$1,990,000
Phoenix, AZ 85007
MLS# 6650960
1 / 15
Property Description
8 Unit, Garden-Style Property, Built in 1940, Fully Renovated in 2023. Attractive Unit Mix Consisting of 100% 2-Bedroom / 1-Bathroom Units. Each Unit Features a Fully Upgraded Interior With White Quartz Countertops, Luxury Vinyl-Plank Flooring, Shaker Cabinets, Light Fixtures, Tile Showers & Tubs, New Paint & Texture, & Stainless Steel Appliance Package. Exterior Upgrades Include Brand New Wood Fencing, Lush Turf Areas, New Windows, Two Tone Paint, & Charming Paver Walkways Mixed With Elegant Desert Landscaping. Each Unit is Individually Metered for Electricity & Boast Private Backyards With New Entry Gates & Outdoor Washer & Dryer. Located in the Roosevelt Arts District, Which Provides Easy Access to Downtown Phoenix's Vibrant Cultural Scene, Dining Hotspots, & Entertainment Options
Details
Maps
Contract Info
Current Price: $1,990,000
List Price: $1,990,000
Status: Active
List Date: 2024-01-16
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
House Number: 315
Compass: N
Street Name: 16TH
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85007
Zip4: 2471
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 38 CAPITOLA PLACE MCR 000407
Subdivision: CAPITOLA PLACE
Assessor's Map #: 26
Assessor's Parcel #: 36
Add'l Parcels: Yes
Assessor Number: 111-26-036
Legal: LOT 38 CAPITOLA PLACE MCR 000407
Census Tract: 112900
Tax Municipality: Phoenix
Taxes: 987
Tax Year: 2023
Marketing Name: 315 & 319 N 16th Ave
General Property Description
Lot Size Dimensions: 6,754
Year Built: 1940
Uncvrd Parking Spcs: 8
Total # of Units: 8
# of Buildings: 4
Zoning: R-5
Elementary School District: Phoenix Elementary District
High School District: Phoenix Union High School District
Remarks & Misc
Geo Lat: 33.451994
Geo Lon: -112.093692
Status Change Info
Status Change Date: 2024-01-16
Legal Info
Township: 1N
Range: 3E
Section: 6
Lot Number: 38
Income & Expenses
Owner Association: No
Operating Exp: 987
Gross Annual Sch Inc: 159370
Other Income: 800
Vacancy Allowance: 0.05
Adjusted Gross Inc: 152161.5
Net Operating Income: 126331
Pmt & Rate Info
Cap Rate: 6.02
Down Payment %: 35
Monthly Payments: 8853
Equity: 2100000
Showing Notification Methods
Showing Service: No Showing Service Used
2 Bedroom Units
# 2 Bedroom Units: 8
Avg Rent: 1695
Avg SqFt: 587
# Baths: 1
Property Features
Project Type: Four Plex
Construction: Block
Const - Finish: Painted
Roofing: Comp Shingle
Floors: Vinyl
Sale Includes: Land & Building
Community Amenities: No Pool
Appliances Included: BI Oven/Range; Refrigerator; Washer/Dryer
Cooling: Ceiling Fan(s); Electric
Water: City Franchise
Sewer: Sewer - Public
Electric: Other (See Remarks)
Gas: SW Gas
Parking: Street Parking; 1 Space/Unit
Roads/Streets: Asphalt
Owner Pays: Water; Trash Collection
Tenant Pays: Electric
Source of Fincl Data: Provided by Owner; Projected Proforma
Lockbox Type: None
New Financing: Conventional
Reports/Disclosures: None
Environmental: None
Listing Office: ABI Multifamily
Last Updated: April - 01 - 2024
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