2118 W Belmont Ave Phoenix, AZ 85021

Listing details for 2118 W Belmont Ave, Phoenix, AZ 85021 : Six unit complex with hard to find all two bedroom unit mix (729 sf/unit). Located in a quiet residential neighborhood, just south of Northern Ave. Close to LRT, Grand Canyon U, and Christown Mall. Many owner-occupied neighbors. Jumbo 17,500 sf lot with large parking lot & courtyard. R-3 zoning & building layout on the lot allows nice potential to add units. Rents range from $1,095-$1200 (market). 6 CAP. Long-term, local owner. Value-add, though there have been many upgrades. Built in 1986 with all separate electrical metering (mid to newer HVAC units). One building with three units up/down. Separate laundry & storage in the back (not currently used). DSCR 5-8 unit loan product with 30 yr am could be a good fit. Seller intends to 1031, no seller financing. Competitive $246/sf.