$740,000
Phoenix, AZ 85018
MLS# 5928270
Status: Closed
1 / 1
Property Description
This is an excellent opportunity to own in the highly desirable Arcadia area. Opportunity for long or short term rental income. This quad consists of two 1BR/1BA units and two 2BR/1BA units. All four units have dual entry and covered parking. Newer copper plumbing throughout. Units 1-3 have been upgraded with granite countertops, Nest thermostats and recessed lighting all in the last three years. Unit 4 was updated prior to current ownership. Property has been meticulously maintained. Please do not disturb tenants. Drive by only.
Details
Maps
Contract Info
Current Price: $740,000
Sold Price: $740,000
Status: Closed
List Date: 2019-05-15
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: P35
House Number: 3623
Compass: E
Street Name: GLENROSA
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85018
Zip4: 4066
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 7 CAMELBACK HORIZONS MCR 007832
Subdivision: CAMELBACK HORIZONS
Assessor's Map #: 31
Assessor's Parcel #: 28
Add'l Parcels: No
Assessor Number: 170-31-028
Legal: LOT 7 CAMELBACK HORIZONS MCR 007832
Census Tract: 108302
Tax Municipality: Phoenix
Taxes: 3086.22
Tax Year: 2018
Marketing Name: Glenrosa Apartments
General Property Description
Lot Size Dimensions: 11340
Year Built: 1959
Total # of Units: 4
# of Buildings: 1
Zoning: R-3
Elementary School: Monte Vista Elementary School
Jr. High School: Biltmore Preparatory Academy
High School: Arcadia High School
Elementary School District: Creighton Elementary District
High School District: Scottsdale Unified District
Remarks & Misc
Cross Street: 36th Street & Indian School Rd
Geo Lat: 33.498131
Geo Lon: -112.003085
Status Change Info
Status Change Date: 2019-09-03
Off Market Date: 2019-08-12
Under Contract Date: 2019-07-08
Close of Escrow Date: 2019-09-03
Sold Price: $740,000
Legal Info
Township: 2N
Range: 3E
Section: 24
Lot Number: 7
Income & Expenses
Annual Elec Exp: 732
Annual Ins Exp: 5400
Annual Landscape Exp: 600
Annual Maint Exp: 2900
Annual Mgmt Exp: 3700
Annual Trash Exp: 1900
Owner Association: No
Annual Other Expense: 500
Operating Exp: 18818.22
Gross Annual Sch Inc: 61200
Other Income: 1275
Vacancy Allowance: 0.05
Adjusted Gross Inc: 59351.25
Totl Mnth Rntal Inc: 5100
Net Operating Income: 43683
Pmt & Rate Info
Cap Rate: 5.46
Equity: 800000
1 Bedroom Units
# 1 Bedroom Units: 2
Avg Rent: 995
Avg SqFt: 700
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 1053
Avg SqFt: 807
# Baths: 1
Sold Info
Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession to Buyer: 8568.26
Seller Concession $/%: $
Property Features
Project Type: Four Plex
Construction: Block
Const - Finish: Painted
Roofing: Comp Shingle
Floors: Ceramic Tile
Sale Includes: Land & Building; Personal Property; Laundry Equipment
Community Amenities: No Pool
Exterior Amenities: Desert Landscaping
Appliances Included: BI Oven/Range; Refrigerator
Heating: Natural Gas
Cooling: Heat Pump
Water: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking: Carport; 1 Space/Unit
Roads/Streets: Asphalt
Owner Pays: Water; Trash Collection
Tenant Pays: Electric; Gas; Cable TV
Source of Fincl Data: Provided by Owner
Showing Notification Methods: Text
Lockbox Type: None
Existing 1st Loan: VA; Private
Existing 1st Ln Type: Not Applicable
Existing 1st Ln Trms: Not Applicable
Existing 2nd Loan: Private
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Private
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: VA; FHA; Conventional; 1031 Exchange
Reports/Disclosures: None
Environmental: None
Listing Office: Joseph A Morgan
Last Updated: April - 04 - 2023
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