416 West 12th Street is of block construction, built in 1983, and has a fantastic unit mix which features (6) 2-bedroom / 1-bathroom units along with (2) 3-bedroom / 1-bathroom units. This garden-style apartment community has recently undergone significant interior renovations which include vinyl-plank flooring throughout, all-new kitchen appliances, kitchen cabinets, in-suite washers & dryers, as well as updated bathrooms. This opportunity offers in-place cash flow right off the bat, performing at a ~5.25 CAP (proforma ~6.72% CAP year 2) on trailing 6 months financials with an ease of management with the property being completely renovated. The property is near the Casa Grande Mountains, which offer multiple hiking trails.
Listing courtesy of ABI Multifamily.
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