NOT LISTED FOR SALE

Estimated Value: $508,000 - $716,533

Studio
-- Bath
1,242 Sq Ft
$509/Sq Ft Est. Value

Last Sold June 25, 2021

Last sale price $599,000 $482 Per Sq Ft

Est. 5% increase in value since last sale

Current estimated payment $3,439/month

2 Days on Market

Highlights

  • Cooling Available
  • Phoenix Coding Academy Rated A
  • Heat Pump System

About This Home

As of June 2021

Incredible investment opportunity in a prime downtown location. Two separate buildings with four total units. All four units feature two bedrooms, one bath floor plans. Building layout and placement is perfect for privacy, extra parking, landscaping, and other value add improvements. All AC units were replaced approximately 8 years ago. Long term month to month tenants rented at well below market value. Close proximity to many restaurants, ASU downtown campus, Children's Museum of Phoenix, Az Science Center, Japanese Friendship Garden, Banner Health hospital and many other downtown amenities. Check out Phoenix Roosevelt Row history and features just blocks away.

Last Agent to Sell the Property

Joe Kertesz

West USA Realty License #SA643656000 Listed on: 06/10/2021

West USA Realty

Last Buyer's Agent

Roger Phillips

Keller Williams Realty Phoenix License #SA651186000

Keller Williams Realty Phoenix

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,471

Year Built

  • Built in 1985

Lot Details

  • 6,621

Home Design

  • Wood Frame Construction
  • Composition Roof

Parking

  • 4 Open Parking Spaces
  • 4 Parking Spaces

Utilities

  • Cooling Available
  • Heat Pump System
  • Master Water Meter

Listing and Financial Details

  • Tenant pays for cable TV
  • The owner pays for trash collection, water, sewer
  • Legal Lot and Block 10 / 9
  • Assessor Parcel Number 116-31-111

Community Details

Overview

  • 2 Buildings
  • 4 Units
  • Building Dimensions are 132.5' x 50'
  • Brills Addition Amd Subdivision

Building Details

  • Operating Expense $6,285
  • Gross Income $41,700
  • Net Operating Income $35,415

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,471

Year Built

Built in 1985

Lot Details

0

Listing Details

  • Cross Street: 7th Street and Portland
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R3
  • Number Of Buildings: 2
  • Year Built: 1985
  • Tax Year: 2020
  • Road Surface Type: Asphalt
  • Subdivision Name: BRILLS ADDITION AMD
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator: Yes

Exterior Features

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

Garage/Parking

  • Open Parking Spaces: 4.0
  • Total Parking Spaces: 4.0
  • General Property Description:Uncvrd Parking Spcs: 4.0
  • General Property Description:Total Parking Spcs: 4.0
  • Parking:_greater_1 Space Per Unit: Yes

Utilities

  • Electric: APS, Individual Meter
  • Cooling: Heat Pump
  • Heating: Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: Master Meter
  • Heating:Electric: Yes

Condo/Co-op/Association

  • Community Features: Other, See Remarks

Association/Amenities

  • Community Amenities:Other18: Yes
  • Exterior Amenities:Partially Fenced: Yes
  • Community Amenities:See Remarks15: Yes
  • Exterior Amenities:Separate Storage: Yes

Fee Information

  • Annual Water Sewer Expense: 3500.0

Lot Info

  • Lot Size: 132.5' x 50'
  • Additional Parcels: No
  • Parcel #: 116-31-111

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Tenant Pays: Cable TV
  • Number Of Units Total: 4
  • Annual Gross Income: 41700.0
  • Insurance Expense: 1214.0
  • Property Net Operating Income: 35415.0
  • Annual Operating Expense: 6285.0

Tax Info

  • Tax Annual Amount: 1471.0
  • Tax Block: 9
  • Tax Book Number: 116.00
  • Tax Lot: 10

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 10, 2021
Closed on
Jun 22, 2021
Sold by
K Sauer L Golberg Llc
Bought by
The Wedel Group Llc
Seller's Agent
Joe Kertesz
West USA Realty
Buyer's Agent
Roger Phillips
Keller Williams Realty Phoenix
List Price
$619,000
Sold Price
$599,000
Premium/Discount to List
-$20,000
-3.23%
Current Estimated Value
$631,633

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$32,633
Avg. Annual Appreciation
1.18%

Purchase Details

Closed on
Feb 9, 1996
Sold by
Austin Funding Inc
Bought by
Sauer Kelly R and Golberg Lori L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$31,400
Interest Rate
6.98%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 18, 1995
Sold by
Linder Dorris M
Bought by
Austin Funding Inc
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 Buyer Sale Price Title Company
The Wedel Group Llc $599,000 Wfg National Title Ins Co
Sauer Kelly R $39,300 Security Title Agency
Austin Funding Inc -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Sauer Kelly R $31,400
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/25/2021 06/25/21 Sold $599,000 -3.2% $482 / Sq Ft
06/11/2021 06/11/21 Pending -- -- --
06/09/2021 06/09/21 For Sale $619,000 -- $498 / 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 $1,630 $11,472 -- --
2024 $1,519 $10,926 -- --
2023 $1,519 $38,100 $7,620 $30,480
2022 $1,465 $27,720 $5,540 $22,180
2021 $1,454 $23,570 $4,710 $18,860
2020 $1,471 $22,530 $4,500 $18,030
2019 $1,469 $16,060 $3,210 $12,850
2018 $1,444 $13,750 $2,750 $11,000
2017 $1,410 $13,160 $2,630 $10,530
2016 $1,370 $10,750 $2,150 $8,600
2015 $1,267 $10,180 $2,030 $8,150
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6248109

Arizona Regional Multiple Listing Service (ARMLS)

APN: 116-31-111