NOT LISTED FOR SALE

1018 E Polk St Phoenix, AZ 85006

Garfield Neighborhood

Estimated Value: $599,000 - $977,000

-- Bed
5 Baths
3,850 Sq Ft
$201/Sq Ft Est. Value

Last Sold November 15, 2018

Last sale price $352,000 $91 Per Sq Ft

Est. 119% increase in value since last sale

Current estimated payment $4,350/month

13 Days on Market

Highlights

  • Wood Flooring
  • Multiple cooling system units
  • Multiple Heating Units
  • Phoenix Coding Academy Rated A
  • Ceiling Fan
  • 3-minute walk to Verde Park

About This Home

As of November 2018

EXCELLENT CASH FLOWING OPPORTUNITY FOR INVESTORS within the booming Garfield Historic District! Property has a great CAP rate, even though existing rents are well below market rates in this Prime hot location in the heart of this vibrant community. Buy and hold for future development (vacant lot next door), owner occupy, or raise all existing rents for a great ROI. Easy access to all the downtown buzz with views of the central skyline from property. Walk up the street to Welcome Diner, Gallo Blanco and other hip local shops. This unique multiple dwelling property consists of a large 3 bedroom/2 bath home on the rear of property and a Triplex two story building on front of property with private parking lot. All units have individual meters. Home in the rear of property is on a 6-month lease and the two 1 bedroom/1 bath units are on month to month leases. The second floor 2 bedroom/1 bath unit is currently vacant, on lockbox and easy to show. Interior inspection of home & other units will be available during inspection period of an accepted Purchase Contract. Property is being sold in "As-Is" condition! Buyer to verify all material facts and figures that they deem are important. Minutes from Sky Harbor Airport via I-10/51, Downtown Phoenix, City Parks, Phoenix Children's Museum, Chase Field, Phoenix Convention Center, ASU, UofA, Arizona Science Center, Talking Stick Arena, Arizona Center, Banner & St Luke Hospitals, Roosevelt Art District, Edison Park, Light Rail, Restaurants, Shopping and all other major transit routes.

Last Agent to Sell the Property

Nicolas Capaz

Monte Vista Realty License #BR583519000 Listed on: 08/12/2018

Co-Listed By

Dean McAdams

Monte Vista Realty License #BR521803000

Last Buyer's Agent

Orlando Correa

HomeSmart License #SA111006000

HomeSmart

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,658

Year Built

  • Built in 1960

Lot Details

  • 6,882

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Block Exterior
  • Siding

Interior Spaces

  • Ceiling Fan

Flooring

  • Wood
  • Carpet
  • Ceramic Tile

Parking

  • 6 Open Parking Spaces
  • 6 Parking Spaces
  • Paved Parking
  • On-Street Parking

Schools

  • Faith North Elementary School
  • North High School

Utilities

  • Multiple cooling system units
  • Central Air
  • Multiple Heating Units
  • Heating System Uses Natural Gas
  • Master Water Meter

Listing and Financial Details

  • Tenant pays for gas, electricity, cable TV
  • The owner pays for trash collection, water, sewer, landscaping
  • Legal Lot and Block 5 / 2
  • Assessor Parcel Number 116-26-022

Community Details

Overview

  • 2 Buildings
  • 4 Units
  • Building Dimensions are 6875
  • Mt Pleasant Tract Blks 1, 6 Subdivision

Building Details

  • Operating Expense $4,483
  • Gross Income $27,930
  • Net Operating Income $27,930

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,658

Year Built

Built in 1960

Lot Details

0

Listing Details

  • Cross Street: N 10th Street and E Polk Street
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: MFR
  • Number Of Buildings: 2
  • Ownership: Fee Simple
  • Year Built: 1960
  • Tax Year: 2017
  • Directions: Head South on 10th Street and then East on Polk Street to property
  • Road Surface Type: Asphalt
  • Co List Office Mls Id: movr01
  • Co List Office Phone: 602-791-6011
  • Subdivision Name: MT PLEASANT TRACT BLKS 1, 6
  • Cooling:Ceiling Fan(s): Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

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

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Siding, Painted, Block, Frame - Wood
  • Roof: Composition
  • Construction:Frame - Wood: Yes
  • Construction:Block: Yes

Garage/Parking

  • Parking Features: Paved Parking, >1 Space Per Unit, Street Parking
  • Attached Garage: No
  • Open Parking Spaces: 6.0
  • Total Parking Spaces: 6.0
  • General Property Description:Uncvrd Parking Spcs: 6.0
  • General Property Description:Total Parking Spcs: 6.0
  • Parking:Street Parking: Yes
  • Parking:_greater_1 Space Per Unit: Yes
  • Parking:Paved Parking: Yes

Utilities

  • Electric: APS, Individual Meter
  • Cooling: Ceiling Fan(s), Individual, Central A/C, 2 or More Units
  • Heating: 2 or More Units, Electric, Natural Gas
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Master Meter
  • Heating:Natural Gas: Yes
  • Heating:Electric: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Fenced3: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Desert Landscaping: Yes

Fee Information

  • Annual Water Sewer Expense: 1500.0

Schools

  • Elementary School: Faith North Elementary School
  • High School: North High School
  • Junior High Dist: Phoenix Union High School District
  • Middle Or Junior School: Faith North Elementary School

Lot Info

  • Lot Size: 6875
  • Additional Parcels: No
  • Parcel #: 116-26-022

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Gas, Electricity, Cable TV
  • Number Of Units Total: 4
  • Annual Gross Income: 27930.0
  • Insurance Expense: 464.68
  • Maintenance Expense: 500.0
  • Property Net Operating Income: 27930.0
  • Annual Operating Expense: 4482.68
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 1658.0
  • Tax Block: 2
  • Tax Book Number: 116.00
  • Tax Lot: 5

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 12, 2018
Closed on
Sep 21, 2018
Sold by
Polk 1018 L L C
Bought by
Garcia Jesus A
Seller's Agent
Nicolas Capaz
Monte Vista Realty
Buyer's Agent
Orlando Correa
HomeSmart
List Price
$350,000
Sold Price
$352,000
Premium/Discount to List
$2,000
0.57%
Current Estimated Value
$772,293

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$420,293
Avg. Annual Appreciation
11.64%
Original Mortgage
$345,624
Interest Rate
5.75%
Mortgage Type
FHA

Purchase Details

Closed on
Jan 14, 2003
Sold by
Radvick Stephen T and Zugor Barbara A
Bought by
Polk 1018 Llc

Purchase Details

Closed on
Mar 2, 1995
Sold by
Leon Eleodoro and Leon Jo Marie
Bought by
Radvick Stephen T and Zugor Barbara Ann
Source: Public Records

Range of Values:

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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Garcia Jesus A $375,000 First Arizona Title Agency L
Polk 1018 Llc -- --
Radvick Stephen T $20,000 Old Republic Title Company
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Garcia Jesus A $338,065
Previous Owner Garcia Jesus A $345,624
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/15/2018 11/15/18 Sold $352,000 +0.6% $91 / Sq Ft
08/25/2018 08/25/18 Pending -- -- --
08/12/2018 08/12/18 For Sale $350,000 -- $91 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $1,805 $13,495 -- --
2024 $1,787 $12,852 -- --
2023 $1,787 $61,970 $12,390 $49,580
2022 $1,724 $42,270 $8,450 $33,820
2021 $1,711 $34,120 $6,820 $27,300
2020 $1,730 $28,450 $5,690 $22,760
2019 $1,728 $22,410 $4,480 $17,930
2018 $1,698 $20,520 $4,100 $16,420
2017 $1,659 $18,470 $3,690 $14,780
2016 $1,611 $14,130 $2,820 $11,310
2015 $1,491 $12,060 $2,410 $9,650
Source: Public Records

Agents Affiliated with this Home

  • Nicolas Capaz

    Seller's Agent in 2018

    Nicolas Capaz

    Monte Vista Realty

    (602) 791-6011

    10 Total Sales

    Nicolas Capaz
    Section Image

  • D

    Seller Co-Listing Agent in 2018

    Dean McAdams

    Monte Vista Realty

    Section Image

  • O

    Buyer's Agent in 2018

    Orlando Correa

    HomeSmart

    (602) 688-0230

    36 Total Sales

    Orlando Correa
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5806044

Arizona Regional Multiple Listing Service (ARMLS)

APN: 116-26-022

Arizona Maricopa County Phoenix 85006 Garfield

1018 E Polk St, Phoenix, AZ

This home is located at 1018 E Polk St, Phoenix, AZ 85006 since 12 August 2018 and is currently estimated at $772,293, approximately $200 per square foot. This property was built in 1960. 1018 E Polk St is a home located in Maricopa County with nearby schools including Garfield School, North High School, and Phoenix Coding Academy.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Arizona Regional Multiple Listing Service (ARMLS) All information should be verified by the recipient and none is guaranteed as accurate by ARMLS

Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393

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