NOT LISTED FOR SALE

1337 E Polk St Phoenix, AZ 85006

Garfield Neighborhood
11 Beds
2 Baths
16,033 Sq Ft
2022 Built

Last Sold March 31, 2022

Last sale price $4,275,000 $267 Per Sq Ft

76 Days on Market

Highlights

  • Cooling Available
  • Concrete Flooring
  • Heat Pump System
  • Phoenix Coding Academy Rated A

About This Home

As of March 2022

Polk Bungalows, a currently under construction, boutique 10-unit single family built to rent community situated on a one half acre parcel in Downtown Phoenix, Arizona. This one-of-a-kind property featuring tastefully designed, modern architecture by Aaron Bass of Stance Architecture is located in the rapidly gentrifying historic district of Garfield, minutes away from and 1 mile walking distance to both Downtown Phoenix and nationally recognized Roosevelt Row Arts District - contributing to a high rental demand and strong tenant base for this vibrant urban infill location. The property consists of a single freestanding 1,378 square foot historic house originally built in 1900 offering 2 bedrooms and 2 baths, and currently being rebuilt from the inside out with modern amenities and high end finishes, as well as 9 modern and sleek casita bungalows offering 1 bedroom 1.5 bath spacious floor plans with 884 square feet. Polk Bungalows will provide an attractive and coveted urban rental experience with unique architectural features of: expansive floor to ceiling windows and doors, ground concrete floors, modern finishes and fixtures throughout, vegetation walls, and private patio spaces.

Construction is scheduled to be completed by the end of February 2022, with the property manager set to begin pre-leasing in January 2022.

Last Agent to Sell the Property

Shawn Beaird

Urban Luxe Real Estate License #BR633945000 Listed on: 12/03/2021

Last Buyer's Agent

Non-MLS Agent

Non-MLS Office

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,312

Year Built

  • Built in 2022

Lot Details

  • Additional Parcels

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Metal Roof
  • Block Exterior
  • Stucco

Flooring

  • Concrete
  • Vinyl

Parking

  • 4 Open Parking Spaces
  • 14 Parking Spaces
  • 10 Covered Spaces
  • Common or Shared Parking
  • On-Street Parking
  • Assigned Parking

Schools

  • Kenilworth Elementary School
  • Whittier Elementary School - Phoenix Middle School
  • Central High School

Utilities

  • Cooling Available
  • Heat Pump System
  • Individual Controls for Heating
  • Master Water Meter

Listing and Financial Details

  • Tenant pays for trash collection, electricity, water, sewer
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 12
  • Assessor Parcel Number 116-25-174

Community Details

Overview

  • 10 Buildings
  • 10 Units
  • Building Dimensions are 200' x 109'

Building Details

  • Operating Expense $36,673
  • Gross Income $237,500
  • Net Operating Income $190,559

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,312

Year Built

Built in 2022

Lot Details

0

Listing Details

  • Cross Street: 16th St & Van Buren St.
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R-5, HP
  • Number Of Buildings: 10
  • Ownership: Fee Simple
  • Year Built: 2022
  • Tax Year: 2021
  • Road Surface Type: Asphalt
  • Professional Management Expense: 11911.0
  • Special Features: NewHome
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Vinyl, Concrete
  • Appliances: F/S Oven/Range, Microwave, Washer/Dryer
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Microwave2: Yes
  • Appliances Included:WasherDryer: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Dishwasher2: Yes
  • Appliances Included:Disposal2: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm, ALTA Survey Availbl
  • Construction Type: Painted, Stucco, Block, Frame - Wood
  • Roof: Composition, Metal
  • Construction:Frame - Wood: Yes
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 10.0
  • Parking Features: Assigned, >1 Space Per Unit, 1 Space/Unit, Street Parking, Common
  • Attached Garage: No
  • Open Parking Spaces: 4.0
  • Total Parking Spaces: 14.0
  • General Property Description:Covered Parking Spcs: 10.0
  • General Property Description:Uncvrd Parking Spcs: 4.0
  • General Property Description:Total Parking Spcs: 14.0
  • Parking:Carport: Yes
  • Parking:Street Parking: Yes
  • Parking:_greater_1 Space Per Unit: Yes
  • Parking:Assigned: Yes
  • Parking:_one_ SpaceUnit: Yes

Utilities

  • Electric: APS
  • Cooling: Individual, Heat Pump, Electric
  • Heating: Individual, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Master Meter
  • Heating:Electric: Yes
  • Heating:Individual: Yes

Condo/Co-op/Association

  • Community Features: Other, No Pool

Association/Amenities

  • Exterior Amenities:Landscape Wtr System: Yes
  • Exterior Amenities:PatioBalcony: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Partially Fenced: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Fire Sprinklers2: Yes

Fee Information

  • Annual Water Sewer Expense: 8000.0

Schools

  • Elementary School: Kenilworth Elementary School
  • High School: Central High School
  • Junior High Dist: Phoenix Union High School District
  • Middle Or Junior School: Whittier Elementary School - Phoenix

Lot Info

  • Lot Size: 200' x 109'
  • Additional Parcels: Yes
  • Parcel #: 116-25-174

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Trash Collection, Electricity, Water, Sewer
  • Number Of Units Total: 10
  • Electric Expense: 2000.0
  • Annual Gross Income: 237500.4
  • Insurance Expense: 3000.0
  • Maintenance Expense: 6000.0
  • Property Net Operating Income: 190559.0
  • Annual Operating Expense: 36673.0
  • Vacancy Allowance Rate: 0.06

Tax Info

  • Tax Annual Amount: 3312.0
  • Tax Book Number: 116.00
  • Tax Lot: 12

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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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 List to Sale Price per Sq Ft
03/31/2022 03/31/22 Sold $4,275,000 -0.6% $267 / Sq Ft
02/16/2022 02/16/22 Pending -- -- --
12/02/2021 12/02/21 For Sale $4,300,000 -- $268 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • S

    Seller's Agent in 2022

    Shawn Beaird

    Urban Luxe Real Estate

  • N

    Buyer's Agent in 2022

    Non-MLS Agent

    Non-MLS Office

See All Agents

Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6327872

Arizona Regional Multiple Listing Service (ARMLS)
Arizona Maricopa County Phoenix 85006 Garfield

1337 E Polk St, Phoenix, AZ

Not Listed for Sale

MultiFamily

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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