Arcadia Light income property within 10 minutes of Fashion Square, Old Town Scottsdale, ASU, Downtown Phoenix, and 5 minutes to Arcadia and the Biltmore. A single family residence and adjacent duplex on a 16000+ sq ft lot. This property has been fully renovated and all units are currently rented at a gross rental income of $4475.00 per month. In the owner's 16 year span of ownership, this property has achieved a 98% occupancy rate. All rents are current with tenants paying all utilities and owner paying for sewer/water/trash. Leases for long term tenants in the house and one duplex unit have been allowed to convert to month to month. The second duplex unit is leased through September 30, 2020. The house is an original 1948 classic Phoenix home with coved ceilings and arched doorway that were exquisitely remodeled under permit in 2017, adding square footage and blending with high ceilings, modern kitchen lighting and appliances, all new energy efficient windows, extensive cabinetry, stone, and tile works. 3 Large Bedrooms, two with walk-in closets, 2 full bathrooms with updated tile and soaking tub. Master bedroom has a separate entrance to a private backyard. Original wood burning fireplace, new electrical panels, new plumbing and wiring infrastructure throughout, dual AC system, and a 2 car garage with extensive built in storage and work bench. The 1964 Duplex - 1 bed, 1 bath mirror image 750 sq ft units. Mid century modern style units with exposed brick and beamed ceilings. Tile throughout, no carpet. French doors to private fenced back yards with mature landscaping, and covered patio. A new roof was installed within the last 5 years. Fully fenced private yards with significant separation from the house combined with attached covered carport and storage to unit is a market differentiator that commands above market rents. There is nothing like them! This well developed and maintained property offers a multitude of options for either owner occupancy or turn key fully leased investment, or a combination of both.
Listing courtesy of Sterling Fine Properties.
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