$958,915
Phoenix, AZ 85040
MLS# 6185550
Status: Closed
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Property Description
Centrally located in South Phoenix's Ever Growing and Revitalized Neighborhood. A Spectacular opportunity to invest in this lucrative and one of kind 10 unit property. 8 1bd/1bth and 2 studios. Multiple upgrades from the inside out. New plumbing, new electrical, fresh interior and exterior paint, new roof, remodeled bathrooms and much more! Rents are below market, giving you ample room to grow. Tenants Rights. Please do not disturb tenants. Property is being sold As-Is.
Details
Maps
Contract Info
Current Price: $958,915
Sold Price: $958,915
Status: Closed
List Date: 2021-01-25
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: R35
House Number: 4607
Compass: S
Street Name: 16TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85040
Zip4: 2352
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 1 CHIEF JACKSON MCR 006246
Subdivision: CHIEF JACKSON
Assessor's Map #: 40
Assessor's Parcel #: 14
Assessor Parcel Ltr: A
Add'l Parcels: No
Assessor Number: 122-40-014-A
Legal: CHIEF JACKSON MCR 62-46 Lot 1 & W2 ABAND ALLEY LY E OF & ADJ TO SD LOT 1
Census Tract: 116000
Tax Municipality: Phoenix
Taxes: 3042
Tax Year: 2020
Marketing Name: CHIEF JACKSON
General Property Description
Lot Size Dimensions: 12261
Year Built: 1963
Uncvrd Parking Spcs: 10
Total # of Units: 10
# of Buildings: 2
Zoning: R-5
Elementary School District: Roosevelt Elementary District
High School District: Phoenix Union High School District
Remarks & Misc
Cross Street: Broadway and 16th St
Directions: From I-10 EXIT University / 32nd st ; head south on 32nd St; West on Broadway; South on 16th st. Property is on the left hand side.
Geo Lat: 33.404536
Geo Lon: -112.04678
Status Change Info
Status Change Date: 2021-03-19
Off Market Date: 2021-03-03
Under Contract Date: 2021-03-03
Close of Escrow Date: 2021-03-18
Sold Price: $958,915
Legal Info
Township: 1N
Range: 3E
Section: 27
Lot Number: 1
Income & Expenses
Annual Elec Exp: 458.8
Annual Ins Exp: 2927.04
Annual Maint Exp: 3569.82
Annual Trash Exp: 3435.16
Annual Wtr/Swr Exp: 4322.21
Owner Association: No
Operating Exp: 17755.03
Gross Annual Sch Inc: 86700
Vacancy Allowance: 0.05
Adjusted Gross Inc: 82365
Net Operating Income: 64953.97
Pmt & Rate Info
Cap Rate: 5.9
Down Payment %: 25
Monthly Payments: 3581
Equity: 1100000
Efficiency Units
# Efficiency Units: 2
Avg Rent: 662
Avg SqFt: 450
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 8
Avg Rent: 737.5
Avg SqFt: 550
# Baths: 1
Sold Info
Loan Type: Cash
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: 5 - 12 Units
Construction: Block
Const - Finish: Painted
Roofing: Comp Shingle
Floors: Ceramic Tile; Other
Sale Includes: Land & Building; Personal Property
Payment Includes: Principal; Taxes; Insurance
Community Amenities: No Pool
Exterior Amenities: Desert Landscaping; Fenced; Security Light(s)
Appliances Included: F/S Oven/Range; Refrigerator
Heating: Central
Cooling: Central A/C
Water: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking: 1 Space/Unit
Roads/Streets: Asphalt
Owner Pays: Water; Electric; Trash Collection; Landscaping; See Remarks
Tenant Pays: Electric; Cable TV
Source of Fincl Data: Provided by Owner
Special: Owner/Agent
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
New Financing: Conventional
Reports/Disclosures: Seller Prop Disc Stm
Environmental: None
Listing Office: Liz Harris Realty
Last Updated: September - 18 - 2023
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
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