NOT LISTED FOR SALE

1602 W Mcdowell Rd Phoenix, AZ 85007

Encanto-Palmcroft Neighborhood
19 Beds
8 Baths
2,150 Sq Ft
1950 Built

Last Sold December 28, 2015

Last sale price $525,000 $244 Per Sq Ft

17 Days on Market

Highlights

  • Cooling Available
  • Concrete Flooring
  • Multiple Heating Units
  • Phoenix Coding Academy Rated A

About This Home

As of December 2015

ATTENTION INVESTORS! Value-add multifamily property with potential for seller financing! Being sold as-is and for well below market value. The property went thru a major renovation in 2008 with all electrical replaced, tankless water heaters installed for all units and all HVAC units replaced. The roof appears to be recently redone. Property is completely vacant. The units do not have kitchens, the bathrooms need work and there is no flooring.

Last Agent to Sell the Property

Patrick O'Sullivan

Get Multifamily License #BR634211000 Listed on: 10/28/2015

Last Buyer's Agent

Patrick O'Sullivan

Get Multifamily License #BR634211000 Listed on: 10/28/2015

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,769

Year Built

  • Built in 1950

Lot Details

  • Property fronts an alley

Home Design

  • Brick Exterior Construction
  • Composition Roof
  • Block Exterior

Flooring

  • Carpet
  • Concrete

Parking

  • 6 Open Parking Spaces
  • 6 Parking Spaces
  • Paved Parking

Schools

  • Kenilworth Elementary School
  • Phoenix Prep Academy Middle School
  • Central High School

Utilities

  • Cooling Available
  • Multiple Heating Units
  • Heating System Uses Natural Gas
  • Heat Pump System
  • Master Water Meter

Listing and Financial Details

  • The owner pays for gas, electricity, trash collection, water, sewer, landscaping
  • Legal Lot and Block 91 / 6
  • Assessor Parcel Number 111-07-072-A

Community Details

Overview

  • 3 Buildings
  • 10 Units
  • Building Dimensions are 118 x 160
  • Fairview Place Blks 5 8 Subdivision

Building Details

  • Operating Expense $30,335
  • Gross Income $82,080
  • Net Operating Income $51,745

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,769

Year Built

Built in 1950

Lot Details

0

Listing Details

  • Cross Street: W 15th Ave and N McDowell Rd
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R-5
  • Number Of Buildings: 3
  • Ownership: Fee Simple
  • Year Built: 1950
  • Tax Year: 2015
  • Road Frontage Type: Alley
  • Road Surface Type: Asphalt, Curb(s) & Gutter(s), Sidewalk(s)
  • Professional Management Expense: 6566.0
  • Subdivision Name: FAIRVIEW PLACE BLKS 5-8
  • Tax Parcel Letter: A
  • Construction Brick: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Concrete
  • Appliances: None
  • Appliances Included:None38: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Painted, Block, Brick
  • Roof: Composition
  • Construction:Block: Yes

Garage/Parking

  • Parking Features: Paved Parking, <1 Space Per Unit
  • Attached Garage: No
  • Open Parking Spaces: 6.0
  • Total Parking Spaces: 6.0
  • General Property Description:Uncvrd Parking Spcs: 6.0
  • General Property Description:Total Parking Spcs: 6.0
  • Parking:Paved Parking: Yes
  • Parking:_less_1 Space Per Unit: Yes

Utilities

  • Electric: APS, Master Meter
  • Cooling: Electric
  • Heating: Heat Pump, 2 or More Units, Natural Gas
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Master Meter
  • Heating:Natural Gas: Yes
  • Heating:Heat Pump2: Yes
  • Electric Master Meter: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Fenced3: Yes
  • Interior Amenities:Security Alarm(s): Yes
  • Community Amenities:No Pool: Yes
  • Interior Amenities:Fire Sprinklers2: Yes

Fee Information

  • Trash Expense: 2000.0
  • Annual Water Sewer Expense: 5000.0

Schools

  • Elementary School: Kenilworth Elementary School
  • High School: Central High School
  • Junior High Dist: Phoenix Union High School District
  • Middle Or Junior School: Phoenix Prep Academy

Lot Info

  • Lot Size: 118 x 160
  • Additional Parcels: No
  • Parcel #: 111-07-072-A

Multi Family

  • Owner Pays: Gas, Electricity, Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: None
  • Number Of Units Total: 10
  • Annual Gross Income: 82080.0
  • Insurance Expense: 3000.0
  • Maintenance Expense: 4000.0
  • Property Net Operating Income: 51745.0
  • Annual Operating Expense: 30334.8
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 4768.8
  • Tax Block: 6
  • Tax Book Number: 111.00
  • Tax Lot: 91
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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
12/28/2015 12/28/15 Sold $525,000 0.0% $244 / Sq Ft
11/14/2015 11/14/15 Pending -- -- --
10/28/2015 10/28/15 For Sale $525,000 +16.7% $244 / Sq Ft
10/22/2015 10/22/15 Sold $450,000 -17.4% $209 / Sq Ft View Prior Sale
09/18/2015 09/18/15 Pending -- -- --
08/31/2015 08/31/15 For Sale $545,000 -- $253 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

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 $8,399 $59,127 -- --
2024 $7,830 $56,312 -- --
2023 $7,830 $109,570 $21,910 $87,660
2022 $7,552 $101,620 $20,320 $81,300
2021 $7,495 $84,770 $16,950 $67,820
2020 $7,582 $72,850 $14,570 $58,280
2019 $7,569 $61,280 $12,250 $49,030
2018 $5,206 $41,170 $8,230 $32,940
2017 $5,085 $38,610 $7,720 $30,890
2016 $4,939 $26,670 $5,330 $21,340
Source: Public Records

Agents Affiliated with this Home

  • Dan Brosman

    Seller's Agent in 2015

    Dan Brosman

    HomeSmart

    (480) 391-2419

    3 Total Sales

    Dan Brosman
    Section Image
  • Patrick O'Sullivan

    Seller's Agent in 2015

    Patrick O'Sullivan

    Get Multifamily

    (602) 842-5050

    29 Total Sales

    Patrick O'Sullivan
    Section Image
See All Agents

Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5355031

Arizona Regional Multiple Listing Service (ARMLS)
Arizona Maricopa County Phoenix 85007 Encanto-Palmcroft

1602 W Mcdowell Rd, Phoenix, AZ

Not Listed for Sale

MultiFamily

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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