15 Unit Near ASU Campus

Tempe, AZ 85281
(14) 1 bdrm/ 1 bath + (1) 5 bdrm/ 2 bath w/pool
Property photo 0.
General Information
Square Feet9,800
Initial Market Value$3,500,000
Purchase Price$3,500,000
Downpayment$3,500,000
Loan Origination Fees$0
Depreciable Closing Costs$105,000
Other Closing Costs and Fixup$0
Initial Cash Invested$3,605,000
Cost per Square Foot$357
Monthly Rent per Square Foot$2.31
IncomeMonthlyAnnual
Gross Rent$22,681$272,172
Vacancy Losses($1,814)($21,774)
Operating Income$20,867$250,398
ExpensesMonthlyAnnual
Property Taxes($292)($3,500)
Insurance($525)($6,300)
Management Fees($1,669)($20,032)
Leasing/Advertising Fees$0$0
Association Fees$0$0
Maintenance($1,134)($13,609)
Other$0$0
Operating Expenses($3,620)($43,440)
Net PerformanceMonthlyAnnual
Net Operating Income$17,246$206,958
- Mortgage Payments$0$0
= Cash Flow$17,246$206,958
+ Principal Reduction$0$0
+ First-Year Appreciation$17,500$210,000
= Gross Equity Income$34,746$416,958
+ Tax Savings$0$0
= GEI w/Tax Savings$34,746$416,958
Mortgage InfoFirstSecond
Loan-to-Value Ratio0%0%
Loan Amount$0$0
Monthly Payment$0.00$0.00
Loan TypeAmortizing Fixed
Term30 Years
Interest Rate0.000%0.000%
Monthly PMI$0
Financial Indicators
Debt Coverage RatioN/A
Annual Gross Rent Multiplier13
Monthly Gross Rent Multiplier154
Capitalization Rate5.9%
Cash on Cash Return6%
Total Return on Investment12%
+ Tax Benefits: Deductions, Depreciation, 1031 Exchange, etc.
Assumptions
Real Estate Appreciation Rate6%
Vacancy Rate8%
Management Fee8%
Maintenance Percentage5%
Comments
Opportunity Zone. Lots: 32,500 sf (up to 40,000 sf). Value-add.

Tenants pay electric and gas. Owner pays water and sewer.

Currently all units occupied. Leases expire July 2025.

*Information is not guaranteed and investors should do their own research, get professional advice and conduct due diligence prior to investing.