2222 E Garfield Street, Phoenix, AZ 85006

Property Description

**Investment Opportunity: Prime Real Estate with High Potential** *Hands-Off Investment on a Triple Net Lease*Introducing an exceptional investment opportunity in the heart of the Roosevelt Historical District, offering a fully renovated, hands-off investment property with an established tenant under a pure triple net lease (NNN). This 4-unit property, meticulously upgraded, is leased to a single tenant who covers 100% of all expenses, making this a hassle-free investment that promises consistent cash flow. With a cap rate of over 7.5%, this property offers an attractive income-generating opportunity. The Property will be occupied on 11/1/2024 with a three year lease and rental bumps year two and three. Buyer should read the additional information here. Buyer to verify all facts **Investment Opportunity: Prime Real Estate with High Potential** *Hands-Off Investment on a Triple Net Lease* Introducing an exceptional investment opportunity in the heart of the Roosevelt Historical District, offering a fully renovated, hands-off investment property with an established tenant under a pure triple net lease (NNN). This 4-unit property, meticulously upgraded, is leased to a single tenant who covers 100% of all expenses, making this a hassle-free investment that promises consistent cash flow. With a cap rate of over 7.5%, this property offers an attractive income-generating opportunity. The Property will be occupied on 11/1/2024 with a three year lease and rental bumps year two and three. **Property Overview:** - **Unit Mix**: - 1 x 3 Bedroom, 2 Bath - 2 x 2 Bedroom, 1 Bath - 1 x 1 Bedroom, 1 Bath - **Complete Renovation**: The property has undergone a full gut and remodel, presenting a contemporary and attractive living space for tenants. - **Key Upgrades**: - All-new plumbing, electric systems, and reinforced roof joists - New air conditioning units, flooring, and exterior stucco - Modern dual pane windows and new exterior doors for security and energy efficiency - Fresh concrete walkways and parking spaces, ensuring convenience for tenants - New ceiling fans in living rooms and all bedrooms for comfort - New landscaping to enhance curb appeal - Stylish new cabinets, bathrooms, stainless steel appliances, and quartz countertops **Investment Highlights:** 1. **Turnkey Investment**: With renovations completed and permits finalized, the property is ready to generate immediate rental income. 2. **Versatile Unit Mix**: A diverse selection of unit sizes to accommodate families, professionals, and individuals, enhancing occupancy rates. 3. **High-Quality Renovation**: Every detail of the renovation was completed with precision, offering durability and ensuring tenant satisfaction. 4. **Modern Amenities**: Tenants will enjoy the convenience of modern appliances, attractive finishes, and energy-efficient features. 5. **High Cap Rate**: With a cap rate of over 7.5%, this property provides a strong income stream and attractive investment potential. **Investment Strategy:** - **Immediate Income**: Rental income begins upon acquisition. - **Long-Term Growth**: Located in a thriving area, this property is positioned for future appreciation. - **Hassle-Free Management**: The NNN lease structure means the tenant handles all expenses, including maintenance, taxes, and insurance, while you enjoy passive income. Don't miss this opportunity to invest in a hands-off, income-generating property that's ready to deliver returns from day one.