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2222 E GARFIELD Street Phoenix, AZ $ 1,395,000
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$ 1,395,000 Get more info
2222 E GARFIELD Street
$ 1,395,000
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Share Save

2222 E GARFIELD Street

Phoenix, AZ, 85006
$ 1,395,000
Baths0.0

Monthly Estimate*

$ 9,272

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Studio

Multi-Family Home for sale in Phoenix, AZ

for $1,395,000. This home was built in 1958.

Total Gut and Remodel Unit Mix one 3 bedroom 2 bath, two 2 bedroom 1 bath and one 1 bedroom one bath New Plumbing New Electric New Flooring New Roof and Joists New Air Conditioning New Exterior Stucco and Modern Paint New Concrete Walk Ways New Parking New Dual Pane Windows New Interior and Exterior Doors New Ceiling fans in Living Room and ALL Bedrooms New Landscaping New Cabinets New Bathrooms New Stainless Appliances New Quartz Countertops The Certificate of Occupancy should be delivered around the end of May. All permits will be closed at COE. Buyer should read the additional information here. Buyer to verify all facts and figures. <á **Investment Opportunity: Prime Real Estate with High Potential** Introducing a lucrative investment opportunity in the heart of Garfield District, presenting a meticulously renovated 4-unit property poised to deliver exceptional returns. Situated in a highly sought-after area, this property is strategically positioned near hospitals, ensuring a steady flow of potential tenants seeking convenient accommodation. With a Certificate of Occupancy expected by the end of May, this property shows an rental income upon acquisition. **Property Overview:** - **Unit Mix**: - 1 x 3 Bedroom, 2 Bath - 2 x 2 Bedroom, 1 Bath - 1 x 1 Bedroom, 1 Bath - **Complete Renovation**: Total gut and remodel, ensuring a modern and attractive living space. - **Key Improvements**: - New Plumbing, Electric, and Roof with Reinforced Joists - New Flooring, Air Conditioning, and Exterior Stucco - New Concrete Walkways and Parking Spaces for Tenant Convenience - New Dual Pane Windows and Exterior Doors for Energy Efficiency and Security - New Ceiling Fans in Living Room and ALL Bedrooms for Comfort - New Landscaping for Enhanced Curb Appeal - New Cabinets, Bathrooms, and Stainless Appliances for Modern Living - New Quartz Countertops for a Sleek Finish **Investment Highlights:** 1. **High Demand Location**: Proximity to hospitals ensures a consistent pool of potential tenants, including healthcare professionals and staff. 2. **Turnkey Investment**: With permits closed and a comprehensive renovation nearing completion, investors can expect immediate rental income without the hassle of further improvements. 3. **Diverse Unit Mix**: Catering to various tenant preferences, including families, professionals, and individuals, maximizing occupancy rates and rental income potential. 4. **Quality Craftsmanship**: Renovation carried out with meticulous attention to detail and quality materials, ensuring durability and tenant satisfaction. 5. **Attractive Amenities**: Modern amenities such as ceiling fans, stainless appliances, and quartz countertops offer tenants a comfortable and stylish living experience. 6. **Strong Rental Market**: [Location] boasts a robust rental market, offering stability and potential for long-term capital appreciation. **Investment Strategy:** - **Immediate Income Generation**: Start earning rental income as soon as the Certificate of Occupancy is issued, maximizing return on investment. - **Long-Term Appreciation**: Capitalize on the property's potential for appreciation in value, driven by its prime location and high-quality renovations. - **Tenant Retention**: Provide exceptional living standards to attract and retain quality tenants, ensuring consistent cash flow and minimal vacancy rates. Don't miss out on this exceptional opportunity to invest in a newly renovated property with immense income potential.

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Multi-Family Active

Price

$ 1,395,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 931

Style

Multiple Dwellings

Year Built

1958

Town/City

Phoenix

County/Region

Maricopa

MLS | Web ID

6688201
Features
General
Sewer Public Sewer
Heating Individual Heat Pump
Cooling Individual Heat Pump Electric Ceiling Fan(s)
Roof Composition
Zoning R-4
Construction Materials Stucco Block
Year Built 1958
Electric APS Individual Meter
Tenant Pays Electricity Cable TV
Township 1N
Tax Year 2022
Percent Ownership Fee Simple
Gross Income 90559.2
Community Features Other See Remarks No Pool
County Maricopa
Net Operating Income 80268.0
Operating Expense 10548.0
Insurance Expense 2597.0
Property Type Multiple Dwellings
Attached Garage N
Subdivision Name BUMBALOW HEIGHTS
Garage Y/N N
Status Active
Directions East on Roosevelt to 22 Street and Turn South-Property in on the West side of the street
City Phoenix
Buyer Agent Compensation 3.00
Disclosures Other (See Remarks) Seller Prop Disc Stm APOD/Backup Avaible Sch of Personal Prop
View Y/N N
High School District Phoenix Union High School District
Open Parking Spaces 6.0
NumberOfUnitsTotal 4
Lot Size Square Feet 0.0
Carport Y/N N
Street Name GARFIELD
Elementary School Creighton Elementary School
Tax Annual Amount 931.0
Electric Expense 0.0
Current Financing Not Applicable
Fuel Expense 0.0
Trash Expense 0.0
Water Sewer Expense 2300.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Virtual Tour https://tours.arizonarealtours.com/1950833?idx=1
Days on Market 59
Standard Status Active
Occupancy Type Vacant
Elementary School District Creighton Elementary District
Tax Lot 2
Cap Rate 5.75
Buyer Agent Compensation Type %
New_sp_Financing_co_Conventional5 True
Ownership Fee Simple
Senior Community N
New Financing True
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Interior
Flooring Ceramic Tile
Air Conditioning Y/N Y
Heating Y/N Y
Street Suffix Street
Electric On Property Y/N N
Total Baths 0
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Exterior
Parking Features Paved Parking Free >1 Space Per Unit
Water Source City Franchise Master Meter
Total Parking 6.0
Lot Size Area 0.0
Number of Buildings 1
Spa N
Lot Dimensions 6764
Lot Size Acres 0.0
Road Surface Type Asphalt Curb(s) & Gutter(s) Sidewalk(s) Alley
Covered Spaces 0.0
Crops Included Y/N N
Open Parking Y/N N
Irrigation Water Rights Y/N N
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Internal Only
Street Number 1 2222
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* Excluded Features
List By
Gerchick Real Estate

Broker

Linda@justsoldit.com

Email

Affordability Calculator

$9,349
Per Month
99%
1%
0%
Monthly Principal & Interest
$9,272
Monthly Property Taxes
$78
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4327393 Elementary School
4327058 Middle School
Unknown High School High School
See complete school information
Pricing History
Date Price Price Change Description
4/7/2024 $1,395,000 Listed Price

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2222 E GARFIELD Street, Phoenix, AZ, 85006 is a Multi-Family Home for sale at $1,395,000. 2222 E GARFIELD Street is a studio with 0.0 baths and was built in 1958. The property's zip code is 85006 which is in Phoenix, AZ

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