$500,000
SOLD NOV 1, 2019
-- Bed
-- Bath
2,880 Sq Ft
0.32 Acres

Recently Sold

$174 Per Sq Ft

7% Below List Price

12 Days on Market

Highlights

  • Community Barbecue Grill
  • Central Air
  • Heat Pump System
  • Franklin at Brimhall Elementary School Rated A
  • Ceiling Fan

About This Home

As of November 2019

This property is above average. Stackable Washer and Dryers in each unit along with extra storage rooms for each tenant. Fully occupied-see document tab for rent roll and year to date financials-updated monthly. Room to grow rents. Right down the street appraised for $547K. Do not disturb tenants and NO viewings prior to contract. Buyer to verify all facts and figures.

Last Agent to Sell the Property

Linda Gerchick

Gerchick Real Estate License #BR114848000 Listed on: 09/19/2019

Last Buyer's Agent

Sherman Weekes

Crest Premier Properties License #SA550792000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,535

Year Built

  • Built in 2004

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Stucco

Interior Spaces

  • Ceiling Fan

Parking

  • 8 Parking Spaces
  • 4 Covered Spaces
  • Common or Shared Parking

Schools

  • Whitman Elementary School
  • Westwood High School

Utilities

  • Central Air
  • Heat Pump System
  • Individual Controls for Heating

Listing and Financial Details

  • Tenant pays for cable TV
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 100
  • Assessor Parcel Number 136-23-162-A

Community Details

Overview

  • 4 Units
  • Building Dimensions are 100 x 86.67
  • Pleasant Homes Sub Unit 2 Subdivision

Amenities

  • Community Barbecue Grill

Building Details

  • Operating Expense $7,087
  • Gross Income $40,554
  • Net Operating Income $33,466

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,535

Year Built

Built in 2004

Lot Details

0

Listing Details

  • Cross Street: McKellips & Center
  • Legal Info Range: 5E
  • Property Type: Multiple Dwellings
  • Zoning: R4
  • Number Of Buildings: 1
  • Year Built: 2004
  • Tax Year: 2019
  • Directions: South on Center to Ingram. East on Ingram to Property. Property is on the south side
  • Road Surface Type: Asphalt, Curb(s) & Gutter(s), Sidewalk(s)
  • Subdivision Name: PLEASANT HOMES SUB UNIT 2
  • Tax Parcel Letter: A
  • Cooling:Ceiling Fan(s): Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator: Yes
  • Appliances Included:Dishwasher: Yes
  • Appliances Included:Disposal: Yes
  • Appliances Included:WasherDryer: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm, Sch of Personal Prop
  • Construction Type: Painted, Stucco, Frame - Wood
  • Roof: Composition
  • Construction:Frame - Wood: Yes

Garage/Parking

  • Total Covered Spaces: 4.0
  • Parking Features: Common
  • Attached Garage: No
  • Open Parking Spaces: 4.0
  • Total Parking Spaces: 8.0
  • General Property Description:Covered Parking Spcs: 4.0
  • General Property Description:Uncvrd Parking Spcs: 4.0
  • General Property Description:Total Parking Spcs: 8.0
  • Parking:Carport: Yes
  • Parking:Free: Yes
  • Parking:Paved Parking: Yes
  • Parking:_less_1 Space Per Unit: Yes

Utilities

  • Electric: SRP, Individual Meter
  • Cooling: Central A/C, Individual, Heat Pump, Ceiling Fan(s)
  • Heating: Individual, Heat Pump, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes
  • Heating:Individual: Yes
  • Heating:Heat Pump2: Yes

Condo/Co-op/Association

  • Community Features: Other, See Remarks, Barbecue, No Pool

Association/Amenities

  • Community Amenities:Other18: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Exterior Amenities:Security Light(s)3: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Interior Amenities:Mini Blinds: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Partially Fenced: Yes
  • Community Amenities:See Remarks15: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Exterior Amenities:Separate Storage: Yes
  • Interior Amenities:Unfurnished: Yes
  • Community Amenities:Barbecue: Yes
  • Interior Amenities:Fire Sprinklers2: Yes

Fee Information

  • Trash Expense: 400.0
  • Annual Water Sewer Expense: 2400.0

Schools

  • Elementary School: Whitman Elementary School
  • High School: Westwood High School

Lot Info

  • Lot Size: 100 x 86.67
  • Additional Parcels: No
  • Parcel #: 136-23-162-A

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Cable TV
  • Number Of Units Total: 4
  • Electric Expense: 432.0
  • Annual Gross Income: 40553.76
  • Insurance Expense: 1400.0
  • Maintenance Expense: 600.0
  • Property Net Operating Income: 33466.0
  • Annual Operating Expense: 7087.0
  • Vacancy Allowance Rate: 0.03

Tax Info

  • Tax Annual Amount: 1535.0
  • Tax Book Number: 136.00
  • Tax Lot: 100

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 5, 2019
Closed on
Oct 9, 2019
Sold by
Balian Joseph
Bought by
Bookout William E and Bookout Mary M
Seller's Agent
Linda Gerchick
Gerchick Real Estate
Buyer's Agent
Linda Gerchick
Gerchick Real Estate
List Price
$500,000
Sold Price
$500,000
Current Estimated Value
$826,411

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$326,411
Avg. Annual Appreciation
9.06%
Original Mortgage
$150,000
Outstanding Balance
$133,761
Interest Rate
3.87%
Mortgage Type
New Conventional
Estimated Equity
$690,049

Purchase Details

Listed on
May 4, 2019
Closed on
May 23, 2019
Sold by
Syed Rumee and Balian Joseph
Bought by
Balian Joseph
Seller's Agent
Nicholas Yale
Brokers Hub Realty, LLC
Buyer's Agent
Brandon Hamilton
Real Broker
List Price
$399,900
Sold Price
$399,900

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
70.21%
Original Mortgage
$299,925
Interest Rate
4.1%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 2, 2017
Sold by
Vanhorn Mitchell W
Bought by
Ingram Landing Llc

Purchase Details

Listed on
May 5, 2016
Closed on
Jun 8, 2016
Sold by
Yng Inc
Bought by
Vanhorn Mitchell
Seller's Agent
Steve Trang
Real Broker
Buyer's Agent
Nicholas Yale
Brokers Hub Realty, LLC
List Price
$250,000
Sold Price
$260,000
Premium/Discount to List
$10,000
4%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
13.51%
Original Mortgage
$182,000
Interest Rate
3.66%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 1, 2009
Sold by
Olenick Thomas F
Bought by
Yng Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$170,000
Interest Rate
4.92%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
May 4, 2009
Sold by
J P Morgan Mortgage Acquisition Corp
Bought by
Olenick Thomas F

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$170,000
Interest Rate
4.92%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Jan 20, 2009
Sold by
Linares Ortega Alma
Bought by
J P Morgan Mortgage Acquisition Corp

Purchase Details

Closed on
May 4, 2007
Sold by
Stanko Ronald E and Stanko Michele R
Bought by
Linares Alma

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$316,000
Interest Rate
9%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jan 22, 2006
Sold by
Harmon Darvin D and Harmon Hortencia H
Bought by
Stanko Ronald E and Stanko Michele R

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$332,000
Interest Rate
6.28%
Mortgage Type
Trade
Source: Public Records

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Warranty Deed $500,000 Empire West Title Agency Llc
Interfamily Deed Transfer -- Pioneer Title Agency Inc
Warranty Deed $399,900 Pioneer Title Agency Inc
Quit Claim Deed -- None Available
Warranty Deed $260,000 Security Title Agency Inc
Deed $170,000 None Available
Cash Sale Deed $170,000 Accommodation
Trustee Deed $318,550 None Available
Warranty Deed $395,000 Camelback Title Agency Llc
Warranty Deed $415,000 Fidelity National Title
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $150,000 New Conventional
Previous Owner $299,925 New Conventional
Previous Owner $182,000 New Conventional
Previous Owner $170,000 Seller Take Back
Previous Owner $316,000 Purchase Money Mortgage
Previous Owner $39,500 Stand Alone Second
Previous Owner $332,000 Trade
Previous Owner $88,500 Credit Line Revolving
Previous Owner $205,000 Unknown
Previous Owner $180,000 Construction
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/01/2019 11/01/19 Sold $500,000 0.0% $174 / Sq Ft
11/01/2019 11/01/19 Sold $500,000 0.0% $174 / Sq Ft
10/05/2019 10/05/19 For Sale $500,000 -6.5% $174 / Sq Ft
10/01/2019 10/01/19 Pending -- -- --
09/20/2019 09/20/19 For Sale $535,000 0.0% $186 / Sq Ft
09/19/2019 09/19/19 Pending -- -- --
09/19/2019 09/19/19 For Sale $535,000 +33.8% $186 / Sq Ft
05/31/2019 05/31/19 Sold $399,900 0.0% $139 / Sq Ft
05/04/2019 05/04/19 For Sale $399,900 +53.8% $139 / Sq Ft
06/30/2016 06/30/16 Sold $260,000 +4.0% $90 / Sq Ft
05/11/2016 05/11/16 Pending -- -- --
05/04/2016 05/04/16 For Sale $250,000 -- $87 / 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 $1,666 $16,970 -- --
2024 $1,679 $16,162 -- --
2023 $1,679 $49,460 $9,890 $39,570
2022 $1,645 $36,880 $7,370 $29,510
2021 $1,665 $30,330 $6,060 $24,270
2020 $1,643 $27,670 $5,530 $22,140
2019 $1,535 $23,380 $4,670 $18,710
2018 $1,473 $20,960 $4,190 $16,770
2017 $1,429 $18,480 $3,690 $14,790
2016 $1,403 $18,180 $3,630 $14,550
2015 $1,318 $16,070 $3,210 $12,860
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5980672

Arizona Regional Multiple Listing Service (ARMLS)

APN: 136-23-162A