$2,412,500
Phoenix, AZ 85016
MLS# 6198460
Status: Closed
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Property Description
Welcome to Palmaire, a Mid-Century Modern gem in the Camelback Corridor with gorgeous landscaping. This 1960's complex has 18 units w/tremendous flair, lush grounds, a gorgeous community pool/ramada, etc. The 10 condos for sale have been remodeled. Open floor plans allow for great space to entertain or relax. There are three 1 bed, 1 bath units, five 2 bed, 2 bath units and two 3 bed, 2 bath units. 2 units are furnished. All units feature stainless steel appliances with quartz or granite countertops, shaker-style cabinets and beautiful flooring ranging from stained concrete to bamboo. Covered/assigned parking. Beautiful city park across the street. Easy access to the 51 and exceptional dining along Camelback Rd. Many restaurants and community hot spots in close proximity
Details
Maps
Documents
Contract Info
Current Price: $2,412,500
Sold Price: $2,412,500
Status: Closed
List Date: 2021-02-24
Ownership: Condominium
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: N35
House Number: 1630
Compass: E
Street Name: GEORGIA
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85016
Zip4: 3210
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 103 PALMAIRE CONDOMINIUM MCR 086812
Subdivision: PALMAIRE CONDOMINIUM
Assessor's Map #: 55
Assessor's Parcel #: 278
Add'l Parcels: No
Assessor Number: 164-55-278
Legal: PALMAIRE CONDOMINIUM MCR 086812 (10 units to come in escrow)
Census Tract: 107700
Tax Municipality: Maricopa - COUNTY
Taxes: 15179
Tax Year: 2020
Marketing Name: Palmaire
General Property Description
Year Built: 1964
Uncvrd Parking Spcs: 2
Total # of Units: 10
# of Buildings: 2
Zoning: M_H
Flood Zone: No
Elementary School: Madison Elementary School
Jr. High School: Madison Meadows School
Elementary School District: Madison Elementary District
High School District: Phoenix Union High School District
Remarks & Misc
Cross Street: Camelback & 16th Street
Directions: North on 16th St; East on E Georgia Ave to property on the left at the end of the cul-de-sac.
Geo Lat: 33.515092
Geo Lon: -112.04601
Status Change Info
Status Change Date: 2021-05-18
Off Market Date: 2021-05-12
Under Contract Date: 2021-03-22
Close of Escrow Date: 2021-05-18
Sold Price: $2,412,500
Legal Info
Township: 2N
Range: 3E
Section: 15
Lot Number: 103,105,106,108,....
Income & Expenses
Owner Association: Yes
Annual Other Expense: 80000
Operating Exp: 95179
Gross Annual Sch Inc: 205000
Adjusted Gross Inc: 205000
Net Operating Income: 121000
Pmt & Rate Info
Cap Rate: 4.65
Equity: 2600000
1 Bedroom Units
# 1 Bedroom Units: 3
Avg Rent: 1395
Avg SqFt: 905
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 5
Avg Rent: 1795
Avg SqFt: 1200
# Baths: 2
3 Bedrooms Units
# 3 Bedroom Units: 2
Avg Rent: 1995
Avg SqFt: 1400
# Baths: 2
Sold Info
Loan Type: Exchange
Loan Years: 5
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: 5 - 12 Units
Other Type: Packaged Offering
Construction: Brick
Const - Finish: Other (See Remarks)
Roofing: Rolled
Floors: Concrete; Wood; Carpet
Sale Includes: Building(s) Only; Personal Property
Community Amenities: Pool
Exterior Amenities: Landscape Wtr System; Green Landscaping; Patio/Balcony
Interior Amenities: Furnished; Unfurnished; Fire/Smoke Alarm(s); Vertical Blinds; Mini Blinds; Breakfast Bar; Other (See Remarks)
Appliances Included: F/S Oven/Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer
Cooling: Ceiling Fan(s); Individual; Central A/C
Water: Master Meter; Other
Sewer: Sewer - Public
Electric: APS; Individual Meter
Gas: None
Parking: 1 Space/Unit; Assigned; Free; Paved Parking; Other (See Remarks)
Roads/Streets: Asphalt; Dedicated Street; Sidewalk(s)
Owner Pays: Other; See Remarks
Tenant Pays: Electric; Cable TV
Source of Fincl Data: Provided by Owner
Showing Notification Methods: 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: 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: Not Applicable
New Financing: Conventional; 1031 Exchange; Other (See Remarks)
Reports/Disclosures: None
Environmental: None
Palmaire Spread 
Listing Office: Metro Realty
Last Updated: May - 18 - 2021
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