NOT LISTED FOR SALE

1545 W Colter St Phoenix, AZ 85015

Alhambra Neighborhood
2 Beds
1 Bath
800 Sq Ft
1965 Built

Last Sold October 24, 2019

Last sale price $3,050,000 $3,812 Per Sq Ft

69 Days on Market

Highlights

  • Heated Community Pool
  • Central Heating and Cooling System
  • Ceiling Fan
  • Solano School Rated 9+

About This Home

As of October 2019

Fully Renovated, Turn-key Property, Yardz on Colter features
16 units in 4 one-story buildings resting on a 1.21-acre site. Featuring vintage,
mid-century modern architecture, the buildings are constructed of concrete
block with pitched roofs. All units enjoy a two-bedroom / one-bathroom
floorplan. The apartments are individually metered for electricity, hot water, and
have individual HVACs. The kitchens are equipped with stainless-steel
appliances (refrigerator, microwave, range / oven, and dishwasher),
contemporary cabinetry, quartz countertops, tiled backsplash, a garbage
disposal, and a stainless-steel sink and faucet. Each unit enjoys vinyl wood-like
flooring, ceiling fans, walk-in closets, contemporary bathrooms, interior washer
/ dryer, modern finishes, new windows and doors, and a spacious, private gated
patio. Tenants enjoy the use of a community swimming pool with pool furniture,
a spacious yard with gazebo, some additional storage, a resurfaced parking lot,
and covered parking. Yardz on Colter Apartments is a 16-unit, garden-style apartment community
located in the Opportunity Zone in Phoenix, AZ. The property's convenient location provides residents
with direct access to all areas of the Valley by way of Interstate 17 and the Valley
Metro Light Rail. There are numerous dining, shopping, and entertainment
options within proximity to the property including Olive Garden, Costco, and
Harkins Theatres. The Central Corridor of Uptown, Midtown, and Downtown,
along with Grand Canyon University, provide many employment and education
opportunities convenient to the property.

Last Agent to Sell the Property

Royce Munroe

Munroe Multifamily License #BR512795000 Listed on: 05/24/2019

Munroe Multifamily

Last Buyer's Agent

Mark Skelpsa

HomeSmart Realty License #SA642313000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,662

Year Built

  • Built in 1965

Home Design

  • Composition Roof
  • Block Exterior

Interior Spaces

  • Ceiling Fan

Parking

  • 32 Parking Spaces
  • 16 Covered Spaces
  • Paved Parking

Utilities

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

Listing and Financial Details

  • Tenant pays for electricity
  • The owner pays for trash collection, water, sewer
  • Tax Lot 5
  • Assessor Parcel Number 156-38-018

Community Details

Overview

  • 4 Buildings
  • 16 Units
  • Building Dimensions are Unknown

Recreation

  • Heated Community Pool

Building Details

  • Operating Expense $55,293
  • Gross Income $247,228
  • Net Operating Income $192,515

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,662

Year Built

Built in 1965

Lot Details

0

Listing Details

  • Cross Street: Camelback Rd & 15th Ave
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 4
  • Ownership: Fee Simple
  • Year Built: 1965
  • Tax Year: 2018
  • Directions: North to Colter Street. West to Property.
  • Road Surface Type: Asphalt
  • Professional Management Expense: 17341.0
  • Cooling:Ceiling Fan(s): Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

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

Exterior Features

  • Disclosures: Other (See Remarks)
  • Construction Type: Painted, Block
  • Roof: Composition
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 16.0
  • Parking Features: Other (See Remarks), Paved Parking, >1 Space Per Unit
  • Attached Garage: No
  • Open Parking Spaces: 16.0
  • Total Parking Spaces: 32.0
  • General Property Description:Covered Parking Spcs: 16.0
  • General Property Description:Uncvrd Parking Spcs: 16.0
  • General Property Description:Total Parking Spcs: 32.0
  • Parking:_greater_1 Space Per Unit: Yes
  • Parking:Paved Parking: Yes
  • Parking:Other (See Remarks)24: Yes

Utilities

  • Electric: SRP, Individual Meter
  • Cooling: Ceiling Fan(s), Individual, Central A/C
  • 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: Pool

Association/Amenities

  • Exterior Amenities:Landscape Wtr System: Yes
  • Community Amenities:Pool2: Yes
  • Exterior Amenities:Desert Landscaping: Yes

Fee Information

  • Trash Expense: 2400.0
  • Annual Water Sewer Expense: 5000.0

Schools

  • Junior High Dist: Phoenix Union High School District

Lot Info

  • Lot Size: Unknown
  • Additional Parcels: No
  • Parcel #: 156-38-018

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Tenant Pays: Electricity
  • Number Of Units Total: 16
  • Annual Gross Income: 247228.0
  • Insurance Expense: 3200.0
  • Maintenance Expense: 12000.0
  • Property Net Operating Income: 192515.0
  • Annual Operating Expense: 55293.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 5662.0
  • Tax Book Number: 156.00
  • Tax Lot: 5

Range of Values:

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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
10/24/2019 10/24/19 Sold $3,050,000 -2.2% $3,813 / Sq Ft
08/01/2019 08/01/19 Pending -- -- --
07/16/2019 07/16/19 Price Changed $3,120,000 -2.5% $3,900 / Sq Ft
05/24/2019 05/24/19 For Sale $3,200,000 +109.8% $4,000 / Sq Ft
06/29/2018 06/29/18 Sold $1,525,000 -3.7% $1,906 / Sq Ft View Prior Sale
06/11/2018 06/11/18 Price Changed $1,584,000 0.0% $1,980 / Sq Ft
04/09/2018 04/09/18 Pending -- -- --
03/05/2018 03/05/18 For Sale $1,584,000 0.0% $1,980 / Sq Ft
01/25/2018 01/25/18 Pending -- -- --
10/18/2017 10/18/17 For Sale $1,584,000 -- $1,980 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • R

    Seller's Agent in 2019

    Royce Munroe

    Munroe Multifamily

    (480) 221-5449

    26 Total Sales

    Royce Munroe
    Section Image

  • M

    Buyer's Agent in 2019

    Mark Skelpsa

    HomeSmart Realty

    Section Image
  • John Klocek

    Seller's Agent in 2018

    John Klocek

    ABI Multifamily

    (602) 639-0088

    24 Total Sales

    John Klocek
    Section Image
  • Patrick Burch

    Seller Co-Listing Agent in 2018

    Patrick Burch

    ABI Multifamily

    (520) 603-1768

    38 Total Sales

    Patrick Burch
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5930859

Arizona Regional Multiple Listing Service (ARMLS)
Arizona Maricopa County Phoenix 85015 Alhambra

1545 W Colter St, Phoenix, AZ

This home is located at 1545 W Colter St, Phoenix, AZ 85015 since 24 May 2019. This property was built in 1965. 1545 W Colter St is a home located in Maricopa County with nearby schools including Solano School, Osborn Middle School, and Central High School.

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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