For Sale
$10,863,000
120 Tonto StPayson, AZ 85541
45-unit apartment complex, value-add opportunity
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 123
Highlights
- 45-unit apartment community totaling 47,581 square feet in Payson, Arizona.
- Desirable location adjacent to Payson High School, near Highway 87 and Payson Village Shopping Mall.
- Mix of one- and two-bedroom units (850-1,180 sq ft), 17 units fully renovated with new kitchens, bathrooms, flooring, and in-suite laundry.
- Significant value-add opportunity with projected rental increases of $250 (one-bedroom) and $430 (two-bedroom) upon renovation of remaining units.
- 2.07-acre lot, 12 two-story buildings, individually metered for electricity and hot water; 95% occupancy, $617,161 NOI, $720,566 pro-forma NOI, 5.68% cap rate, 6.63% pro-forma cap rate. Asking price: $10,863,000 ($241,400 per unit).
Property Details for 120 Tonto St
- Property type
- Apartment buildings
- Square Feet
- 47,581 SF
- Class
- B
- Year Built/Renovated
- 1995/2023
- Buildings
- 12
- Stories
- 2
- Lot Size (sq. ft)
- 90,169 SF
- Units
- 45
Location Insight
- City
- Payson
- County
- Gila
- State
- Arizona
- Latitude
- 34.239796
- Longitude
- -111.327563
120 Tonto St, Payson, Arizona
Nearby Similar for Sale
FAQs
- What type of property is this?
- Apartment building - 45-unit apartment complex, value-add opportunity
- Where is the apartment building located?
- The property is located at 120 Tonto St Payson, AZ.
- What is the asking price?
- The asking price for this property is $10,863,000.
- What are key features of this property?
- This property features: 45-unit apartment community totaling 47,581 square feet in Payson, Arizona.; Desirable location adjacent to Payson High School, near Highway 87 and Payson Village Shopping Mall.; Mix of one- and two-bedroom units (850-1,180 sq ft), 17 units fully renovated with new kitchens, bathrooms, flooring, and in-suite laundry.
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