funds is required with all offers. Earnest Money Deposit due within 48 hours of accepted offer. Closings are done quickly and with a title company/closing attorney. *Realtors add your fee on top*

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