$725,000
4110 N 22ND Street
Phoenix, AZ 85016
MLS# 5857638
Status: Closed

4110 N 22ND Street, Phoenix, AZ 85016
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Property Description
Fully occupied at a 6.35% cap rate (see documents tab for income and expense pro-forma using the current/actual rents)! This purchase consists of a historic single-family residence plus an adjacent in-line four-plex all on the same 17,971 SF R-3 zoned lot in a highly desirable neighborhood. The interiors and exteriors are in great condition and the curb appeal is excellent. The single-family residence features fresh paint, new tub and shower surround, a combination of original wood flooring plus new tile in the kitchen, bath, and laundry room areas. The kitchen is like new with its LED lighting, granite counters, and finished cabinets. The interior laundry room includes new tile and paint and the washer and dryer are included.

Details
Maps
Contract Info
Current Price: $725,000
Sold Price: $725,000
Status: Closed
List Date: 2018-12-14
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: P35
House Number: 4110
Compass: N
Street Name: 22ND
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85016
Zip4: 6147
Country: USA
County Code: Maricopa
Legal Description (Abbrev): EAST MORNINGSIDE MCR 17/9 LOT 9 EX W 124F & E 22F N 55.5F OF W 124F
Subdivision: EAST MORNINGSIDE
Assessor's Map #: 32
Assessor's Parcel #: 9
Assessor Parcel Ltr: A
Add'l Parcels: No
Assessor Number: 163-32-009-A
Legal: Lot 9, Block 1, East Morningside, Book 17, Page 9
Census Tract: 108502
Tax Municipality: Phoenix
Taxes: 2825.42
Tax Year: 2018
Marketing Name: None
General Property Description
Lot Size Dimensions: Irregular
Year Built: 1961
Uncvrd Parking Spcs: 2
Total # of Units: 5
# of Buildings: 2
Zoning: R-3
Elementary School District: Madison Elementary District
High School District: Phoenix Union High School District
Remarks & Misc
Cross Street: Indian School and 22nd Street
Directions: From the 51 Freeway, head east on Indian School Road, north on 22nd Street, Property will be on the west side of the road (adobe looking house).
Geo Lat: 33.495721
Geo Lon: -112.034939
Status Change Info
Status Change Date: 2019-06-28
Off Market Date: 2019-06-28
Under Contract Date: 2019-04-25
Close of Escrow Date: 2019-06-27
Sold Price: $725,000
Legal Info
Township: 2N
Range: 3E
Section: 22
Block: 1
Lot Number: 9
Income & Expenses
Owner Association: No
Operating Exp: 2825.42
Pmt & Rate Info
Down Payment: 785000
Down Payment %: 100
Equity: 780000
Efficiency Units
# Efficiency Units: 1
Avg Rent: 1275
Avg SqFt: 853
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 3
Avg Rent: 895
Avg SqFt: 675
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 1100
Avg SqFt: 805
# Baths: 1
Sold Info
Loan Type: Cash
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: %
Seller Concession to Buyer: 4000
Seller Concession $/%: $
Property Features
Project Type: 5 - 12 Units
Other Type: House + Rental Units
Construction: Block; Frame - Wood; Brick; Adobe
Const - Finish: Painted; Stucco; Brick Trim/Veneer
Roofing: Comp Shingle; Built-Up; Tile
Floors: Wood; Ceramic Tile; Carpet
Sale Includes: Land & Building
Community Amenities: No Pool; Barbecue
Exterior Amenities: Landscape Wtr System; Green Landscaping; Fenced; Partially Fenced; Cable TV Available; Patio/Balcony; Separate Storage; Security Light(s)
Interior Amenities: Unfurnished; Fire/Smoke Alarm(s); Vertical Blinds
Appliances Included: F/S Oven/Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer; W/D Hookup
Heating: Individual; Heat Pump
Cooling: Ceiling Fan(s); Individual
Water: City Franchise
Sewer: Sewer - Public
Electric: APS; Individual Meter
Gas: SW Gas; Other (See Remarks)
Parking: Carport; Street Parking; Free; Paved Parking
Roads/Streets: Asphalt; Concrete; Curb(s) & Gutter(s); Alley
Owner Pays: Landscaping
Tenant Pays: Water; Sewer; Electric; Gas; Trash; Cable TV
Source of Fincl Data: Provided by Owner; Projected Proforma
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; 1031 Exchange
Reports/Disclosures: None
Environmental: None
Supplements
The one-story brick four-plex includes one 2 bed/1 bath and three 1 bed/1 bath units. Features include covered parking, on-site laundry, a patio, and separate meter for gas & electricity. These units are in excellent condition with new tile, new cabinets, new granite countertops, new tubs with tiled shower surrounds, and new appliances (refrigerator, dishwasher, microwave, oven, and disposal). Each unit contains the modern Nest Learning Thermostat, LED ceiling fans, and LED lights throughout. There are four brand new exterior water heaters and an on-site storage room. The laundry room is available for tenants and is added monthly income for the owner. Brand new A/C units on the single-family house, Unit 1, and Unit 2 as of 4Q2018. Unit 3 had a new compressor installed in 2017. The property is 4 minutes to Town & Country shopping district and the Camelback Road/Biltmore area.

Listing Office: Western Property Advisors, LLC

Last Updated: May - 01 - 2020

4110 N 22ND Street, Phoenix, AZ 85016 - MLS# 5857638
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.

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Broker Attribution: westernpropertyadvisors@gmail.com
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