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ABIMultifamily.com/portfolio/49th-PlaceFor more information please visit:49TH PLACE APARTMENTS49TH PLACE APARTMENTS
2040-2048 NORTH 49TH PLACE, PHOENIX, AZ 850082040-2048 NORTH 49TH PLACE, PHOENIX, AZ 85008
Long-Term Tenants & Consistent Cash Flow
Value-Add Opportunity Through Additional Interior & Exterior Renovations
On-Site Laundry Facility
Some Newer Air Conditioning Units
Covered Parking Spaces
Quiet Cul-de-Sac
Large Backyard Area
Spacious Courtyards
Offering Price: $695,000 9-Unit Multifamily Community in Phoenix, AZ
ABIMultifamily.com Phoenix Headquarters: 4715 N. 32nd Street, Suite 105, Phoenix, AZ 85018 Tel: 602.714.1400
PROPERTY OVERVIEW
Price $695,000Per Unit $77,222
Per SF $112.79Pro Forma CAP 7.64%
# of Units 9Avg SF/Unit 685 SF
Built 1960
MARKET PRO FORMA
Unit Type Count % Total Size (SF) Rent Rent/SF
1 Bed / 1 Bath 5 55.6 618 $675 $1.09
2 Bed / 1 Bath 4 44.4 768 $775 $1.01
Totals / Averages 9 100% 684 $719 $1.05
INCOME & EXPENSES
Income Total Per Unit
Gross Scheduled Income $77,700 $8,633
Less: Vacancy ($3,885) ($431)
Net Rental Revenue $73,815 $8,202
Add: Other Income / RUBS $5,838 $648
Effective Gross Income $79,653 $8,850
Expenses
Management & Admin $4,429 $492
Repairs & Maintenance $3,150 $350
Contract Services $500 $55
Utilities $13,653 $1,517
Insurance $1,800 $200
Real Estate Taxes $2,993 $332
Total Operating Expenses $26,525 $2,947
Net Operating Income $53,128 $5,903
All information provided in reference to the property has been collected from sources deemed reliable. However, no representations or warranties are made as to the accuracy ofsaid information. In addition, no warranty or representation is extended to errors, omissions, change of price or other conditions. Any projections, estimates, opinions, financial orother assumptions are provided for example purposes and do not represent current or future performance of the property. Please consult with your legal, financial and taxprofessionals to make any determinations regarding whether the property is suitable for your needs and purposes.
OFFERING PRICE: $695,000
TOTAL UNITS: 9
YEAR BUILT: 1960
2040-2048 North 49th Place is an excellent opportunity to own nineadjacent units in a location convenient to the Loop 202 (leads to I-10)and 143 Freeway. The vibrant Phoenix area offers numerous dining,entertainment, and recreational opportunities within minutes ofthe community. Located two miles southeast of the property standsPhoenix’s iconic 1,200-acre Papago Park, which is home to numerousattractions including: Desert Botanical Gardens, Phoenix Zoo, PapagoGolf Course, Papago Sports Complex, as well as, miles of hiking trails,bike paths, and lakes.
The block / frame constructed properties were built iteratively in 1960and 1961 and has a unit mix which consists of 5 one-bedroom /one-bathroom units and 4 two-bedroom / one-bathroom units. Eachunit is individually metered for electricity, air conditioning, and heat.The community has an on-site laundry, large courtyards, coveredparking, and a spacious backyard.
Significant employers in proximity to the property include Arizona StateUniversity, ON Semiconductor, Salt River Project and Sonoran QuestLaboratories and Phoenix Sky Harbor International Airport.
49TH PLACE APARTMENTS2040-2048 NORTH 49TH PLACE, PHOENIX, AZ
PRIMARY LISTING ROYCE MUNROECONTACT: Vice President
John Kobierowski Alon Shnitzer Rue Bax Doug Lazovick Eddie Chang
Brad Pickering Nathan Bruer Patrick Burch John Klocek Royce Munroe Ryan Smith
ABI MULTIFAMILY PHOENIX:
For more information please visit:ABIMultifamily.com/portfolio/49th-Place
49TH PLACE APARTMENTS