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3333 W 8TH Street, Thatcher, AZ 85552

$4,582,890
Property Type: Multiple Dwellings Status: Closed
Current Price: $4,582,890 Last Modified: 12/18/2024

Description

8th Street Apartments & Fitness Club. Historic 10+% CAP Rate. 11 buildings, 5.17 acres. 93 income units: 88 residential,fitness club,3 office & laundry. Option (see documents) to purchase 75 Apts Laundry for $4.0 million (Divide residential & commercial). Fitness Club built 1981 & newer constructed Apts added since 2003 (average age 5 years). Additional 5,250sf expansion to Fitness Club + 3 commercial offices completed 2016. Club open to public Includes:heated indoor pool, spa, sauna, racketball, gym etc. Steady cash flow & history 95% occupancy. Zoned C-M commercial, residential, retail. Additional $ growth opportunity: 1/2 acre shovel ready land for new construction of 10-12 2BR Apts (in place-power, water, sewer). On site managers will stay. Prospectus + financials to qualified Buyer

More Information MLS# 5525663

Contract Info

Current Price: $4,582,890 Sold Price: $4,582,890 Status: Closed List Date: 2016-11-15 Ownership: Other (See Remarks)

Location Tax Legal

Map Code/Grid: C74 House Number: 3333 Compass: W Street Name: 8TH St Suffix: Street City/Town Code: Thatcher State/Province: AZ Zip Code: 85552 Country: USA County Code: Graham Subdivision: 2 parcels totaling 5.17 acres Assessor Number: 104-40-020 Tax Year: 2015

General Property Description

Lot Size Dimensions: 5.17 acres Year Built: 1981 Uncvrd Parking Spcs: 100 Total # of Units: 93 # of Buildings: 11 Zoning: C-M

Remarks Misc

Cross Street: : Route 70 and Reay Lane in Thatcher, Arizona Directions: Proceed south on Reay Lane, turn left (east) on West 8th Street to property. Located 160 miles East of Phoenix on Route 70 in Thatcher near Safford in high sonoran desert & Mount Graham, Graham County Geo Lat: 32.831381 Geo Lon: -109.755757

Status Change Info

Status Change Date: 2017-11-10 Off Market Date: 2017-11-10 Under Contract Date: 2017-07-19 Close of Escrow Date: 2017-11-09 Sold Price: $4,582,890

Legal Info

Lot Number: 104-40-020 & 38

Income Expenses

Gross Annual Sch Inc: 818328 Net Operating Income: 509077

Efficiency Units

# Efficiency Units: 31 Avg Rent: 500 # Baths: 1

1 Bedroom Units

# 1 Bedroom Units: 23 Avg Rent: 700 # Baths: 1

2 Bedroom Units

# 2 Bedroom Units: 33 Avg Rent: 775 # Baths: 1

3 Bedrooms Units

# 3 Bedroom Units: 1 Avg Rent: 1100 # Baths: 1

Sold Info

Loan Type: Conventional Loan Years: 15 Payment Type: Fixed Closing Cost Split: Normal - N Buyer Concession $/%: $ Seller Concession $/%: $

Property Features

Project Type: 51 - 99 Units; Other (See Remarks) Other Type: House + Rental Units; Packaged Offering; Other (See Remarks) Construction: Block; Frame - Wood Const - Finish: Painted; Stucco Roofing: Other (See Remarks) Floors: Other Sale Includes: Building(s) Only; Land & Building; Pool Equipment; Laundry Equipment; Other (See Remarks) Community Amenities: Heated Pool(s); Heated Spa(s); Sauna; Manager Res/Office; General Store; Community Showers; Clubhouse; Exercise Room; Play Area; Sport Court; Barbecue; Other; See Remarks Exterior Amenities: Landscape Wtr System; Desert Landscaping; Partially Fenced; Cable TV Available; Patio/Balcony Interior Amenities: Unfurnished; Partially Furnished; Fire/Smoke Alarm(s) Appliances Included: BI Oven/Range; Refrigerator Heating: Central Cooling: Electric Water: Other; See Remarks Sewer: Sewer - Public Electric: Other (See Remarks) Gas: None Parking: Carport; <1 Space Per Unit; Add'l Parking Avail; Assigned; Paved Parking Owner Pays: Water Tenant Pays: Other (See Remarks) Source of Fincl Data: Provided by Owner; Projected Proforma; Books Shwn Accpt Ofr; Other (See Remarks) Existing 1st Loan: Conventional Existing 1st Ln Type: Fixed Existing 1st Ln Trms: Assume - Qualify; No Prepay Penalty; Not Applicable Existing 2nd Loan: Other (See Remarks) Existing 2nd Ln Type: Fixed Existing 2nd Ln Trms: Non Assumable Existing 3rd Loan: Other (See Remarks) Existing 3rd Ln Type: Not Applicable Existing 3rd Ln Trms: Non Assumable Existing Othr Ln Trm: Not Applicable New Financing: Conventional; Other (See Remarks) Environmental: None
Listing Office: HomeSmart
Last Updated: December - 18 - 2024
3333 W 8TH Street, Thatcher, AZ 85552- MLS# 5525663
Broker Attribution: 480-242-6500

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