$1,950,000
Phoenix, AZ 85015
MLS# 6695322
1 / 19
Property Description
Casitas on Turney is comprised of (1) studio and (9) 2-bedroom / 1-bathroom units. The property has ample parking for all residents and privately fenced front and/or backyards. In the mid 2000's there were 5 units that were completely rebuilt from the ground up. Most recently 2 units were completely remodeled from the studs, leaving only the studio apartment and 2 of the 2-bed units in more original condition. There's a value-add opportunity both now and in the future by completing the renovations and the installation of an on-site or in-suite laundry facility. Down the line there is additional value to be added through redeveloping the site with the current R-3 zoning allowing for additional units. The Seller is also willing to carry the note; please call the listing agent for info.
Details
Maps
Contract Info
Current Price: $1,950,000
List Price: $1,950,000
Status: Active
List Date: 2024-04-22
Ownership: Fee Simple
Subagents: N
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
House Number: 2425
Compass: W
Street Name: TURNEY
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85015
Zip4: 4529
Country: USA
County Code: Maricopa
Legal Description (Abbrev): FRUITLAND AC LOT 6 W2 EX S 300'
Subdivision: FRUITLAND ACRES
Assessor's Map #: 17
Assessor's Parcel #: 29
Assessor Parcel Ltr: A
Add'l Parcels: No
Assessor Number: 154-17-029-A
Legal: FRUITLAND AC LOT 6 W2 EX S 300'
Census Tract: 109003
Tax Municipality: Phoenix
Taxes: 2533
Tax Year: 2023
Marketing Name: Casitas on Turney
General Property Description
Lot Size Dimensions: 163ft x 300ft
Year Built: 1949
Uncvrd Parking Spcs: 26
Total # of Units: 10
# of Buildings: 10
Zoning: R3
Elementary School District: Alhambra Elementary District
High School District: Phoenix Union High School District
Remarks & Misc
Geo Lat: 33.499933
Geo Lon: -112.11135
Status Change Info
Status Change Date: 2024-04-22
Legal Info
Township: 2N
Range: 2E
Section: 24
Lot Number: 6
Income & Expenses
Owner Association: No
Operating Exp: 2533
Gross Annual Sch Inc: 166860
Vacancy Allowance: 0.05
Adjusted Gross Inc: 158517
Net Operating Income: 114119
Pmt & Rate Info
Cap Rate: 5.85
Equity: 1950000
Showing Notification Methods
Showing Service: No Showing Service Used
Efficiency Units
# Efficiency Units: 1
Avg Rent: 1100
Avg SqFt: 540
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 9
Avg Rent: 1444
Avg SqFt: 700
# Baths: 1
Property Features
Project Type: 5 - 12 Units
Other Type: Other (See Remarks)
Construction: Frame - Wood; Other (See Remarks)
Const - Finish: Painted; Stucco
Roofing: Comp Shingle; Other (See Remarks)
Floors: Vinyl; Ceramic Tile; Other
Sale Includes: Other (See Remarks)
Community Amenities: See Remarks
Exterior Amenities: Landscape Wtr System; Fenced; Patio/Balcony; Other (See Remarks)
Interior Amenities: Unfurnished; Other (See Remarks)
Appliances Included: BI Oven/Range; F/S Oven/Range; Refrigerator; Dishwasher; Microwave
Heating: Individual; Central; Heat Pump; Window/Wall Unit(s)
Cooling: Ceiling Fan(s); Electric; Window/Wall Unit; Individual; Central A/C
Water: City Franchise
Sewer: Sewer - Public
Electric: APS; SRP
Gas: None
Parking: >1 Space Per Unit; Paved Parking; Other (See Remarks)
Roads/Streets: Asphalt; Concrete
Owner Pays: Water; Trash Collection
Tenant Pays: Electric; Cable TV
Source of Fincl Data: Projected Proforma
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
New Financing: Conventional; Seller May Carry
Reports/Disclosures: Other (See Remarks)
Environmental: Other (See Remarks)
Listing Office: ABI Multifamily
Last Updated: April - 23 - 2024
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