$8,500,000
Phoenix, AZ 85015
MLS# 6673630
1 / 11
Property Description
INDIVIDUALLY-PARCELED. FUTURE OPPORTUNITY TO SELL INDIVIDUALLY. C OF O ANTICIPATED APRIL 2024. Advantageously situated in Prime Central Phoenix, Madison at Encanto (''the property'') is a brand new 18-unit Townhome community located in the Encanto neighborhood, Northeast of the 19th Avenue and Thomas Road intersection and immediately north of the Encanto Golf Course. Its nearby proximity to Interstate 17, Interstate 10, and State Route 51, three major transportation arteries, affords residents direct access to simple passage within desirable commute times to nearly any destination across The Valley. Some of those nearby destinations include a number of the most prominent employment and entertainment corridors in the state.
Details
Maps
Contract Info
Current Price: $8,500,000
List Price: $8,500,000
Status: Active
List Date: 2024-03-05
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
House Number: 1818
Compass: W
Street Name: Earll
St Suffix: Drive
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85015
Country: USA
County Code: Maricopa
Assessor's Map #: 26
Assessor's Parcel #: 167
Add'l Parcels: Yes
Assessor Number: 110-26-167
Legal: 168042 URBAN ENCANTO
Tax Municipality: Phoenix
Taxes: 36259
Tax Year: 2023
Marketing Name: Madison at Encanto
General Property Description
Lot Size Dimensions: 0.80
Year Built: 2024
Uncvrd Parking Spcs: 4
Total # of Units: 18
# of Buildings: 2
Zoning: R-4A
Elementary School District: Osborn Elementary District
High School District: Phoenix Union High School District
Remarks & Misc
Geo Lat: 33.484665
Geo Lon: -112.098862
Status Change Info
Status Change Date: 2024-03-07
Legal Info
Lot Number: 1
Income & Expenses
Annual Elec Exp: 17700
Annual Ins Exp: 7725
Annual Landscape Exp: 3600
Annual Legal & Acctg: 3600
Annual Maint Exp: 6750
Annual Mgmt Exp: 23451
Owner Association: No
Annual Rplcmnt Rsrvs: 5400
Annual Other Expense: 9900
Operating Exp: 114385
Gross Annual Sch Inc: 594864
Other Income: 27110
Vacancy Allowance: 0.06
Adjusted Gross Inc: 584655.56
Net Operating Income: 471897
Pmt & Rate Info
Cap Rate: 5.55
Equity: 8500000
Showing Notification Methods
Showing Service: No Showing Service Used
3 Bedrooms Units
# 3 Bedroom Units: 18
Avg Rent: 2700
Avg SqFt: 1310
# Baths: 54
Property Features
Project Type: 13 - 24 Units
Construction: Block; Frame - Wood
Const - Finish: Painted; Stucco
Roofing: Comp Shingle
Floors: Vinyl; Wood; Carpet
Sale Includes: Land & Building
Community Amenities: No Pool; Barbecue
Exterior Amenities: Green Landscaping; Desert Landscaping
Interior Amenities: Unfurnished
Appliances Included: F/S Oven/Range; Refrigerator; Dishwasher; Microwave; Washer/Dryer
Heating: Ceiling; Individual
Cooling: Ceiling Fan(s); Electric; Individual
Water: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking: Garage
Roads/Streets: Asphalt
Owner Pays: Water
Tenant Pays: Electric
Source of Fincl Data: Provided by Owner
Showing Notification Methods: Text
Lockbox Type: None
New Financing: Conventional; 1031 Exchange
Reports/Disclosures: None
Environmental: None
Supplements
Midtown is home to the Innovation Employment Corridor, which runs down Central Avenue, presenting employment opportunities from some of the most prolific companies in Arizona such as Banner Health and IBM. Park Central is also in close proximity , home to healthcare innovators such as Dignity Health, St. Joseph's Medical Center, Barrow Neurological Institute as well as Creighton University. Additionally, just under 4 miles northwest, is Grand Canyon University with an on-campus enrollment of ±25,000 students.
With completion slated for December 2023, Madison at Encanto is entirely comprised of three-bedroom floorplans covering 1,310 square feet - each complete with privatized back yards and personal garages. In addition, each unit's interior will come equipped with premium appliances and finishes including: stainless steel appliances, quartz countertops, cabinets, flooring, fixtures and hardware.
Listing Office: Marcus & Millichap
Last Updated: March - 07 - 2024
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
Copyright 2024 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.