NOT LISTED FOR SALE
1 Bed
1 Bath
500 Sq Ft
0.96 Acres

Last Sold March 16, 2015

Last sale price $1,200,000 $2,400 Per Sq Ft

Highlights

  • Cooling Available
  • Individual Controls for Heating
  • 4-minute walk to Sunnyslope Rock Garden
  • Sunnyslope High School Rated A

About This Home

As of March 2015

Awesome opportunity! Rehabbed units that were well cared for and maintained. All units have A/C's. Single story
building is currently master metered. There are 2 coin operated washer and dryers for added income! This is a great
investment located near the North Mountains.

Last Agent to Sell the Property

Terry Kass

Coldwell Banker Commercial Realty License #BR503783000 Listed on: 03/04/2015

Coldwell Banker Commercial Realty

Last Buyer's Agent

L Head

Gerchick Real Estate License #SA557715000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,602

Year Built

  • Built in 1980

Lot Details

  • 0.96

Home Design

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

Parking

  • 25 Open Parking Spaces
  • 43 Parking Spaces
  • 18 Covered Spaces
  • Assigned Parking

Utilities

  • Cooling Available
  • Individual Controls for Heating
  • Master Water Meter

Listing and Financial Details

  • Tenant pays for cable TV
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 24
  • Assessor Parcel Number 159-29-015

Community Details

Overview

  • 2 Buildings
  • 25 Units
  • Building Dimensions are 150x280

Building Details

  • Operating Expense $63,102
  • Gross Income $147,143
  • Net Operating Income $80,176

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,602

Year Built

Built in 1980

Lot Details

0

Listing Details

  • Cross Street: CAVE CREEK & DUNLAP
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 2
  • Year Built: 1980
  • Tax Year: 2014
  • Road Surface Type: Asphalt, Sidewalk(s)
  • Professional Management Expense: 10000.0
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances Included:FS OvenRange: Yes

Exterior Features

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

Garage/Parking

  • Total Covered Spaces: 18.0
  • Parking Features: Assigned
  • Attached Garage: No
  • Open Parking Spaces: 25.0
  • Total Parking Spaces: 43.0
  • General Property Description:Covered Parking Spcs: 18.0
  • General Property Description:Uncvrd Parking Spcs: 25.0
  • General Property Description:Total Parking Spcs: 43.0
  • Parking:Free: Yes
  • Parking:Street Parking: Yes
  • Parking:Paved Parking: Yes
  • Parking:Add_squote_l Parking Avail: Yes
  • Parking:_one_ SpaceUnit: Yes

Utilities

  • Electric: APS, Individual Meter
  • Cooling: Individual, 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: No Pool

Association/Amenities

  • Exterior Amenities:Landscape Wtr System: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Exterior Amenities:PatioBalcony: Yes
  • Exterior Amenities:Security Light(s)3: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Interior Amenities:Mini Blinds: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Partially Fenced: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Exterior Amenities:Separate Storage: Yes
  • Interior Amenities:Unfurnished: Yes

Fee Information

  • Annual Water Sewer Expense: 18000.0

Lot Info

  • Lot Size: 150x280
  • Additional Parcels: No
  • Parcel #: 159-29-015

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Cable TV
  • Number Of Units Total: 25
  • Electric Expense: 12000.0
  • Annual Gross Income: 147142.8
  • Insurance Expense: 5000.0
  • Maintenance Expense: 12000.0
  • Property Net Operating Income: 80176.0
  • Annual Operating Expense: 63101.51
  • Vacancy Allowance Rate: 0.1

Tax Info

  • Tax Annual Amount: 2601.51
  • Tax Book Number: 159.00
  • Tax Lot: 24
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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 Prior Sale
03/16/2015 03/16/15 Sold $1,200,000 0.0% $2,400 / Sq Ft
03/04/2015 03/04/15 Pending -- -- --
03/04/2015 03/04/15 For Sale $1,200,000 0.0% $2,400 / Sq Ft
02/27/2015 02/27/15 Sold $1,200,000 0.0% $2,400 / Sq Ft View Prior Sale
01/22/2015 01/22/15 Pending -- -- --
01/13/2015 01/13/15 For Sale $1,200,000 +71.4% $2,400 / Sq Ft
07/31/2013 07/31/13 Sold $700,000 -17.6% $1,400 / Sq Ft View Prior Sale
07/16/2013 07/16/13 Pending -- -- --
03/29/2013 03/29/13 For Sale $850,000 +1.9% $1,700 / Sq Ft
01/02/2013 01/02/13 Sold $834,000 -3.5% $1,668 / Sq Ft View Prior Sale
12/02/2012 12/02/12 Pending -- -- --
05/28/2012 05/28/12 For Sale $864,000 -- $1,728 / 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 $9,614 $75,650 -- --
2024 $9,084 $72,048 -- --
2023 $9,084 $297,380 $59,470 $237,910
2022 $8,788 $224,600 $44,920 $179,680
2021 $8,901 $154,160 $30,830 $123,330
2020 $8,679 $129,830 $25,960 $103,870
2019 $8,520 $119,230 $23,840 $95,390
2018 $8,297 $86,880 $17,370 $69,510
2017 $8,255 $77,470 $15,490 $61,980
2016 $7,277 $72,760 $14,550 $58,210
2015 $2,953 $58,820 $11,760 $47,060
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5244931

Arizona Regional Multiple Listing Service (ARMLS)