NOT LISTED FOR SALE
112 Beds
-- Baths
2,176 Sq Ft
1964 Built

Sale Details

Date Sold: March 13, 2017

Last sale price $3,750,000 $1,723 Per Sq Ft

12 Days on Market

Highlights

  • Heated Community Pool
  • On-Site Manager or Management
  • Ceramic Tile Flooring
  • Community Playground
  • Community Barbecue Grill
  • 1-minute walk to Fred Campbell Park

About This Home

As of March 2017

DO NOT DISTURB TENANTS - DO NOT WALK PROPERTY.Uniquely situated within Avondale's central corridor, Parkside Palms Apartments offers a selection of 1/1, 2/1 & 3/1 floor plans surrounded by green-scaped courtyards in a very low-density setting. Significant recently completed capital upgrades incl complete roof repair/resurfacing, parking lot resurfacing, exterior repaint, remodelled leasing office and re-plastered code-compliant swimming pool. Plus, 65% of the units have had cabinets, counters, vanities, tiled tub and shower surrounds, 6-panel doors, tile flooring, appliances & fixtures replaced during 2015-2016. Ownership has significantly upgraded property to result in steady rent growth now at the $1.00/SF mark.

Last Agent to Sell the Property

Scott Trevey

REI Marketing License #SA539099000 Listed on: 12/27/2016

Last Buyer's Agent

Doug Groppenbacher, CCIM

AZRC Realty, LLC License #BR005471000

Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,898

Year Built

  • Built in 1964

Home Design

  • Brick Exterior Construction
  • Built-Up Roof
  • Block Exterior

Flooring

  • Carpet
  • Ceramic Tile

Parking

  • 122 Open Parking Spaces
  • 122 Parking Spaces
  • Paved Parking

Lot Details

  • Additional Parcels

Utilities

  • Cooling Available
  • Heat Pump System

Listing and Financial Details

  • Tenant pays for gas, electricity, cable TV
  • The owner pays for trash collection, water, sewer, landscaping, pool/spa maintenance
  • Tax Lot A
  • Assessor Parcel Number 500-18-037

Community Details

Overview

  • 24 Buildings
  • 54 Units
  • Building Dimensions are irreg
  • Dieci Estates Subdivision

Recreation

  • Community Playground
  • Heated Community Pool

Building Details

  • Operating Expense $176,294
  • Gross Income $497,360
  • Net Operating Income $321,446

Additional Features

  • Community Barbecue Grill
  • On-Site Manager or Management

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,898

Year Built

Built in 1964

Listing Details

  • Cross Street: Central and Brinker
  • Legal Info Range: 1W
  • Property Type: Multiple Dwellings
  • Zoning: M-M, R-3
  • Number Of Buildings: 24
  • Ownership: Fee Simple
  • Year Built: 1964
  • Tax Year: 2015
  • Road Surface Type: Asphalt, Concrete
  • Professional Management Expense: 15809.0
  • Subdivision Name: DIECI ESTATES
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

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

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Brick Veneer, Painted, Block
  • Roof: Built-Up
  • Construction:Block: Yes

Garage/Parking

  • Parking Features: Paved Parking, >1 Space Per Unit
  • Attached Garage: No
  • Open Parking Spaces: 122.0
  • Total Parking Spaces: 122.0
  • General Property Description:Uncvrd Parking Spcs: 122.0
  • General Property Description:Total Parking Spcs: 122.0
  • Parking:_greater_1 Space Per Unit: Yes
  • Parking:Paved Parking: Yes

Utilities

  • Electric: APS
  • Cooling: Electric, Heat Pump
  • Heating: Heat Pump, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes
  • Heating:Heat Pump2: Yes

Condo/Co-op/Association

  • Community Features: Barbecue, Play Area, Manager Res/Office, Pool

Association/Amenities

  • Exterior Amenities:Landscape Wtr System: Yes
  • Exterior Amenities:Green Landscaping: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Exterior Amenities:Security Light(s)3: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Community Amenities:Pool2: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Unfurnished: Yes
  • Community Amenities:Manager ResOffice: Yes
  • Community Amenities:Barbecue: Yes
  • Community Amenities:Play Area: Yes

Fee Information

  • Annual Fuel Expense: 2586.0
  • Trash Expense: 7137.0
  • Annual Water Sewer Expense: 34833.0

Schools

  • Junior High Dist: Agua Fria Union High School District

Lot Info

  • Lot Size: irreg
  • Additional Parcels: Yes
  • Parcel #: 500-18-037

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping, Pool/Spa Maintenance
  • Tenant Pays: Gas, Electricity, Cable TV
  • Number Of Units Total: 54
  • Electric Expense: 9752.0
  • Annual Gross Income: 497360.07
  • Insurance Expense: 8474.0
  • Maintenance Expense: 57074.0
  • Property Net Operating Income: 321446.0
  • Annual Operating Expense: 176294.0
  • Vacancy Allowance Rate: 0.04

Tax Info

  • Tax Annual Amount: 11898.0
  • Tax Book Number: 500.00
  • Tax Lot: A

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 27, 2016
Closed on
Feb 7, 2017
Sold by
Myers Mary E and Myers Robert A
Bought by
Seller's Agent
Scott Trevey
REI Marketing
Buyer's Agent
Doug Groppenbacher, CCIM
AZRC Realty, LLC
List Price
$4,025,000
Sold Price
$3,750,000
Premium/Discount to List
-$275,000
-6.83%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$2,437,500
Interest Rate
4.19%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 25, 2015
Sold by
Hacienda La Paz Llc
Bought by
Myers Family Bypass Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,800,000
Interest Rate
3.71%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 22, 2010
Sold by
First Parkside Holding Company Llc
Bought by
Hacienda La Paz Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$375,000
Interest Rate
4.91%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 20, 2005
Sold by
Parkside Housing Lp
Bought by
Winston David

Purchase Details

Closed on
Nov 14, 1994
Sold by
Lawton Investments Lc
Bought by
Parkside Housing Ltd Partnership and Avondale Housing Ltd Partnership
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Agents Specializing in Old Town, AZ

See All Agents

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$3,750,000 American Title Svc Agency Ll
Myers Family Bypass Trust $2,400,000 American Title Svc Agency Ll
Hacienda La Paz Llc $650,000 American Title Service Agenc
Winston David $1,900,000 Capital Title Agency Inc
Parkside Housing Ltd Partnership $815,000 --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $2,350,000
Closed A Plus Management Ii Llc $2,437,500
Previous Owner Myers Family Bypass Trust $1,800,000
Previous Owner Hacienda La Paz Llc $800,000
Previous Owner Hacienda La Paz Llc $375,000
Previous Owner Winston David L $1,880,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
03/13/2017 03/13/17 Sold $3,750,000 -6.8% $1,723 / Sq Ft
01/08/2017 01/08/17 Pending -- -- --
12/27/2016 12/27/16 For Sale $4,025,000 -- $1,850 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $4,578 $40,690
2024 $4,216 $38,753
2023 $4,216 $192,960 $39,260 $153,700
2022 $4,062 $147,540 $30,020 $117,520
2021 $4,286 $152,360 $31,000 $121,360
2020 $4,153 $96,450 $19,620 $76,830
2019 $4,127 $120,000 $24,000 $96,000
2018 $4,144 $88,000 $17,600 $70,400
2017 $4,042 $59,330 $12,070 $47,260
2016 $4,122 $44,200 $8,990 $35,210
2015 $3,833 $43,020 $8,750 $34,270
Source: Public Records

Agents Affiliated with this Home

  • Section Image
See All Agents

Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5539374

Arizona Regional Multiple Listing Service (ARMLS)
Your Personal Tour Guide

Ask me questions while you tour the home.