Grandview Terrace is a 36-unit apartment community located in North Phoenix. Located on East Grandview Road, west of the SR-51 Freeway, and east of Cave Creek Road, near Lookout Mountain, Paradise Valley Community College, Costco, Arizona Christian University, shopping, schools, and plenty of transportation options. Property is being sold ''As-Is.'' For the investor: This property offers the rare opportunity to acquire 80s vintage apartments (fully rehabbed in 2012). Projected gross potential rent of $234,000, less 12% vacancy of $28,080 per year, added income of $2,200, equals $208,120 adjusted gross income. After expenses of $101,176, the pro forma net operating income is $106,944. This is a 8.23% CAP RATE!
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