$370,000
7602 N 61ST Avenue
Glendale, AZ 85301
MLS# 5813960
Status: Closed



7602 N 61ST Avenue, Glendale, AZ 85301
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Property Description
Close to the Cardinals Stadium, this glowing gem is close proximity to shopping, dining, plenty of entertainment and nightlife; a renter's dream!! This star player property is in a group of nine fourplexes; all units are rented with long-term tenants. Two bedroom units are townhouse style with each unit having a private yard. Easy to rent with room for rental increases. Owner has maintained the property very well; AC units and roofs have been serviced every year. Tenants can enjoy covered parking and fresh exterior paint. Units are individually metered for electric and NO HOA!! Please DO NOT DISTURB tenants and interior showings ONLY on opening of Escrow.

Details
Maps
Documents
Contract Info
Current Price: $370,000
Sold Price: $370,000
Status: Closed
List Date: 2018-08-31
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: N32
House Number: 7602
Compass: N
Street Name: 61ST
St Suffix: Avenue
City/Town Code: Glendale
State/Province: AZ
Zip Code: 85301
Zip4: 1213
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 2 JUSTIN WAYNE PHASE 1 LOT 1-9 MCR 025819
Subdivision: JUSTIN WAYNE PHASE 1 LOT 1-9
Assessor's Map #: 39
Assessor's Parcel #: 33
Add'l Parcels: No
Assessor Number: 143-39-033
Legal: LOT 2 JUSTIN WAYNE PHASE 1 LOT 1-9 MCR 025819
Census Tract: 92600
Tax Municipality: Glendale
Taxes: 1790
Tax Year: 2017
Marketing Name: Fourplex
General Property Description
Lot Size Dimensions: IRR
Year Built: 1984
Uncvrd Parking Spcs: 4
Total # of Units: 4
# of Buildings: 1
Zoning: Multi
Elementary School: Horizon School
Jr. High School: Horizon School
Elementary School District: Glendale Elementary District
High School District: Glendale Union High School District
Remarks & Misc
Cross Street: 61ST AVENUE & NORTHERN
Directions: From 61 St Ave and Northen turn South - Property is on the right.
Geo Lat: 33.547744
Geo Lon: -112.190902
Status Change Info
Status Change Date: 2018-12-05
Off Market Date: 2018-10-25
Under Contract Date: 2018-10-24
Close of Escrow Date: 2018-12-05
Sold Price: $370,000
Legal Info
Township: 2N
Range: 2E
Section: 6
Lot Number: 2
Income & Expenses
Annual Ins Exp: 950
Annual Maint Exp: 1000
Annual Mgmt Exp: 2700
Annual Trash Exp: 460
Annual Wtr/Swr Exp: 1300
Owner Association: No
Operating Exp: 8200
Gross Annual Sch Inc: 34800
Other Income: 1200
Vacancy Allowance: 3
Adjusted Gross Inc: 72000
Totl Mnth Rntal Inc: 2900
Net Operating Income: 26533
Pmt & Rate Info
Cap Rate: 5.36
Equity: 495000
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 725
Avg SqFt: 1044
# Baths: 1
Sold Info
Loan Type: VA
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: Four Plex
Construction: Frame - Wood
Const - Finish: Painted; Siding
Roofing: Comp Shingle
Floors: Vinyl; Carpet
Sale Includes: Land & Building
Community Amenities: No Pool
Exterior Amenities: Green Landscaping; Desert Landscaping; Fenced; Cable TV Available; Patio/Balcony; Security Light(s)
Interior Amenities: Unfurnished; Fire/Smoke Alarm(s); Vertical Blinds; Mini Blinds
Appliances Included: F/S Oven/Range; Refrigerator; Dishwasher
Heating: Individual; Central
Cooling: Ceiling Fan(s); Electric; Individual
Water: Master Meter
Sewer: Sewer - Public
Electric: APS; Individual Meter
Gas: None
Parking: >1 Space Per Unit; Paved Parking
Roads/Streets: Asphalt; Sidewalk(s)
Owner Pays: Water; Trash Collection
Tenant Pays: Electric; Cable TV
Source of Fincl Data: 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
Reports/Disclosures: Seller Prop Disc Stm
Environmental: None

Listing Office: Gerchick Real Estate

Last Updated: April - 16 - 2020

7602 N 61ST Avenue, Glendale, AZ 85301 - MLS# 5813960
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