2122-2124 W Augusta | Renovated 7 Units

2122-2124 W Augusta Avenue | Phoenix, Arizona | $1,800,000

Seven renovated residences on two adjacent fee-simple parcels: a fourplex at 2122 W Augusta and a triplex at 2124 W Augusta. Six one-bedroom units and one studio are reported fully occupied. Combined asking price $1,800,000; individual offerings are $1,000,000 for 2122 and $800,000 for 2124.

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 $9,741 monthly or $116,892 annually. The controlling combined OM applies 3% economic vacancy and includes ancillary income. Current modeled NOI is $97,936 and the cap rate is 5.44%. Annual operating expenses are estimated at $28,254.

Illustrative pro forma assumes six one-bedroom units at $1,700 and the studio at $1,100 monthly, for $11,300 total monthly scheduled rent. With the same vacancy and expense assumptions, projected NOI is $116,093 and the cap rate is 6.45%. Figures follow the rounded combined OM. Projections are not current results or guarantees; debt service and capital costs are excluded.

APNs 157-21-016-C and 157-21-016-D. The combined OM reports 3,855 SF of building area, 17,460 SF of land and 10 parking spaces; these differ from the sum of the individual OM measurements and require independent verification. Reported construction dates 1947-1985; renovations 2022-2023.

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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.