$1,220,000
Glendale, AZ 85301
MLS# 6149239
Status: Closed
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Property Description
Glenwest Apartments offers a classic garden-style 10-unit apartment home community that was updated in 2020 to attract the young professional. Glenwest is located along Grand and 61st Avenue and is just minutes from community hubs, such as, State Farm Stadium, Grand Canyon University, Westgate Entertainment District and Abrazo Central Campus as well as walking distance to Lawrence Park and Downtown Glendale. Glenwest Apartment Homes provides an investor a remarkable opportunity for immediate value along with considerable upside potential.
Details
Maps
Contract Info
Current Price: $1,220,000
Sold Price: $1,220,000
Status: Closed
List Date: 2020-10-20
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: N32
House Number: 6727
Compass: N
Street Name: 61ST
St Suffix: Avenue
City/Town Code: Glendale
State/Province: AZ
Zip Code: 85301
Zip4: 3100
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 19 BLOCK 40 ORCHARD ADD BLK 20-21-22, & 38-39-40 AMD MCR 000336
Subdivision: ORCHARD ADD BLK 20-21-22, & 38-39-40 AMD
Assessor's Map #: 10
Assessor's Parcel #: 156
Assessor Parcel Ltr: A
Add'l Parcels: No
Assessor Number: 144-10-156-A
Legal: LOT 19 BLOCK 40 ORCHARD ADD BLK 20-21-22, & 38-39-40 AMD MCR 000336
Census Tract: 92801
Tax Municipality: Glendale
Taxes: 3230
Tax Year: 2020
Marketing Name: Glenwest Palms Apartments
General Property Description
Lot Size Dimensions: 17,955
Year Built: 1966
Uncvrd Parking Spcs: 10
Total # of Units: 10
# of Buildings: 2
Zoning: M-M
Elementary School District: Glendale Elementary District
High School District: Glendale Union High School District
Remarks & Misc
Cross Street: 61st ave & Glendale Ave
Geo Lat: 33.536037
Geo Lon: -112.190213
Status Change Info
Status Change Date: 2020-12-22
Off Market Date: 2020-11-06
Under Contract Date: 2020-11-06
Close of Escrow Date: 2020-12-21
Sold Price: $1,220,000
Legal Info
Township: 2N
Range: 2E
Section: 7
Block: 40
Lot Number: 19
Income & Expenses
Owner Association: No
Operating Exp: 3230
Gross Annual Sch Inc: 115500
Vacancy Allowance: 0.05
Adjusted Gross Inc: 109725
Net Operating Income: 78911
Pmt & Rate Info
Cap Rate: 6.12
Equity: 1290000
1 Bedroom Units
# 1 Bedroom Units: 1
Avg Rent: 850
Avg SqFt: 620
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 9
Avg Rent: 975
Avg SqFt: 800
# Baths: 1
Sold Info
Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: 5 - 12 Units
Construction: Block
Const - Finish: Painted
Roofing: Other (See Remarks)
Floors: Vinyl
Sale Includes: Land & Building
Community Amenities: Play Area; Barbecue
Appliances Included: F/S Oven/Range; Refrigerator; Washer/Dryer
Heating: Individual; Central; Heat Pump
Cooling: Ceiling Fan(s); Heat Pump; Individual; Central A/C
Water: Individual Meter
Sewer: Sewer - Public
Electric: SRP; Individual Meter
Gas: SW Gas; Individual Meter
Parking: 1 Space/Unit; Add'l Parking Avail; Paved Parking
Roads/Streets: Asphalt
Owner Pays: Water; Gas
Tenant Pays: Water; Sewer; Trash
Source of Fincl Data: Provided by Owner
Showing Notification Methods: Phone Call
New Financing: Conventional; 1031 Exchange
Reports/Disclosures: None
Environmental: None
Listing Office: Taylor Street Realty Services
Last Updated: January - 15 - 2021
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