exclusively listed by - loopnet...4241-4246 n 26th st phoenix, az 85016 exclusively listed by: 2929...
TRANSCRIPT
4241-4246 N 26th St Phoenix, AZ 85016
EXCLUSIVELY LISTED BY:
2929 East Camelback Road, Suite 218Phoenix, Arizona 85016(602) 603-1000 | www.TaylorStAdvisors.
www.taylorstadvisors.com
Anton LaaksoInvestment AdvisorTaylor Street Advisors
(602) [email protected]
Brian TranetzkiPrinciple of Taylor StreetTaylor Street Advisors
(602) [email protected]
INVESTMENT PRO FORMA
Unit Mix UnitCount
UnitMix
SquareFeet
Net RentableSquare Feet
Mkt. Rentper Unit
Mkt. Rentper SF
GrossPotential
1 Bdr 1 Bath 7 64% 580 4,060 $1,150 $1.98 $8,050
2 Bdr 1 Bath 4 36% 677 2,708 $1,300 $1.92 $5,200
Total / Average 11 100% 615 6,768 $1,205 $1.95 $13,250NOTE: All square footages are approximate.
UNIT MIX SUMMARY
OFFERING SUMMARY
Price $ 2,099,000
Price / Unit $ 190,818
Price / SqFt $ 310.14
Cap Rate 5.87%
Year Built 1962
Year Renovated 2017
Taylor Street Advisors is pleased to announce the opportunity to acquire The V on 26th Apartment Community. The V on 26th was fully remodeled with new kitchens, granite counter tops, stainless steel appliance package, and in suite washer dryers throughout. Located in the heart of sought after Biltmore, Phoenix with proximity to the Biltmore shopping & finance district as well as Downtown and Midtown Phoenix. There is future upside potential in rent increases due to it’s attractive location and scope of remodel. The V on 26th Apartments provides a remarkable opportunity for immediate value along with considerable future upside potential.
INCOME Per Unit Per SF
All Units at Market Rent $159,000 $14,455 $23.49
GROSS POTENTIAL RENT $159,000 $14,455 $23.49
ECONOMIC LOSSESVacancy Loss (7,950) 5.00% -1.18Total Economic Losses (7,950) 5.00% -$1.18
NET RENTAL INCOME $151,050 $13,732 $22.32
OTHER INCOMEUtility Reimbursement 3,300 300 0.49Total Other Income $3,300 $300 $0.49
EFFECTIVE GROSS INCOME $154,350 $14,032 $22.81
EXPENSESGeneral & Administrative 550 50 0.08Marketing & Promotion 825 75 0.12Repairs & Maintenance 4,400 400 0.65Turnover 2,200 200 0.33Contract Services 1,650 150 0.24Controllable Expenses Subtotal $9,625 $875 $1.42
Utilities 6,020 547 0.89
Management Fee 7,718 702 1.14Real Estate Taxes 5,578 507 082Insurance 2,200 200 0.33
TOTAL OPERATING EXPENSES $31,141 $2,831 $4.60
NET OPERATING INCOME $123,209 $11,201 $18.21
www.taylorstadvisors.com