Property Type:
Multiple Dwellings
Status:
Active
Current Price:
$3,295,000
Last Modified:
12/03/2024
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1538 W OSBORN Road, Phoenix, AZ 85015
$3,295,000
Description
Unlock exceptional returns with this fully renovated 8-unit luxury multifamily property in thriving Midtown Phoenix. Located minutes from Downtown and the airport, this turnkey investment features high-end finishes, modern, fully furnished units, and a resort-style courtyard with a 6-hole putting green, waterfall, and gated dog play area.
Boasting a 2023 Gross Rental Income of $365,061.50 and a favorable GRM of 9.02, this property offers immediate income and strong future appreciation potential. Positioned in one of Phoenix's most desirable neighborhoods, this gated community is perfect for short-term and long-term tenants, driven by Midtown's vibrant cultural, business, and lifestyle scene. Rare opportunity to acquire a top-performing asset in a high-growth market.
More Information MLS# 6756497
Contract Info
Current Price: $3,295,000
List Price: $3,295,000
Status: Active
List Date: 2024-09-12
Ownership: Fee Simple
Location Tax Legal
House Number: 1538
Compass: W
Street Name: OSBORN
St Suffix: Road
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85015
Zip4: 5872
Country: USA
County Code: Maricopa
Subdivision: Encanto Westwood
Assessor Number: 110-15-091
Tax Year: 2023
General Property Description
Lot Size Dimensions: 16848
Year Built: 1953
Uncvrd Parking Spcs: 2
Total # of Units: 8
# of Buildings: 2
Zoning: [M-H] MULTI-FAM
Flood Zone: No
Remarks Misc
Cross Street: 16th Ave and Osborn Rd
Geo Lat: 33.488065
Geo Lon: -112.093055
Status Change Info
Status Change Date: 2024-09-12
Legal Info
Township: 2N
Range: 3E
Section: 30
Lot Number: 10
Income Expenses
Gross Annual Sch Inc: 365061.5
Net Operating Income: 334627.8
Showing Notification Methods
Showing Service: No Showing Service Used
Efficiency Units
# Efficiency Units: 4
Avg SqFt: 506
# Baths: 4
1 Bedroom Units
# 1 Bedroom Units: 4
Avg SqFt: 701
# Baths: 4
Property Features
Project Type: Four Plex; 5 - 12 Units; 13 - 24 Units
Other Type: Hotel/Motel
Construction: Block
Const - Finish: Painted
Roofing: Comp Shingle
Floors: Concrete; Ceramic Tile; Other
Sale Includes: Land & Building; Personal Property
Community Amenities: Play Area; Golf/Putting Green; Shuffle Brd/Lawn Bwl; Barbecue; Other
Exterior Amenities: Landscape Wtr System; Green Landscaping; Desert Landscaping; Fenced; Patio/Balcony; Separate Storage; Security Light(s)
Interior Amenities: Furnished; Fire/Smoke Alarm(s); Mini Blinds
Appliances Included: F/S Oven/Range; Refrigerator; Microwave; Washer/Dryer
Heating: Natural Gas; Individual; Central
Cooling: Ceiling Fan(s); Individual; Central A/C
Water: City Franchise; Individual Meter
Sewer: Sewer - Public
Electric: APS; Individual Meter
Gas: SW Gas; Individual Meter
Parking: Carport; Street Parking; Other (See Remarks)
Owner Pays: Water; Electric; Gas; Trash Collection; Cable TV; Landscaping
Tenant Pays: None
Source of Fincl Data: Provided by Accntnt
Special: Owner/Agent
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Existing 1st Loan: Conventional
New Financing: Cash; VA; FHA; Conventional; 1031 Exchange
Environmental: None
Listing Office: My Home Group Real Estate
Last Updated: December - 03 - 2024
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