Description




PRICE REDUCED

REDUCED Purchase Price: $114,999

Property Address: 2825 W Garfield St Phoenix, AZ, 85009

Major Cross Streets : 27TH AVE & ROOSEVELT RD


PICTURES CLICK HERE

DESCRIPTION:

Property Type:Single Family Residential
3 Bedroom / 2 Bath w/ Attached 2 Bed/1Bath Unit 
APN : 109-20-140
Year Built : 1926 
Taxes: Total $497 (2016)
3/2 Bedroom Living Area 1,248 Sq Ft
Lot Sq/ft/Acres: 6,917 Sq Ft/ 0.16 acres

TWO ATTACHED UNITS 
* Main House : 3BD / 1BA : Rent Potential : $825/ Month
* Attached Guest House : 2BD /1BA : Rented out Month 2 month at $700
* Zoning: [M-M] MULTI-FAMILY, MEDIUM DENSITY

UPSIDE:

 Off Market Property Exclusive to WIIN LLC
 Owner/Buyer can rent the 2 Bed Unit at $700 to cover most of their mortgage and live in the 3 bedroom home almost Rent Free!
 Central Area makes it easy to rent
 No Bidding Wars, Buy Direct
 Attached Unit can be perfect for Buyers looking for Guest House property *Minimum Repairs - Property needs minimal repairs to

REPAIRS NEEDED:

-Needs minor finishing touches as the owner has renovated most of the property
-Some rooms will need repainting, Exterior Finishing paint
-Kitchen needs to be updated
- Rooms need Door Frames

ROI: *

Purchase Price: $114,900
After-Repair Value: $140,000
Initial Acquisition Closing Costs 1.5% $2,100
Resale Realtor Commissions 6%: $8,400
Total Closing Costs: $10,500
Total Building/Repair Costs : $5,000
Total Investment ( Acquisition &Building Costs ): $119,900
Net Profit : $9,600
ROI - ( Fix & Flip ) 8.0%

2bd /1ba : $700 Rents/ Month X 12 Mo = $8,400 Gross Rents Per Year
3bd /1ba : $825 Rent/ Month X 12 Mo = $9,900 Gross Rents Per Year
Total for Rents For Both Units = $18,300 a year X -30% Expense Ratio =$ 12,810 Net / 120K (All In w/Repairs) = 10.7% CAP RATE

Monthly Rent : $1,525 
Expense Ratio: 30% 
Gross Yearly Rent: $18,300 
Net Yearly Rent: $12,810 
CAP Rate ( Buy & Hold) : 10.7%

 These are approximate figures, buyer to do his own due diligence, we are happy to answer any questions on our estimated returns.

COMPS SUPPORTING VALUE

ACTIVE 
ADDRESS/ LP COE
3212 W POLK ST/ 119K/ N/A
2726 W ROOSEVELT ST/ 139K/ N/A

SOLD 
MLS #/ ADDRESS/ SP/ COE
5540420/ 1039 N 30TH AVE/ 154K/ 02/21/2017
5485523/ 3015 W ROOSEVELT ST/ 120K/ 02/10/2017
5530368/ 2730 W POLK ST/ 130K/ 02/03/2017
5509134/ 1317 N 32ND AVE / 135K/ 11/30/2016
* 5471262/ 2446 W MADISON ST/ 155K/ 11/02/2016
*







LOAN PROGRAMS:

OWNER- OCCUPANT PROGRAM:

 12% Interest- 5 Year (APR 14.84%) Term
 12.50% Interest- 7 Year (APR 14.65%) Term
 13% Interest- 10 Year (APR 14.64%) Term
 13.50% Interest- 12 Year (APR 14.96%) Term
 Full Amortized
 Owner- occupants on single- family residences ONLY.
 Purchase + REFINANCE
 Down payment - 15-20% of purchase price. *$ 2,500 one-time fee (For purchase: fee can be rolled into loan.)
 Borrower's employment will be verified.
 Borrower will need to provide 2 months of pay stubs, 2 months of bank statements and last 2 tax return.







INVESTOR PROGRAMS

BUY & HOLD:

 3 Year Term
 $2,500 One-Time Fee
 14.00% Interest Only (APR 19.06%)
 Option to Extend Term of Loan
 Financing up to 80% of purchase price
 Extensions are available

FIX + FLIP:

 6 Month Term
 $1,000 initial Fee
 14% Interest Only (APR 16.13%)
 Option to Extend Term of Loan

This communication is provided to you for informational purposes only and should not be relied upon by you. WIIN Investments LLC is not a mortgage lender and so you should contact Premium Lending, LLC directly to learn more about its mortgage products and your eligibility for such products.





map


Near By:

 I-17 and I-10 freeway
 Down Town
 Havana Electrical and Plumbing
 Trudoor (Doors/Hardware
 Supermarkets: Food City, Smart and Final Extra
 Comerica Theatre







TERMS:

Open escrow with $5,000 earnest money in a form of a cashiers check made out to our title company. Once you have have had a chance to review the pictures in this email and have a had a chance to drive the areas and run all your numbers to confirm that this deal will work for you. At that time we will require you to provide the cashiers check upfront. We will give Buyer a 24hr inspection period before the earnest money deposit will become non refundable.

-Cash, Hard Money only.

-Property comes in "AS-IS" condition. Buyer pays all closing costs and escrow fees.







Elijah Rubin

WIIN Investments, LLC
elijah@wiinllc.com 
Mobile: (480)217-2336
Efax: (602)456-6545







Property Details

Property Status Expired
Price $114,900
Estimated Repairs $5,000
Estimated Equity $20,100
Square Footage 1,248 Sq Ft
Sq Footage Source
Estimated ARV $140,000
Estimated Equity $20,100
Bedrooms 5
Bathrooms 3
Year Built 1926
Publish Date April 24th, 2017

Seller Information

Jennifer Coronado

Member since April 2017


Do your research before making any investment!

Seller assumes all responsibility for the content of this listing.