$1,050,000
Phoenix, AZ 85014
MLS# 6670257
1 / 4
Property Description
Advantageously placed just north of the 7th Street and Bethany Home Road intersection and immediately across the street from Madison Traditional Academy, Rose Lane is primely located in the heart of the historic neighborhoods of North Central Phoenix (Uptown). Its nearby proximity to one of The Valley's major transportation arteries, State Route 51, affords residents direct access to simple passage to nearly any destination across The Valley. Some of those nearby destinations include a number of the most prominent employment and entertainment corridors in the state. Primely positioned near the Innovation Employment Corridor, which runs down Central Avenue, presents employment opportunities from some of the most prolific companies in Arizona such as Banner Health and IBM.
Details
Maps
Contract Info
Current Price: $1,050,000
List Price: $1,050,000
Status: Active
List Date: 2024-02-27
Ownership: Fee Simple
Subagents: N
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
House Number: 822
Compass: E
Street Name: Rose
St Suffix: Lane
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85014
Country: USA
County Code: Maricopa
Assessor's Map #: 15
Assessor's Parcel #: 68
Assessor Parcel Ltr: G
Add'l Parcels: No
Assessor Number: 161-15-068-G
Legal: ROSE LANE PARK TR A S 118.75' OF W 107' OF E 191'
Tax Municipality: Phoenix
Taxes: 2371
Tax Year: 2023
Marketing Name: Rose Lane
General Property Description
Lot Size Dimensions: 0.29
Year Built: 1960
Uncvrd Parking Spcs: 4
Total # of Units: 4
# of Buildings: 1
Zoning: R-3
Elementary School District: Madison Elementary District
High School District: Phoenix Union High School District
Remarks & Misc
Geo Lat: 33.527599
Geo Lon: -112.062322
Status Change Info
Status Change Date: 2024-02-29
Legal Info
Lot Number: -
Income & Expenses
Annual Elec Exp: 6389
Annual Ins Exp: 2000
Annual Landscape Exp: 948
Annual Legal & Acctg: 1000
Annual Maint Exp: 2500
Annual Mgmt Exp: 3269
Owner Association: No
Annual Rplcmnt Rsrvs: 1500
Annual Other Expense: 1750
Operating Exp: 21727
Gross Annual Sch Inc: 86945
Vacancy Allowance: 0.06
Adjusted Gross Inc: 81728.3
Net Operating Income: 59330
Pmt & Rate Info
Cap Rate: 5.65
Equity: 1050000
Showing Notification Methods
Showing Service: Aligned Showings
1 Bedroom Units
# 1 Bedroom Units: 4
Avg Rent: 1216
Avg SqFt: 665
# Baths: 4
Property Features
Project Type: 5 - 12 Units
Construction: Block; Frame - Wood
Const - Finish: Painted; Stucco
Roofing: Comp Shingle
Floors: Vinyl; Ceramic Tile
Sale Includes: Land & Building
Community Amenities: No Pool
Exterior Amenities: Green Landscaping; Desert Landscaping
Interior Amenities: Unfurnished
Appliances Included: F/S Oven/Range; Refrigerator; Dishwasher; Microwave
Heating: Individual
Cooling: Ceiling Fan(s); Electric; Individual
Water: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking: Carport; Street Parking; >1 Space Per Unit; Add'l Parking Avail
Roads/Streets: Asphalt; Sidewalk(s)
Owner Pays: Water; Gas; Trash Collection; Landscaping
Tenant Pays: Electric
Source of Fincl Data: Provided by Owner
Showing Notification Methods: Text
Lockbox Type: None
New Financing: Conventional; 1031 Exchange
Reports/Disclosures: None
Environmental: None
Supplements
Additionally, the Biltmore Employment Corridor where names such as Cisco and Charles Schwab are stationed, also offers numerous dining and entertainment amenities. Together, the Innovation and Biltmore Corridors showcase over ±117,000 employees and ±3,300 employers.
Built in 1960, Rose Lane is comprised of 4 units with the entire community's exterior upgraded. Future ownership will have the enticing opportunity to capitalize on 100% of the units primed for an elevated upgrade package resulting in an expected premium of ±$200 per month already proven in the immediate submarket.
Listing Office: Marcus & Millichap
Last Updated: March - 04 - 2024
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
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