875 Gail Gardner Way, Prescott, AZ 86305

$850,000

Property Type: Multi-Family Square Footage: 3,460 Lot Size (sq. ft.): 7,405 Status: Closed

Current Price: $850,000 List Date: 9/09/2021 Last Modified: 9/28/2021

Overview

Description

The 4 flex has great income potential with 2 beds, 1 bath units in a very desirable neighborhood close to the hospital, colleges and shopping. The 2 downstairs units as handicap accessible. All units has a private patio and a separate storage unit on the property and a coin op laundry room. At least 5 off-street parking spots. Some spots can park in tandem. Recent updates by the owner include - 3 HVAC systems (Apollo heating systems), 4 water heaters, 1 coin washer, 2 dishwashers, 2 refrigerators, all new flooring (1 with tile and the others with luxury vinyl), ceiling fans, faux wood blinds in all units and two new kitchen/bathroom countertops. 2 tenants are month to month at $885 and $895 while 2 new leases last month are for $1,200 per unit.

Supplements: Gross income is currently $50,160, but if the two units are raised, the potential gross income could be $57,600. Cap rate is based on Pro Forma

Listing Details MLS# 1041946

ContractAddressLegal

Original List Price: 800000
Listing Price: 800000
Street #: 875
Street Name: Gail Gardner
St Suffix: Way
City/Township: Prescott
State: AZ
Zip Code: 86305
County: Yavapai
Tax Parcel: 115-08-038F

General Property Description

Aprx Acres: 0.17
Total Liveable SqFt: 3460
Source of Measuremnt: County Assessor
Stories: 2
Year Built: 1995
Management: Owner
HOA Y/N: No
Baths - Full: 4
Lot #: No

Tax Info

Taxes: 1782
Tax Year: 2020

Status Change Info

Under Contract Date: 2021-09-28
Sold Date: 2021-09-28
Sold Price/SqFt: 246
Financing: Cash

Unit 1

Unit ID: A
# BR: 2
# BA: Yes
SqFt: 865
Rent $: 885

Unit 2

Unit ID: B
# BR: 2
# BA: Yes
SqFt: 865
Rent $: 1200

More Information

Unit 3

Unit ID: C
# BR: 2
# BA: Yes
SqFt: 865
Rent $: 895

Unit 4

Unit ID: D
# BR: 2
# BA: Yes
SqFt: 865
Rent $: 1200

Contract/Address/Legal

List Price/SqFt: 231
Rent/Lease: No
REO/Short Sale: Not Applicable
Zoning: MF-M
Assessor's Book #: 115
Assessor's Map #: 8
Assessor's Parcel #: 38
Assessor Parcel Ltr: F
Legal: A RECT PCL LYNG IN THE SE4 SEC 29 WITH THE SE COR LYNG APPROX 115 0' E & 950' N FROM THE S4 COR OF SEC 29-14-2W .17AC

Remarks & Misc

Directions: Iron Springs & Gail Gardner Way, South/left on Gail Gardner 4 plex will be on your left. Please do not disturb tenants.
Remarks: The 4 flex has great income potential with 2 beds, 1 bath units in a very desirable neighborhood close to the hospital, colleges and shopping. The 2 downstairs units as handicap accessible. All units has a private patio and a separate storage unit on the property and a coin op laundry room. At least 5 off-street parking spots. Some spots can park in tandem. Recent updates by the owner include - 3 HVAC systems (Apollo heating systems), 4 water heaters, 1 coin washer, 2 dishwashers, 2 refrigerators, all new flooring (1 with tile and the others with luxury vinyl), ceiling fans, faux wood blinds in all units and two new kitchen/bathroom countertops. 2 tenants are month to month at $885 and $895 while 2 new leases last month are for $1,200 per unit.

Office/Member Info

Listing Exclusions: No

Building Type

Fourplex: Yes

Construction

Frame - Wood: Yes
Stone: Yes

Cooling

Ceiling Fan(s): Yes
Central Refriger: Yes

External Amenities

Patio/Deck/Balcony: Yes

Flooring

Tile: Yes
Vinyl: Yes

Heating

Forced - Gas: Yes
Natural Gas: Yes

Owner Pays

Sewer: Yes
Water: Yes
Other - See Remarks: Yes

Possession

At Recordation: Yes

Records Available

None: Yes

Road Frontage Type

City Street: Yes

Road Surface Type

Paved: Yes

Roof

Asphalt Shingle: Yes

Terms & Conditions

1031 Exchange: Yes
Conventional: Yes
VA: Yes

Utilities Installed

220: Yes
Cable TV: Yes
Electricity: Yes
Individual Meter: Yes
Natural Gas: Yes
Telephone: Yes
Water - City: Yes
WWT - City Sewer: Yes

Water Heater

Natural Gas: Yes

Unit 1 Parking

1 Car: Yes
Off Street: Yes
Other - See Remarks: Yes

Unit 1 Info

Ceiling Fan(s): Yes
Dishwasher: Yes
Disposal: Yes
Fire/Smoke Detectors: Yes
Porch/Patio: Yes
Range/Oven: Yes
Refrigerator: Yes
Storage Room: Yes

Unit 2 Parking

2 Car: Yes
Off Street: Yes

Unit 2 Info

Ceiling Fan(s): Yes
Dishwasher: Yes
Disposal: Yes
Fire/Smoke Detectors: Yes
Porch/Patio: Yes
Range/Oven: Yes
Refrigerator: Yes
Storage Room: Yes

Unit 3 Parking

1 Car: Yes
Off Street: Yes
Other - See Remarks: Yes

Unit 3 Info

Ceiling Fan(s): Yes
Dishwasher: Yes
Disposal: Yes
Fire/Smoke Detectors: Yes
Porch/Patio: Yes
Range/Oven: Yes
Refrigerator: Yes
Storage Room: Yes

Unit 4 Parking

1 Car: Yes
Off Street: Yes
Other - See Remarks: Yes

Unit 4 Info

Ceiling Fan(s): Yes
Dishwasher: Yes
Disposal: Yes
Fire/Smoke Detectors: Yes
Porch/Patio: Yes
Range/Oven: Yes
Refrigerator: Yes
Storage Room: Yes

Property Features

Building Type: Fourplex Construction: Frame - Wood; Stone Cooling: Ceiling Fan(s); Central Refriger External Amenities: Patio/Deck/Balcony Flooring: Tile; Vinyl Heating: Forced - Gas; Natural Gas Owner Pays: Water; Other - See Remarks Possession: At Recordation Records Available: None Road Frontage Type: City Street Road Surface Type: Paved Roof: Asphalt Shingle Utilities Installed: 220; Cable TV; Electricity; Individual Meter; Natural Gas; Telephone; Water - City; WWT - City Sewer Water Heater: Natural Gas Unit 1 Parking: 1 Car; Off Street; Other - See Remarks Unit 1 Info: Ceiling Fan(s); Dishwasher; Disposal; Fire/Smoke Detectors; Porch/Patio; Range/Oven; Refrigerator; Storage Room Unit 2 Parking: 2 Car; Off Street Unit 2 Info: Ceiling Fan(s); Dishwasher; Disposal; Fire/Smoke Detectors; Porch/Patio; Range/Oven; Refrigerator; Storage Room Unit 3 Parking: 1 Car; Off Street; Other - See Remarks Unit 3 Info: Ceiling Fan(s); Dishwasher; Disposal; Fire/Smoke Detectors; Porch/Patio; Range/Oven; Refrigerator; Storage Room Unit 4 Parking: 1 Car; Off Street; Other - See Remarks Unit 4 Info: Ceiling Fan(s); Dishwasher; Disposal; Fire/Smoke Detectors; Porch/Patio; Range/Oven; Refrigerator; Storage Room

Listing Office: Better Homes And Gardens Real Estate Bloomtree Realty

Last Updated: September - 28 - 2021

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