1606 E. Catalina Drive, Phoenix, AZ
| Property Details |
1606 E. Catalina Drive
Phoenix, AZ
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Private Finance
Loan Terms: 5 year Balloon
Plus Lending Closer Cost |
Price: $260,000
Minimum Down Payment: 15%
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| Interest Rates |
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From 12%-16% |
Cash Option Purchase
or 20% Down Payment
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Wholesale Price:$250,000
Plus Lender Closing Cost
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| Retail Price: $450,000 |
ARV:$550,000 |
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TOTAL MOVE IN: (Down payment plus estimated closing costs and prepaid items)
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| Property Description |
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We just closed on this amazing Commercial opportunity in the Coronado Historic Area. We will be marketing this through this week and if we don't sell we will be starting rehab next week. This commercial office building is zoned C-2 and is located in a great area close to the Childrens hospital, great access to Hwy 51 and I-10. The building is comprised of 6 office spaces which could easily be converted into 8 units and 15 parking spots. The average lease rates for the area are $12/sf or over $42,000 per year in gross income. The cap rates for stabilized commercial properties range from 8% down to even 6.5% if the property is updated properly. Check out 2914 N. 40th Street which sold for $580,000 as a smaller stabilized fully rented office building. In addition, check out 4045 E. Palm which sold for $370,000 as a vacant office building. Both comparables are zoned C-2 and both have similar lot sizes, traffic exposure, street appeal and very close in square footage. Both comparables are also only 3 miles directly to the east. |
Buy this property
To be sold AS-IS.
All cash or Private money sale. Buyer is to verify all facts and figures. All properties offered are either owned,under contract to sell equitable interest or offered in conjunction with business associate.
AP Capital Investments may or may not currently own all of the properties listed on this site and may be marketing the equitable interest however great or small in the given properties. Some of the properties listed on this site are under contract such as the buyer AP Capital. or his associates . As to those properties, AP Capital Investments may not be selling the subject property on this site; rather, AP Capital only selling (without any warranty or or representation other than it is the buyer under the subject contract) its contract rights as buyer of such property. All the inspection as the due diligence is the responsibility of the Buyer.
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