NOT LISTED FOR SALE

Estimated Value: $596,000 - $687,113

-- Bed
-- Bath
1,797 Sq Ft
$350/Sq Ft Est. Value

Last Sold August 12, 2022

Last sale price $600,000 $334 Per Sq Ft

Est. 5% increase in value since last sale

Current estimated payment $3,664/month

15 Days on Market

Highlights

  • Gated Community
  • Community Kitchen
  • Concrete Flooring
  • Phoenix Coding Academy Rated A
  • Cooling Available
  • 2-minute walk to Hu-O-Te Mini Park

About This Home

As of August 2022

Location in Downtown Phoenix is amazing -- next to shopping centers, restaurants, central freeways. Hurry - this won't last long - don't miss out on this rare multi property with great pro forma potential and real-estate fundamentals! The property is a 510 square foot restaurant and a 1,286 square foot house. The restaurant is currently occupied by Grand Avenue Pizza Company while the in the single-family home is vacant. The house is gutted and ready for another large business or even two small businesses. Great cap rate with potential cap rate in the double digits if the back building is completed!

Last Agent to Sell the Property

Francisco Lerma

My Home Group Real Estate License #SA670705000 Listed on: 06/30/2022

My Home Group Real Estate

Co-Listed By

Shelsi Guthrie

Real Broker License #BR532488000

Last Buyer's Agent

Francisco Lerma

Real Broker License #SA670705000

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $2,638

Year Built

  • Built in 1910

Lot Details

  • 8,813 Sq Ft Lot
  • Block Wall Fence
  • Property is zoned c-3

Parking

  • Public Parking

Home Design

  • Block Exterior
  • Metal Siding

Interior Spaces

  • 1,797 Sq Ft Home
  • Concrete Flooring

Utilities

  • Cooling Available
  • Heating Available

Listing and Financial Details

  • Tax Lot 53
  • Assessor Parcel Number 111-28-120

Community Details

Overview

  • 2 Buildings
  • University Addition Subdivision

Building Details

  • Operating Expense $4,838
  • Gross Income $36,000
  • Net Operating Income $33,800

Additional Features

  • Community Kitchen
  • Gated Community

Property Details

Property Type

Other

Est. Annual Taxes

$2,638

Year Built

Built in 1910

Lot Details

0

Listing Details

  • Legal Info Range: 3E
  • Property Type: Comm/Industry Sale
  • Zoning: c-3
  • Number Of Buildings: 2
  • Ownership: Fee Simple
  • Year Built: 1910
  • Tax Year: 2021
  • Lot Size Acres: 0.2
  • Co List Office Mls Id: realbr001
  • Co List Office Phone: 602-755-3415
  • Subdivision Name: UNIVERSITY ADDITION
  • Structure Type: Commercial
  • Special Features: None
  • Property Sub Type: Other

Interior Features

  • Flooring: Concrete
  • Living Area: 1797.0

Exterior Features

  • Fencing: Block
  • Disclosures: None
  • Construction Type: Metal Siding, Block
  • Roof: Other
  • Construction:Block: Yes
  • Construction:Metal: Yes

Garage/Parking

  • Parking Features: Parking Lot
  • Attached Garage: No
  • Parking Features Public Parking: Yes

Utilities

  • Electric: Other (See Remarks)
  • Cooling: Other
  • Heating: Other
  • Green Building Features: Kitchen, Security Gate
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: Other
  • Main Cooling Other: Yes

Association/Amenities

  • Amenities:Kitchen: Yes
  • Amenities:Security Gate: Yes

Lot Info

  • Lot Size Sq Ft: 8813.0
  • Parcel #: 111-28-120

Multi Family

  • Annual Gross Income: 36000.0
  • Property Net Operating Income: 33800.0
  • Annual Operating Expense: 4838.0

Tax Info

  • Tax Annual Amount: 2638.0
  • Tax Book Number: 111.00
  • Tax Lot: 53
  • Tax Map Number: 28.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Mar 29, 2024
Sold by
Valcam 1 Llc
Bought by
Cc Holdings 13 Llc
Current Estimated Value
$628,025

Purchase Details

Listed on
Jun 30, 2022
Closed on
Aug 15, 2022
Sold by
Ccw Holdings Llc
Bought by
Valcam 1 Llc
Seller's Agent
Francisco Lerma
My Home Group Real Estate
Buyer's Agent
Francisco Lerma
My Home Group Real Estate
List Price
$424,900
Sold Price
$600,000
Premium/Discount to List
$175,100
41.21%
Views
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
1.81%
Original Mortgage
$300,000
Interest Rate
5.3%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Nov 26, 2019
Sold by
Eagle Rock Enterprises Llc
Bought by
Ccw Holdings Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$220,000
Interest Rate
3.6%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 11, 2019
Sold by
Fitz Simmons Donald Lee and Medchill Janet Ann
Bought by
Eagle Rock Enterprises Llc
Source: Public Records

Range of Values:

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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
Cc Holdings 13 Llc $695,000 Clear Title Agency Of Arizona
Valcam 1 Llc $600,000 Commonwealth Land Title
Ccw Holdings Llc $270,000 Great American Title Agency
Eagle Rock Enterprises Llc -- None Available
Fitz Simmons Donald Lee -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Valcam 1 Llc $300,000
Previous Owner Ccw Holdings Llc $220,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/12/2022 08/12/22 Sold $600,000 0.0% $334 / Sq Ft
07/08/2022 07/08/22 Price Changed $599,800 +41.2% $334 / Sq Ft
06/29/2022 06/29/22 For Sale $424,900 -- $236 / 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 $2,696 $19,945 -- --
2024 $2,699 $19,202 -- --
2023 $2,699 $32,148 $18,401 $13,747
2022 $2,636 $25,603 $12,956 $12,647
2021 $2,638 $25,488 $13,092 $12,396
2020 $2,669 $23,604 $11,340 $12,264
2019 $2,220 $14,940 $5,520 $9,420
2018 $2,182 $13,900 $4,800 $9,100
2017 $2,132 $12,030 $5,000 $7,030
2016 $2,071 $11,180 $4,550 $6,630
2015 $1,938 $10,780 $5,220 $5,560
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6426273

Arizona Regional Multiple Listing Service (ARMLS)

APN: 111-28-120