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120 S Tonto St
Payson, AZ 85541

$10,863,000 USD

Apartments For Sale  •  47,851 SF

Property Details

  • Property Type Apartments
  • Total Building Size 47,851 SF
  • Lot Size 3.35 AC
  • Building Class C
  • Year Built 1995
  • Cap Rate 5.68 %
  • Zoning R3
0 Transit Score
62 Walk Score

Highlights

17 of the 45 units are fully renovated with in-suite washer and dryers
Individually metered for electricity
One half mile from the Payson Village Shopping Mall anchored by Bashas' & Safeway and includes Starbucks, Taco Bell, Wells Fargo, Auto Zone, T-Mobile
Adjacent to Payson High School
Renovated units include new stainless-steel appliances, wood plank vinyl flooring, custom kitchen and bathroom cabinetry, ceiling fans, in-suite W&D
Renovated units lease at a premium of $250 for the one bedrooms and $430 for the two bedrooms over the classic units providing significant rent upside

Financial Summary (Actual)

Net Operating Income: $605,862 USD (2023)
Cap Rate: 5.68 %
Total Expenses: $228,311 USD

Amenities

  • Air Conditioning
  • Balcony
  • Cable Ready
  • Dishwasher
  • Disposal
  • Fireplace
  • Laundry Facilities
  • Microwave
  • Washer/Dryer Hookup
  • Ceiling Fans
  • Granite Countertops
  • Vaulted Ceiling
  • High Speed Internet Access
  • Refrigerator
  • Oven
  • Stainless Steel Appliances
  • Range
  • Dining Room
  • Family Room
  • Linen Closet
  • Pantry
  • Patio
  • Wheelchair Accessible (Rooms)

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 17
Type: Surface
Included in Rent: Yes
Brian Tranetzki 602-435-3636 CBRE
Brian Tranetzki 602-435-3636 CBRE