3333 W 8TH Street, Thatcher, AZ 85552
$4,582,890
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$4,582,890
Last Modified:
12/18/2024
Description
8th Street Apartments & Fitness Club. Historic 10+% CAP Rate. 11 buildings, 5.17 acres. 93 income units: 88 residential,fitness club,3 office & laundry. Option (see documents) to purchase 75 Apts Laundry for $4.0 million (Divide residential & commercial). Fitness Club built 1981 & newer constructed Apts added since 2003 (average age 5 years). Additional 5,250sf expansion to Fitness Club + 3 commercial offices completed 2016.
Club open to public Includes:heated indoor pool, spa, sauna, racketball, gym etc. Steady cash flow & history 95% occupancy. Zoned C-M commercial, residential, retail. Additional $
growth opportunity: 1/2 acre shovel ready land for new construction of 10-12 2BR Apts (in place-power, water, sewer). On site managers will stay. Prospectus + financials to qualified Buyer
More Information MLS# 5525663
Contract Info
Current Price: $4,582,890
Sold Price: $4,582,890
Status: Closed
List Date: 2016-11-15
Ownership: Other (See Remarks)
Location Tax Legal
Map Code/Grid: C74
House Number: 3333
Compass: W
Street Name: 8TH
St Suffix: Street
City/Town Code: Thatcher
State/Province: AZ
Zip Code: 85552
Country: USA
County Code: Graham
Subdivision: 2 parcels totaling 5.17 acres
Assessor Number: 104-40-020
Tax Year: 2015
General Property Description
Lot Size Dimensions: 5.17 acres
Year Built: 1981
Uncvrd Parking Spcs: 100
Total # of Units: 93
# of Buildings: 11
Zoning: C-M
Remarks Misc
Cross Street: : Route 70 and Reay Lane in Thatcher, Arizona
Directions: Proceed south on Reay Lane, turn left (east) on West 8th Street to property. Located 160 miles East of Phoenix on Route 70 in Thatcher near Safford in high sonoran desert & Mount Graham, Graham County
Geo Lat: 32.831381
Geo Lon: -109.755757
Status Change Info
Status Change Date: 2017-11-10
Off Market Date: 2017-11-10
Under Contract Date: 2017-07-19
Close of Escrow Date: 2017-11-09
Sold Price: $4,582,890
Legal Info
Lot Number: 104-40-020 & 38
Income Expenses
Gross Annual Sch Inc: 818328
Net Operating Income: 509077
Efficiency Units
# Efficiency Units: 31
Avg Rent: 500
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 23
Avg Rent: 700
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 33
Avg Rent: 775
# Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 1100
# Baths: 1
Sold Info
Loan Type: Conventional
Loan Years: 15
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: 51 - 99 Units; Other (See Remarks)
Other Type: House + Rental Units; Packaged Offering; Other (See Remarks)
Construction: Block; Frame - Wood
Const - Finish: Painted; Stucco
Roofing: Other (See Remarks)
Floors: Other
Sale Includes: Building(s) Only; Land & Building; Pool Equipment; Laundry Equipment; Other (See Remarks)
Community Amenities: Heated Pool(s); Heated Spa(s); Sauna; Manager Res/Office; General Store; Community Showers; Clubhouse; Exercise Room; Play Area; Sport Court; Barbecue; Other; See Remarks
Exterior Amenities: Landscape Wtr System; Desert Landscaping; Partially Fenced; Cable TV Available; Patio/Balcony
Interior Amenities: Unfurnished; Partially Furnished; Fire/Smoke Alarm(s)
Appliances Included: BI Oven/Range; Refrigerator
Heating: Central
Cooling: Electric
Water: Other; See Remarks
Sewer: Sewer - Public
Electric: Other (See Remarks)
Gas: None
Parking: Carport; <1 Space Per Unit; Add'l Parking Avail; Assigned; Paved Parking
Owner Pays: Water
Tenant Pays: Other (See Remarks)
Source of Fincl Data: Provided by Owner; Projected Proforma; Books Shwn Accpt Ofr; Other (See Remarks)
Existing 1st Loan: Conventional
Existing 1st Ln Type: Fixed
Existing 1st Ln Trms: Assume - Qualify; No Prepay Penalty; Not Applicable
Existing 2nd Loan: Other (See Remarks)
Existing 2nd Ln Type: Fixed
Existing 2nd Ln Trms: Non Assumable
Existing 3rd Loan: Other (See Remarks)
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Non Assumable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional; Other (See Remarks)
Environmental: None
Property Flyer ›Listing Office: HomeSmart
Last Updated: December - 18 - 2024
Broker Attribution:
480-242-6500
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