NOT LISTED FOR SALE

Estimated Value: $2,241,310

Studio
2 Baths
2,008 Sq Ft
$1,116/Sq Ft Est. Value

Sale Details

Date Sold: April 27, 2026

Last sale price $2,250,000 $1,121 Per Sq Ft

Current estimated payment $13,291 / mo

40 Days on Market

Highlights

  • Patio
  • Ceiling Fan
  • 8 Car Garage
  • Madison Heights Elementary School Rated A-
  • Heating unit installed on the ceiling
  • Partially Fenced Property

About This Home

As of April 2026

Fabulous centrally located investment opportunity. These new & modern four units with custom finishes affords a perfect owner-occupied luxurious lifestyle. The property was designed with a 2,000 ft.2 owners three bedroom 3 1/2 bath home. The property consists of two, three bedrooms three bath homes and two one bedroom one bath apartments. The three bedroom units include gas fireplace. Superb location right off the 51 freeway with easy access to Sky Harbor Airport and Downtown Phoenix. Situated next to the Sprouts shopping center at 16th St. & Glendale. Adjacent to the canal with an easy walk to the Biltmore Hotel. Must see to appreciate!

Last Agent to Sell the Property

Michael Banovac

RMB Realty LLC License #SA586199000 Listed on: 01/24/2026

Last Buyer's Agent

Michael Banovac

RMB Realty LLC License #SA586199000 Listed on: 01/24/2026

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Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,957

Year Built

  • Built in 2023

Home Design

  • Wood Frame Construction
  • Stucco

Parking

  • 8 Car Garage
  • 2 Open Parking Spaces
  • Carport
  • Garage Door Opener
  • On-Street Parking

Utilities

  • Cooling Available
  • Heating unit installed on the ceiling

Additional Features

  • Ceiling Fan
  • Patio
  • Partially Fenced Property

Listing and Financial Details

  • Tenant pays for water, sewer, electricity, gas, trash collection, cable TV
  • The owner pays for landscaping
  • Tax Lot 3
  • Assessor Parcel Number 164-34-003

Community Details

Overview

  • 2 Buildings
  • 4 Units
  • Building Dimensions are 80' x 144'
  • Town Heights Subdivision

Building Details

  • Operating Expense $11,957
  • Gross Income $136,973
  • Net Operating Income $120,600

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,957

Year Built

Built in 2023

Lot Details

0 Sq Ft Lot

Listing Details

  • Cross Street: 16th St. & Glendale Ave.
  • Property Type: Multiple Dwellings
  • Zoning: R3
  • Number Of Buildings: 2
  • Ownership: Fee Simple
  • Year Built: 2023
  • Tax Year: 2025
  • Road Surface Type: Asphalt
  • Subdivision Name: TOWN HEIGHTS
  • Garage Yn: Yes
  • Const - Finish:Const - Finish: Painted, Stucco
  • Cooling:Cooling: Electric, Ceiling Fan(s)
  • Road Surface Type:Road Surface Type: Asphalt
  • Electric:Electric: APS
  • Sale Includes:Sale Includes: Land & Building
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Refrigerator, Dishwasher, Disposal, Microwave, Washer/Dryer, Built-In Gas Oven

Exterior Features

  • Disclosures: None
  • Construction Type: Wood Frame, Painted, Stucco
  • Roof: Rolled/Hot Mop
  • Exterior Amenities: Landscape Water System, Fenced, Partially Fenced, Patio/Balcony

Garage/Parking

  • Total Covered Spaces: 6.0
  • Parking Features: Carport, On Street, >1 Space Per Unit, Garage Door Opener
  • Attached Garage: No
  • Open Parking Spaces: 2.0
  • Total Parking Spaces: 8.0
  • Parking Features:Parking Features: Garage, Carport, On Street, >1 Space Per Unit, Garage Door Opener

Utilities

  • Electric: APS
  • Cooling: Electric, Ceiling Fan(s)
  • Heating: Ceiling
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: Individual Meter
  • Gas:Gas: SW Gas

Condo/Co-op/Association

  • Community Features: No Pool

Schools

  • Junior High Dist: Phoenix Union High School District

Lot Info

  • Lot Size: 80' x 144'
  • Additional Parcels: No
  • Parcel #: 164-34-003

Multi Family

  • Owner Pays: Landscaping
  • Tenant Pays: Water, Sewer, Electricity, Gas, Trash Collection, Cable TV
  • Number Of Units Total: 4
  • Annual Gross Income: 136972.8
  • Property Net Operating Income: 120600.0
  • Annual Operating Expense: 11957.0
  • Vacancy Allowance Rate: 0.04

Tax Info

  • Tax Annual Amount: 11957.0
  • Tax Book Number: 164.0
  • Tax Lot: 3

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
Jan 24, 2026
Closed on
Apr 27, 2026
Sold by
Bought by
Seller's Agent
Michael Banovac
RMB Realty LLC
Buyer's Agent
Michael Banovac
RMB Realty LLC
List Price
$2,450,000
Sold Price
$2,250,000
Premium/Discount to List
-$200,000
-8.16%
Views
44
Current Estimated Value
$2,241,310

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$8,690
Avg. Annual Appreciation
-1.37%
Original Mortgage
$1,650,000
Outstanding Balance
$1,646,775
Interest Rate
6.11%
Mortgage Type
New Conventional
Estimated Equity
$594,535

Purchase Details

Closed on
Apr 23, 2021
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
$1,032,000
Interest Rate
3%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 9, 2018
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
$250,000
Interest Rate
4.4%
Mortgage Type
Unknown

Purchase Details

Closed on
Apr 5, 2011
Sold by
Bought by

Purchase Details

Closed on
Mar 16, 1998
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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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
$2,250,000 Pinnacle Title Services
$340,000 Greystone Title
$280,000 Empire West Title Agency Llc
$50,000 Security Title Agency
-- Security Title Agency
$85,000 Nations Title Insurance
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 $1,650,000
Previous Owner $1,640,000
Previous Owner $1,319,880
Previous Owner $1,032,000
Previous Owner $250,000
Previous Owner $30,000
Previous Owner $60,000
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
04/27/2026 04/27/26 Sold $2,250,000 -8.2% $1,121 / Sq Ft
03/05/2026 03/05/26 Pending -- -- --
01/24/2026 01/24/26 For Sale $2,450,000 -- $1,220 / 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 $11,957 $25,938 $25,938
2024 $3,135 $24,703 $24,703
2023 $3,135 $39,705 $39,705 $0
2022 $3,042 $35,160 $35,160 $0
2021 $3,068 $37,110 $37,110 $0
2020 $3,020 $35,655 $35,655 $0
2019 $3,246 $26,800 $5,360 $21,440
2018 $3,166 $23,710 $4,740 $18,970
2017 $2,649 $22,510 $4,500 $18,010
2016 $2,552 $24,780 $4,950 $19,830
2015 $2,375 $23,030 $4,600 $18,430
Source: Public Records

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6974079

Arizona Regional Multiple Listing Service (ARMLS)

APN: 164-34-003

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