$5,500,000
Phoenix, AZ 85008
MLS# 6651091
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Property Description
Desert Villa is a 29-unit garden-style apartment community located in East Phoenix. The property is centrally located less than three miles from Phoenix Sky Harbor International Airport, four miles from Downtown Tempe, five miles from Old Town Scottsdale, and seven miles from Downtown Phoenix. Desert Villa community was constructed in 1981 and 1984 and is comprised of seven single-level buildings with pitched asphalt tar shingle roofs. Each unit is individually metered for electricity and is equipped with individual water heaters and air conditioners. The property enjoys a mix of one-bedroom and two-bedroom unit types. There are twenty-one, one-bedroom units and eight, two-bedroom units. Sixty percent of the units have in-suite washer and dryer and enjoy private backyards.
Details
Maps
Contract Info
Current Price: $5,500,000
List Price: $5,500,000
Status: Active
List Date: 2024-01-16
Ownership: Fee Simple
Subagents: N
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
House Number: 1826
Compass: N
Street Name: 51st
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85008
Country: USA
County Code: Maricopa
Assessor's Map #: 20
Assessor's Parcel #: 6
Assessor Parcel Ltr: B
Add'l Parcels: Yes
Assessor Number: 126-20-006-B
Legal: to be provided at title
Tax Municipality: Phoenix
Taxes: 13022
Tax Year: 2023
Marketing Name: Desert Villa
General Property Description
Lot Size Dimensions: unknown
Year Built: 1981
Uncvrd Parking Spcs: 23
Total # of Units: 29
# of Buildings: 7
Zoning: R-3
Elementary School District: Balsz Elementary District
High School District: Phoenix Union High School District
Remarks & Misc
Cross Street: 52nd St & Thomas Rd
Geo Lat: 33.468086
Geo Lon: -111.973091
Status Change Info
Status Change Date: 2024-01-16
Legal Info
Lot Number: 4
Income & Expenses
Owner Association: No
Operating Exp: 13022
Gross Annual Sch Inc: 523800
Other Income: 31053
Vacancy Allowance: 0.12
Adjusted Gross Inc: 488270.64
Net Operating Income: 381067
Pmt & Rate Info
Cap Rate: 6.93
Down Payment %: 1
Monthly Payments: 1
Equity: 5500000
Showing Notification Methods
Showing Service: No Showing Service Used
1 Bedroom Units
# 1 Bedroom Units: 21
Avg Rent: 1450
Avg SqFt: 630
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 8
Avg Rent: 1650
Avg SqFt: 830
# Baths: 1
Property Features
Project Type: 25 - 50 Units
Construction: Frame - Wood; Slump Block
Const - Finish: Painted; Stucco
Roofing: Comp Shingle
Floors: Vinyl; Ceramic Tile
Sale Includes: Land & Building; Laundry Equipment
Community Amenities: Pool; Barbecue; See Remarks
Exterior Amenities: Desert Landscaping
Appliances Included: F/S Oven/Range; Refrigerator; Washer/Dryer
Cooling: Ceiling Fan(s); Electric; Individual
Water: City Franchise; Master Meter
Sewer: Sewer - Public
Electric: SRP; Individual Meter
Gas: None
Parking: >1 Space Per Unit; Paved Parking
Roads/Streets: Asphalt
Owner Pays: Water; Trash Collection
Tenant Pays: Electric
Source of Fincl Data: Provided by Owner
Showing Notification Methods: Text; Email
Lockbox Type: None
New Financing: Conventional; Other (See Remarks)
Reports/Disclosures: None
Environmental: None
Listing Office: Munroe Multifamily
Last Updated: February - 14 - 2024
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