2008 12Th AveSafford, AZ 85546

Property Details for 2008 12Th Ave

Property size (Sq ft)

3,200 SF

Property type

Apartment buildings

Description

This exceptional 4-unit apartment building, known as Safford Arms, presents a compelling investment opportunity in Safford, Arizona. Located at 2008 S 12th Ave, 85546, this stabilized Class B property boasts 3,200 square feet and offers a strong 6.43% cap rate with a Net Operating Income (NOI) of $46,000. The asking price is $715,000, translating to $223.44 per square foot and $178,750 per unit. Completely renovated in 2020, the property features updated kitchens and bathrooms with new cabinets, flooring, and appliances. New windows and some HVAC systems were also replaced. The building includes an on-site coin-operated laundry generating approximately $1,000 in annual revenue. The property benefits from a strong local workforce and enjoys 100% occupancy for the past two years, with tenants consistently renewing leases and accepting annual rent increases. The single-story building is easily managed, with tenants utilizing electronic payment methods. Established vendors are in place for maintenance and repairs. This property is ideally suited for a 1031 exchange, given the seller's successful experience with this very property last year. The potential for future expansion exists, with the possibility of adding a second story or converting the building into condominiums. This is a turnkey investment ready for immediate income generation.

Location Insight

City

Safford

County

Graham

State

Arizona

Latitude

32.8162

Longitude

-109.722

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