Two investors analyze a 15-unit apartment building in Glendale, Arizona priced at $2.35 million, or $156,000 per unit. Built in 1965, it claims a 2024 renovation that seems questionable. With units averaging 672 sq ft, rents likely run under $1,000 a month.
What is the other one you got? Like, let's see what that one's— this one was in Glendale, Arizona.
It was a 15-unit multifamily apartment. So looked at quite a few, but it currently has tenants.
They want $156,000 per unit. So does it currently have a rent roll and tenants in it?
Yes, it does. Let me look back at it. Let me see. It should say in deal hunter. I'm trying to remember off the top of my head. So this is— I told it to—
oh, this is your deal. Okay.
Go ahead. 15-unit, they're asking for $2,350 for it. Right. Opportunity Zone.
It says it was renovated in 2024, which I call BS on. It was built in 1965. So do the math on that. That'll tell you a lot. The average unit size is about 672 square feet, which means they're getting less than $1,000 a month, probably less than $1,000.
