$1,300,000
Phoenix, AZ 85007
MLS# 6672737
1 / 17
Property Description
Building is completely vacant! The six buildings that make up The Bungalows are of wood-frame construction with pitched roofs. The recently renovated apartments are complemented by the mature landscaping and welcoming community courtyard. Value-Add Opportunity Through Remediation of the (2) Fire Damaged Units. 12-unit apartment community located at 1545 West Roosevelt Street in Phoenix, AZ. The Bungalows is located just minutes from the heart of Downtown Phoenix and within walking distance to the iconic intersection of 15th Avenue & Grand Avenue, just west of the highly sought after Roosevelt Row Arts District.
Details
Maps
Contract Info
Current Price: $1,300,000
List Price: $1,300,000
Status: Active
List Date: 2024-02-27
Ownership: Fee Simple
Subagents: N
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
House Number: 1545
Compass: W
Street Name: ROOSEVELT
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85007
Zip4: 2014
Country: USA
County Code: Maricopa
Legal Description (Abbrev): PT OF SW4 SEC 6-T1N-3E & PT OF LTS 7 & 8 BLK 3 OF HOMESTEAD PL MCR 1-26 REFERRED TO AS LT 1 BLK 7 OF
Subdivision: HOMESTEAD PLACE
Assessor's Map #: 25
Assessor's Parcel #: 1
Assessor Parcel Ltr: A
Add'l Parcels: Yes
Assessor Number: 111-25-001-A
Legal: PT OF SW4 SEC 6-T1N-3E & PT OF LTS 7 & 8 BLK 3 OF HOMESTEAD PL MCR 1-26 REFERRED TO AS LT 1 BLK 7 OF
Census Tract: 112900
Tax Municipality: Phoenix
Taxes: 1500
Tax Year: 2023
Marketing Name: The Bungalows
General Property Description
Lot Size Dimensions: 98.23x146.68x97.97x148.84
Year Built: 1937
Uncvrd Parking Spcs: 12
Total # of Units: 12
# of Buildings: 6
Zoning: R-5
Elementary School District: Phoenix Elementary District
High School District: Phoenix Union High School District
Remarks & Misc
Geo Lat: 33.458339
Geo Lon: -112.093362
Status Change Info
Status Change Date: 2024-03-05
Legal Info
Township: 1N
Range: 3E
Section: 6
Lot Number: 7,8
Income & Expenses
Owner Association: No
Operating Exp: 1500
Gross Annual Sch Inc: 147000
Other Income: 8400
Vacancy Allowance: 0.05
Adjusted Gross Inc: 147630
Net Operating Income: 90331
Pmt & Rate Info
Cap Rate: 6.95
Equity: 1300000
Showing Notification Methods
Showing Service: Aligned Showings
Efficiency Units
# Efficiency Units: 10
Avg Rent: 995
Avg SqFt: 300
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 2
Avg Rent: 1150
Avg SqFt: 400
# Baths: 1
Property Features
Project Type: 5 - 12 Units
Construction: Frame - Wood
Const - Finish: Stucco
Roofing: Comp Shingle
Floors: Vinyl
Sale Includes: Building(s) Only
Community Amenities: No Pool
Appliances Included: F/S Oven/Range; Refrigerator; Disposal
Heating: Ceiling
Cooling: Individual
Water: City Franchise
Sewer: Sewer - Public
Electric: APS; Master Meter
Gas: SW Gas
Parking: >1 Space Per Unit
Roads/Streets: Asphalt
Owner Pays: Water; Electric; Gas; Trash Collection; Landscaping
Tenant Pays: Cable TV
Source of Fincl Data: Projected Proforma
Lockbox Type: None
New Financing: Conventional
Reports/Disclosures: None
Environmental: None
Listing Office: ABI Multifamily
Last Updated: March - 05 - 2024
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