$3,095,000
Phoenix, AZ 85003
MLS# 6669116
1 / 18
Property Description
314 W Roosevelt Street is incredibly charming, originally built in 1913 and undergoing a modernization in the late 90's that included all new plumbing/sewer lines, electrical (inc. in-unit sub panels), all new roof trusses, water heater and more. A/C units are being replaced as necessary with roof and exterior stucco replaced in 2011. It features (12) 1-Bed / 1-Bath units with (3) different floor plans averaging ~635 sf per unit. The community features an on-site laundry facility, plenty of parking, a community terrace and a variety of additional storage space. This is a rare opportunity that features a double lot, the property sits on half an acre and has the ability to build additional units. The interior finishes are in clean value-add condition. DO NOT DISTURB TENANTS, DRIVE BY ONLY!
Details
Maps
Contract Info
Current Price: $3,095,000
List Price: $3,095,000
Status: Active
List Date: 2024-02-26
Ownership: Fee Simple
Subagents: N
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
House Number: 314
Compass: W
Street Name: ROOSEVELT
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85003
Zip4: 1423
Country: USA
County Code: Maricopa
Legal Description (Abbrev): KENILWORTH LOTS 7 & 8 BLK 2
Subdivision: KENILWORTH BLKS 7-14
Assessor's Map #: 32
Assessor's Parcel #: 26
Add'l Parcels: No
Assessor Number: 111-32-026
Legal: KENILWORTH LOTS 7 & 8 BLK 2
Census Tract: 113000
Tax Municipality: Phoenix
Taxes: 7883
Tax Year: 2023
Marketing Name: 314 West Roosevelt Street
General Property Description
Lot Size Dimensions: 146ft X 149ft
Year Built: 1924
Uncvrd Parking Spcs: 16
Total # of Units: 12
# of Buildings: 1
Zoning: DTC-S-ROO
Elementary School District: Phoenix Elementary District
High School District: Phoenix Union High School District
Remarks & Misc
Cross Street: Roosevelt Street & 3rd Avenue
Geo Lat: 33.458955
Geo Lon: -112.078443
Status Change Info
Status Change Date: 2024-02-26
Legal Info
Township: 1N
Range: 3E
Section: 5
Lot Number: 7
Income & Expenses
Owner Association: No
Operating Exp: 7883
Gross Annual Sch Inc: 251280
Other Income: 6432
Vacancy Allowance: 0.05
Adjusted Gross Inc: 244826.4
Net Operating Income: 192144
Pmt & Rate Info
Cap Rate: 6.21
Equity: 3095000
Showing Notification Methods
Showing Service: No Showing Service Used
1 Bedroom Units
# 1 Bedroom Units: 12
Avg Rent: 929
Avg SqFt: 650
# Baths: 1
Property Features
Project Type: 5 - 12 Units
Construction: Frame - Wood; Brick
Const - Finish: Painted; Stucco
Roofing: Comp Shingle; Foam
Floors: Vinyl; Wood
Sale Includes: Land & Building
Community Amenities: No Pool; See Remarks
Exterior Amenities: Landscape Wtr System; Patio/Balcony; Other (See Remarks)
Interior Amenities: Unfurnished; Other (See Remarks)
Appliances Included: BI Oven/Range; Refrigerator; Dishwasher; Microwave; Other (See Remarks)
Heating: Individual; Heat Pump
Cooling: Electric; Individual; Central A/C
Water: City Franchise; Master Meter
Sewer: Sewer - Public
Electric: APS; Individual Meter
Gas: None
Parking: >1 Space Per Unit; Paved Parking
Roads/Streets: Asphalt; Alley
Owner Pays: Water; Trash Collection
Tenant Pays: Electric
Source of Fincl Data: Projected Proforma
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
New Financing: Conventional; No Carry
Reports/Disclosures: Other (See Remarks)
Environmental: None; Other (See Remarks)
Listing Office: ABI Multifamily
Last Updated: February - 27 - 2024
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