$2,640,000
Surprise, AZ 85378
MLS# 5802536
Status: Closed
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Property Description
34 Apartment Units in Surprise For Sale. Located near Bell/R.H. Johnson Blvd, one of Surprise's only middle income options for renters. This property is full with rising rents. All 2 bed/1.5 bath town homes, 920 sf, tile flooring downstairs, with private yards and washer/dryer hook-ups in each unit. Individually metered for electric and master metered for water (no gas). New parking lot in early 2018. Three buildings have new roofs. This is a value-add opportunity. Buyer to verify all facts and figures.
Details
Maps
Contract Info
Current Price: $2,640,000
Sold Price: $2,640,000
Status: Closed
List Date: 2018-08-04
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: L29
House Number: 15427
Compass: N
Street Name: JERRY
St Suffix: Street
City/Town Code: Surprise
State/Province: AZ
Zip Code: 85378
Zip4: 4166
Country: USA
County Code: Maricopa
Legal Description (Abbrev): E2 S2 S2 N2 SE4 SE4 SE4 SEC 2 EX E 33F RD P/D 12547-705
Assessor's Map #: 23
Assessor's Parcel #: 102
Assessor Parcel Ltr: C
Add'l Parcels: Yes
Assessor Number: 501-23-102-C
Legal: E2 S2 S2 N2 SE4 SE4 SE4 SEC 2 EX E 33F RD P/D 12547-705
Census Tract: 60801
Tax Municipality: Surprise
Taxes: 5241
Tax Year: 2018
Marketing Name: Saguaro Heights
General Property Description
Lot Size Dimensions: IRR
Year Built: 1987
Uncvrd Parking Spcs: 53
Total # of Units: 34
# of Buildings: 6
Zoning: MF
Elementary School: Dysart Elementary School
Jr. High School: Dysart Elementary School
High School: Dysart High School
Elementary School District: Dysart Unified District
High School District: Dysart Unified District
Remarks & Misc
Geo Lat: 33.624505
Geo Lon: -112.325369
Status Change Info
Status Change Date: 2019-10-01
Off Market Date: 2019-09-23
Under Contract Date: 2019-07-20
Close of Escrow Date: 2019-09-30
Sold Price: $2,640,000
Legal Info
Township: 3N
Range: 1W
Section: 2
Income & Expenses
Annual Elec Exp: 250
Annual Ins Exp: 5878
Annual Landscape Exp: 4898
Annual Legal & Acctg: 2260
Annual Maint Exp: 28644
Annual Mgmt Exp: 30267
Annual Trash Exp: 9768
Annual Wtr/Swr Exp: 24864
Owner Association: No
Annual Other Expense: 3450
Operating Exp: 115520
Gross Annual Sch Inc: 306816
Other Income: 5056
Vacancy Allowance: 0.03
Adjusted Gross Inc: 302515.84
Net Operating Income: 187148
Pmt & Rate Info
Cap Rate: 6.45
Equity: 2900000
2 Bedroom Units
# 2 Bedroom Units: 34
Avg Rent: 752
Avg SqFt: 920
# Baths: 1
Sold Info
Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: 25 - 50 Units
Construction: Frame - Wood
Const - Finish: Painted; Stucco
Roofing: Other (See Remarks)
Floors: Vinyl; Ceramic Tile; Carpet
Sale Includes: Land & Building
Community Amenities: No Pool
Exterior Amenities: Desert Landscaping; Partially Fenced; Cable TV Available; Patio/Balcony; Pet Restrictions
Interior Amenities: Unfurnished; Fire/Smoke Alarm(s); Vertical Blinds; Mini Blinds
Appliances Included: F/S Oven/Range; Refrigerator; W/D Hookup
Cooling: Electric
Water: City Franchise; Master Meter
Sewer: Sewer - Public
Electric: APS; Individual Meter
Gas: None
Parking: >1 Space Per Unit; Add'l Parking Avail; Assigned; Paved Parking
Roads/Streets: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electric; Cable TV
Source of Fincl Data: Provided by Owner
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
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: APOD/Backup Avaible
Environmental: None
Listing Office: Better Homes & Gardens Real Estate SJ Fowler
Last Updated: October - 03 - 2023
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