$2,700,000
Phoenix, AZ 85018
MLS# 5884188
Status: Closed
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Property Description
Sir John's is a 14-unit apartment community located in a strong East Phoenix rental market. The community was constructed in 1967 with block construction. The property is individually-metered, with pitched roofs and was fully repositioned in 2018. The property consists of six separate duplex-style, single story buildings, comprised of all large two-bedroom units. Each apartment has separately controlled heating and cooling with a roof mounted HVAC units. All units includes large open floor-plans and have fully renovated interiors that were completed in 2018.
Details
Maps
Documents
Contract Info
Current Price: $2,700,000
Sold Price: $2,700,000
Status: Closed
List Date: 2019-02-15
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: P35
House Number: 3141
Compass: N
Street Name: 37TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85018
Zip4: 6347
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 51 CITRUS ACRES LOTS 21-60 MCR 001729
Subdivision: CITRUS ACRES LOTS 21-60
Assessor's Map #: 23
Assessor's Parcel #: 48
Add'l Parcels: No
Assessor Number: 127-23-048
Legal: LOT 51 CITRUS ACRES LOTS 21-60 MCR 001729
Census Tract: 110902
Tax Municipality: Phoenix
Taxes: 7005.7
Tax Year: 2018
Marketing Name: Sir John's
General Property Description
Lot Size Dimensions: 301.86 x 134.32
Year Built: 1967
Uncvrd Parking Spcs: 14
Total # of Units: 14
# of Buildings: 6
Zoning: R3
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District
Remarks & Misc
Geo Lat: 33.485774
Geo Lon: -112.001439
Status Change Info
Status Change Date: 2019-06-10
Off Market Date: 2019-06-10
Under Contract Date: 2019-03-20
Close of Escrow Date: 2019-05-28
Sold Price: $2,700,000
Legal Info
Township: 2N
Range: 3E
Section: 25
Lot Number: 51
Income & Expenses
Annual Ins Exp: 2800
Annual Landscape Exp: 1600
Annual Legal & Acctg: 1400
Annual Maint Exp: 4000
Annual Mgmt Exp: 12492
Annual Wtr/Swr Exp: 12600
Owner Association: No
Annual Rplcmnt Rsrvs: 3500
Annual Other Expense: 1400
Operating Exp: 46797.7
Gross Annual Sch Inc: 226800
Other Income: 1400
Vacancy Allowance: 0.06
Adjusted Gross Inc: 214508
Net Operating Income: 161399
Pmt & Rate Info
Cap Rate: 6
Equity: 2687986
2 Bedroom Units
# 2 Bedroom Units: 14
Avg Rent: 1267
Avg SqFt: 850
# Baths: 1
Sold Info
Loan Type: Conventional
Payment Type: Other
Closing Cost Split: Seller Paid - S
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: 13 - 24 Units
Construction: Slump Block
Const - Finish: Painted
Roofing: Comp Shingle
Floors: Ceramic Tile
Sale Includes: Building(s) Only; Land & Building; Laundry Equipment
Community Amenities: No Pool
Appliances Included: Refrigerator; Dishwasher; Microwave; Washer/Dryer
Heating: Central
Cooling: Central A/C
Water: City Franchise
Sewer: Sewer - Public
Electric: None
Gas: None
Parking: >1 Space Per Unit
Roads/Streets: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electric
Source of Fincl Data: Projected Proforma
Existing 1st Loan: Other (See Rmks)
Existing 1st Ln Type: Not Applicable
Existing 1st Ln Trms: Not Applicable
Existing 2nd Loan: Other (See Remarks)
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Other (See Remarks)
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Other (See Remarks)
Reports/Disclosures: None
Environmental: Other (See Remarks)
Rent Roll 
Listing Office: ABI Multifamily
Last Updated: August - 17 - 2022
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