2047 Keim Dr Phoenix, AZ 85015-1527

Property Details for 2047 Keim Dr

Year built

1951

Construction

CONCRETE BLOCKS

Lot size

0.20 lot acres

Property size

3,466 SF

Zone code

R1-6

Property type

Assisted living facilities

Property subtype

Retirement homes

APN

156-13-060

APU

15613060

Description

This exceptional investment opportunity presents a stabilized, 20-unit multifamily portfolio in Phoenix, Arizona. The property, comprised of two single-story buildings totaling 3,467 square feet on an 8,795 square foot lot, boasts a strong current NOI of $230,525 and a compelling 13.17% cap rate. Built in 1951 and extensively renovated in 2017 and 2018, the property features updated kitchens with stainless steel appliances and white cabinets, modern bathrooms, vinyl wood plank flooring, and beautifully landscaped common areas. Each unit includes oversized closets, ceiling fans, and handicap-accessible bathrooms in select units. The property is zoned R1-6, Single Family, and is currently licensed as a residential behavioral health facility, benefiting from high demand for such services. Its central Phoenix location provides easy access to public transportation, shopping, educational opportunities, healthcare, and major transportation routes. The property's current 90% occupancy offers significant upside potential for increased profitability as occupancy approaches 100%. The pro-forma NOI is projected at $785,000, and the pro-forma cap rate is 44.86%. This is a rare opportunity to acquire a cash-flowing asset with substantial growth potential in a desirable market. The asking price is $1,750,000, or $87,500 per unit, and the property is offered with a broker co-op. The APN is 156-13-060.