2222 E GARFIELD Street, Phoenix, AZ 85006

$1,395,000

**Investment Opportunity: Prime Real Estate with High Potential** *Hands-Off Investment on a Triple Net Lease*Introducing an exceptional investment opportunity in the heart of the Roosevelt Historical District, offering a fully renovated, hands-off investment property with an established tenant under a pure triple net lease (NNN). This 4-unit property,… Read More meticulously upgraded, is leased to a single tenant who covers 100% of all expenses, making this a hassle-free investment that promises consistent cash flow. With a cap rate of over 7.5%, this property offers an attractive income-generating opportunity. The Property will be occupied on 11/1/2024 with a three year lease and rental bumps year two and three. Buyer should read the additional information here. Buyer to verify all facts **Investment Opportunity: Prime Real Estate with High Potential** *Hands-Off Investment on a Triple Net Lease* Introducing an exceptional investment opportunity in the heart of the Roosevelt Historical District, offering a fully renovated, hands-off investment property with an established tenant under a pure triple net lease (NNN). This 4-unit property, meticulously upgraded, is leased to a single tenant who covers 100% of all expenses, making this a hassle-free investment that promises consistent cash flow. With a cap rate of over 7.5%, this property offers an attractive income-generating opportunity. The Property will be occupied on 11/1/2024 with a three year lease and rental bumps year two and three. **Property Overview:** - **Unit Mix**: - 1 x 3 Bedroom, 2 Bath - 2 x 2 Bedroom, 1 Bath - 1 x 1 Bedroom, 1 Bath - **Complete Renovation**: The property has undergone a full gut and remodel, presenting a contemporary and attractive living space for tenants. - **Key Upgrades**: - All-new plumbing, electric systems, and reinforced roof joists - New air conditioning units, flooring, and exterior stucco - Modern dual pane windows and new exterior doors for security and energy efficiency - Fresh concrete walkways and parking spaces, ensuring convenience for tenants - New ceiling fans in living rooms and all bedrooms for comfort - New landscaping to enhance curb appeal - Stylish new cabinets, bathrooms, stainless steel appliances, and quartz countertops **Investment Highlights:** 1. **Turnkey Investment**: With renovations completed and permits finalized, the property is ready to generate immediate rental income. 2. **Versatile Unit Mix**: A diverse selection of unit sizes to accommodate families, professionals, and individuals, enhancing occupancy rates. 3. **High-Quality Renovation**: Every detail of the renovation was completed with precision, offering durability and ensuring tenant satisfaction. 4. **Modern Amenities**: Tenants will enjoy the convenience of modern appliances, attractive finishes, and energy-efficient features. 5. **High Cap Rate**: With a cap rate of over 7.5%, this property provides a strong income stream and attractive investment potential. **Investment Strategy:** - **Immediate Income**: Rental income begins upon acquisition. - **Long-Term Growth**: Located in a thriving area, this property is positioned for future appreciation. - **Hassle-Free Management**: The NNN lease structure means the tenant handles all expenses, including maintenance, taxes, and insurance, while you enjoy passive income. Don't miss this opportunity to invest in a hands-off, income-generating property that's ready to deliver returns from day one. Read Less

Courtesy of Gerchick Real Estate 602-688-9279

Listing Snapshot

Days Online

208

Last Updated

Nov 24, 2024

Property Type

Other

Year Built

1958

MLS Number

6688201

Additional Details

Appliances & Equipment

"Other (See Remarks)", "F/S Oven/Range", "Microwave", "Washer/Dryer"

Building

Built in 1958, Construction materials: "Painted", "Stucco", "Block", 4 total units

Cooling

"Individual", "Heat Pump", "Electric", "Ceiling Fan(s)"

Floors

"Ceramic Tile"

Heating

"Individual", "Heat Pump"

Parking

"Paved Parking", "Free", ">1 Space Per Unit", "Street Parking", 6 total parkings

Property

Zoning: R-4

Roof

"Composition", "Rolled/Hot Mop"

Sewer

"Public Sewer"

Taxes

Annual amount: $1,971, Lot: 2

Tenant Pays

"See Remarks", "Trash Collection", "Electricity", "Water", "Sewer", "Cable TV", "Landscaping"

Utilities

"APS", "Individual Meter"

Find The Perfect Home

'VIP' Listing Search

Whenever a listing hits the market that matches your criteria you will be immediately notified.

Join The List

Mortgage Calculator

Selling price

Down payment

Term (years)

Interest rate (%)

Monthly Payment

2222 E GARFIELD Street

'VIP' Listing Search

Schools In The Area

Similar Listings

'VIP' Property Search

1. Neighborhoods

2. Home Type

3. Send