Phoenix Arizona Apartment Complexes
I am in Phoenix and want to know if anyone here has had any success finding apartment or shopping center deals that make sense financially for a financed buyer (Cash flowing) 50-200 units?
I have been looking for 8 months in Maricopa county and have found no deals yet.
I looked at one that was in Scottsdale and was interesting as there was room for expansion.
I have been look at a strip mall in Prescot that looks good, but has too rich a a cap rate for me.
What was the cap rate, below 8% I am assuming.
I am finding great deals in OH and MO and TX of course, but I dont like the idea of long distance CRE holdings.
it was n the 8% as a rental and had the upside some a conversion (in a hotter market) and expansion.