NOT LISTED FOR SALE

16040 N 27th St Unit 1 & 2 Phoenix, AZ 85032

Paradise Valley Village Neighborhood
24 Beds
-- Bath
2,138 Sq Ft
2004 Built

Last Sold July 05, 2019

Last sale price $890,000 $416 Per Sq Ft

20 Days on Market

About This Home

As of July 2019

The property was constructed in 2004 and consists of 8 units in 2
separate fourplex buildings. Each unit is a 3 bedroom & 2 bathroom unit
with interior washer and dryer hookups, range, fridge, dishwasher, and
comes with its own covered parking spot. At roughly 1,069 square feet,
the units are spacious with fantastic layouts. Each unit is individually
metered for electricity, and with the HOA dues covering sewer, water,
and trash, it makes this property more easily manageable and has
historically been self-managed and remained fully occupied. This
property has been well-maintained and there are currently no planned
HOA special assessments. Additionally, most of the tenants are on MTM
leases providing flexibility for an investor. Someone can maintain the
property as-is, increase r perform value-add to the units. Given
the property's location, characteristics, and amenities, this is an
excellent investment opportunity.
16040 North 27th Street Apartments is comprised of 2 fourplex
buildings within an HOA Community in North Phoenix. Situated west of the Piestewa Freeway (Highway 51), residents enjoy direct access to all areas of the Phoenix Valley by way of the 51 and Pima Freeway (Loop 101). In addition, there are numerous dining and entertainment options in close proximity to the property, including Desert Ridge Marketplace, one of the most popular shopping centers in the Phoenix Metro with 1.2 million square feet of retail space. This property is also in close proximity to the North 32nd Street Corridor revitalization plan. These aspects make this community highly desirable for its residents.

Last Agent to Sell the Property

John Klocek

ABI Multifamily License #SA657592000 Listed on: 04/25/2019

Co-Listed By

Patrick Burch

ABI Multifamily License #BR515118000

Last Buyer's Agent

Saul Enriquez Mendez

Realty ONE Group License #BR677615000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,849

Year Built

  • Built in 2004

Lot Details

  • Additional Parcels

Home Design

  • Wood Frame Construction
  • Tile Roof
  • Stucco

Parking

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

Schools

  • Palomino Primary Elementary School
  • Greenway Middle School
  • Paradise Valley High School

Utilities

  • Cooling Available
  • Heating Available

Listing and Financial Details

  • Tenant pays for cable TV
  • Tax Lot 1
  • Assessor Parcel Number 214-40-413

Community Details

Overview

  • 2 Buildings
  • 8 Units
  • Building Dimensions are IRR
  • 27Th Of Paradise Condominiums 2Nd Amd Subdivision

Building Details

  • Operating Expense $26,485
  • Gross Income $75,020
  • Net Operating Income $46,345

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,849

Year Built

Built in 2004

Lot Details

0

Listing Details

  • Cross Street: North Cave Creek Road & Greenway Pkwy
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: MULTI
  • Number Of Buildings: 2
  • Year Built: 2004
  • Tax Year: 2018
  • Road Surface Type: Asphalt
  • Co List Office Mls Id: abim01
  • Co List Office Phone: 602-714-1400
  • Subdivision Name: 27TH OF PARADISE CONDOMINIUMS 2ND AMD
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Other
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator: Yes
  • Appliances Included:Dishwasher: Yes
  • Appliances Included:WD Hookup: Yes

Exterior Features

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

Garage/Parking

  • Total Covered Spaces: 8.0
  • Parking Features: Common
  • Attached Garage: No
  • Open Parking Spaces: 8.0
  • Total Parking Spaces: 16.0
  • General Property Description:Covered Parking Spcs: 8.0
  • General Property Description:Uncvrd Parking Spcs: 8.0
  • General Property Description:Total Parking Spcs: 16.0
  • Parking:Carport: Yes
  • Parking:Paved Parking: Yes
  • Parking:Other (See Remarks)24: Yes

Utilities

  • Electric: APS, Individual Meter
  • Cooling: Individual, Electric
  • Heating: Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes

Condo/Co-op/Association

  • Community Features: Other, See Remarks, No Pool

Association/Amenities

  • Community Amenities:Other18: Yes
  • Community Amenities:No Pool: Yes
  • Community Amenities:See Remarks15: Yes

Schools

  • Elementary School: Palomino Primary School
  • High School: Paradise Valley High School
  • Middle Or Junior School: Greenway Middle School

Lot Info

  • Lot Size: IRR
  • Additional Parcels: Yes
  • Parcel #: 214-40-413

Multi Family

  • Tenant Pays: Cable TV
  • Number Of Units Total: 8
  • Annual Gross Income: 75019.52
  • Property Net Operating Income: 46345.0
  • Annual Operating Expense: 26485.0
  • Vacancy Allowance Rate: 0.06

Tax Info

  • Tax Annual Amount: 1849.0
  • Tax Book Number: 214.00
  • Tax Lot: 1

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 Change Sq Ft Price
07/05/2019 07/05/19 Sold $890,000 -3.8% $416 / Sq Ft
05/14/2019 05/14/19 Pending -- -- --
04/24/2019 04/24/19 For Sale $925,000 +54.9% $433 / Sq Ft
12/22/2016 12/22/16 Sold $597,000 -3.6% $279 / Sq Ft
11/02/2016 11/02/16 Price Changed $619,500 0.0% $290 / Sq Ft
09/15/2016 09/15/16 Pending -- -- --
06/06/2016 06/06/16 For Sale $619,500 -- $290 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • John Klocek

    Seller's Agent in 2019

    John Klocek

    ABI Multifamily

    (602) 639-0088

    25 Total Sales

    John Klocek
    Section Image
  • Patrick Burch

    Seller Co-Listing Agent in 2019

    Patrick Burch

    ABI Multifamily

    (520) 603-1768

    1 in this area

    39 Total Sales

    Patrick Burch
    Section Image
  • Saul Enriquez Mendez

    Buyer's Agent in 2019

    Saul Enriquez Mendez

    Realty One Group

    (602) 369-8427

    4 in this area

    45 Total Sales

    Saul Enriquez Mendez
    Section Image
  • Rick Horst

    Seller's Agent in 2016

    Rick Horst

    Keller Williams Arizona Realty

    (480) 767-3014

    4 in this area

    37 Total Sales

    Rick Horst
    Section Image
  • Kerry Keezer

    Seller Co-Listing Agent in 2016

    Kerry Keezer

    72SOLD

    (480) 760-1494

    17 in this area

    57 Total Sales

    Kerry Keezer
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5916131

Arizona Regional Multiple Listing Service (ARMLS)
Arizona Maricopa County Phoenix 85032 Paradise Valley Village

16040 N 27th St Unit 1 & 2, Phoenix, AZ

This home is located at 16040 N 27th St Unit 1 & 2, Phoenix, AZ 85032 since 25 April 2019. This property was built in 2004. 16040 N 27th St Unit 1 & 2 is a home located in Maricopa County with nearby schools including Palomino Primary School, Palomino Intermediate School, and Greenway Middle 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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