3123 W Almeria Road

Description

The property located at 3123 W Almeria Rd in Phoenix, AZ, with a zip code of 85009. The property is zoned as R-4, consists of two buildings, and has a land area of 13,260 square feet, with a total square footage of 4,416. The parcel number for this property is 108-26-108-C.This eight-unit apartment building consisting of a mix of one and two-bedroom units. The rents are being raised, and a rent study indicates that they could be further increased to $1,200 per unit. This suggests that the property has potential for increased income and may be a good investment opportunity for a potential buyer.The property also has some recent maintenance work completed, as the seller has repiped the building. This repair work may be a positive for a new owner, as it could reduce the need for futurmaintenance and repair expenses. The property also features ceramic flooring and small backyards for each unit, which could be attractive features for tenants. The seller may also be willing to offer financing through a seller carry, with a down payment of 30 percent, 5 percent interest-only payments, and a 9-year loan term. However, it is important for a potential buyer to verify all facts and figures related to the property before making any decisions. Location From an investor's point of view, the area around 35th Ave and McDowell in Phoenix, AZ is worth considering due to its potential for growth and development. The area is located in the heart of Phoenix and has a mix of residential and commercial properties. Here are some factors that an investor may consider when evaluating the area: Demographics: Understanding the demographics of an area is essential when evaluating an investment opportunity. The area around 35th Ave and McDowell has a diverse population, with a mix of younger and older residents. The median age in the area is around 32 years, and the average household income is around $47,000 per year. The population has been steadily growing over the years, indicating that there is demand for housing in the area. Real estate market: The real estate market in the Phoenix area has been booming in recent years, and the trend is expected to continue. The median home value in the area is around $200,000, which is relatively affordable compared to other cities in the US. Investors may find opportunities in purchasing distressed properties and renovating them for rental or resale purposes. Infrastructure: The area has good access to major roads, including Interstate 10, which connects Phoenix to other major cities in the US. There are also several bus routes and light rail stations in the area, providing residents with easy access to public transportation. The area has several schools and parks, making it attractive to families. Commercial development: The area around 35th Ave and McDowell has several commercial properties, including retail stores, restaurants, and office buildings. Investors may find opportunities in purchasing commercial properties and leasing them out to businesses in the area. Additionally, there may be opportunities for redevelopment and new construction projects in the area. Overall, the area around 35th Ave and McDowell in Phoenix, AZ, has potential for growth and development. With its diverse population, growing real estate market, good infrastructure, and commercial development, investors may find opportunities in both residential and commercial properties in the area. However, as with any investment opportunity, it is essential to conduct thorough research and due diligence before making any decisions.