NOT LISTED FOR SALE

Estimated Value: $545,000 - $802,000

Studio
-- Bath
2,856 Sq Ft
$227/Sq Ft Est. Value

Last Sold June 23, 2023

Last sale price $625,000 $219 Per Sq Ft

Est. 4% increase in value since last sale

Current estimated payment $3,527/month

4 Days on Market

Highlights

  • Ceramic Tile Flooring
  • Central Air
  • Heat Pump System
  • Phoenix Coding Academy Rated A

About This Home

As of June 2023

Great Opportunity to Own an Investment property in Midtown Phoenix Arizona. The Property Boarders a high-end Residential neighborhood and is close to schools, Restaurants, entertainment, freeways and Phoenix golf. Originally a triplex with 1- 3 Bedroom 2 bath and two 2-Bedroom 1 baths units now features 3- 2 Bedroom 1 Bath Units and 1 efficiency unit. Coin Laundry, Private yards, Covered parking. AC Units are 10,10 and 2 years old with 10 year old Roof , Pride of ownership from owner/manager since 1975, All 2 bedroom units just signed 1 year leases, efficiency is month to month. Facts and Figures are estimates, buyer to verify to their own satisfaction.

Last Agent to Sell the Property

Eric Hegarty

Better Homes & Gardens Real Estate SJ Fowler License #SA650759000 Listed on: 05/10/2023

Better Homes & Gardens Real Estate SJ Fowler

Last Buyer's Agent

Natosha Moore

Realty ONE Group License #SA696111000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,388

Year Built

  • Built in 1951

Lot Details

  • 9,583

Home Design

  • Brick Exterior Construction
  • Composition Roof
  • Block Exterior

Flooring

  • Ceramic Tile Flooring

Parking

  • 3 Parking Spaces
  • Carport
  • On-Street Parking

Utilities

  • Central Air
  • Heat Pump System

Listing and Financial Details

  • The owner pays for trash collection, water, sewer, landscaping
  • Legal Lot and Block 13 / 8
  • Assessor Parcel Number 110-15-086

Community Details

Overview

  • 4 Units
  • Building Dimensions are 142X67
  • Westwood Terrace Subdivision

Building Details

  • Operating Expense $8,172
  • Gross Income $42,960
  • Net Operating Income $34,788

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,388

Year Built

Built in 1951

Lot Details

0

Listing Details

  • Cross Street: Osborn & 16th DR.
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R-4
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1951
  • Tax Year: 2022
  • Road Surface Type: Asphalt
  • Subdivision Name: WESTWOOD TERRACE
  • Cooling:Central Air: Yes
  • Roofing:Composition: Yes
  • Water Source City Franchise2: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Other, Ceramic Tile
  • Appliances: Free-Standing Range, Refrigerator, Washer/Dryer
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:WasherDryer: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

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

Garage/Parking

  • Total Covered Spaces: 3.0
  • Parking Features: On Street, Carport
  • Attached Garage: No
  • Total Parking Spaces: 3.0
  • General Property Description:Covered Parking Spcs: 3.0
  • General Property Description:Total Parking Spcs: 3.0
  • Parking Features:Carport: Yes
  • Parking Features Street Parking: Yes

Utilities

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

Condo/Co-op/Association

  • Community Features: See Remarks

Association/Amenities

  • Exterior Amenities:Green Landscaping: Yes
  • Exterior Amenities:Fenced3: Yes
  • Interior Amenities:Other (See Remarks)51: Yes

Fee Information

  • Annual Fuel Expense: 300.0
  • Trash Expense: 1260.0
  • Annual Water Sewer Expense: 2924.0

Schools

  • Junior High Dist: Phoenix Union High School District

Lot Info

  • Lot Size: 142X67
  • Additional Parcels: No
  • Parcel #: 110-15-086

Multi Family

  • Owner Pays: See Remarks, Trash Collection, Water, Sewer, Landscaping
  • Number Of Units Total: 4
  • Annual Gross Income: 42960.0
  • Insurance Expense: 1200.0
  • Maintenance Expense: 500.0
  • Property Net Operating Income: 34788.0
  • Annual Operating Expense: 8172.0

Tax Info

  • Tax Annual Amount: 1388.0
  • Tax Block: 8
  • Tax Book Number: 110.00
  • Tax Lot: 13

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 10, 2023
Closed on
Jun 23, 2023
Sold by
Jenkins Stephen J
Bought by
Life Better 1628 Llc
Seller's Agent
Eric Hegarty
Better Homes & Gardens Real Estate SJ Fowler
Buyer's Agent
Natosha Moore
Realty ONE Group
List Price
$695,000
Sold Price
$625,000
Premium/Discount to List
-$70,000
-10.07%
Views
7
Current Estimated Value
$649,290

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$24,290
Avg. Annual Appreciation
1.51%
Original Mortgage
$468,750
Outstanding Balance
$456,124
Interest Rate
6.35%
Mortgage Type
New Conventional
Estimated Equity
$193,166
Source: Public Records
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Life Better 1628 Llc $625,000 Security Title Agency
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Life Better 1628 Llc $468,750
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/23/2023 06/23/23 Sold $625,000 -10.1% $219 / Sq Ft
05/15/2023 05/15/23 Pending -- -- --
05/10/2023 05/10/23 For Sale $695,000 -- $243 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

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 $1,580 $12,169 -- --
2024 $1,475 $11,589 -- --
2023 $1,475 $49,680 $9,930 $39,750
2022 $1,388 $34,230 $6,840 $27,390
2021 $1,418 $30,150 $6,030 $24,120
2020 $1,381 $25,210 $5,040 $20,170
2019 $1,320 $21,560 $4,310 $17,250
2018 $1,274 $18,500 $3,700 $14,800
2017 $1,166 $15,220 $3,040 $12,180
2016 $1,124 $13,280 $2,650 $10,630
2015 $1,045 $11,720 $2,340 $9,380
Source: Public Records

Agents Affiliated with this Home

  • Section Image
  • Section Image
See All Agents

Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6554798

Arizona Regional Multiple Listing Service (ARMLS)

APN: 110-15-086