NOT LISTED FOR SALE

1301 E Mountain View Rd Phoenix, AZ 85020

North Central Neighborhood
146 Beds
-- Bath
800 Sq Ft
1983 Built

Last Sold October 31, 2013

Last sale price $2,606,250 $3,258 Per Sq Ft

133 Days on Market

Highlights

  • Heated Community Pool
  • Cooling Available
  • Community Barbecue Grill
  • Sunnyslope High School Rated A
  • Community Playground
  • Individual Controls for Heating

About This Home

As of October 2013

75-units available for sale as a package (bulk condos), inside Loma Bonita Condominium located in Phoenix. Located on Mountain View Road, west of the SR-51 Freeway, and east of 7th Street, near Phoenix Mountains, Camelback Corridor, John C Lincoln Hospital, Arizona Christian University, shopping, schools, and plenty of transportation options. Property is being sold ''As-Is.'' For the investor: This property offers the rare opportunity to acquire 80s vintage condos (fully rehabbed in 2007 for conversion) with a majority of the units within the HOA. Projected gross potential rent of $495,000, less 10% vacancy of $49,000 per year, added income of $90,000, equals $535,500 adjusted gross income. After expenses of $316,125, the pro forma net operating income is $219,375. This is a 7.8% CAP RATE!

Last Agent to Sell the Property

Natan Jacobs

Vestis Group License #BR525576000 Listed on: 04/25/2013

Last Buyer's Agent

James Hill

West USA Realty License #SA116827000

West USA Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $18,504

Year Built

  • Built in 1983

Lot Details

  • Additional Parcels

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Stucco

Parking

  • 75 Open Parking Spaces
  • 75 Parking Spaces
  • Assigned Parking

Utilities

  • Cooling Available
  • Individual Controls for Heating

Listing and Financial Details

  • Tax Lot 102
  • Assessor Parcel Number 159-31-216

Community Details

Overview

  • 10 Buildings
  • 75 Units
  • Building Dimensions are IRR
  • Mountain View Manor Condominium Aka Loma Bonita Subdivision

Amenities

  • Community Barbecue Grill

Recreation

  • Community Playground
  • Heated Community Pool

Building Details

  • Operating Expense $315,354
  • Gross Income $526,500
  • Net Operating Income $219,375

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$18,504

Year Built

Built in 1983

Lot Details

0

Listing Details

  • Cross Street: 12th Street & Northern
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R-3 Phoenix
  • Number Of Buildings: 10
  • Year Built: 1983
  • Tax Year: 2012
  • Directions: N on 12th Street, E on Mountain View Road; Complex on South side of street.
  • Road Surface Type: Asphalt
  • Professional Management Expense: 21450.0
  • Subdivision Name: Mountain View Manor Condominium AKA Loma Bonita
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

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

Exterior Features

  • Disclosures: None
  • Construction Type: Painted, Stucco, Frame - Wood
  • Roof: Composition
  • Construction:Frame - Wood: Yes

Garage/Parking

  • Parking Features: Assigned
  • Attached Garage: No
  • Open Parking Spaces: 75.0
  • Total Parking Spaces: 75.0
  • General Property Description:Uncvrd Parking Spcs: 75.0
  • General Property Description:Total Parking Spcs: 75.0
  • Parking:Free: Yes
  • Parking:Paved Parking: Yes
  • Parking:Add_squote_l Parking Avail: Yes
  • Parking:_one_ SpaceUnit: Yes

Utilities

  • Electric: SRP, Individual Meter
  • Cooling: Individual, Electric
  • Heating: Individual, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes
  • Heating:Individual: Yes

Condo/Co-op/Association

  • Community Features: Barbecue, Play Area, Pool

Association/Amenities

  • Exterior Amenities:Landscape Wtr System: Yes
  • Exterior Amenities:Green Landscaping: Yes
  • Community Amenities:Pool2: Yes
  • Interior Amenities:Unfurnished: Yes
  • Community Amenities:Barbecue: Yes
  • Community Amenities:Play Area: Yes

Lot Info

  • Lot Size: IRR
  • Additional Parcels: Yes
  • Parcel #: 159-31-216

Multi Family

  • Number Of Units Total: 75
  • Annual Gross Income: 526500.0
  • Maintenance Expense: 30000.0
  • Property Net Operating Income: 219375.0
  • Annual Operating Expense: 315354.0
  • Vacancy Allowance Rate: 0.1

Tax Info

  • Tax Annual Amount: 18504.0
  • Tax Book Number: 159.00
  • Tax Lot: 102

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
10/31/2013 10/31/13 Sold $2,606,250 -9.6% $3,258 / Sq Ft
09/05/2013 09/05/13 Pending -- -- --
04/25/2013 04/25/13 For Sale $2,883,500 -- $3,604 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Natan Jacobs

    Seller's Agent in 2013

    Natan Jacobs

    Vestis Group

    (480) 440-4403

    4 in this area

    29 Total Sales

    Natan Jacobs
    Section Image
  • James Hill

    Buyer's Agent in 2013

    James Hill

    West USA Realty

    (602) 748-6706

    5 Total Sales

    James Hill
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 4926308

Arizona Regional Multiple Listing Service (ARMLS)
Arizona Maricopa County Phoenix 85020 North Central

1301 E Mountain View Rd, Phoenix, AZ

This home is located at 1301 E Mountain View Rd, Phoenix, AZ 85020 since 25 April 2013. This property was built in 1983. 1301 E Mountain View Rd is a home located in Maricopa County with nearby schools including Sunnyslope Elementary School, Sunnyslope High School, and Montessori Day Public Schools Chartered - Mountainside.

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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