1232 Hayden RdScottsdale, AZ 85257

This exceptional 11-unit apartment building in Scottsdale, Arizona presents a compelling value-add investment opportunity. Located at 1232 Hayden Rd, 85257, this property boasts a prime location in Maricopa County. The complex comprises five single-story buildings totaling approximately 5,709 net rentable square feet on a 20,000 square foot lot. Built in 1963 and extensively renovated in 2022, the property features 11 one-bedroom, one-bathroom units, each averaging approximately 519 square feet. Recent upgrades exceeding $40,000 include sheathing and roofing, exterior paint, patio supports, exterior storage doors, and stucco, fascia, and gable repairs. The property includes 16 parking spaces and is zoned for multifamily use. Currently generating a Net Operating Income (NOI) of $177,198, resulting in a 4.96% cap rate, the property is offered at $3,575,000, or $325,000 per unit. Current rents range from $1300 to $1550, significantly below market value, presenting a clear path to increase profitability. The provided financial information is based on a pro forma and assumes self-management. All information should be independently verified. This is a fee-simple ownership opportunity. The property's APN is 131-11-240. Don't miss this chance to acquire a well-located, value-add multifamily asset with significant upside potential.