1347 E Benson Hwy, Tucson, AZ 85714

13 unit apartment complex

Wholesale Price: $250,000
Estimated Rehab: $10,000 per unit
Gross Rental Income: $83,700

  • 2 studio @ $450/mo each = $900/mo
  • 7 1 bedroom @ $525/mo each = 3675/mo
  • 4 2 bedroom @ $600/mo each = $2400/mo

Needs some work but will easily bring in a great return year after year. 5 units currently rented leaving 8 which need to be rehabbed prior to anyone living occupying them. Excellent access to the 10 freeway and less than 10 minute drive to UofA. Local area going through upgrades with a big shopping plaza (restaurants, starbucks, shopping etc) being developed on the other side of the freeway (3 minute drive from the property). Currently has a property manager/handyman living on site.

Taxes - $3300/yr

$83,700 X 90% (occupancy) = $75,330

$75,330 - $3300 (taxes) = $72,030

$72,030 X .98 (2% annual maintenance - which should be nothing for the first few years at least, if the rehab is done right!) = $70,590

**Variable costs such as Insurance and Cost of Funds are not able to be factored in to these numbers.

$70,590/$380,000 = 18.57% NET CAP RATE!

$83,700/$380,000 = 22.02% GROSS CAP RATE!

3202 E. Ruth Ave, Phoenix, AZ 85051 USA

Wholesale Price: $ 153,000

Estimated Rehab: $20,000

After Repair Value: $215,000

Estimated Flipped Margin: $42,000

Bedrooms: 5
Bathrooms: 2
Square: 2300


This is a great property for ANY investor!

Tax records has it as 1,824sf, however the owners enclosed the path which is accessible from the formal living room and the kitchen area. It was done well and is air conditioned. So this adds about 150-200sf to that 1,824sf.

Then they have an upstairs area - This is the area in the pictures with the green carpet. It has a bedroom and a little sitting area room. It also has water running to that area but they have it capped off right now. This area adds another 200-300sf to the livable. It too has air conditioning.

The roof and HVAC were fully replaced in 2011.  
Cabinets are in great shape, just need painted.
No structural issues at all, the bones are really good. Just needs the cosmetic remodel.