860 W Road 1 South, Chino Valley, AZ 86323 (MLS# 6861797)

Description

Whispering Winds is a multi-family mixed use property in the middle of town. It has excellent property management and is 100% occupied. The property consists of 2 commercial buildings w/ 3 office spaces each. Attached to the backside of the office spaces are 9 storage units with internal doors and also exterior rollup doors, and finished with sheetrock and lighting. Gated residential area has 6 duplexes w/ attached one car garages, back patios and fence yards; 3 triplexes, 1 br/1 bath, w/ storage rm, back patios and fenced yards. All built in 2004 w/ new roofs in 2018. There are also, 3 fourplexes, each built in 2018 w/ upgraded interiors. Lg common laundry rm for complex. Each unit is separately metered for water & gas. Property has its own private water company and is on town sewer.

Supplements: Current actual cap rate of 5.98% and easily be increased to 6.34% by increasing below rent leases expiring 2/28/26 to market rents. Seller Carryback possible with 50% down payment.

Contract Info

Ownership: Fee Simple Current Price: $6,995,000 List Price: $6,995,000 Status: Active List Date: 2025-05-01

Location, Tax & Legal

Assessor's Map #: 29 Legal Description (Abbrev): A RECT PCL LYNG IN THE SW4NW4 SEC 27 WITH THE SW COR LYNG APPROX 340' E & 25' N OF THE W4 COR SEC 27 Assessor's Parcel #: 26 Assessor Parcel Ltr: X Add'l Parcels: No Tax Municipality: Chino Valley Census Tract: 203 Taxes: 38319 Legal: A RECT PCL LYNG IN THE SW4NW4 SEC 27 WITH THE SW COR LYNG APPROX 340' E & 25' N OF THE W4 COR SEC 27 House Number: 860 Compass: W Street Name: Road 1 South St Suffix: -- City/Town Code: Chino Valley State/Province: AZ Zip Code: 86323 Zip4: 6380 County Code: Yavapai Assessor Number: 306-29-026-X Tax Year: 2025

General Property Description

Type of Property: Multi-Family Mixed Use Ttl Apx SqFt Bldg: 36367 # of Buildings: 14 Uncvrd Parking Spcs: 52 Year Built: 2004 Zoning: CL

Currently Not Used

Sold Price Per SqFt: 192.34

Legal Info

Range: 2W Section: 27 Township: 16 Lot Number: 30629026X

Construction

Stucco: 1 Wood Frame: 1

Roofing

Composition: 1

Floors

Vinyl: 1 Carpet: 1 Other: 1

Income & Expenses

Annual Elec Exp: 2898 Annual Gas Exp: 384 Annual Ins Exp: 19156 Annual Land Lse Exp: 0 Annual Landscape Exp: 9085 Annual Legal & Acctg: 3888 Annual Maint Exp: 9373 Annual Mgmt Exp: 36000 Annual Trash Exp: 3036 Annual Wtr/Swr Exp: 16738 Owner Association: No Annual Ownr Asoc Fee: 0 Annual PAD Fee: 0 Annual Other Expense: 2905 Operating Exp: 141782 Other Income: 0 Vacancy Allowance: 0.03 Adjusted Gross Inc: 559884

Building Type

Other (See Remarks): 1

Business Type

Mixed: 1

Stories

1 Story: 1

Pmt & Rate Info

Cap Rate: 5.98 Equity: 6995000 Total Owed: 0

Showing Notification Methods

Showing Service: No Showing Service Used

Lockbox Type

None: 1

Ceiling Height

8 Feet or Less: 1 8.1 Feet to 10 Feet: 1

Heating

Natural Gas: 1

Cooling

Central Air: 1

Interior Features

Finished: 1 Smoke Detector(s): 1

Loading Facilities

None: 1

Exterior

Landscaping: 1 Monument Sign: 1 Security Light(s): 1

Source of Fincl Data

Owner: 1

Fencing

Wood: 1 Other: 1

Water Source

Private: 1 Domestic Well: 1 Master Meter: 1

Freeway/Highway

Other (See Remarks): 1

Building Features

Security Gate: 1 Other (See Remarks): 1

Sewer

Sewer - Public: 1

Parking Features

Free: 1 Parking Lot: 1 Paved: 1

Electric

APS: 1 Individual Meter: 1

Gas

SW Gas: 1 Individual Meter: 1

New Financing

Cash Only: 1 Cash to Loan: 1 Owner May Carry: 1 1031 Exchange: 1

Reports/Disclosures

Seller Prop Disc Stm: 1 Water Well Report: 1

Environmental

None: 1

Remarks Misc

Directions: From south end of Chino Valley, take State Route 89 heading N, turn west (L) at Road 1 South. Approx 0.5 mile, property is on the right. Name of complex is Whispering Winds. Geo Lat: 34.738351 Geo Lon: -112.4637

Income Expenses

Gross Annual Sch Inc: 577200 Net Operating Income: 418102

Property Features

Building Type: Other (See Remarks) Business Type: Mixed Stories: 1 Story Construction: Stucco; Wood Frame Roofing: Composition Floors: Vinyl; Carpet; Other Ceiling Height: 8 Feet or Less; 8.1 Feet to 10 Feet Heating: Natural Gas Cooling: Central Air Loading Facilities: None Interior Features: Finished; Smoke Detector(s) Exterior: Landscaping; Monument Sign; Security Light(s) Fencing: Wood; Other Building Features: Security Gate; Other (See Remarks) Parking Features: Free; Parking Lot; Paved Electric: APS; Individual Meter Gas: SW Gas; Individual Meter Water Source: Private; Domestic Well; Master Meter Sewer: Sewer - Public New Financing: Cash Only; Cash to Loan; Owner May Carry; 1031 Exchange Lockbox Type: None Source of Fincl Data: Owner Environmental: None