$3,500,000
Phoenix, AZ 85014
MLS# 5928893
Status: Closed
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Property Description
28 on Thomas is a 27 unit community built in 1959, and then extensively upgraded in 2015. The ''heavy lifting' of major capital improvements includes new roofs, new AC, new hot water heaters, plumbing and electrical. Ongoing interior upgrades include new kitchens - some with granite countertops, tile floors, and new appliances. The property has a new asphalt parking lot off Thomas Road as well as covered tenant parking at the rear of the buildings. The community features a diverse unit mix between two buildings, each comprised of spacious floor plans and solid block construction around a central grassy courtyard and on site laundry. The property is ideally located within minutes to a light rail station. There is also easy access to the Piestewa Freeway, Interstate 10 and Interstate 17.
Details
Maps
Contract Info
Current Price: $3,500,000
Sold Price: $3,500,000
Status: Closed
List Date: 2019-05-21
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: P34
House Number: 1225
Compass: E
Street Name: THOMAS
St Suffix: Road
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85014
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 6 SOUTH COUNTRY CLUB MANOR MCR 003218
Subdivision: SOUTH COUNTRY CLUB MANOR
Assessor's Map #: 21
Assessor's Parcel #: 6
Assessor Parcel Ltr: A
Add'l Parcels: Yes
Assessor Number: 117-21-006-A
Legal: LOT 6 SOUTH COUNTRY CLUB MANOR MCR 003218
Census Tract: 111700
Tax Municipality: Maricopa - COUNTY
Taxes: 7423
Tax Year: 2018
Marketing Name: 28 on Thomas
General Property Description
Lot Size Dimensions: .70
Year Built: 1959
Total # of Units: 27
# of Buildings: 2
Zoning: R5
Elementary School District: Osborn Elementary District
High School District: Phoenix Union High School District
Remarks & Misc
Directions: From 51 South, take Thomas Rd exit west. Property is on south side of street.
Geo Lat: 33.479911
Geo Lon: -112.054941
Status Change Info
Status Change Date: 2019-09-06
Off Market Date: 2019-09-05
Under Contract Date: 2019-06-19
Close of Escrow Date: 2019-09-05
Sold Price: $3,500,000
Legal Info
Township: 2N
Range: 3E
Section: 33
Lot Number: 6
Income & Expenses
Owner Association: No
Operating Exp: 7423
Pmt & Rate Info
Equity: 3575000
Efficiency Units
# Efficiency Units: 1
Avg Rent: 685
Avg SqFt: 660
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 16
Avg Rent: 782
Avg SqFt: 748
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 10
Avg Rent: 975
Avg SqFt: 925
# Baths: 1
Sold Info
Loan Type: Conventional
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: 25 - 50 Units
Construction: Block
Const - Finish: Painted
Roofing: Comp Shingle
Floors: Ceramic Tile
Sale Includes: Land & Building
Community Amenities: No Pool
Exterior Amenities: Green Landscaping; Fenced
Appliances Included: F/S Oven/Range; Dishwasher; Microwave
Heating: Individual
Cooling: Individual
Water: Master Meter
Sewer: Sewer - Public
Electric: Individual Meter
Gas: None
Parking: Carport
Roads/Streets: Asphalt
Owner Pays: Water
Tenant Pays: Electric
Source of Fincl Data: Other (See Remarks)
Existing 1st Loan: Other (See Rmks)
Existing 1st Ln Type: Not Applicable
Existing 1st Ln Trms: Not Applicable
Existing 2nd Loan: Other (See Remarks)
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Other (See Remarks)
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Other (See Remarks)
New Financing: Other (See Remarks)
Reports/Disclosures: None
Environmental: None
Supplements
28 on Thomas presents a solid opportunity for an investor looking to focus on operations and with minor capital expenditure build on the positive momentum from existing upgrades to better leverage its location and improve returns.
Listing Office: REI Marketing
Last Updated: September - 06 - 2019
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
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