$485,000
SOLD DEC 15, 2015
-- Bed
-- Bath
850 Sq Ft
7,841 Sq Ft Lot

Recently Sold

$571 Per Sq Ft

2 Days on Market

Highlights

  • Wood Flooring
  • Franklin at Brimhall Elementary School Rated A
  • Central Heating and Cooling System

About This Home

As of December 2016

Excellent cash flow turn key property! Long term tenants with units featuring large patios and two units with backyards. All units were remodeled in 2010 and feature granite tile countertops newer cabinets. All but one unit has tile throughout, making for easy upkeep. Building exterior was repainted in 2010. All facts and figures approximate, buyer to verify to their satisfaction including MLS info.

Last Agent to Sell the Property

Zachary Chandler

HomeSmart License #SA659178000 Listed on: 10/27/2015

Last Buyer's Agent

Sophia Baron

Grace CRE License #BR648866000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,992

Year Built

  • Built in 1982

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Stucco

Flooring

  • Wood
  • Ceramic Tile

Parking

  • 16 Parking Spaces
  • 8 Covered Spaces
  • Common or Shared Parking
  • Paved Parking
  • Assigned Parking

Schools

  • Kerr Elementary School
  • Kino Junior High School
  • Westwood High School

Utilities

  • Central Heating and Cooling System
  • Individual Controls for Heating
  • Master Water Meter

Listing and Financial Details

  • Tenant pays for electricity, cable TV
  • The owner pays for trash collection, water, sewer
  • Tax Lot 21
  • Assessor Parcel Number 136-22-021-B

Community Details

Overview

  • 2 Buildings
  • 7 Units
  • Building Dimensions are 16856

Building Details

  • Gross Income $57,057
  • Net Operating Income $37,635

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,992

Year Built

Built in 1982

Lot Details

0

Listing Details

  • Cross Street: Brown and Center
  • Legal Info Range: 5E
  • Property Type: Multiple Dwellings
  • Zoning: M-H
  • Number Of Buildings: 2
  • Ownership: Fee Simple
  • Year Built: 1982
  • Tax Year: 2015
  • Directions: West on Brown Road and North on Center. Pass Hohokam Park and turn East to Shill
  • Road Surface Type: Asphalt
  • Professional Management Expense: 4564.56
  • Tax Parcel Letter: B
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Ceramic Tile, Wood
  • Appliances: F/S Oven/Range, Microwave, W/D Hookup
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Microwave2: Yes
  • Appliances Included:WD Hookup: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Dishwasher2: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Painted, Stucco, Frame - Wood
  • Roof: Composition
  • Construction:Frame - Wood: Yes

Garage/Parking

  • Total Covered Spaces: 8.0
  • Parking Features: Paved Parking, Assigned, 1 Space/Unit, Common
  • Attached Garage: No
  • Open Parking Spaces: 8.0
  • Total Parking Spaces: 16.0
  • General Property Description:Covered Parking Spcs: 8.0
  • General Property Description:Uncvrd Parking Spcs: 8.0
  • General Property Description:Total Parking Spcs: 16.0
  • Parking:Carport: Yes
  • Parking:Paved Parking: Yes
  • Parking:Assigned: Yes

Utilities

  • Electric: SRP, Individual Meter
  • Cooling: Central A/C, Individual
  • Heating: Individual, Central, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Master Meter
  • Heating:Electric: Yes
  • Heating:Individual: Yes
  • Heating:Central: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Green Landscaping: Yes
  • Exterior Amenities:Fenced3: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Exterior Amenities:PatioBalcony: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Separate Storage: Yes
  • Interior Amenities:Unfurnished: Yes
  • Interior Amenities:Vertical Blinds2: Yes

Fee Information

  • Annual Water Sewer Expense: 6100.0

Schools

  • Elementary School: Kerr Elementary School
  • High School: Westwood High School
  • Junior High Dist: Mesa Unified District
  • Middle Or Junior School: Kino Junior High School

Lot Info

  • Lot Size: 16856
  • Additional Parcels: No
  • Parcel #: 136-22-021-B

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Tenant Pays: Electricity, Cable TV
  • Number Of Units Total: 7
  • Annual Gross Income: 57057.0
  • Insurance Expense: 1200.0
  • Maintenance Expense: 4248.0
  • Property Net Operating Income: 37635.44
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 1992.0
  • Tax Book Number: 136.00
  • Tax Lot: 21

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 6, 2016
Closed on
Nov 22, 2016
Sold by
924 Properties Llc
Bought by
Courts Hualapai Llc
Seller's Agent
Sophia Baron
Grace CRE
Buyer's Agent
David Clark
America's All In One Real Estate Services, Inc.
List Price
$600,000
Sold Price
$590,000
Premium/Discount to List
-$10,000
-1.67%
Current Estimated Value
$481,333

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$108,667
Avg. Annual Appreciation
-4.46%

Purchase Details

Listed on
Oct 27, 2015
Closed on
Dec 2, 2015
Sold by
Prock Tyler
Bought by
Emanuel Chrisopoulos and Chrisopou Carol K
Seller's Agent
Zachary Chandler
HomeSmart
Buyer's Agent
Sophia Baron
Grace CRE
List Price
$482,900
Sold Price
$485,000
Premium/Discount to List
$2,100
0.43%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
22.39%
Original Mortgage
$155,000
Interest Rate
3.83%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 15, 2008
Sold by
Pengelly John J and Greenpoint Mortgage Funding In
Bought by
Deutsche Bank National Trust Company

Purchase Details

Closed on
May 19, 2005
Sold by
R D Johnson Group
Bought by
Pengelly John

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$212,000
Interest Rate
7.12%
Mortgage Type
Fannie Mae Freddie Mac

Purchase Details

Closed on
May 11, 2005
Sold by
Pengelly Sheri L
Bought by
Pengelly John J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$212,000
Interest Rate
7.12%
Mortgage Type
Fannie Mae Freddie Mac

Purchase Details

Closed on
Jan 13, 2004
Sold by
Henry Anthony D and Henry Joanne C
Bought by
Johnson Douglas and Johnson Rebecca K

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$115,500
Interest Rate
5.82%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 3, 2003
Sold by
Henry Evelyn Marlene
Bought by
Henry Evelyn M

Purchase Details

Closed on
Jul 21, 1995
Sold by
Henry Darrell E and Henry Evelyn M
Bought by
Henry Darrell Eugene and Henry Evelyn Marlene
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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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
Cash Sale Deed $590,000 Security Title Agency
Warranty Deed $207,500 First Arizona Title Agency
Trustee Deed $150,000 Old Republic Title Agency
Warranty Deed $265,000 Title Security Agency Of Az
Interfamily Deed Transfer -- Title Security Agency Of Az
Warranty Deed $154,000 Lawyers Title Insurance Corp
Interfamily Deed Transfer -- First Southwestern Title
Interfamily Deed Transfer -- --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $155,000 New Conventional
Previous Owner $212,000 Fannie Mae Freddie Mac
Previous Owner $115,500 New Conventional
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/02/2016 12/02/16 Sold $590,000 -1.7% $694 / Sq Ft
10/05/2016 10/05/16 For Sale $600,000 +23.7% $706 / Sq Ft
12/15/2015 12/15/15 Sold $485,000 +0.4% $571 / Sq Ft
10/29/2015 10/29/15 Pending -- -- --
10/27/2015 10/27/15 For Sale $482,900 -- $568 / 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 $964 $9,821 -- --
2024 $972 $9,353 -- --
2023 $972 $21,820 $8,040 $13,780
2022 $952 $17,640 $6,500 $11,140
2021 $963 $16,720 $6,160 $10,560
2020 $951 $15,120 $5,570 $9,550
2019 $888 $15,500 $3,100 $12,400
2018 $853 $16,970 $3,390 $13,580
2017 $827 $11,210 $2,240 $8,970
2016 $812 $10,580 $2,110 $8,470
2015 $763 $9,150 $1,830 $7,320
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5354218

Arizona Regional Multiple Listing Service (ARMLS)

APN: 136-22-021B