Sedona, AZ 86351

A fantastic investment opportunity to purchase a well-maintained 10-unit complex in The Village of Oak Creek. Conveniently located right near 179 with quick access to all the amenities of The Village, walking distance to world-class hiking, & only a 10 minute drive to I-17.

Complex is currently at full occupancy & no lag time when a unit becomes available. 6 units are currently month-to-month tenants with the other 4 units on leases ending at various dates in 2021.

This complex was ''condo-ized'' with each unit having its own parcel number & taxation (listing tax info based on common area parcel only). Complex has its own CC&Rs which can be provided.

Solid numbers for income/expenses w/a number of substantial improvements done in 2020.

SEE SUPPLEMENTAL for more: ------------------------------------------

The most recent capital improvements include the repainting of all exterior doors & balconies + common area stairwell/stairs (Jan 2021)

The building exterior and all units have been well-maintained and upgraded, as needed, including necessary appliances, new flooring, etc. Each unit has continuity with the design style in the kitchens, bathrooms & flooring. Each unit has a rear double French door leading out to private outdoor space for each tenant (balconies for upper units, patios for lower units - each with privacy walls between units).

Units are on their own electrical meters. Every unit has a laundry closet with their own washer & dryer, plus a utility closet with a water heater & HVAC system.

4 of the units are 1 bedroom + den which is a separate room space + 1 bathroom.

3 of the units are 1 bedroom & 1 bathroom with oversized living room space where a 2nd bedroom can be add.

1 of the units (and smallest square footage) has already been converted into 2 bedroom & 1 bathroom.

All units have the ability to be turned into 2-bedrooms.

Kitchens are galley-style with granite counters, quality cabinetry & stainless steel appliances including built-in microwaves.

There are two (upper & lower) "storage" rooms at 365 sq feet each that could potentially be utilized as additional living space & there are indications that at some point in the history of the complex, they may have been studio apartment (buyer do due diligence).

Tenants pay only for electric with owner paying for trash, water & sewer. There is no assigned parking but complex has a large parking lot which generally has ample parking for tenants and guest.

Management currently allows 1 dog per unit with a rigorous process in place for screening the pets before acceptance of the animal.

The property has been managed by Sedona Elite for many years and we can provide rental history, income/expense reports, maintenance history etc. Seller opts to use Chelsea Little at Stewart Title for closing.

All units are renting under market price due to long term tenancies so there is plenty of room to increase income stream with adjustments to rents in the future. This is truly a great investment opportunity for a property & one of the least expensive listings (based on square footage price) in Sedona - well run complex with good business practices and thorough upkeep.