$235,000
Apache Junction, AZ 85119
MLS# 5711654
Status: Closed
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Property Description
Significantly upgraded 4plex with all 800+ SF 2 bedroom/1 bath units. Located just east of Mesa in fast-growing Apache Junction. Upgrades include the roof, most windows, porches/decks, tile flooring, and much more! Standard rent is $550 ($.68/SF) allowing for the opportunity to raise rents. 7+/-CAP range now with potential for 8 CAP. Hard to find a building in good condition offering this attractive of a CAP rate in the Phoenix area. 3320 SF building/10,023 SF lot. Ample parking. Buyer to complete and rely on own due diligence. Expenses projected. OM available upon request. Interior showings only in escrow, please drive by only and not disturb the tenants.
Details
Maps
Contract Info
Current Price: $235,000
Sold Price: $235,000
Status: Closed
List Date: 2018-01-17
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: R44
House Number: 457
Compass: E
Street Name: QUAIL
St Suffix: Avenue
City/Town Code: Apache Junction
State/Province: AZ
Zip Code: 85119
Zip4: 3770
Country: USA
County Code: Pinal
Legal Description (Abbrev): LOT 1176 PALM SPRINGS UNIT ELEVEN CAB 14 SLD 6
Subdivision: PALM SPRINGS UNIT ELEVEN
Assessor's Map #: 6
Assessor's Parcel #: 77
Add'l Parcels: No
Assessor Number: 102-06-077
Legal: LOT 1176 PALM SPRINGS UNIT ELEVEN CAB 14 SLD 6
Census Tract: 315
Tax Municipality: Apache Junction
Taxes: 1448
Tax Year: 2017
Marketing Name: Quail 4plex
General Property Description
Lot Size Dimensions: 10023
Year Built: 1983
Uncvrd Parking Spcs: 6
Total # of Units: 4
# of Buildings: 1
Zoning: Res
Jr. High School: Apache Junction High School
High School: Apache Junction High School
Elementary School District: Apache Junction Unified District
High School District: Apache Junction Unified District
Remarks & Misc
Cross Street: 60/Idaho
Directions: North on Idaho to Southern-East to Winchester-North to Quail-East to property on south side.
Geo Lat: 33.394014
Geo Lon: -111.540895
Status Change Info
Status Change Date: 2018-02-22
Off Market Date: 2018-02-17
Under Contract Date: 2018-02-07
Close of Escrow Date: 2018-02-21
Sold Price: $235,000
Legal Info
Township: 01N
Range: 08E
Section: 28
Lot Number: 1176
Income & Expenses
Owner Association: No
Operating Exp: 1448
Pmt & Rate Info
Down Payment %: 100
1st Payment Freq: None
2nd Payment Freq: None
3rd Payment Freq: None
Equity: 246000
2 Bedroom Units
Avg Rent: 550
Avg SqFt: 805
# Baths: 1
Sold Info
Loan Type: Cash
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession to Buyer: 600
Seller Concession $/%: $
Property Features
Project Type: Four Plex
Construction: Frame - Wood
Const - Finish: Painted
Roofing: Rolled
Floors: Concrete
Sale Includes: Land & Building
Community Amenities: No Pool
Exterior Amenities: Separate Storage
Interior Amenities: Unfurnished
Appliances Included: F/S Oven/Range; Refrigerator
Cooling: Electric
Water: City Franchise
Sewer: Septic Tank
Electric: SRP
Gas: None
Parking: >1 Space Per Unit
Roads/Streets: Asphalt
Owner Pays: Water; Trash Collection
Tenant Pays: Electric; Cable TV
Source of Fincl Data: Provided by Owner; Projected Proforma
Existing 1st Loan: Treat as Free&Clear
Existing 1st Ln Type: Not Applicable
Existing 1st Ln Trms: Not Applicable
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; No Carry; 1031 Exchange
Reports/Disclosures: Seller Prop Disc Stm
Environmental: None
Listing Office: Platinum Living Realty
Last Updated: October - 15 - 2020
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