4110 N 22nd St., Phoenix, AZ 85016

Fully occupied at a 6.35% cap rate (see documents tab for income and expense pro-forma using the current/actual rents)! This purchase consists of a historic single-family residence plus an adjacent in-line four-plex all on the same 17,971 SF R-3 zoned lot in a highly desirable neighborhood. The interiors and exteriors are in great condition and the curb appeal is excellent. The single-family residence features fresh paint, new tub and shower surround, a combination of original wood flooring plus new tile in the kitchen, bath, and laundry room areas. The kitchen is like new with its LED lighting, granite counters, and finished cabinets. The interior laundry room includes new tile and paint and the washer and dryer are included. The one-story brick four-plex includes one 2 bed/1 bath and three 1 bed/1 bath units. Features include covered parking, on-site laundry, a patio, and separate meter for gas & electricity. These units are in excellent condition with new tile, new cabinets, new granite countertops, new tubs with tiled shower surrounds, and new appliances (refrigerator, dishwasher, microwave, oven, and disposal). Each unit contains the modern Nest Learning Thermostat, LED ceiling fans, and LED lights throughout. There are four brand new exterior water heaters and an on-site storage room. The laundry room is available for tenants and is added monthly income for the owner. Brand new A/C units on the single-family house, Unit 1, and Unit 2 as of 4Q2018. Unit 3 had a new compressor installed in 2017. The property is 4 minutes to Town & Country shopping district and the Camelback Road/Biltmore area.