1802 Vogel AvePhoenix, AZ 85021

This exceptional 8-unit apartment building in Phoenix, Arizona presents a compelling investment opportunity. Located at 1802 W Vogel Ave, 85021, this fee-simple property boasts a strong 8.12% capitalization rate and a substantial net operating income (NOI) of $142,082. The property comprises two 1-story buildings constructed in 1962, situated on a spacious 21,000 square foot lot. The property features 16 parking spaces and is zoned for multifamily use. The building includes shared laundry facilities equipped with new washers and dryers, convenient for all tenants. Individual unit power costs are handled through RUBS (Renters Utility Billing System). Gas is provided on-site, and six shared water heaters serve the property. Units 1-4 share a common green space, while each unit also offers a private patio or yard. On-site storage is available for maintenance supplies. Importantly, five units are currently occupied by Section 8 tenants, providing a guaranteed rental income stream. One unit is nearing completion, and the remaining three units are slated for Section 8 tenants as well, further securing the investment's cash flow. This property offers a blend of stable income and significant upside potential in a desirable Phoenix location. The APN is 158-21-082. Asking price is $1,350,000.