2216 N 16th St., Phoenix, AZ 85006

7.4% Cap on actual rents. C-2 zoning, 16th St Arts District, always occupied with a waiting list! Perfect for downtown-loving tenants, there’s an art house and coffee shop right next door. Tenants walk to national award-winning Barrio Café and Coronado’s entertainment venues. In between Banner Health and the newly expanding Phoenix Children’s Hospital. The building has new roofs, newer AC’s, copper plumbing, recoated parking lot, and most units have been renovated. Low maintenance colored concrete flooring throughout. All utilities are master metered, but the units are so efficient that complete utilities average only $90/unit/month! 2015 taxes were just $1,536! Just bring older leases up to the latest achieved rents and push the proforma cap rate to 8%!