$750,000
Phoenix, AZ 85008
MLS# 6125935
Status: Closed
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Property Description
Welcome to the Six on McKinley conveniently located in the easily accessible Downtown Phoenix corridor. Property features include updated kitchen & bath, tile flooring, all block construction, a 3 year old roof, and central A/C. All units separately metered for gas and electric. Ability to add in-suite laundry to increase rents. Cap Rate on current rent estimated at 3.87%, with average rents of $750. ProForma Cap Rate estimated at 6.53%, based on market rents of $950 per unit. Buyer to verify all MLS information, as facts and figures are approximate. Do Not Disturb Tenants. Drive-by only.
Details
Maps
Contract Info
Current Price: $750,000
Sold Price: $750,000
Status: Closed
List Date: 2020-09-01
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: P35
House Number: 3002
Compass: E
Street Name: McKinley
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85008
Country: USA
County Code: Maricopa
Assessor's Map #: 71
Assessor's Parcel #: 102
Assessor Parcel Ltr: B
Add'l Parcels: No
Assessor Number: 121-71-102-B
Legal: M&B
Tax Municipality: Phoenix
Taxes: 2558
Tax Year: 2019
Marketing Name: Six on McKinley
General Property Description
Lot Size Dimensions: 274X75
Year Built: 1959
Uncvrd Parking Spcs: 6
Total # of Units: 6
# of Buildings: 1
Zoning: R3
Elementary School: Maurice C. Cash Elementary School
High School: North High School
Elementary School District: Phoenix Elementary District
High School District: Phoenix Union High School District
Remarks & Misc
Cross Street: 30th Street and Roosevelt Street
Directions: South on 30th Street, East on McKinley to property on left hand side.
Geo Lat: 33.457132
Geo Lon: -112.017004
Status Change Info
Status Change Date: 2021-03-24
Off Market Date: 2021-02-19
Under Contract Date: 2021-02-15
Close of Escrow Date: 2021-03-24
Sold Price: $750,000
Income & Expenses
Annual Ins Exp: 2200
Annual Landscape Exp: 1560
Annual Maint Exp: 4000
Annual Trash Exp: 1200
Annual Wtr/Swr Exp: 2160
Owner Association: No
Operating Exp: 13678
Gross Annual Sch Inc: 68400
Vacancy Allowance: 0.05
Adjusted Gross Inc: 64980
Totl Mnth Rntal Inc: 5700
Net Operating Income: 52202
Pmt & Rate Info
Cap Rate: 6.57
Equity: 795000
1 Bedroom Units
# 1 Bedroom Units: 6
Avg Rent: 950
Avg SqFt: 641
# Baths: 1
Sold Info
Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: %
Seller Concession $/%: %
Property Features
Project Type: 5 - 12 Units
Construction: Block
Const - Finish: Painted
Roofing: Comp Shingle
Floors: Concrete
Sale Includes: Land & Building
Community Amenities: No Pool
Exterior Amenities: Desert Landscaping; Fenced
Interior Amenities: Unfurnished
Appliances Included: F/S Oven/Range; Refrigerator
Heating: Natural Gas; Individual
Cooling: Individual; Central A/C
Water: City Franchise; Master Meter
Sewer: Sewer - Public
Electric: APS; Individual Meter
Gas: SW Gas; Individual Meter
Parking: >1 Space Per Unit; Free
Roads/Streets: Asphalt; Curb(s) & Gutter(s)
Owner Pays: Water; Trash Collection
Tenant Pays: Electric; Gas
Source of Fincl Data: Provided by Owner; Projected Proforma
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: Treat as Free&Clear
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional; No Carry
Reports/Disclosures: Seller Prop Disc Stm
Environmental: Super Fund/WQARF/DOD
Listing Office: Grace CRE
Last Updated: January - 09 - 2024
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