Great investment OPP in the heart of The Old Pueblo! Palo Verde Apartments consist of 8 units close to The UofA & I-10. 5 of the 8 units have been fully remodeled, w/ new roof, updated plumbing, electrical, new interior & outdoor paint, and more. The renos equate to a $115-$215 increase/mo. in rent for updated units, significantly increasing the potential cash flow of the property. Once all renos have been complete, the property is projected to bring in nearly $55K in potential rental income. Once the property has stabilized under new management, assuming an investor would continue to self-manage, the operating expenses are projected to sit at around 38%, equating to a proforma NOI of ~$34,200. This would bring the proforma cap rate up to 7.86%. Possible Owner Carry. Full OM Available!
This property is not currently displayed as for sale or rent on Zillow. This may be different from what's on other websites or public sources.
