NOT LISTED FOR SALE

12440 N 113th Ave Youngtown, AZ 85363

74 Beds
-- Bath
4,935 Sq Ft
1983 Built

Last Sold May 30, 2021

Last sale price $8,400,000 $1,702 Per Sq Ft

25 Days on Market

Highlights

  • Heated Community Pool
  • Cooling Available
  • Community Barbecue Grill
  • Game Room
  • Resident Manager or Management On Site
  • Concrete Flooring

About This Home

As of May 2021

This is a top-quality, low-risk asset, situated in a very strong rental submarket - and it also has significant upside potential. RENTS ARE WAY BELOW MARKET. Property is located in Youngtown, adjacent to the retirement haven of Sun City. As a result, Sun Valley tends to cater to an older, stable resident profile, which has allowed the property to develop a long history of consistently high occupancy, with very low tenant turnover.
The exterior of property is in excellent condition. However, the apartment interiors are still quite basic, especially the ones that have had long-term tenants living there - but that creates an enormous opportunity for the Buyer.
Note: a total of 59 of the 71 units are currently on month-to-month leases, so rents can potentially be moved up very quickly.

Last Agent to Sell the Property

Andrew Tate

Keller Williams Arizona Realty License #BR038343000 Listed on: 03/01/2021

Keller Williams Arizona Realty

Last Buyer's Agent

Andrew Tate

Keller Williams Arizona Realty License #BR038343000 Listed on: 03/01/2021

Keller Williams Arizona Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $18,406

Year Built

  • Built in 1983

Home Design

  • Brick Exterior Construction
  • Composition Roof
  • Built-Up Roof
  • Block Exterior

Flooring

  • Concrete Flooring

Parking

  • 20 Open Parking Spaces
  • 90 Parking Spaces
  • Carport
  • Paved Parking

Utilities

  • Cooling Available
  • Heat Pump System
  • Individual Controls for Heating

Listing and Financial Details

  • The owner pays for pool maintenance, gas, trash collection, water, sewer, landscaping
  • Tax Lot 20085003V
  • Assessor Parcel Number 200-85-003-V

Community Details

Overview

  • 8 Buildings
  • 71 Units
  • Building Dimensions are 3.16 acres

Amenities

  • Community Barbecue Grill
  • Game Room

Recreation

  • Heated Community Pool

Building Details

  • Operating Expense $18,406
  • Gross Income $609,664
  • Net Operating Income $400,659

Security

  • Resident Manager or Management On Site

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$18,406

Year Built

Built in 1983

Lot Details

0

Listing Details

  • Cross Street: 113th Avenue & W. Rhode Island
  • Legal Info Range: 1E
  • Property Type: Multiple Dwellings
  • Zoning: C-1
  • Number Of Buildings: 8
  • Ownership: Fee Simple
  • Year Built: 1983
  • Tax Year: 2020
  • Directions: South of Grand Avenue on 113th Avenue for 1/2 mile
  • Road Surface Type: Asphalt, Curb(s) & Gutter(s)
  • Tax Parcel Letter: V
  • Roofing:Composition: Yes
  • Water Source City Franchise2: Yes
  • Community Features GameRec Room: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Concrete
  • Appliances: Free-Standing Range, Disposal, Refrigerator
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Disposal2: Yes
  • Community Features:Pool2: Yes
  • Community Features:Barbecue: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Brick Veneer, Block
  • Roof: Composition, Built-Up
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 70.0
  • Parking Features: Paved, 1 Space/Unit, Carport
  • Attached Garage: No
  • Open Parking Spaces: 20.0
  • Total Parking Spaces: 90.0
  • General Property Description:Covered Parking Spcs: 70.0
  • General Property Description:Uncvrd Parking Spcs: 20.0
  • General Property Description:Total Parking Spcs: 90.0
  • Parking Features:Carport: Yes
  • Parking Features:Paved2: Yes

Utilities

  • Electric: APS, Individual Meter
  • Cooling: Electric, Individual
  • 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: Barbecue, Game/Rec Room, Manager Res/Office, Pool

Association/Amenities

  • Exterior Amenities:Fenced3: Yes
  • Exterior Amenities:PatioBalcony: Yes
  • Interior Amenities:Unfurnished: Yes
  • Interior Amenities:Vertical Blinds2: Yes

Schools

  • Junior High Dist: Peoria Unified School District

Lot Info

  • Lot Size: 3.16 acres
  • Additional Parcels: No
  • Parcel #: 200-85-003-V

Multi Family

  • Owner Pays: Pool Maintenance, Gas, Trash Collection, Water, Sewer, Landscaping
  • Number Of Units Total: 71
  • Annual Gross Income: 609664.4
  • Property Net Operating Income: 400659.0
  • Annual Operating Expense: 18406.0
  • Vacancy Allowance Rate: 0.03

Tax Info

  • Tax Annual Amount: 18406.0
  • Tax Book Number: 200.00
  • Tax Lot: 20085003V

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/30/2021 05/30/21 Sold $8,400,000 +0.7% $1,702 / Sq Ft
05/01/2021 05/01/21 Price Changed $8,342,500 0.0% $1,690 / Sq Ft
03/26/2021 03/26/21 Pending -- -- --
03/01/2021 03/01/21 For Sale $8,342,500 -- $1,690 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Andrew Tate

    Seller's Agent in 2021

    Andrew Tate

    Keller Williams Arizona Realty

    (480) 203-7498

    1 in this area

    11 Total Sales

    Andrew Tate
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6203064

Arizona Regional Multiple Listing Service (ARMLS)
Arizona Maricopa County Youngtown 85363

12440 N 113th Ave, Youngtown, AZ

This home is located at 12440 N 113th Ave, Youngtown, AZ 85363 since 01 March 2021. This property was built in 1983. 12440 N 113th Ave is a home located in Maricopa County with nearby schools including Country Meadows Elementary School, Raymond S. Kellis, and Desert Mirage Elementary School.

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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