$630,000
SOLD MAY 24, 2022
-- Bed
-- Bath
2,093 Sq Ft
1960 Built

Recently Sold

$301 Per Sq Ft

16% Below List Price

28 Days on Market

Highlights

  • Cooling System Mounted To A Wall/Window
  • Concrete Flooring
  • Heat Pump System
  • Phoenix Coding Academy Rated A

About This Home

As of December 2024

3 Units, Built in 1960, Garden-Style Property. (2) 1-Bed / 1-Bath & (1) 2-Bed / 1-Bath. Value-Add Opportunity Through Interior & Exterior Renovations. All Tenants on Month to Month Lease Agreements. Attractive Centralized Location Between Tempe, Scottsdale, & Arcadia.Just Minutes From Desert Botanical Garden, Phoenix Zoo, & Papago Golf Course.Easy Access to the Arizona Loop 202 & Arizona State Route 143 Freeways.All leases are Month to Month.

Last Agent to Sell the Property

Andrew Arambula

ABI Multifamily License #SA688881000 Listed on: 04/06/2022

Co-Listed By

Tom Palestina

ABI Multifamily License #SA688331000

Last Buyer's Agent

Linda Gerchick

Gerchick Real Estate License #BR114848000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $853

Year Built

  • Built in 1960

Home Design

  • Composition Roof
  • Block Exterior

Flooring

  • Concrete Flooring

Parking

  • 3 Parking Spaces
  • 3 Covered Spaces
  • Common or Shared Parking

Utilities

  • Cooling System Mounted To A Wall/Window
  • Central Air
  • Heat Pump System

Listing and Financial Details

  • The owner pays for trash collection, water, sewer
  • Tax Lot 14
  • Assessor Parcel Number 125-13-058-A

Community Details

Overview

  • 3 Units
  • Building Dimensions are 114.05*77.29
  • Palomino Estates Subdivision

Building Details

  • Operating Expense $853

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$853

Year Built

Built in 1960

Lot Details

0

Listing Details

  • Legal Info Range: 4E
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 1
  • Year Built: 1960
  • Tax Year: 2021
  • Road Surface Type: Asphalt, Alley
  • Co List Office Mls Id: abim01
  • Co List Office Phone: 602-714-1400
  • Subdivision Name: PALOMINO ESTATES
  • Tax Parcel Letter: A
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Concrete
  • Appliances Included:Other (See Remarks)56: Yes

Exterior Features

  • Disclosures: Other (See Remarks)
  • Construction Type: Painted, Block
  • Roof: Composition
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 3.0
  • Parking Features: Common
  • Attached Garage: No
  • Total Parking Spaces: 3.0
  • General Property Description:Covered Parking Spcs: 3.0
  • General Property Description:Total Parking Spcs: 3.0
  • Parking:Carport: Yes
  • Parking:Street Parking: Yes
  • Parking:Other (See Remarks)24: Yes

Utilities

  • Electric: Other (See Remarks), APS, SRP
  • Cooling: Central A/C, Heat Pump, Wall/Window Unit(s)
  • Heating: Electric, Other
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes
  • Heating:Other4: Yes

Condo/Co-op/Association

  • Community Features: Other
  • Amenities: Other

Association/Amenities

  • Community Amenities:Other18: Yes

Lot Info

  • Lot Size: 114.05*77.29
  • Additional Parcels: No
  • Parcel #: 125-13-058-A

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Number Of Units Total: 3
  • Annual Operating Expense: 853.0

Tax Info

  • Tax Annual Amount: 853.0
  • Tax Book Number: 125.00
  • Tax Lot: 14

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 3, 2024
Closed on
Dec 12, 2024
Sold by
Capital Fund Reit Llc
Bought by
2018 Rreading Revocable Trust and Reading
Seller's Agent
Jacob Chapman
Realty85
Buyer's Agent
Ashley Karn
Barrett Real Estate
List Price
$850,000
Sold Price
$730,000
Premium/Discount to List
-$120,000
-14.12%
Views
7
Current Estimated Value
$750,667

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$20,667
Avg. Annual Appreciation
7.42%
Original Mortgage
$500,000
Outstanding Balance
$498,253
Interest Rate
6.72%
Mortgage Type
New Conventional
Estimated Equity
$265,414

Purchase Details

Closed on
Sep 17, 2024
Sold by
Mila Investing Llc
Bought by
Capital Fund Reit Llc

Purchase Details

Listed on
Oct 28, 2022
Closed on
Apr 21, 2023
Sold by
Dsc3 Llc
Bought by
Mila Investing Llc
Seller's Agent
Linda Gerchick
Gerchick Real Estate
Buyer's Agent
Robert Johnson
RJ4Homes LLC
List Price
$1,050,000
Sold Price
$1,090,000
Premium/Discount to List
$40,000
3.81%
Views
193

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-14.39%
Original Mortgage
$581,000
Interest Rate
6.73%
Mortgage Type
New Conventional

Purchase Details

Listed on
Apr 6, 2022
Closed on
May 20, 2022
Sold by
Imperial Holdings Llc
Bought by
Dsc3 Llc
Seller's Agent
Andrew Arambula
ABI Multifamily
Buyer's Agent
Linda Gerchick
Gerchick Real Estate
List Price
$749,900
Sold Price
$630,000
Premium/Discount to List
-$119,900
-15.99%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
82.66%
Original Mortgage
$5,238,300
Interest Rate
5.09%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 19, 2012
Sold by
Hcm Investments Llc
Bought by
Imperial Holdings Llc

Purchase Details

Closed on
Jan 5, 2005
Sold by
Bourdeauxburg Llc
Bought by
Hcm Investments Llc

Purchase Details

Closed on
Aug 18, 1999
Sold by
Bourdeaux Herb
Bought by
Bourdeaux Lc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$58,500
Interest Rate
7.64%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 23, 1999
Sold by
Dagburg Llc
Bought by
Bourdeaux Herb A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$58,500
Interest Rate
7.64%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jun 29, 1999
Sold by
Iranco Development Corp
Bought by
Dagburg Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$58,500
Interest Rate
7.64%
Mortgage Type
New Conventional

Purchase Details

Closed on
Nov 20, 1998
Sold by
Ibiza Ltd Holding Llc
Bought by
Palm Tree Associates Llc

Purchase Details

Closed on
Oct 29, 1998
Sold by
Iranco Development Corp
Bought by
Ibiza Ltd Holding Llc

Purchase Details

Closed on
Sep 13, 1995
Sold by
Phoenix Associates Ltd
Bought by
Iranco Development Corp

Purchase Details

Closed on
Sep 12, 1995
Sold by
James Fred C and Carpi Ken
Bought by
Phoenix Associates Ltd
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 Type Sale Price Title Company
Warranty Deed $230,000 Pinnacle Title Services
Trustee Deed $581,000 First National Title
Warranty Deed $1,050,000 Empire Title Agency
Warranty Deed $630,000 New Title Company Name
Quit Claim Deed -- None Available
Quit Claim Deed -- --
Quit Claim Deed -- --
Warranty Deed $84,000 Chicago Title Insurance Co
Trustee Deed $10,645 First American Title
Quit Claim Deed -- --
Quit Claim Deed -- --
Warranty Deed $169,250 First American Title
Warranty Deed -- First American Title
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $500,000 New Conventional
Previous Owner $581,000 New Conventional
Previous Owner $5,238,300 New Conventional
Previous Owner $535,500 New Conventional
Previous Owner $58,500 New Conventional
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/16/2024 12/16/24 Sold $730,000 -2.7% $349 / Sq Ft
12/11/2024 12/11/24 Price Changed $750,000 0.0% $358 / Sq Ft
11/14/2024 11/14/24 Pending -- -- --
10/31/2024 10/31/24 Price Changed $750,000 -6.3% $358 / Sq Ft
10/15/2024 10/15/24 Price Changed $800,000 -5.9% $382 / Sq Ft
10/03/2024 10/03/24 For Sale $850,000 -22.0% $406 / Sq Ft
04/21/2023 04/21/23 Sold $1,090,000 +3.8% $521 / Sq Ft
03/16/2023 03/16/23 Pending -- -- --
10/28/2022 10/28/22 For Sale $1,050,000 +66.7% $502 / Sq Ft
05/24/2022 05/24/22 Sold $630,000 -16.0% $301 / Sq Ft
05/03/2022 05/03/22 For Sale $749,900 0.0% $358 / Sq Ft
05/03/2022 05/03/22 Price Changed $749,900 0.0% $358 / Sq Ft
04/05/2022 04/05/22 For Sale $749,900 -- $358 / 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 $879 $7,320 -- --
2024 $871 $6,972 -- --
2023 $871 $35,100 $7,020 $28,080
2022 $839 $22,210 $4,440 $17,770
2021 $853 $19,960 $3,990 $15,970
2020 $838 $17,460 $3,490 $13,970
2019 $834 $15,460 $3,090 $12,370
2018 $786 $13,070 $2,610 $10,460
2017 $753 $11,710 $2,340 $9,370
2016 $737 $8,400 $1,680 $6,720
2015 $691 $6,660 $1,330 $5,330
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6379052

Arizona Regional Multiple Listing Service (ARMLS)

APN: 125-13-058A