NOT LISTED FOR SALE

Estimated Value: $623,000 - $935,000

Studio
-- Bath
1,920 Sq Ft
$395/Sq Ft Est. Value

Sale Details

Date Sold: September 30, 2020

Last sale price $602,500 $314 Per Sq Ft

Est. 26% increase in value since last sale

Current estimated payment $4,172 / mo

96 Days on Market

Highlights

  • Cooling Available
  • Patio
  • Partially Fenced Property
  • Phoenix Coding Academy Rated A
  • Ceramic Tile Flooring
  • Heating Available

About This Home

As of September 2020

Excellent investment opportunity in the heart of Phoenix. Fully occupied 4 unit garden style building in The Garfield District. Completely renovated building with new kitchens, bathrooms, flooring, fixtures, private yards and parking. This a a turn-key cash flow opportunity with long term leases in place and a 6.5% CAP Rate. Centrally located near ASU, UofA, Banner, VA and all the lifestyle services Downtown Phoenix has to offer.

Last Agent to Sell the Property

Brook Miller

RE/MAX Fine Properties License #BR533974000 Listed on: 05/09/2020

RE/MAX Fine Properties

Last Buyer's Agent

Corey Condit

eXp Realty License #BR584884000

eXp Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $904

Year Built

  • Built in 1936

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Stucco

Parking

  • 6 Open Parking Spaces
  • 6 Parking Spaces
  • Parking Available
  • Paved Parking
  • On-Street Parking

Schools

  • Garfield Elementary School
  • Phoenix Prep Academy Middle School
  • North High School

Utilities

  • Cooling Available
  • Heating Available

Additional Features

  • Ceramic Tile Flooring
  • Patio
  • Partially Fenced Property

Listing and Financial Details

  • Tenant pays for electricity, gas
  • The owner pays for water, sewer, trash collection
  • Legal Lot and Block 6 / 1
  • Assessor Parcel Number 116-19-183

Community Details

Overview

  • 4 Units
  • Building Dimensions are 6,992
  • Wallace Tract Subdivision

Building Details

  • Operating Expense $6,904
  • Gross Income $49,020
  • Net Operating Income $42,116

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$904

Year Built

Built in 1936

Lot Details

0 Sq Ft Lot

Listing Details

  • Cross Street: 16th St & ROOSEVELT
  • Property Type: Multiple Dwellings
  • Zoning: R-4
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1936
  • Tax Year: 2019
  • Road Surface Type: Asphalt
  • Subdivision Name: WALLACE TRACT
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Ceramic Tile
  • Appliances: Free-Standing Range, Refrigerator, Microwave

Exterior Features

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

Garage/Parking

  • Parking Features: 1 Space/Unit, Paved, On Street
  • Attached Garage: No
  • Open Parking Spaces: 6.0
  • Total Parking Spaces: 6.0

Utilities

  • Electric: APS
  • Cooling: Electric
  • Heating: Electric, Varies by Unit
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise

Condo/Co-op/Association

  • Community Features: No Pool

Fee Information

  • Annual Water Sewer Expense: 4800.0

Schools

  • Elementary School: Garfield School
  • High School: North High School
  • Junior High Dist: Phoenix Union High School District
  • Middle Or Junior School: Phoenix Prep Academy

Lot Info

  • Lot Size: 6,992
  • Additional Parcels: No
  • Parcel #: 116-19-183

Multi Family

  • Owner Pays: Water, Sewer, Trash Collection
  • Tenant Pays: Electricity, Gas
  • Number Of Units Total: 4
  • Annual Gross Income: 49020.0
  • Insurance Expense: 1200.0
  • Property Net Operating Income: 42116.0
  • Annual Operating Expense: 6904.0

Tax Info

  • Tax Annual Amount: 904.0
  • Tax Block: 1
  • Tax Book Number: 116.0
  • Tax Lot: 6

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
May 9, 2020
Closed on
Oct 1, 2020
Sold by
Bought by
Seller's Agent
Brook Miller
RE/MAX Fine Properties
Buyer's Agent
Corey Condit
eXp Realty
List Price
$650,000
Sold Price
$602,500
Premium/Discount to List
-$47,500
-7.31%
Current Estimated Value
$757,593

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$155,093
Avg. Annual Appreciation
4.12%
Original Mortgage
$442,500
Outstanding Balance
$393,580
Interest Rate
2.9%
Mortgage Type
New Conventional
Estimated Equity
$364,013

Purchase Details

Listed on
May 9, 2020
Closed on
Sep 24, 2020
Sold by
Bought by
Seller's Agent
Brook Miller
RE/MAX Fine Properties
Buyer's Agent
Corey Condit
eXp Realty
List Price
$650,000
Sold Price
$602,500
Premium/Discount to List
-$47,500
-7.31%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$442,500
Outstanding Balance
$393,580
Interest Rate
2.9%
Mortgage Type
New Conventional
Estimated Equity
$364,013

Purchase Details

Listed on
May 10, 2019
Closed on
Jun 18, 2019
Sold by
Bought by
Seller's Agent
Chad Vice
HomeSmart
Buyer's Agent
Brook Miller
RE/MAX Fine Properties
List Price
$309,900
Sold Price
$292,000
Premium/Discount to List
-$17,900
-5.78%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
76.10%

Purchase Details

Closed on
Mar 25, 2019
Sold by
Bought by

Purchase Details

Closed on
Apr 27, 2010
Sold by
Bought by

Purchase Details

Closed on
Mar 26, 2009
Sold by
Bought by

Purchase Details

Closed on
May 14, 2008
Sold by
Bought by

Purchase Details

Closed on
May 23, 2006
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$256,500
Interest Rate
8.87%
Mortgage Type
Adjustable Rate Mortgage/ARM

Purchase Details

Closed on
Nov 1, 2005
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$256,500
Interest Rate
8.87%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 21, 2004
Sold by
Bought by

Purchase Details

Closed on
Jul 2, 2004
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$101,600
Interest Rate
6.31%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jul 1, 2004
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$101,600
Interest Rate
6.31%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jun 29, 2004
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$101,600
Interest Rate
6.31%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
May 10, 2002
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$88,400
Interest Rate
6.86%

Purchase Details

Closed on
Dec 26, 2000
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$82,705
Interest Rate
8.9%
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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
-- Clear Title Agency Of Az
-- Clear Title Agency Of Az
$602,500 Clear Title Agency Of Az
$292,000 Valleywide Title Agency
$235,000 Valleywide Title Agency
-- None Available
$37,500 Lsi Title Agency
$164,940 None Available
$50,000 Stewart Title & Trust Of Pho
$285,000 Stewart Title & Trust Of Pho
-- Security Title Agency Inc
$133,000 Fidelity National Title
$6,000 Fidelity National Title
-- Fidelity National Title
-- Capital Title Agency Inc
-- Capital Title Agency
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $442,500
Previous Owner $256,500
Previous Owner $256,500
Previous Owner $101,600
Previous Owner $101,600
Previous Owner $88,400
Previous Owner $82,705
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft Prior Sale
09/30/2020 09/30/20 Sold $602,500 -7.3% $314 / Sq Ft
09/26/2020 09/26/20 For Sale $650,000 0.0% $339 / Sq Ft
09/26/2020 09/26/20 Price Changed $650,000 0.0% $339 / Sq Ft
09/16/2020 09/16/20 For Sale $650,000 0.0% $339 / Sq Ft
09/16/2020 09/16/20 Price Changed $650,000 0.0% $339 / Sq Ft
05/09/2020 05/09/20 For Sale $650,000 +122.6% $339 / Sq Ft
06/19/2019 06/19/19 Sold $292,000 -5.8% $152 / Sq Ft View Prior Sale
06/06/2019 06/06/19 Pending -- -- --
05/17/2019 05/17/19 For Sale $309,900 0.0% $161 / Sq Ft
05/13/2019 05/13/19 Pending -- -- --
05/10/2019 05/10/19 For Sale $309,900 -- $161 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $1,003 $7,060 -- --
2024 $935 $6,723 -- --
2023 $935 $40,210 $8,040 $32,170
2022 $902 $26,660 $5,330 $21,330
2021 $895 $21,280 $4,250 $17,030
2020 $905 $17,580 $3,510 $14,070
2019 $904 $14,170 $2,830 $11,340
2018 $888 $11,830 $2,360 $9,470
2017 $868 $11,480 $2,290 $9,190
2016 $843 $8,460 $1,690 $6,770
2015 $780 $6,670 $1,330 $5,340
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6076921

Arizona Regional Multiple Listing Service (ARMLS)

APN: 116-19-183

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