NOT LISTED FOR SALE

1508 E Highland Ave Phoenix, AZ 85014

Camelback East Village Neighborhood

Estimated Value: $549,028 - $1,283,000

-- Bed
-- Bath
1,606 Sq Ft
$481/Sq Ft Est. Value

Last Sold January 04, 2019

Last sale price $705,000 $439 Per Sq Ft

Est. 9% increase in value since last sale

Current estimated payment $4,137/month

212 Days on Market

Highlights

  • Ceramic Tile Flooring
  • Central Air
  • Heating Available
  • Phoenix Coding Academy Rated A

About This Home

As of January 2019

Location Location Location - Fantastic Biltmore area. Rarely available units in this area. Almost never vacant. Long term tenants. Great long term hold or redevelopment play. Selling as a Fourplex, but technically two duplexes on two separate lots.
Do not disturb tenants or visit the property without permission from Listing agent.

Last Agent to Sell the Property

Douglas Davies

DMD Real Estate Group License #SA515224000 Listed on: 04/19/2018

Last Buyer's Agent

Russell Shaw

Realty One Group License #BR008345000

Realty One Group

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $877

Year Built

  • Built in 1956

Lot Details

  • Additional Parcels

Home Design

  • Composition Roof
  • Block Exterior

Flooring

  • Carpet
  • Ceramic Tile

Parking

  • 8 Parking Spaces
  • 4 Covered Spaces
  • Common or Shared Parking

Utilities

  • Central Air
  • Heating Available

Listing and Financial Details

  • Tenant pays for electricity
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 8
  • Assessor Parcel Number 155-01-035

Community Details

Overview

  • 2 Buildings
  • 4 Units
  • Building Dimensions are 108 x 74
  • Mossele Place Subdivision

Building Details

  • Operating Expense $11,607
  • Net Operating Income $41,642

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$877

Year Built

Built in 1956

Lot Details

0

Listing Details

  • Cross Street: 16th St. and Highland Ave.
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 2
  • Ownership: Fee Simple
  • Year Built: 1956
  • Tax Year: 2017
  • Road Surface Type: Asphalt
  • Subdivision Name: MOSSELE PLACE
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Ceramic Tile
  • Appliances: F/S Oven/Range, Microwave, Washer/Dryer, W/D Hookup
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Microwave2: Yes
  • Appliances Included:WasherDryer: Yes
  • Appliances Included:WD Hookup: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Dishwasher2: Yes
  • Appliances Included:Disposal2: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Painted, Block
  • Roof: Composition
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 4.0
  • Parking Features: >1 Space Per Unit, Common
  • Attached Garage: No
  • Open Parking Spaces: 4.0
  • Total Parking Spaces: 8.0
  • General Property Description:Covered Parking Spcs: 4.0
  • General Property Description:Uncvrd Parking Spcs: 4.0
  • General Property Description:Total Parking Spcs: 8.0
  • Parking:Carport: Yes
  • Parking:_greater_1 Space Per Unit: Yes

Utilities

  • Electric: APS
  • Cooling: Central A/C
  • Heating: Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Community Amenities:No Pool: Yes

Fee Information

  • Trash Expense: 1320.0
  • Annual Water Sewer Expense: 3000.0

Schools

  • Junior High Dist: Phoenix Union High School District

Lot Info

  • Lot Size: 108 x 74
  • Additional Parcels: Yes
  • Parcel #: 155-01-035

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Electricity
  • Number Of Units Total: 4
  • Electric Expense: 170.0
  • Insurance Expense: 1200.0
  • Maintenance Expense: 1200.0
  • Property Net Operating Income: 41641.62
  • Annual Operating Expense: 11607.0

Tax Info

  • Tax Annual Amount: 877.0
  • Tax Book Number: 155.00
  • Tax Lot: 8

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 19, 2018
Closed on
Jan 2, 2019
Sold by
Smith Drew A and Smith Ranae E
Bought by
The Golden Parachute Trust
Seller's Agent
Douglas Davies
DMD Real Estate Group
Buyer's Agent
Russell Shaw
Realty One Group
List Price
$865,000
Sold Price
$705,000
Premium/Discount to List
-$160,000
-18.5%
Current Estimated Value
$771,757

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$66,757
Avg. Annual Appreciation
1.34%
Original Mortgage
$176,250
Outstanding Balance
$155,582
Interest Rate
4.8%
Mortgage Type
New Conventional
Estimated Equity
$616,175

Purchase Details

Listed on
Apr 19, 2018
Closed on
Dec 28, 2018
Sold by
Property Ventrues Arizona Llc
Bought by
Smith Drew A and Smith Ranae E
Seller's Agent
Douglas Davies
DMD Real Estate Group
Buyer's Agent
Russell Shaw
Realty One Group
List Price
$865,000
Sold Price
$705,000
Premium/Discount to List
-$160,000
-18.5%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$176,250
Outstanding Balance
$155,582
Interest Rate
4.8%
Mortgage Type
New Conventional
Estimated Equity
$616,175

Purchase Details

Closed on
Oct 31, 2014
Sold by
Mccormick Shane
Bought by
Property Ventures Arizona Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$128,250
Interest Rate
4.08%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 19, 2014
Sold by
Lorant Jan E
Bought by
Mccormick Shane

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$128,250
Interest Rate
4.08%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 15, 2014
Sold by
Mccormick Blythe Colbi
Bought by
Mccormick Shane

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$128,250
Interest Rate
4.08%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 8, 1998
Sold by
Lorant Jan E
Bought by
Lorant Jan E and Jan E Lorant Separate Property Trust
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 Buyer Sale Price Title Company
The Golden Parachute Trust -- Accommodation
Smith Drew A $352,500 Wfg National Title Insurance
Property Ventures Arizona Llc -- Accommodation
Mccormick Shane $171,000 U S Title Ageney Llc
Mccormick Shane -- U S Title Agency Llc
Lorant Jan E -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Smith Drew A $176,250
Previous Owner Mccormick Shane $128,250
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/04/2019 01/04/19 Sold $705,000 -4.7% $439 / Sq Ft
12/18/2018 12/18/18 Price Changed $739,900 0.0% $461 / Sq Ft
11/17/2018 11/17/18 Pending -- -- --
11/07/2018 11/07/18 Price Changed $739,900 -1.1% $461 / Sq Ft
10/20/2018 10/20/18 Price Changed $747,900 -3.5% $466 / Sq Ft
08/08/2018 08/08/18 Price Changed $774,900 -3.0% $483 / Sq Ft
07/06/2018 07/06/18 Price Changed $799,000 -5.9% $498 / Sq Ft
05/14/2018 05/14/18 Price Changed $849,000 -1.8% $529 / Sq Ft
04/19/2018 04/19/18 For Sale $865,000 -- $539 / 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 $1,079 $8,282 -- --
2024 $1,001 $7,888 -- --
2023 $1,001 $40,620 $8,120 $32,500
2022 $971 $29,610 $5,920 $23,690
2021 $980 $25,230 $5,040 $20,190
2020 $964 $20,330 $4,060 $16,270
2019 $943 $16,180 $3,230 $12,950
2018 $920 $12,900 $2,580 $10,320
2017 $877 $13,010 $2,600 $10,410
2016 $847 $9,700 $1,940 $7,760
2015 $786 $7,670 $1,530 $6,140
Source: Public Records

Agents Affiliated with this Home

  • Douglas Davies

    Seller's Agent in 2019

    Douglas Davies

    DMD Real Estate Group

    (602) 550-8989

    3 Total Sales

    Douglas Davies
    Section Image
  • Russell Shaw

    Buyer's Agent in 2019

    Russell Shaw

    Realty One Group

    (602) 957-7777

    11 in this area

    418 Total Sales

    Russell Shaw
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5754295

Arizona Regional Multiple Listing Service (ARMLS)

APN: 155-01-035

Arizona Maricopa County Phoenix 85014 Camelback East Village

1508 E Highland Ave, 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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