NOT LISTED FOR SALE

122 E Elliot Rd Gilbert, AZ 85234

Downtown Gilbert Neighborhood

Estimated Value: $359,000 - $595,000

-- Bed
-- Bath
1,540 Sq Ft
$316/Sq Ft Est. Value

Last Sold September 10, 2015

Last sale price $165,000 $107 Per Sq Ft

Est. 195% increase in value since last sale

Current estimated payment $2,629/month

62 Days on Market

Highlights

  • Evaporated cooling system
  • Concrete Flooring
  • Heating System Uses Natural Gas
  • Burk Elementary School Rated A-

About This Home

As of September 2015

Incredibly rare opportunity for a multi-family property in Gilbert. This is a Mid-Century modern masterpiece, located in the heart of the popular, historic downtown Gilbert area. This duplex features original architecture and sophistication, and has been beautifully updated in a period-appropriate, classic style. The property is walking distance to shopping, restaurants, schools and parks. Apartments are in great demand as upscale offices, high-end restaurants, boutique stores and Saint Xavier University are being added to the downtown GIlbert area. Fantastic upside potential as the rent are currently under market rates.

Last Agent to Sell the Property

Will Fry

Arizona Realty Shop License #BR522422000 Listed on: 06/12/2015

Last Buyer's Agent

May Jewell

DPR Realty LLC License #SA645768000

DPR Realty LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $504

Year Built

  • Built in 1960

Lot Details

  • 10,019

Home Design

  • Composition Roof
  • Block Exterior

Flooring

  • Concrete Flooring

Parking

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

Schools

  • Gilbert Elementary School
  • Mesquite Elementary School - Gilbert Middle School
  • Gilbert High School

Utilities

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

Listing and Financial Details

  • Tenant pays for cable TV, landscaping
  • The owner pays for trash collection, water, sewer
  • Tax Lot 8
  • Assessor Parcel Number 304-11-189

Community Details

Overview

  • 2 Units
  • Building Dimensions are .23
  • Hazelwood Terrace Subdivision

Building Details

  • Operating Expense $1,154
  • Gross Income $16,800
  • Net Operating Income $15,611

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$504

Year Built

Built in 1960

Lot Details

0

Listing Details

  • Cross Street: Gilbert/Elliot
  • Legal Info Range: 6E
  • Property Type: Multiple Dwellings
  • Zoning: R4
  • Number Of Buildings: 1
  • Year Built: 1960
  • Tax Year: 2014
  • Directions: E on Elliot to first left, to property on right
  • Road Surface Type: Asphalt
  • Subdivision Name: Hazelwood Terrace
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Concrete
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator: Yes
  • Appliances Included:WD Hookup: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Painted, Block
  • Roof: Composition, Rolled/Hot Mop
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 2.0
  • Parking Features: Common
  • Attached Garage: No
  • Open Parking Spaces: 2.0
  • Total Parking Spaces: 4.0
  • General Property Description:Covered Parking Spcs: 2.0
  • General Property Description:Uncvrd Parking Spcs: 2.0
  • General Property Description:Total Parking Spcs: 4.0
  • Parking:Carport: Yes
  • Parking:Street Parking: Yes
  • Parking:Attached: Yes
  • Parking:_one_ SpaceUnit: Yes

Utilities

  • Electric: SRP, Individual Meter
  • Cooling: Evaporative Cooling, Wall/Window Unit(s)
  • Heating: Natural Gas
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Master Meter
  • Heating:Natural Gas: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Cable TV Available: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Partially Fenced: Yes
  • Exterior Amenities:Separate Storage: Yes
  • Interior Amenities:Unfurnished: Yes
  • Exterior Amenities:Satellite Dish: Yes
  • Interior Amenities:Drapes2: Yes

Fee Information

  • Annual Water Sewer Expense: 650.0

Schools

  • Elementary School: Gilbert Elementary School
  • High School: Gilbert High School
  • Middle Or Junior School: Mesquite Elementary School - Gilbert

Lot Info

  • Lot Size: .23
  • Additional Parcels: No
  • Parcel #: 304-11-189

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Tenant Pays: Cable TV, Landscaping
  • Number Of Units Total: 2
  • Annual Gross Income: 16800.0
  • Property Net Operating Income: 15611.0
  • Annual Operating Expense: 1154.0

Tax Info

  • Tax Annual Amount: 504.0
  • Tax Book Number: 304.00
  • Tax Lot: 8

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Aug 8, 2024
Sold by
Csp Trust and Patterson Collin
Bought by
Patterson Irrevocable Trust and Patterson
Current Estimated Value
$486,258

Purchase Details

Closed on
Aug 27, 2020
Sold by
Jewell Susan
Bought by
Jewell Susan and The Csp Trust

Purchase Details

Listed on
Jun 12, 2015
Closed on
Jul 30, 2015
Sold by
Good Earth Capital Ii Llc
Bought by
Jewell Susan
Seller's Agent
Will Fry
Arizona Realty Shop
Buyer's Agent
May Jewell
DPR Realty LLC
List Price
$169,900
Sold Price
$165,000
Premium/Discount to List
-$4,900
-2.88%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
11.67%
Original Mortgage
$161,950
Interest Rate
3.75%
Mortgage Type
FHA

Purchase Details

Closed on
Dec 13, 2013
Sold by
John 3:16 Llc
Bought by
Good Earth Capital Ii Llc

Purchase Details

Closed on
Apr 24, 2003
Sold by
Kodatt Willard J and Kodatt Willard
Bought by
The Willard J Kodatt Family Lp #1
Source: Public Records

Range of Values:

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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
Patterson Irrevocable Trust -- None Listed On Document
Jewell Susan -- None Available
Jewell Susan $165,000 Lawyers Title Of Arizona Inc
Good Earth Capital Ii Llc $80,000 Stewart Title & Trust Of Pho
John 3:16 Llc $75,000 Stewart Title & Trust Of Pho
The Willard J Kodatt Family Lp #1 -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Jewell Susan $161,950
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/10/2015 09/10/15 Sold $165,000 -2.9% $107 / Sq Ft
08/13/2015 08/13/15 Pending -- -- --
06/12/2015 06/12/15 For Sale $169,900 -- $110 / 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 $616 $7,047 -- --
2024 $619 $6,711 -- --
2023 $619 $34,900 $6,980 $27,920
2022 $602 $23,170 $4,630 $18,540
2021 $623 $21,510 $4,300 $17,210
2020 $614 $21,330 $4,260 $17,070
2019 $570 $11,920 $2,380 $9,540
2018 $555 $9,180 $1,830 $7,350
2017 $536 $7,330 $1,460 $5,870
2016 $550 $6,300 $1,260 $5,040
2015 $501 $5,600 $1,120 $4,480
Source: Public Records

Agents Affiliated with this Home

  • W

    Seller's Agent in 2015

    Will Fry

    Arizona Realty Shop

    (480) 686-3336

    5 Total Sales

    Will Fry
    Section Image

  • M

    Buyer's Agent in 2015

    May Jewell

    DPR Realty

    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5293110

Arizona Regional Multiple Listing Service (ARMLS)

APN: 304-11-189

Arizona Maricopa County Gilbert 85234 Downtown Gilbert

122 E Elliot Rd, Gilbert, AZ

This home is located at 122 E Elliot Rd, Gilbert, AZ 85234 since 12 June 2015 and is currently estimated at $486,258, approximately $315 per square foot. This property was built in 1960. 122 E Elliot Rd is a home located in Maricopa County with nearby schools including Burk Elementary School, Mesquite Junior High School, and Gilbert Arts Academy.

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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