$1,699,000
Phoenix, AZ 85007
MLS# 6558936
1 / 52
Property Description
Seven at Fillmore is a seven unit apartment complex built in the early 1900s to late 1999. Has been updated been updated and remodeled in recent years. The property just had new electrical panels with permits and will be completed before close of escrow. Several of units are currently furnished and being used as short term rentals. Unit mix (2 )two bedroom (1 )bath units three one bedroom ( 1) bath units and (2) studios. On site laundry that is seller owned. Owner will carry with 20 to 25% down at a 5% rate 30 year am due in 5 to 7 years.
Details
Maps
Contract Info
Current Price: $1,699,000
List Price: $1,699,000
Status: Active
List Date: 2023-05-19
Ownership: Fee Simple
Subagents: N
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: Q34
House Number: 1527
Compass: W
Street Name: FILLMORE 1-7
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85007
Zip4: 2237
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 17 BLOCK C WEST LAWN ANNEX MCR 000463
Subdivision: WEST LAWN ANNEX
Assessor's Map #: 26
Assessor's Parcel #: 110
Add'l Parcels: Yes
Assessor Number: 111-26-110
Legal: LOT 17 BLOCK C WEST LAWN ANNEX MCR 000463
Census Tract: 112900
Tax Municipality: Phoenix
Taxes: 1176
Tax Year: 2022
Marketing Name: Seven at Fillmore
General Property Description
Lot Size Dimensions: IRR
Year Built: 1999
Uncvrd Parking Spcs: 8
Total # of Units: 7
# of Buildings: 2
Zoning: M-H
Elementary School District: Phoenix Elementary District
High School District: Phoenix Union High School District
Remarks & Misc
Cross Street: Van Buren & 7th Avenue.
Directions: 15TH AVENUE NORTH OF VANBUREN TO FILLMORE. WEST TO PROPERTY ON SOUTH SIDE OF STREET.
Geo Lat: 33.454729
Geo Lon: -112.092447
Status Change Info
Status Change Date: 2024-01-24
Legal Info
Township: 1N
Range: 3E
Section: 6
Block: C
Lot Number: 17
Income & Expenses
Annual Elec Exp: 15000
Annual Ins Exp: 1800
Annual Landscape Exp: 1200
Annual Maint Exp: 4000
Annual Mgmt Exp: 6500
Annual Trash Exp: 2000
Annual Wtr/Swr Exp: 4000
Owner Association: No
Operating Exp: 35676
Gross Annual Sch Inc: 161400
Vacancy Allowance: 0.05
Adjusted Gross Inc: 153330
Totl Mnth Rntal Inc: 13450
Net Operating Income: 117654
Pmt & Rate Info
Cap Rate: 6.92
Equity: 1699000
Efficiency Units
# Efficiency Units: 2
Avg Rent: 1000
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 3
Avg Rent: 2200
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 2500
# Baths: 1
Property Features
Project Type: 5 - 12 Units
Other Type: Other (See Remarks)
Construction: Block
Const - Finish: Painted; Stucco
Roofing: Comp Shingle
Floors: Wood
Sale Includes: Land & Building
Community Amenities: No Pool
Exterior Amenities: Landscape Wtr System; Green Landscaping; Partially Fenced; Patio/Balcony; Security Light(s)
Interior Amenities: Unfurnished; Fire/Smoke Alarm(s); Drapes
Appliances Included: BI Oven/Range; Refrigerator; Other (See Remarks)
Cooling: Electric; Heat Pump; Window/Wall Unit
Water: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: None
Parking: Street Parking; >1 Space Per Unit; Add'l Parking Avail; Free
Roads/Streets: Asphalt; Concrete; Curb(s) & Gutter(s); Sidewalk(s); Alley
Owner Pays: Water; Electric; Trash Collection
Tenant Pays: None
Source of Fincl Data: Projected Proforma; Other (See Remarks)
Showing Notification Methods: Text
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
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; Seller May Carry; 1031 Exchange
Reports/Disclosures: Seller Prop Disc Stm
Environmental: None
Supplements
Currently rent roll
Unit #1 2500 short term furnished 2 bed
#2 3200 furnished lease July 2023 1 bed
#3 2500 furnished short term 1 bed
#4 900 month to month studio
Listing Office: Grace CRE
Last Updated: January - 24 - 2024
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