$1,150,000
939 E TURNEY Avenue
Phoenix, AZ 85014
MLS# 6213364
Status: Closed



939 E TURNEY Avenue, Phoenix, AZ 85014
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Property Description
Check out this Fantastic Investment Opportunity, Cash flowing 4 PLEX in the prime location of Midtown Phoenix! These are beautiful totally remodeled units inside and out! The furniture is also included in the sale, including utensils! Current owners have averaged a gross of $90,000 income annually for 2020 on 3 units, this year has been approx $102,000 for 2021. More room for income growth with the 4th unit! 2 buildings 4 units total **4th unit needs total reno, make it your own style or duplicate the other units! You can also rent out all of the units long term, AIRBNB, and/or live in the 4th unit! 1-2 more units can be built on the lot! Nearly always occupied! Long term renters are an excellent option as well. Single level and NO HOA! LOW taxes, only $1,456 annual! There are TON o

Details
Maps
Contract Info
Current Price: $1,150,000
Sold Price: $1,150,000
Status: Closed
List Date: 2021-03-27
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: P34
House Number: 939
Compass: E
Street Name: TURNEY
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85014
Zip4: 4137
Country: USA
County Code: Maricopa
Legal Description (Abbrev): CAROLYN PL LOT 47 E 29' & W 27' OF LOT 48
Subdivision: CAROLYN PLACE
Assessor's Map #: 14
Assessor's Parcel #: 15
Add'l Parcels: No
Assessor Number: 155-14-015
Legal: CAROLYN PL LOT 47 E 29' & W 27' OF LOT 48
Census Tract: 108601
Tax Municipality: Maricopa - COUNTY
Taxes: 1456.84
Tax Year: 2021
Marketing Name: Phoenix 4plex for sale!
General Property Description
Lot Size Dimensions: 12,929
Year Built: 1946
Uncvrd Parking Spcs: 6
Total # of Units: 4
# of Buildings: 2
Zoning: R-3
Elementary School: Longview Elementary School
Jr. High School: Montecito Community School
High School: Central High School
Elementary School District: Phoenix Elementary District
High School District: Phoenix Union High School District
Remarks & Misc
Cross Street: 12th street and Campbell
Directions: Go south on 12th street, West on Turney to property.
Geo Lat: 33.499558
Geo Lon: -112.059893
Status Change Info
Status Change Date: 2022-02-28
Off Market Date: 2022-02-28
Under Contract Date: 2022-01-11
Close of Escrow Date: 2022-02-28
Sold Price: $1,150,000
Legal Info
Township: 2N
Range: 3E
Section: 21
Lot Number: 47
Income & Expenses
Annual Elec Exp: 3240
Annual Gas Exp: 720
Annual Ins Exp: 2300
Annual Wtr/Swr Exp: 1800
Owner Association: No
Annual Other Expense: 2000
Operating Exp: 11516.84
Gross Annual Sch Inc: 102000
Adjusted Gross Inc: 102000
Totl Mnth Rntal Inc: 8500
Net Operating Income: 90620
Pmt & Rate Info
Cap Rate: 7.88
Equity: 1150000
1 Bedroom Units
# 1 Bedroom Units: 3
Avg Rent: 11000
Avg SqFt: 550
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 1
Avg SqFt: 900
# Baths: 1
Sold Info
Loan Type: Cash
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession to Buyer: 3000
Seller Concession $/%: $
Property Features
Project Type: Four Plex
Construction: Block; Brick
Const - Finish: Painted
Roofing: Comp Shingle
Floors: Concrete
Sale Includes: Land & Building
Community Amenities: No Pool; Play Area; Barbecue
Exterior Amenities: Desert Landscaping; Fenced; Cable TV Available; Separate Storage
Interior Amenities: Furnished; Fire/Smoke Alarm(s); Security Alarm(s); Breakfast Bar
Appliances Included: F/S Oven/Range; Refrigerator; Disposal; Microwave; W/D Hookup
Heating: Central
Cooling: Ceiling Fan(s); Central A/C
Water: City Franchise; Individual Meter
Sewer: Sewer - Public; Sewer-In & Connected
Electric: APS; Individual Meter
Gas: SW Gas
Parking: Street Parking; 1 Space/Unit; Add'l Parking Avail; Paved Parking
Roads/Streets: Asphalt
Owner Pays: Water; Electric; Gas; Trash Collection; Cable TV
Tenant Pays: None
Source of Fincl Data: Provided by Owner
Lockbox Type: None
Existing 1st Loan: Conventional
Existing 1st Ln Type: Fixed
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; Seller May Carry
Reports/Disclosures: Seller Prop Disc Stm
Environmental: None
Supplements
Billion dollar commercial and residential developments right in the area! Easy access to the light rail, buses and other transit. These are block construction, 3 of them are 1 bedroom 1 bathroom and 4th unit is a 2 bedroom unit with private yards, their own appliances, and each unit has a parking spot, 2 storage units on site, and separate electric meters. Brick accent walls, newer exterior and interior paint gives these units a bright airy feel. The units are approx 550-600 SQ FT each and unit 4 (2 bedrooms) is approx 900 sq ft. Roofs replaced in 2019. Each unit has an HVAC system replaced in 2019. Remodeled interiors in 2019 with concrete stained floors, modern premium concrete and wood block countertops, new doors, white accented kitchen cabinets, gold brushed faucets with matching hardware, white subway tile backsplashes, new modern fixtures/ceiling fans/lighting, and kitchen island with concrete counters and floating shelves. Stainless steel & black appliances in each unit; Gas stove, refrigerator, and microwave. Each unit has a small private backyard perfect for enjoying the cool morning air and sounds of birds. Bathrooms have been upgraded with a new vanity, tubs shower and hardware. All units have blinds and dual pane windows. Unit 4 has laundry hook ups. Can easily plumb for laundry hooks for the other 3 units. All units have concrete path walkways and front door covered awnings. Huge lot with low maintenance desert landscaping for privacy and enjoyment! There is an abundance of shopping, boutique restaurants and fine dining, theatre venues, and nightlife opportunities abound Midtown Phoenix. Very close to downtown Phoenix! There are also retail destinations such as the Camelback Colonnade and Biltmore Fashion Park situated within close proximity. These units are minutes to Phoenix Children's Hospital, Banner University Medical Center Phoenix, St. Joseph's Hospital Medical Center, VA Hospital, Phoenix College, gas stations, easy access to Metro light rail, Sprouts Farmers Market, Starbucks, Safeway, Jamba Juice, Jersey Mike's, Orange Theory Fitness, the popular & swanky Clarendon Hotel, Heard Museum, Phoenix Art Museum, Phoenix Country Club/ 18 Hole Golf Courses and the largest oasis park in Arizona, Encanto Park! North High School and St. Mary's Catholic High school nearby. Minutes drive to Downtown Phoenix, Sky Harbor International Airport, and 51, I-10, 202 loop Freeway access. The BILLION dollar residential/commercial development called Central Park is being built about 5 minutes away! There are plenty of recreational activities at the local parks, as well as the sprawling Phoenix Mountains Preserve just a short drive away. What more can you ask for? Don't miss out, start cash flowing monthly and call for info today!

Listing Office: HomeSmart

Last Updated: October - 05 - 2023

939 E TURNEY Avenue, Phoenix, AZ 85014 - MLS# 6213364
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