$863,938
SOLD MAY 31, 2016
-- Bed
-- Bath
1,250 Sq Ft
0.41 Acres

Recently Sold

$691 Per Sq Ft

9% Below List Price

38 Days on Market

Highlights

  • Wood Flooring
  • Phoenix Coding Academy Rated A
  • Central Heating and Cooling System

About This Home

As of May 2016

Unique Central Phoenix complex of 4 freshly painted cottages plus a tri-plex in the downtown Coronado Historic District. Beautifully landscaped courtyard with citrus trees, palm trees and flowering plants. Cottages have front porches, wood floors and 2 have private covered patios. Meticulously maintained by longtime owners. All buildings were repainted this year as well as the foam roofs recoated. Consistently 100% Occupied and rents are increasing dramatically in this historic downtown neighborhood. Could also be an ideal place for Airbnb and VRBO vacation rentals with the private cottages.(Tri-plex of additonal cottages can also be available to purchase).

Last Agent to Sell the Property

Clyde Granderson

HomeSmart License #SA636150000 Listed on: 04/14/2016

HomeSmart

Last Buyer's Agent

Ryan House

Ryan E House License #BR623735000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,904

Year Built

  • Built in 1960

Lot Details

  • Property fronts an alley

Home Design

  • Brick Exterior Construction
  • Wood Frame Construction
  • Composition Roof
  • Foam Roof
  • Stucco

Flooring

  • Wood
  • Carpet
  • Ceramic Tile
  • Vinyl

Parking

  • 4 Open Parking Spaces
  • 9 Parking Spaces
  • 5 Covered Spaces
  • Common or Shared Parking
  • On-Street Parking
  • Assigned Parking

Schools

  • Emerson Elementary School
  • North High School

Utilities

  • Central Heating and Cooling System
  • Heating System Uses Natural Gas
  • Heat Pump System

Listing and Financial Details

  • Tenant pays for gas, electricity
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 5
  • Assessor Parcel Number 117-25-108-A

Community Details

Overview

  • 5 Buildings
  • 7 Units
  • Building Dimensions are 18,209
  • Homewood Tract Subdivision

Building Details

  • Operating Expense $14,843
  • Gross Income $78,863
  • Net Operating Income $62,684

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,904

Year Built

Built in 1960

Lot Details

0

Listing Details

  • Cross Street: 7th Street & Palm Lane
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 5
  • Ownership: Fee Simple
  • Year Built: 1960
  • Tax Year: 2015
  • Directions: East from 7th Street on Palm LN to 10th Street and Palm LN
  • Road Frontage Type: Alley
  • Road Surface Type: Asphalt, Curb(s) & Gutter(s)
  • Subdivision Name: Homewood Tract
  • Tax Parcel Letter: A
  • Construction Brick: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Ceramic Tile, Vinyl, Wood
  • Appliances: F/S Oven/Range
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Painted, Stucco, Brick, Frame - Wood
  • Roof: Composition, Foam
  • Construction:Frame - Wood: Yes

Garage/Parking

  • Total Covered Spaces: 5.0
  • Parking Features: Assigned, 1 Space/Unit, Street Parking, Common
  • Attached Garage: No
  • Open Parking Spaces: 4.0
  • Total Parking Spaces: 9.0
  • General Property Description:Covered Parking Spcs: 5.0
  • General Property Description:Uncvrd Parking Spcs: 4.0
  • General Property Description:Total Parking Spcs: 9.0
  • Parking:Carport: Yes
  • Parking:Street Parking: Yes
  • Parking:Assigned: Yes

Utilities

  • Electric: APS, Individual Meter
  • Cooling: Central A/C
  • Heating: Central, Heat Pump, Electric, Natural Gas
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Natural Gas: Yes
  • Heating:Electric: Yes
  • Heating:Heat Pump2: Yes
  • Heating:Central: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Landscape Wtr System: Yes
  • Exterior Amenities:Green Landscaping: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Exterior Amenities:PatioBalcony: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Interior Amenities:Security Alarm(s): Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Partially Fenced: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Unfurnished: Yes

Fee Information

  • Annual Water Sewer Expense: 3500.0

Schools

  • Elementary School: Emerson Elementary School
  • High School: North High School
  • Junior High Dist: Phoenix Union High School District

Lot Info

  • Lot Size: 18,209
  • Additional Parcels: No
  • Parcel #: 117-25-108-A

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Gas, Electricity
  • Number Of Units Total: 7
  • Electric Expense: 842.0
  • Annual Gross Income: 78863.4
  • Insurance Expense: 2605.0
  • Maintenance Expense: 2000.0
  • Property Net Operating Income: 62684.0
  • Annual Operating Expense: 14843.0
  • Vacancy Allowance Rate: 0.01

Tax Info

  • Tax Annual Amount: 3904.0
  • Tax Book Number: 117.00
  • Tax Lot: 5

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/26/2018 02/26/18 Rented $1,100 0.0% --
02/07/2018 02/07/18 Price Changed $1,100 +37.5% $1 / Sq Ft
01/26/2018 01/26/18 Rented $800 -28.9% --
01/23/2018 01/23/18 Price Changed $1,125 -2.2% $1 / Sq Ft
01/03/2018 01/03/18 Price Changed $1,150 +43.8% $1 / Sq Ft
01/03/2018 01/03/18 Price Changed $800 -1.2% $1 / Sq Ft
12/18/2017 12/18/17 Price Changed $810 -0.6% $1 / Sq Ft
11/22/2017 11/22/17 For Rent $815 -32.1% --
10/16/2017 10/16/17 For Rent $1,200 +33.3% --
08/09/2017 08/09/17 Rented $900 +2.9% --
07/28/2017 07/28/17 Under Contract -- -- --
07/20/2017 07/20/17 Price Changed $875 -2.8% $1 / Sq Ft
07/13/2017 07/13/17 For Rent $900 -10.0% --
01/12/2017 01/12/17 Rented $1,000 0.0% --
01/12/2017 01/12/17 Under Contract -- -- --
01/04/2017 01/04/17 Price Changed $1,000 -4.8% $1 / Sq Ft
12/22/2016 12/22/16 Price Changed $1,050 -4.5% $1 / Sq Ft
12/19/2016 12/19/16 Price Changed $1,100 +35.0% $1 / Sq Ft
12/14/2016 12/14/16 Rented $815 0.0% --
11/29/2016 11/29/16 Under Contract -- -- --
11/02/2016 11/02/16 Price Changed $815 -1.2% $1 / Sq Ft
10/28/2016 10/28/16 Price Changed $825 -26.7% $1 / Sq Ft
10/28/2016 10/28/16 Price Changed $1,125 -2.2% $1 / Sq Ft
10/13/2016 10/13/16 Price Changed $1,150 -4.2% $1 / Sq Ft
09/30/2016 09/30/16 Price Changed $1,200 +41.2% $2 / Sq Ft
09/30/2016 09/30/16 Price Changed $850 -2.9% $1 / Sq Ft
09/22/2016 09/22/16 Price Changed $875 -30.0% $1 / Sq Ft
09/22/2016 09/22/16 Price Changed $1,250 -3.8% $2 / Sq Ft
09/02/2016 09/02/16 For Rent $1,300 +46.1% --
08/22/2016 08/22/16 Price Changed $890 -1.1% $1 / Sq Ft
07/15/2016 07/15/16 Price Changed $900 -5.3% $1 / Sq Ft
07/11/2016 07/11/16 For Rent $950 0.0% --
05/31/2016 05/31/16 Sold $863,938 -9.1% $691 / Sq Ft
05/22/2016 05/22/16 Pending -- -- --
04/14/2016 04/14/16 For Sale $950,000 -- $760 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5428341

Arizona Regional Multiple Listing Service (ARMLS)