$685,000
Glendale, AZ 85301
MLS# 5897390
Status: Closed
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Property Description
10.2% projected proforma from this solid C class ten-plex that was just refreshed with new paint in and out, stucco, new doors, light fixtures, some plumbing fixtures, ceiling replaced and roof repairs made, two new gas water heaters, a new a/c unit and rerun electrical throughout! 9 new tenants with 80%+ guaranteed rents, one leases that will finish out this year and can be increased at that point (Oct). This property has individually metered electric, although the landlord pays all utilities (except 1 existing lease). Security cameras convey with the property. DRIVE BY ONLY-DO NOT DISTURB TENANTS No sign and No interior showing until we have an accepted purchase contract. Buyer to measure and verify any facts or figures upon acceptance
Details
Maps
Contract Info
Current Price: $685,000
Sold Price: $685,000
Status: Closed
List Date: 2019-03-16
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: N32
House Number: 6633
Compass: N
Street Name: 58TH
St Suffix: Drive
City/Town Code: Glendale
State/Province: AZ
Zip Code: 85301
Zip4: 3905
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 21 BLOCK 43 GLENDALE BLKS 42-46 MCR 001010
Subdivision: GLENDALE BLKS 42-46
Assessor's Map #: 3
Assessor's Parcel #: 47
Add'l Parcels: Yes
Assessor Number: 146-03-047
Legal: LOT 21 BLOCK 43 GLENDALE BLKS 42-46 MCR 001010
Census Tract: 92900
Tax Municipality: Glendale
Taxes: 3724
Tax Year: 2018
Marketing Name: GLENDALE BLKS
General Property Description
Lot Size Dimensions: 100 x 140
Year Built: 1945
Uncvrd Parking Spcs: 14
Total # of Units: 10
# of Buildings: 2
Zoning: M1
Elementary School: Glendale American School
Jr. High School: Glendale Landmark Middle School
High School: Glendale High School
Elementary School District: Glendale Elementary District
High School District: Glendale Union High School District
Remarks & Misc
Cross Street: 59th Ave. & Glendale Ave.
Geo Lat: 33.534422
Geo Lon: -112.184633
Status Change Info
Status Change Date: 2019-06-08
Off Market Date: 2019-06-08
Under Contract Date: 2019-05-21
Close of Escrow Date: 2019-06-07
Sold Price: $685,000
Legal Info
Township: 2N
Range: 2E
Section: 8
Block: 43
Lot Number: 21
Income & Expenses
Annual Elec Exp: 15600
Annual Ins Exp: 1500
Annual Landscape Exp: 300
Annual Maint Exp: 1000
Owner Association: No
Annual Rplcmnt Rsrvs: 1000
Operating Exp: 23124
Gross Annual Sch Inc: 107332
Vacancy Allowance: 0.04
Adjusted Gross Inc: 103038.72
Totl Mnth Rntal Inc: 8943
Net Operating Income: 71631
Pmt & Rate Info
Cap Rate: 10.23
Equity: 700000
Efficiency Units
# Efficiency Units: 1
Avg Rent: 727.28
Avg SqFt: 350
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 7
Avg Rent: 862.25
Avg SqFt: 500
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 1089.92
Avg SqFt: 700
# Baths: 1
Sold Info
Loan Type: Cash
Payment Type: Other
Closing Cost Split: Seller Paid - S
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: 5 - 12 Units
Construction: Block; Frame - Wood
Const - Finish: Painted; Stucco
Roofing: Comp Shingle
Floors: Ceramic Tile
Sale Includes: Land & Building; Personal Property
Community Amenities: No Pool
Exterior Amenities: Desert Landscaping; Fenced; Cable TV Available; Patio/Balcony; Security Light(s)
Interior Amenities: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds
Appliances Included: F/S Oven/Range; Refrigerator
Heating: Natural Gas; Individual
Cooling: Ceiling Fan(s); Electric; Individual; Central A/C
Water: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: SW Gas
Parking: Street Parking; >1 Space Per Unit; Free; Paved Parking
Roads/Streets: Asphalt; Private Street
Owner Pays: Water; Electric; Gas; Trash Collection; Landscaping
Tenant Pays: Cable TV
Source of Fincl Data: Provided by Owner; Projected Proforma; Books Shwn Accpt Ofr
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: Other (See Remarks)
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional
Reports/Disclosures: None
Environmental: None
Listing Office: Tru Realty
Last Updated: January - 03 - 2023
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