NOT LISTED FOR SALE

1050 E Fairmount Ave Phoenix, AZ 85014

Central City Neighborhood

Estimated Value: $395,000 - $732,000

6 Beds
8 Baths
-- Sq Ft
0.42 Acres

Last Sold August 27, 2012

Last sale price $66,500

Est. 621% increase in value since last sale

Current estimated payment $2,676/month

73 Days on Market

Highlights

  • Evaporated cooling system
  • Phoenix Coding Academy Rated A
  • Painted or Stained Flooring

About This Home

As of August 2012

Public Remarks: INVESTMENT OPPORTUNITY!!! NOT A SHORT SALE OR BANK OWNED!VACANT 4 SINGLE-FAMILY HOMES ON THIS LOT!!! 3 COVERED PARKING SPACES AND 2 UNCOVERED PARKING SPACES.

Last Agent to Sell the Property

John Filipian

DeLex Realty License #SA576926000 Listed on: 05/18/2012

DeLex Realty

Last Buyer's Agent

Lloyd Kaipainen

Better Homes & Gardens Real Estate SJ Fowler License #BR517153000

Better Homes & Gardens Real Estate SJ Fowler

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1945

Lot Details

  • 0.42

Parking

  • Over 1 Space Per Unit

Home Design

  • Wood Frame Construction
  • Metal Roof

Kitchen

  • Oven or Range
  • Free-Standing Electric Oven

Flooring

  • Painted or Stained Flooring
  • Carpet
  • Vinyl

Schools

  • John F. Long Elementary School
  • North High School

Utilities

  • Evaporated cooling system
  • Cooling System Mounted To A Wall/Window
  • Heating System Uses Natural Gas

Community Details

  • $2,045 per year Dock Fee
  • 4 Units
  • Building Dimensions are UNKNOWN

Listing and Financial Details

  • Tenant pays for cable TV, electric, gas
  • The owner pays for trash collection, water

Property Details

Home Type

Multi-Family

Year Built

Built in 1945

Lot Details

0

Listing Details

  • Tax Municipality: Maricopa - COUNTY
  • Appliances Included: F/S Oven/Range
  • Construction Finish: Painted
  • Cross Street: Indian School and 12th St.
  • Floors: Carpet, Vinyl
  • Legal Info Lot Number: 20
  • Legal Info Range: 3E
  • Legal Info Section: 28
  • Legal Info Township: 2N
  • Payment Includes: Insurance, Interest, Principal, Taxes
  • Roads Streets: Asphalt
  • Property Type: F
  • Hundred Block: 4600
  • Marketing Name: KAY TRACT
  • Ownership: Fee Simple
  • Uncvrd Parking Spcs: 2.00
  • Map Code Grid: P34
  • Year Built: 1945
  • Tax Year: 2011
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Unfurnished

Exterior Features

  • Exterior Amenities: RV/Boat Parking
  • Roofing: Metal
  • Construction: Frame - Wood

Garage/Parking

  • Parking: >1 Space Per Unit
  • Total Parking Spaces: 5.00
  • Covered Parking Spaces: 3.00

Utilities

  • Water: City Franchise
  • Electric: APS
  • Gas: SW Gas
  • Cooling: Electric, Evaporative Cooling, Window/Wall Unit
  • Heating: Natural Gas

Condo/Co-op/Association

  • Community Amenities: No Pool

Schools

  • Elementary School: John F. Long
  • High School: North High School
  • Junior High School: Osborn Middle School

Lot Info

  • Lot Size: UNKNOWN

Multi Family

  • Income And Expenses Operating Exp: 2045.00
  • Income And Expenses Vacancy Allowance: 5.00
  • Number Of One Bedroom Units: 2
  • Number Of Two Bedroom Units: 2
  • One Bedroom Units Avg Rent: 325.00
  • One Bedroom Units Baths: 12
  • Owner Pays: Trash Collection, Water
  • Tenant Pays: Cable TV, Electric, Gas
  • Total Numberof Buildings: 4
  • Total Numberof Units: 4.00
  • Two Bedroom Units Avg Rent: 580.00
  • Two Bedroom Units Baths: 2

Tax Info

  • Taxes: 2045.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
May 30, 2018
Sold by
Xing Wei and Lu Jing Qiao
Bought by
Fairmount Ave Llc
Current Estimated Value
$479,260

Purchase Details

Closed on
Dec 1, 2017
Sold by
Fairmount Ave Llc
Bought by
Lu Jing Qiao and Xing Wei

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$266,500
Interest Rate
3.88%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 31, 2017
Sold by
Xing Wei
Bought by
Fairmount Ave Llc

Purchase Details

Closed on
Jun 4, 2013
Sold by
Jack Marketing Llc
Bought by
Xing Wei

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$224,100
Interest Rate
3.38%
Mortgage Type
Commercial

Purchase Details

Closed on
May 30, 2013
Sold by
Parseghian Araz and Galstanyan Verzhine
Bought by
Galstanyan Verzhine

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$224,100
Interest Rate
3.38%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 26, 2013
Sold by
Farnsworth Robin Lynn
Bought by
Farnsworth David C

Purchase Details

Listed on
May 18, 2012
Closed on
Sep 27, 2012
Sold by
Galstanyan Varzhine
Bought by
Farnsworth David C
Seller's Agent
John Filipian
DeLex Realty
Buyer's Agent
Lloyd Kaipainen
Better Homes & Gardens Real Estate SJ Fowler
List Price
$89,900
Sold Price
$66,500
Premium/Discount to List
-$23,400
-26.03%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
16.65%

Purchase Details

Closed on
Mar 2, 2011
Sold by
Ez Homes Inc
Bought by
Galstanyan Verzhine

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$36,101
Interest Rate
4.71%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 14, 2011
Sold by
Huss Michael T
Bought by
Ez Homes Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$36,101
Interest Rate
4.71%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 18, 2007
Sold by
Sunshine & Me Realty Llc
Bought by
Huss Michael T

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$203,312
Interest Rate
7.5%
Mortgage Type
New Conventional

Purchase Details

Closed on
Nov 14, 2003
Sold by
Coulter Elena
Bought by
Sunshine & Me Realty Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$105,000
Interest Rate
6.27%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 24, 2003
Sold by
Coulter Mark C
Bought by
Coulter Elena

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$105,000
Interest Rate
6.27%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
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
Fairmount Ave Llc -- None Available
Lu Jing Qiao -- Wfg National Title Insurance
Fairmount Ave Llc -- None Available
Xing Wei $270,000 Driggs Title Agency Inc
Galstanyan Verzhine -- Driggs Title Agency Inc
Farnsworth David C -- None Available
Jack Marketing Llc $99,000 Driggs Title Agency
Farnsworth David C -- Chicago Title Agency Inc
Farnsworth David C -- None Available
Galstanyan Verzhine -- None Available
Ez Homes Inc $58,101 None Available
Huss Michael T $254,140 Security Title Agency Inc
Sunshine & Me Realty Llc -- --
Coulter Elena -- Century Title Agency Inc
Coulter Elena $140,000 Century Title Agency Inc
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Lu Jing Qiao $266,500
Previous Owner Xing Wei $224,100
Previous Owner Jack Marketing Llc $102,575
Previous Owner Galstanyan Verzhine $36,101
Previous Owner Huss Michael T $203,312
Previous Owner Coulter Elena $105,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/27/2012 08/27/12 Sold $66,500 -26.0% --
07/30/2012 07/30/12 Pending -- -- --
05/18/2012 05/18/12 For Sale $89,900 -- --
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 $1,974 $15,202 -- --
2024 $1,843 $14,478 -- --
2023 $1,843 $38,910 $7,780 $31,130
2022 $1,776 $29,460 $5,890 $23,570
2021 $1,811 $25,480 $5,090 $20,390
2020 $1,765 $22,800 $4,560 $18,240
2019 $1,687 $18,710 $3,740 $14,970
2018 $1,630 $17,970 $3,590 $14,380
2017 $1,493 $13,810 $2,760 $11,050
2016 $1,488 $13,800 $2,760 $11,040
2015 $1,383 $12,510 $2,500 $10,010
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2012

    John Filipian

    DeLex Realty

    Section Image

  • L

    Buyer's Agent in 2012

    Lloyd Kaipainen

    Better Homes & Gardens Real Estate SJ Fowler

    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 4761553

Arizona Regional Multiple Listing Service (ARMLS)

APN: 118-03-024

Arizona Maricopa County Phoenix 85014 Central City

1050 E Fairmount Ave, Phoenix, AZ

Not Listed for Sale

MultiFamily

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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