$280,000
Phoenix, AZ 85009
MLS# 5712574
Status: Closed
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Property Description
Reduced price for fast cash close!!! Motivated seller. Property needs TLC. Great buy for a savvy investor who knows the area and is willing to get the right tenants. 6 units available main building has 3 doors. Behind main building are three separate buildings with separate fenced yards. Huge parking lot with plenty of space for tenants and guests. Unit break down THREE 2bed/1bath. Rents can be raised to 650 each. Three 1bed/1bath all renting for 500 each. Owner provided all financials, Buyer to verify information during due diligence period.
Details
Maps
Documents
Contract Info
Current Price: $280,000
Sold Price: $280,000
Status: Closed
List Date: 2018-01-22
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: Q33
House Number: 2021
Compass: W
Street Name: WASHINGTON
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85009
Zip4: 5271
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 5 BLOCK 43 CAPITOL BLK 43, 44, 35-38, 29, 30 MCR 000213
Subdivision: CAPITOL BLK 43, 44, 35-38, 29, 30
Assessor's Map #: 49
Assessor's Parcel #: 101
Assessor Parcel Ltr: A
Add'l Parcels: No
Assessor Number: 109-49-101-A
Legal: LOT 5 BLOCK 43 CAPITOL BLK 43, 44, 35-38, 29, 30 MCR 000213
Census Tract: 114402
Tax Municipality: Maricopa - COUNTY
Taxes: 1124
Tax Year: 2017
Marketing Name: Capitol Blk
General Property Description
Lot Size Dimensions: 14000
Year Built: 1931
Uncvrd Parking Spcs: 18
Total # of Units: 6
# of Buildings: 4
Zoning: R-3
Elementary School District: Phoenix Elementary District
High School District: Phoenix Union High School District
Remarks & Misc
Cross Street: Washington street & 19th Ave
Directions: WEST ON JEFFERSON TO 20TH AVE. SOUTH TO WASHINGTON. PROCEED WEST TO PROPERTY AT 2021 WEST WASHINGTON.
Geo Lat: 33.447752
Geo Lon: -112.103182
Status Change Info
Status Change Date: 2018-04-25
Off Market Date: 2018-04-25
Under Contract Date: 2018-04-08
Close of Escrow Date: 2018-04-24
Sold Price: $280,000
Legal Info
Township: 1N
Range: 2E
Section: 12
Block: 43
Lot Number: 5
Income & Expenses
Annual Ins Exp: 1896
Annual Legal & Acctg: 500
Annual Maint Exp: 3200
Annual Mgmt Exp: 2185
Annual Wtr/Swr Exp: 4704
Owner Association: No
Operating Exp: 13609
Gross Annual Sch Inc: 38400
Vacancy Allowance: 0.05
Adjusted Gross Inc: 36480
Net Operating Income: 22871
Pmt & Rate Info
Cap Rate: 8.17
Down Payment: 82500
Down Payment %: 25
Equity: 280000
1 Bedroom Units
# 1 Bedroom Units: 3
Avg Rent: 500
Avg SqFt: 625
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 3
Avg Rent: 565
Avg SqFt: 750
# Baths: 1
Sold Info
Loan Type: Carryback
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: 5 - 12 Units
Construction: Block; Frame - Wood
Const - Finish: Painted; Stucco
Roofing: Comp Shingle
Floors: Concrete; Wood; Ceramic Tile; Carpet
Sale Includes: Land & Building
Community Amenities: No Pool
Exterior Amenities: Desert Landscaping; Separate Storage
Appliances Included: F/S Oven/Range; Refrigerator; Dishwasher; Disposal; Microwave
Heating: Natural Gas
Cooling: Window/Wall Unit; Evaporative Cooling
Water: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: SW Gas
Parking: >1 Space Per Unit; Free; Paved Parking
Roads/Streets: Asphalt
Owner Pays: Water
Tenant Pays: Electric; Gas; Trash
Source of Fincl Data: Provided by Owner
Existing 1st Loan: Conventional; Treat as Free&Clear
Existing 1st Ln Type: Fixed
Existing 1st Ln Trms: Non Assumable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional; Seller May Carry
Reports/Disclosures: Seller Prop Disc Stm
Environmental: None
Financials 
Listing Office: Better Homes & Gardens Real Estate SJ Fowler
Last Updated: August - 13 - 2020
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