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ABIMultifamily.com/portfolio/Tres-ArcosFor more information please visit:TRES ARCOS APARTMENTSTRES ARCOS APARTMENTS
4750 NORTH 28TH STREET, PHOENIX, AZ 850164750 NORTH 28TH STREET, PHOENIX, AZ 85016
25 Units, All Two-Bedrooms, Built in 1969
Covered Parking and Individual Backyards
Individually Metered for Electricity & Hot Water
Consistently Fully Occupied
Walking Distance to The Biltmore & Camelback Corridor
Value-Add Opportunity Through Additional Interior & Exterior Renovations
Held by Current Ownership for 48 Years
Prime Location for Possible Redevelopment
Swimming Pool and Onsite Laundry Facility
All Cash / New Loan
Offering Price: $3,999,999 25 Unit Multifamily Community in Phoenix, AZ
ABIMultifamily.com Phoenix Headquarters: 4715 N. 32nd Street, Suite 105, Phoenix, AZ 85018 Tel: 602.714.1400
PROPERTY OVERVIEW
Price $3,999,999Per Unit $160,000
Per SF $199.25Pro Forma CAP 5.35%
# of Units 25Avg SF/Unit 803 SF
Built 1969
MARKET PRO FORMA
Unit Type Count % Total Size (SF) Rent Rent/SF
2 Bed / 1 Bath 25 100.0 803 $1,200 $1.49
Totals / Averages 25 100% 803 $1,200 $1.49
INCOME & EXPENSESIncome Total Per Unit
Gross Scheduled Income $360,000 $14,400
Less: Loss to Lease (12.7%) ($45,601) ($1,824)
Gross Potential Rent: $314,399 $12,575
Less: Vacancy (5.0%) ($15,720) ($628)
Net Rental Revenue $298,679 $11,947
Less: Concessions / Bad Debt / Other (1.5%) ($4,716) ($188)
Add: Other Income $8,125 $325
Add: RUBS $12,420 $496
Effective Gross Income $314,508 $12,580
Expenses
Payroll $12,500 $500
Utilities $28,475 $1,139
Repairs & Maintenance / Contract Services $12,500 $500
Marketing $1,250 $50
General & Administrative $5,000 $200
Turnover $1,875 $75
Management Fee (4.0%) $12,580 $503
Real Estate Taxes $13,766 $550
Insurance $5,000 $200
Replacement Reserves $7,500 $300
Total Operating Expenses $100,446 $4,017
Net Operating Income $214,062 $8,562
All information provided in reference to the property has been collected from sources deemed reliable. However, no representations or warranties are made as to the accuracy ofsaid information. In addition, no warranty or representation is extended to errors, omissions, change of price or other conditions. Any projections, estimates, opinions, financial orother assumptions are provided for example purposes and do not represent current or future performance of the property. Please consult with your legal, financial and taxprofessionals to make any determinations regarding whether the property is suitable for your needs and purposes.
OFFERING PRICE: $3,999,999
TOTAL UNITS: 25
YEAR BUILT: 1969
Tres Arcos is a 25-unit apartment community located in the heartof Phoenix. Nestled among historic neighborhoods and highlyrenovated properties, Tres Arcos is located one block from theArizona Biltmore. Residents enjoy the close proximity to BiltmoreFashion Park and all the amenities within the CamelbackCorridor. Tres Arcos is an extremely desirable location forresidents and has consistently stayed fully occupied.Tres Arcos is a 1969 block-constructed property consisting ofseven single-level buildings. It's vintage charm lends itself to thepopular mid-century modern renovation trend that is in highdemand by residents and investors alike. The property consists ofall two-bedroom units with individual backyards, lush courtyardsbetween the buildings and covered parking for each unit. TresArcos is individually metered for electricity and hot water andenjoys an onsite laundry facility and recently renovatedswimming pool. Very few properties can provide the location andredevelopment potential that the community has to offer.
TRES ARCOS APARTMENTS4750 NORTH 28TH STREET, PHOENIX, AZ 85016
PRIMARY LISTING ROYCE MUNROECONTACT: Vice President
John Kobierowski Alon Shnitzer Rue Bax Doug Lazovick Eddie Chang
Brad Pickering Nathan Bruer Patrick Burch John Klocek Royce Munroe Ryan Smith
ABI MULTIFAMILY PHOENIX:
For more information please visit:ABIMultifamily.com/portfolio/Tres-Arcos
TRES ARCOS APARTMENTS