$607,000
SOLD MAR 22, 2023
-- Bed
-- Bath
2,813 Sq Ft
0.42 Acres

Recently Sold

$216 Per Sq Ft

6% Below List Price

15 Days on Market

Highlights

  • Cooling System Mounted To A Wall/Window
  • Concrete Flooring
  • Window Unit Heating System
  • The Creighton Academy Rated 9+

About This Home

As of March 2023

Amazing investment opportunity. Fully occupied 5 plex with MAXIMUM flexibility. All 5 units are month to month with below market rent. HUGE 18,000+ SF lot zoned R-3. Build on the back of the lot while you collect rents from the front or leave property as it is and cash flow. New roof (2021) and the 2BR unit was renovated in fall of 2022 with all new flooring, bathroom and kitchen. Highly desirable neighborhood for rental properties with a central location and close to Biltmore, Arcadia, the 202 freeway, Sky Harbor, and Downtown Phoenix. So much upside on this property.

Last Agent to Sell the Property

Nathan Waite

Silverhawk Realty License #SA677376000 Listed on: 01/18/2023

Last Buyer's Agent

Hudson Robison

The Firm RE License #BR692045000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,761

Year Built

  • Built in 1950

Home Design

  • Brick Exterior Construction
  • Tile Roof
  • Stone Exterior Construction

Parking

  • 10 Open Parking Spaces
  • 10 Parking Spaces

Schools

  • Creighton Elementary School

Utilities

  • Cooling System Mounted To A Wall/Window
  • Window Unit Heating System

Additional Features

  • Concrete Flooring
  • Additional Parcels

Listing and Financial Details

  • Tenant pays for gas, electricity
  • The owner pays for trash collection, water, sewer
  • Assessor Parcel Number 120-20-030-A

Community Details

Overview

  • 5 Units
  • Building Dimensions are 60 x 305

Building Details

  • Operating Expense $10,461
  • Gross Income $39,799
  • Net Operating Income $30,300

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,761

Year Built

Built in 1950

Lot Details

0

Listing Details

  • Cross Street: 32nd & McDowell
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1950
  • Tax Year: 2022
  • Directions: North from McDowell on 32nd. Property is on your left. Driveway is to the north of the building with additional parking in the back.
  • Road Surface Type: Asphalt, Concrete
  • Professional Management Expense: 1200.0
  • Tax Parcel Letter: A
  • Construction Brick: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

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

Exterior Features

  • Disclosures: None
  • Construction Type: Painted, Stone, Brick
  • Roof: Tile

Garage/Parking

  • Parking Features: <1 Space Per Unit
  • Attached Garage: No
  • Open Parking Spaces: 10.0
  • Total Parking Spaces: 10.0
  • General Property Description:Uncvrd Parking Spcs: 10.0
  • General Property Description:Total Parking Spcs: 10.0
  • Parking:_less_1 Space Per Unit: Yes

Utilities

  • Electric: City Electric
  • Cooling: Wall/Window Unit(s)
  • Heating: Window/Wall Unit(s)
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:WindowWall Unit(s): Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Community Amenities:No Pool: Yes

Fee Information

  • Trash Expense: 2000.0
  • Annual Water Sewer Expense: 1600.0

Schools

  • Elementary School: Creighton Elementary School
  • Junior High Dist: Phoenix Union High School District

Lot Info

  • Lot Size: 60 x 305
  • Additional Parcels: Yes
  • Parcel #: 120-20-030-A

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Tenant Pays: Gas, Electricity
  • Number Of Units Total: 5
  • Annual Gross Income: 39798.72
  • Insurance Expense: 1100.0
  • Maintenance Expense: 2800.0
  • Property Net Operating Income: 30300.0
  • Annual Operating Expense: 10461.0
  • Vacancy Allowance Rate: 0.04

Tax Info

  • Tax Annual Amount: 1761.0
  • Tax Book Number: 120.00
  • Tax Lot: 0

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 18, 2023
Closed on
Mar 27, 2023
Sold by
Kayali Bandar
Bought by
Kns Az Llc
Seller's Agent
Nathan Waite
Silverhawk Realty
Buyer's Agent
Hudson Robison
The Firm RE
List Price
$649,000
Sold Price
$607,000
Premium/Discount to List
-$42,000
-6.47%
Views
344

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
30.48%
Original Mortgage
$327,780
Outstanding Balance
$319,661
Interest Rate
6.12%
Mortgage Type
New Conventional
Estimated Equity
$793,672

Purchase Details

Listed on
May 5, 2020
Closed on
Nov 13, 2020
Sold by
Three Busy Bees
Bought by
Kayali Bandar
Seller's Agent
Jerome Pride
Property Hub LLC
Buyer's Agent
Nathan Waite
Compass
List Price
$750,000
Sold Price
$475,000
Premium/Discount to List
-$275,000
-36.67%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
11.00%

Purchase Details

Closed on
Jan 4, 2010
Sold by
Litchfield Properties Llc
Bought by
Three Busy Bees

Purchase Details

Closed on
Jan 27, 2006
Sold by
Three Busy Bees Lp
Bought by
Litchfield Properties Llc

Purchase Details

Closed on
Oct 29, 2003
Sold by
Dressler Donald R and Dressler Rosalie
Bought by
Three Busy Bees Lp

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$145,000
Interest Rate
5.94%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Jan 8, 1999
Sold by
Hartlauer Don R and Hartlauer Rietta L
Bought by
Dressler Donald R and Dressler Rosalie

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$5,000
Interest Rate
6.63%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Sep 15, 1997
Sold by
Snow Christopher S and Snow Chris
Bought by
Hartlauer Don R and Hartlauer Rietta L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$5,000
Interest Rate
7.45%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Jul 3, 1997
Sold by
Snow Chia
Bought by
Snow Christopher S

Purchase Details

Closed on
Jan 26, 1994
Sold by
Snow Matt
Bought by
Snow Chris
Source: Public Records

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Type Sale Price Title Company
Warranty Deed $607,000 Empire Title Services
Warranty Deed $475,000 Grand Canyon Title Agency
Quit Claim Deed -- None Available
Quit Claim Deed -- None Available
Special Warranty Deed $160,000 Chicago Title Insurance Co
Warranty Deed $75,000 Stewart Title & Trust
Interfamily Deed Transfer $110,000 First Southwestern Title
Interfamily Deed Transfer -- --
Interfamily Deed Transfer -- --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $327,780 New Conventional
Previous Owner $145,000 Seller Take Back
Previous Owner $5,000 Seller Take Back
Previous Owner $5,000 Seller Take Back
Previous Owner $45,702 Seller Take Back
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/16/2025 04/16/25 For Sale $1,150,000 +89.5% --
03/22/2023 03/22/23 Sold $607,000 -6.5% $216 / Sq Ft
01/18/2023 01/18/23 For Sale $649,000 +36.6% $231 / Sq Ft
11/16/2020 11/16/20 Sold $475,000 -4.6% $169 / Sq Ft
09/14/2020 09/14/20 Price Changed $498,000 -0.2% $177 / Sq Ft
08/19/2020 08/19/20 Price Changed $499,000 +0.2% $177 / Sq Ft
07/17/2020 07/17/20 Price Changed $498,000 -23.4% $177 / Sq Ft
05/28/2020 05/28/20 Price Changed $650,000 -0.2% $231 / Sq Ft
05/28/2020 05/28/20 Price Changed $651,000 -13.2% $231 / Sq Ft
05/05/2020 05/05/20 For Sale $750,000 -- $267 / 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 $1,854 $14,260 -- --
2024 $1,832 $13,581 -- --
2023 $1,832 $53,280 $10,650 $42,630
2022 $1,761 $39,630 $7,920 $31,710
2021 $1,804 $33,230 $6,640 $26,590
2020 $1,760 $26,670 $5,330 $21,340
2019 $1,747 $21,370 $4,270 $17,100
2018 $1,711 $17,450 $3,490 $13,960
2017 $1,645 $17,650 $3,530 $14,120
2016 $1,581 $15,600 $3,120 $12,480
2015 $1,471 $13,530 $2,700 $10,830
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6508813

Arizona Regional Multiple Listing Service (ARMLS)

APN: 120-20-030A