NOT LISTED FOR SALE

1301 E Mountain View Rd Phoenix, AZ 85020

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

Sale Details

Date Sold: October 31, 2013

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

133 Days on Market

Highlights

  • Private Pool
  • Cooling Available
  • Community Barbecue Grill
  • Sunnyslope High School Rated A
  • Community Playground
  • Ceramic Tile Flooring

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

  • Landscaped
  • Additional Parcels

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Stucco

Parking

  • 75 Parking Spaces
  • Parking Available
  • Free Parking
  • Paved Parking
  • Additional Parking
  • 75 Open Parking Spaces

Utilities

  • Cooling Available
  • Heating Available
  • Separate Meters
  • Natural Gas Not Available

Additional Features

  • Ceramic Tile Flooring
  • Private Pool

Listing and Financial Details

  • Tenant pays for electricity
  • 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 Sq Ft Lot

Listing Details

  • Cross Street: 12th Street & Northern
  • Property Type: Multiple Dwellings
  • Zoning: R-3 Phoenix
  • Number Of Buildings: 10
  • Ownership: Condominium
  • Year Built: 1983
  • Tax Year: 2012
  • 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

  • Flooring: Ceramic Tile
  • Appliances: Free-Standing Range, Refrigerator, Dishwasher, Disposal

Exterior Features

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

Garage/Parking

  • Parking Features: Open, 1 Space/Unit, Paved
  • Attached Garage: No
  • Open Parking Spaces: 75.0
  • Total Parking Spaces: 75.0

Utilities

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

Condo/Co-op/Association

  • Community Features: Pool, Play Area, Barbecue

Schools

  • Junior High Dist: Phoenix Union High School District

Lot Info

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

Multi Family

  • Owner Pays: Other, See Remarks
  • Tenant Pays: Electricity
  • 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: 159.0
  • Tax Lot: 102
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
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)

Agents Affiliated with this Home

  • N

    Seller's Agent in 2013

    Natan Jacobs

    Vestis Group

  • James Hill

    Buyer's Agent in 2013

    James Hill

    West USA Realty

    (602) 748-6706

    3 Total Sales

    James Hill
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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

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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