2122 W Augusta | Renovated Fourplex

2122 W Augusta Avenue | Phoenix, Arizona | $1,000,000

Four fully renovated one-bedroom/one-bath residences, all reported occupied. Asking $1,000,000 for the 2122 fourplex only. The adjacent 2124 triplex is offered separately for $800,000; the combined seven-unit portfolio is offered for $1,800,000.

Quartz countertops, stainless-steel appliances, updated bathrooms and modern flooring, full-size washer/dryer in every residence, and reported roof, window, door, hot-water heater and exterior improvements. North Central Phoenix location with access to I-17, transit, retail and employment.

Current scheduled rent totals $5,851 monthly or $70,212 annually. The OM applies 3% economic vacancy to scheduled rent and includes ancillary income. Current modeled effective gross income is $75,422, estimated operating expenses $14,964, NOI $60,458 and cap rate 6.05%.

Illustrative pro forma assumes $1,700 per unit monthly: $6,800 monthly scheduled rent, modeled effective gross income $86,468, unchanged $14,964 expenses, NOI $71,504 and cap rate 7.15%. Current rents are owner-reported; expenses are estimates; pro forma is not a guarantee. Debt service and capital costs are excluded.

Reported building area 2,187 SF and land area 10,970 SF; built in 1985 and renovated in 2022. Seven concrete parking spaces and two storage rooms reported. APN 157-21-016-C. Buyer to verify areas and unit measurements.

View the property website and virtual tour | Schedule a Zoom or phone call with Linda

Linda Gerchick, CCIM | Gerchick Real Estate
602-688-9279 | [email protected]

Contact Linda for offering details. Signed Buyer Broker Agreement and NDA are required before release of confidential off-market materials.

Tenant leases are not publicly posted and will be provided only after the property is under contract to protect tenant privacy. Do not disturb residents or businesses; all visits require a confirmed appointment.

Information is believed reliable but is not guaranteed. Buyer must independently verify all financial, lease, physical, title, zoning and property information. Projections and financing illustrations are not guarantees. Offering is subject to errors, omissions, price or term changes, prior sale and withdrawal without notice.