$940,000
Phoenix, AZ 85015
MLS# 6096228
Status: Closed
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Property Description
Incredible investment! Well maintained 9 units with private driveways and newer (2016) roof-top A/C units, plus an adjacent 7300 sf lot if new construction is desired. With 8 one bedroom units and 1 two bedroom unit, sitting on nearly 1 acre, tenants have more space to call their own. Features include (depending on the unit) front porch, carport, security screens, separate storage sheds, washer/dryer hookups, refrigerators, and ranges. Also, I have another complex listed with the same owner just down the street on Coolidge.
Details
Maps
Contract Info
Current Price: $940,000
Sold Price: $940,000
Status: Closed
List Date: 2020-06-27
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: N33
House Number: 5130
Compass: N
Street Name: 22ND
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85015
Zip4: 3118
Country: USA
County Code: Maricopa
Legal Description (Abbrev): CAMELBACK GARDENS LOT 5 N 60' BLK 2
Subdivision: CAMELBACK GARDENS
Assessor's Map #: 25
Assessor's Parcel #: 29
Add'l Parcels: Yes
Assessor Number: 153-25-029
Legal: CAMELBACK GARDENS LOT 5 N 60' BLK 2
Census Tract: 107300
Tax Municipality: Phoenix
Taxes: 1670
Tax Year: 2019
Marketing Name: Palm Drive Apartments
General Property Description
Lot Size Dimensions: Unknown
Year Built: 1960
Uncvrd Parking Spcs: 18
Total # of Units: 9
# of Buildings: 5
Zoning: R-3
Elementary School: Westwood Primary School
Jr. High School: R E Simpson School
High School: Alhambra High School
Elementary School District: Alhambra Elementary District
High School District: Phoenix Union High School District
Remarks & Misc
Cross Street: 22nd Ave. and Camelback
Directions: From Camelback, N. on 22nd Ave. to property on left (Palm Drive Apartments)
Geo Lat: 33.512524
Geo Lon: -112.106838
Status Change Info
Status Change Date: 2020-11-13
Off Market Date: 2020-10-26
Under Contract Date: 2020-10-24
Close of Escrow Date: 2020-11-12
Sold Price: $940,000
Legal Info
Township: 2N
Range: 2E
Section: 13
Block: 2
Lot Number: 5
Income & Expenses
Annual Elec Exp: 494
Annual Ins Exp: 3715
Annual Trash Exp: 1586
Annual Wtr/Swr Exp: 3420
Owner Association: No
Operating Exp: 10885
Gross Annual Sch Inc: 48600
Adjusted Gross Inc: 48600
Net Operating Income: 39385
Pmt & Rate Info
Cap Rate: 3.96
Equity: 995000
1 Bedroom Units
# 1 Bedroom Units: 8
Avg Rent: 425
Avg SqFt: 575
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 650
Avg SqFt: 1024
# 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; Stucco
Roofing: Comp Shingle
Floors: Vinyl
Sale Includes: Land & Building
Community Amenities: No Pool
Exterior Amenities: Desert Landscaping; Partially Fenced; Cable TV Available; Pet Restrictions; Separate Storage
Interior Amenities: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds
Appliances Included: F/S Oven/Range; Refrigerator; W/D Hookup
Heating: Individual; Central; Heat Pump
Cooling: Electric; Heat Pump; Individual; Central A/C
Water: City Franchise; Master Meter
Sewer: Sewer - Public; Sewer-In & Connected
Electric: SRP; Individual Meter
Gas: None
Parking: >1 Space Per Unit; Assigned; Free; Paved Parking
Roads/Streets: Asphalt; Sidewalk(s)
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electric; Cable TV
Source of Fincl Data: Provided by Owner
Showing Notification Methods: No Notification Required to Show
Lockbox Type: None
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; No Carry; 1031 Exchange
Reports/Disclosures: Seller Prop Disc Stm
Environmental: None
Listing Office: Realty ONE Group
Last Updated: November - 13 - 2020
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