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1725 E Cambridge Avenue

Phoenix, AZ 85006
  • $5,000,000
  • STATUS: Active
  • ON SITE: 25 Days
  • MLS #: 6387818
UPDATED: 30 min ago
$5,000,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1987
County:
Area:

School Ratings & Info

Description

Prodigy is a 16-unit apartment community located at Thomas Road and 16th street, less than half a mile from State Route 51 (SR 51). Beyond its envious positioning quarter of a mile from Phoenix Children's Hospital and its +/-318,818 employees, this Central Phoenix location is engulfed by well-established, thriving employment corridors within a three-mile commute. Both the Biltmore | Camelback and the Innovation Employment Corridors provide effortless access to top-tier employers such as IBM, Deloitte, Cisco, and Morgan Stanley. Prodigy is entirely two-bedroom units, each 800 square feet. Future ownership will have immediate cash-flow, while having the opportunity to capitalize on current below-market rents as lease turnover leads to each unit becoming marked-to-market.

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© 2022 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than The Copa Team | The Maricopa Real Estate Company. Data last updated 2022-05-18T12:15:00.88.
www.findmaricopa.com/homes/127979925
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1725 E Cambridge Avenue Phoenix, AZ 85006

  • Price: $5,000,000
  • Status: Active
  • On Site: 25 Days
  • Updated: 30 min ago
  • MLS #: 6387818
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1987
Built
County:
Maricopa
Area:
Phoenix
School District:
014 - Creighton Elementary District
Property Description
Prodigy is a 16-unit apartment community located at Thomas Road and 16th street, less than half a mile from State Route 51 (SR 51). Beyond its envious positioning quarter of a mile from Phoenix Children's Hospital and its +/-318,818 employees, this Central Phoenix location is engulfed by well-established, thriving employment corridors within a three-mile commute. Both the Biltmore | Camelback and the Innovation Employment Corridors provide effortless access to top-tier employers such as IBM, Deloitte, Cisco, and Morgan Stanley. Prodigy is entirely two-bedroom units, each 800 square feet. Future ownership will have immediate cash-flow, while having the opportunity to capitalize on current below-market rents as lease turnover leads to each unit becoming marked-to-market.
Exterior Features

Construction Frame - Wood Construction Finish Stucco Covered Parking Spaces 15.00 Lot Size Dimensions 14384 Sq Ft Parking >1 Space Per Unit Roads Asphalt Roofing Comp Shingle

Interior Features

1 Bedroom Unit Avg Sq Ft 0 1 Bedroom Unit Baths 0 2 Bedroom Unit Avg Sq Ft 800 2 Bedroom Units Baths 1 3 Bedroom Unit Avg Sq Ft 0 3 Bedroom Unit Baths 0 4 Bedroom Unit Avg Sq Ft 0 4 Bedroom Unit Baths 0 Appliances Included Bi Oven/RangeRefrigerator Cooling Window/Wall Unit Efficiency Unit Avg Sq Ft 0 Efficiency Unit Baths 0 Floors Ceramic Tile Heating Wall Furnace

Property Features

1 Bedroom Unit Avg Rent 0.00 1 Bedroom Units 0 2 Bedroom Unit Avg Rent 1353.00 2 Bedroom Units 16 3 Bedroom Unit Avg Rent 0.00 3 Bedroom Units 0 4 Bedroom Unit Avg Rent 0.00 4 Bedroom Units 0 Adjusted Gross Inc 276360.70 Annual Elec Exp 14237.00 Annual Ins Exp 4000.00 Annual Landscape Exp 2635.00 Annual Legal And Acctg 3200.00 Annual Maint Exp 9200.00 Annual Mgmt Exp 13215.00 Annual Other Expense 8400.00 Annual Ownr Asoc Fee 0.00 Annual Rplcmnt Rsrvs 4800.00 Community Amenities No Pool Efficiency Unit Avg Rent 0.00 Efficiency Units 0 Electric Srp Gas Sw Gas Gross Annual Sch Inc 278348.00 Hoa YN No Net Operating Income 208084.00 New Financing 1031 ExchangeConventionalNo Carry Operating Exp 68332.00 Other Income 12558.00 Owner Pays LandscapingSewerTrash CollectionWater Project Type 13 - 24 Units Sale Includes Land & Building Sewer Sewer - Public Source Of Financial Data Projected ProformaProvided By Owner Tax Municipality Phoenix Taxes 8645.00 Tenant Pays Electric Vacancy Allowance 0.05 Water Master Meter Zoning R-3

Listing provided by Marcus & Millichap: .


© 2022 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than The Copa Team | The Maricopa Real Estate Company. Data last updated 2022-05-18T12:15:00.88.
 
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The Copa Team | The Maricopa Real Estate Company
21300 N John Wayne Pkwy, Ste 101
Maricopa AZ, 85139-8964