For Sale: 18 Unit Apartment Complex
Loan Overview:
MYRTLE MANOR APARTMENTS
5233 West MYRTLE AVE GLENDALE, AZ 85301
Exclusively Presented By:
ASHALATHA BADIREDDI PLLC ASSOCIATE BROKER/ REALTOR® RAPIDO REALTY LLC
9345 W SANDS DR
PEORIA AZ 85383
Ph: 623-293-0648
Fax: 623-321-9573
Email: reddiasha@gmail.com
PRICE: $1,530,000
18 UNITS: 2 BED 2 BATH EACH UNIT 960 SQ FT EACH ALL APPLIANCES INCLUDED!!
COOKING STOVE, FRIDGE, DISHWASHER, WASHING MACHINES AND DRYERS
IN EACH UNIT
100% OCCUPIED
APN: 147-16-019 & 147-16-017
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Myrtle Manor Apartments |
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5233 W MYRTLE AVE, GLENDALE |
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Proforma JAN 2017 to DEC 2017 |
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General |
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Offer Price |
$ 1,530,000 |
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No of Units |
18 |
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Cost/Unit |
$ 85,000/door |
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Sq ft/Unit |
960 |
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Rate sq ft/Unit |
$ 88.54/sq ft |
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Rent/Door avg |
$750 |
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Income (Proforma) |
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Rental Income |
$ 162,000 |
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Other Income |
$ 2,500 |
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Total Income |
$ 164,500 |
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Expenses (Annual) |
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Water/Sewer/Trash |
$ 12,100 |
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Electricity |
$ 2,300 |
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Property Taxes/Insurance |
$ 9,600 |
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Repairs & Maintenance |
$ 9,700 |
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Property Management |
$ 8,400 |
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Total Expense |
$ 42,100 |
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Summary |
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Annual Rental Income |
$ 162,000 |
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Annual Operating Income |
$ 164,500 |
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Annual Expenses |
$ 42,100 |
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Net Operating Income (NOI) |
$ 122,400 |
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Net Cash Flow Per Month |
$ 10,200 |
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Profit Per Year |
$ 122,400 |
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CAP RATE |
8.00% |
