NOT LISTED FOR SALE
1 Bed
1 Bath
725 Sq Ft
0.42 Acres

Last Sold February 25, 2021

Last sale price $1,950,000 $2,690 Per Sq Ft

228 Days on Market

Highlights

  • Cooling Available
  • Phoenix Coding Academy Rated A
  • Heat Pump System

About This Home

As of February 2021

Mulberry Apartments is a beautiful mid-century, renovated property well located in central Phoenix. Residents love its close proximity to Central Avenue in the Encanto district of Phoenix.

Current ownership has completed a complete interior upgrade program several years ago and the community is positioned for a new investor to expand on this upgrade program. Current rents are below market and upside in charging for utility reimbursements!

16 x 1 Bedroom/1 Bath units each 640 sf in size featuring new modern kitchen cabinets, stainless steel appliances, quartz counter-tops, under-mounted sinks, new bathroom vanities with quartz counter-tops and stack-able washers and dryers in every unit.

**SEE OFFERING MEMORANDUM IN DOCUMENTS TAB**

Last Agent to Sell the Property

Germain Villeneuve

Keller Williams Arizona Realty License #SA571081000 Listed on: 03/31/2020

Keller Williams Arizona Realty

Last Buyer's Agent

Tom Zarob

Phoenix Prestige Real Estate License #BR546214000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $9,482

Year Built

  • Built in 1968

Lot Details

  • 0.42

Home Design

  • Wood Frame Construction
  • Built-Up Roof

Parking

  • 16 Parking Spaces
  • 16 Covered Spaces

Schools

  • Encanto Elementary School
  • Central High School

Utilities

  • Cooling Available
  • Heat Pump System

Listing and Financial Details

  • The owner pays for trash collection, water, sewer
  • Tax Lot 194
  • Assessor Parcel Number 110-26-076-D

Community Details

Overview

  • 3 Buildings
  • 16 Units
  • Building Dimensions are Irr

Building Details

  • Operating Expense $74,576
  • Gross Income $196,270
  • Net Operating Income $119,205

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$9,482

Year Built

Built in 1968

Lot Details

0

Listing Details

  • Cross Street: 19th Ave & Osborn
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R-4
  • Number Of Buildings: 3
  • Year Built: 1968
  • Tax Year: 2019
  • Road Surface Type: Asphalt
  • Professional Management Expense: 7899.0
  • Tax Parcel Letter: D
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances Included:Refrigerator: Yes
  • Appliances Included:WasherDryer: Yes
  • Appliances Included:BI OvenRange: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Painted, Frame - Wood
  • Roof: Built-Up
  • Construction:Frame - Wood: Yes

Garage/Parking

  • Total Covered Spaces: 16.0
  • Total Parking Spaces: 16.0
  • General Property Description:Covered Parking Spcs: 16.0
  • General Property Description:Total Parking Spcs: 16.0
  • Parking:_one_ SpaceUnit: Yes

Utilities

  • Electric: APS
  • Cooling: Heat Pump
  • Heating: Heat Pump
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Heat Pump2: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Green Landscaping: Yes
  • Exterior Amenities:PatioBalcony: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Partially Fenced: Yes
  • Interior Amenities:Unfurnished: Yes
  • Interior Amenities:Vertical Blinds2: Yes

Fee Information

  • Annual Fuel Expense: 2314.0
  • Trash Expense: 2990.0
  • Annual Water Sewer Expense: 4365.0

Schools

  • Elementary School: Encanto School
  • High School: Central High School

Lot Info

  • Lot Size: Irr
  • Additional Parcels: No
  • Parcel #: 110-26-076-D

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Number Of Units Total: 16
  • Electric Expense: 20909.0
  • Annual Gross Income: 196270.0
  • Insurance Expense: 4576.0
  • Maintenance Expense: 12800.0
  • Property Net Operating Income: 119205.0
  • Annual Operating Expense: 74576.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 9482.0
  • Tax Book Number: 110.00
  • Tax Lot: 194

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
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List Price
Sold Price
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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
02/25/2021 02/25/21 Sold $1,950,000 -7.1% $2,690 / Sq Ft
01/13/2021 01/13/21 For Sale $2,100,000 0.0% $2,897 / Sq Ft
01/13/2021 01/13/21 Price Changed $2,100,000 0.0% $2,897 / Sq Ft
11/13/2020 11/13/20 Pending -- -- --
11/11/2020 11/11/20 Pending -- -- --
11/04/2020 11/04/20 For Sale $2,100,000 0.0% $2,897 / Sq Ft
10/30/2020 10/30/20 Price Changed $2,100,000 0.0% $2,897 / Sq Ft
10/05/2020 10/05/20 Pending -- -- --
10/01/2020 10/01/20 For Sale $2,100,000 +7.7% $2,897 / Sq Ft
10/01/2020 10/01/20 Off Market $1,950,000 -- --
03/30/2020 03/30/20 For Sale $2,100,000 +34.6% $2,897 / Sq Ft
06/08/2018 06/08/18 Sold $1,560,000 -2.0% $2,152 / Sq Ft View Prior Sale
06/01/2018 06/01/18 Price Changed $1,592,000 0.0% $2,196 / Sq Ft
03/23/2018 03/23/18 Pending -- -- --
01/20/2018 01/20/18 Price Changed $1,592,000 -5.1% $2,196 / Sq Ft
11/29/2017 11/29/17 Price Changed $1,678,400 -4.6% $2,315 / Sq Ft
11/01/2017 11/01/17 For Sale $1,760,000 +309.8% $2,428 / Sq Ft
06/19/2014 06/19/14 Sold $429,500 -13.9% $592 / Sq Ft View Prior Sale
05/19/2014 05/19/14 Pending -- -- --
05/01/2014 05/01/14 For Sale $499,000 -- $688 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6059233

Arizona Regional Multiple Listing Service (ARMLS)