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15456 W Morning Glory Street, Goodyear, AZ 85338

$800,000
  • 15456 W Morning Glory Street, Goodyear, AZ 85338 Main Photo

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Active
BEDS0 BATHS MLS#6967518
STATUSActive PROPERTY TYPEMulti Unit - Multiple SUBDIVISIONCENTERRA SCHOOLAgua Fria Union High School District

Property Description

7.50% Cap Rate on Stabilized Assisted Living InvestmentProven 3-Year Operator Just Renewed for 5 More Years$61,883 NOI Operating Income$67,200 Gross Annual Income with Escalations Through 2030NN Lease Structure - Owner Pays Only Taxes, Insurance & $50 HOATenant Paid January, February & March 2026Built-In Rent Increases Locked Through 2030Low Expense Ratio - Strong Yield ProfileGrowing Goodyear Senior Housing Demand EXECUTIVE SUMMARY7.50% Cap Rate | NN Leased Residential Investment | 5-Year LeaseThis offering consists of a single-family residence leased to an established care operator under a long-term lease structure. The property is being offered as a real estate investment only. The operating business, license, and care operations are not included in the sale.The tenant has successfully operated at the property for approximately three years and executed a new five-year lease beginning January 12, 2026, providing renewed contractual income stability and built-in rent growth.The property is offered at $825,000, delivering a true 7.50% cap rate based on verified income and actual operating expenses.Income OverviewBase Rent: $5,600 per monthAnnualized Rent: $67,200Scheduled increases:Year 2: $5,700/monthYear 3: $5,800/monthYear 4: $5,900/monthYear 5: $6,000/monthThe tenant has paid January, February, and March 2026 under the new lease term, confirming continued operational performance.Operating Expenses (Actual)Insurance: $2,793Property Taxes (2025): $1,924HOA: $600Total Annual Expenses: $5,317NOI Operating Income (Year 1): $61,883Investment HighlightsSingle-tenant residential income propertyProven three-year operating history at locationNewly executed 5-year lease (January 2026)Contractual annual rent increasesTrue 7.50% cap rate based on actual expensesLow expense structurePredictable cash flow profileNeeds-based tenant useValuation & Underwriting ConsiderationThis asset should be evaluated based on its income performance and lease structure. As a single-family residence leased to an operator, traditional owner-occupied comparable home sales may not fully reflect the investment value of the property.This opportunity is well suited for investors seeking stable yield, limited management intensity, and long-term lease security supported by a needs-based tenant. Buyer to verify all Facts and Figures

15456 W Morning Glory Street | MLS# 6967518

This multi-family property located at 15456 W Morning Glory Street, Goodyear, AZ 85338 is currently listed for sale with an asking price of $800,000. W Morning Glory Street is located within the Agua Fria Union High School District school district. Search Goodyear real estate on lriddle.arizonabest.com today.

Property Features

Property Type: Multi Unit - Multiple
Cooling: Heat Pump, Ceiling Fan(s)
Heating: Heat Pump, Varies by Unit
Roof Type: Tile
Taxes: $1,924
Year Built: 2005

Feature Descriptions

Community Features: Other, Play Area
Days on Site: 95
Exterior: Sidewalk(s)
Exterior: Wood Frame, Painted, Stucco
Flooring: Ceramic Tile
Parking: Paved, Garage Door Opener, Attached Garage
Water: Master Meter, City Franchise

Local Schools

School District: Agua Fria Union High School District

Listed By / Shown By

Listed By

Agency Name: Gerchick Real Estate
Agency Phone: 602-688-9279

Shown By

Agent Name: Louise Riddle
Agent Phone: (928) 200-4959
Agency Title: Arizona Best Real Estate

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Estimated Payment

$ 2,174.12 per month $1,780.45 Principal & Interest $160.33 Property Tax $233.33 Homeowner's Insurance

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