$165,000
SOLD AUG 30, 2012
12 Beds
5 Baths
2,225 Sq Ft
0.26 Acres

Recently Sold

$74 Per Sq Ft

8% Below List Price

77 Days on Market

Highlights

  • Evaporated cooling system
  • Phoenix Coding Academy Rated A
  • Painted or Stained Flooring

About This Home

As of December 2022

THIS WILL GO FAST! CASHFLOW!! Great CAP rate, over 12! Recently remodeled 6 unit property in easy to rent central location. This property consists of two single family homes in front, with a 4-plex in the rear! 3 year leak warranty in place for roof, brand new ceramic tile throughout each unit for cheap unit turns, low maintenance. New paint inside/out, front two homes have new split system AC units. Gross rent is $3,150 per month. Property is fully occupied. Front homes individually metered for electric & gas (one of homes individual for water as well), rear 4-plex master metered. Actual utility expenses from past 12 months attached as documents. DO NOT DISTURB TENANTS! Owner/Agent

Last Agent to Sell the Property

Colin Ralls

Acora Asset Management License #BR642734000 Listed on: 05/25/2012

Last Buyer's Agent

Anne Hillyard

HomeSmart License #SA642499000

HomeSmart

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,330

Year Built

  • Built in 1935

Home Design

  • Wood Frame Construction
  • Composition Shingle Roof
  • Stucco

Kitchen

  • Oven or Range
  • Free-Standing Electric Oven

Flooring

  • Painted or Stained Flooring
  • Ceramic Tile

Parking

  • Over 1 Space Per Unit
  • Paved Parking

Schools

  • Creighton Elementary School
  • North High School

Utilities

  • Evaporated cooling system
  • Heating System Uses Natural Gas

Listing and Financial Details

  • The owner pays for electric, gas, sewer, trash collection, water

Community Details

Overview

  • $2,483 per year Dock Fee
  • 6 Units
  • Building Dimensions are IRR

Building Details

  • Insurance Expense $950

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,330

Year Built

Built in 1935

Lot Details

0

Listing Details

  • Tax Municipality: Maricopa - COUNTY
  • Appliances Included: F/S Oven/Range, Refrigerator
  • Construction Finish: Painted, Stucco
  • Cross Street: 16th & THOMAS
  • Floors: Ceramic Tile
  • Legal Info Lot Number: 44
  • Legal Info Range: 3E
  • Legal Info Section: 34
  • Legal Info Township: 2N
  • Roads Streets: Asphalt
  • Property Type: F
  • Hundred Block: 2900
  • Legal Description Abbrev: Greenfield Acres Tr 02
  • Marketing Name: Harvard
  • Ownership: Fee Simple
  • Uncvrd Parking Spcs: 12.00
  • Map Code Grid: P35
  • Year Built: 1935
  • Tax Year: 2011
  • Directions: From Thoms & 16th - South to Harvard, Left on Harvard, To Address on North side of street.
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Interior Amenities: Fire/Smoke Alarm(s), Unfurnished

Exterior Features

  • Exterior Amenities: Cable TV Available, Desert Landscaping, Patio/Balcony
  • Roofing: Comp Shingle
  • Construction: Frame - Wood

Garage/Parking

  • Parking: >1 Space Per Unit, Paved Parking
  • Total Parking Spaces: 12.00

Utilities

  • Water: City Franchise, Individual Meter, Master Meter
  • Electric: APS
  • Gas: SW Gas
  • Cooling: Electric, Evaporative Cooling
  • Heating: Natural Gas

Condo/Co-op/Association

  • Community Amenities: No Pool

Schools

  • Elementary School: Creighton Elementary School
  • Middle School: Creighton Elementary School
  • High School: North High School
  • Elementary School: Creighton Elementary School
  • High School: North High School
  • Junior High School: Creighton Elementary School

Lot Info

  • Lot Size: IRR

Multi Family

  • Four Bedroom Units Avg Rent: 600.00
  • Income And Expenses Adjusted Gross Inc: 35532.00
  • Income And Expenses Annual Elec Exp: 2724.00
  • Income And Expenses Annual Gas Exp: 972.00
  • Income And Expenses Annual Ins Exp: 950.00
  • Income And Expenses Annual Maint Exp: 1500.00
  • Income And Expenses Annual Mgmt Exp: 2750.00
  • Income And Expenses Annual Water Sewer Exp: 3400.00
  • Income And Expenses Gross Annual Sch Inc: 37800.00
  • Income And Expenses Net Operating Income: 21370.00
  • Income And Expenses Operating Exp: 14779.00
  • Income And Expenses Vacancy Allowance: 0.06
  • Number Of Four Bedroom Units: 1
  • Number Of One Bedroom Units: 3
  • Number Of Three Bedroom Units: 1
  • Number Of Two Bedroom Units: 1
  • One Bedroom Units Avg Rent: 450.00
  • One Bedroom Units Avg Sq Ft: 425
  • One Bedroom Units Baths: 1
  • Owner Pays: Electric, Gas, See Remarks, Sewer, Trash Collection, Water
  • Three Bedroom Units Avg Rent: 650.00
  • Three Bedroom Units Avg Sq Ft: 1000
  • Three Bedroom Units Baths: 1
  • Total Numberof Buildings: 3
  • Total Numberof Units: 6.00
  • Two Bedroom Units Avg Rent: 550.00
  • Two Bedroom Units Avg Sq Ft: 800
  • Two Bedroom Units Baths: 1

Tax Info

  • Taxes: 2483.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Nov 15, 2022
Closed on
Dec 30, 2022
Sold by
Kirkpatrick Family Investments Llc
Bought by
Rent Xp Llc
Seller's Agent
Bryce Neagle
ABI Multifamily
Buyer's Agent
Bryce Neagle
ABI Multifamily
List Price
$1,325,000
Sold Price
$1,245,000
Premium/Discount to List
-$80,000
-6.04%
Current Estimated Value
$1,117,744

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$127,256
Avg. Annual Appreciation
-3.91%
Original Mortgage
$980,000
Interest Rate
6.61%
Mortgage Type
New Conventional

Purchase Details

Listed on
Nov 15, 2022
Closed on
Dec 23, 2022
Sold by
Kirkpatrick Family Investments Llc
Bought by
Rent Xp Llc
Seller's Agent
Bryce Neagle
ABI Multifamily
Buyer's Agent
Bryce Neagle
ABI Multifamily
List Price
$1,325,000
Sold Price
$1,245,000
Premium/Discount to List
-$80,000
-6.04%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$980,000
Interest Rate
6.61%
Mortgage Type
New Conventional

Purchase Details

Listed on
May 25, 2012
Closed on
Aug 24, 2012
Sold by
Helios Properties Llc
Bought by
Kirkpatrick Family Investments Llc
Seller's Agent
Colin Ralls
Acora Asset Management
Buyer's Agent
Anne Hillyard
HomeSmart
List Price
$179,900
Sold Price
$165,000
Premium/Discount to List
-$14,900
-8.28%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
21.59%

Purchase Details

Closed on
Sep 27, 2010
Sold by
Bayview Loan Servicing Llc
Bought by
Helios Properties Llc

Purchase Details

Closed on
Aug 13, 2010
Sold by
Countee Yvette H
Bought by
Bayview Loan Servicing Llc

Purchase Details

Closed on
Apr 18, 2006
Sold by
E Harvard Apts Llc
Bought by
Countee Yvette H

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$260,000
Interest Rate
6.35%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 25, 2005
Sold by
Spear Floyd
Bought by
Harvard Apartments Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$215,000
Interest Rate
6.04%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 14, 2005
Sold by
Bahl Tarun
Bought by
Spear Floyd F

Purchase Details

Closed on
Sep 16, 2003
Sold by
Hollister Richard C
Bought by
Bahl Tarun

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$178,400
Interest Rate
6.3%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

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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

Purchase History

Date Type Sale Price Title Company
Special Warranty Deed $1,245,000 Commonwealth Land Title
Special Warranty Deed $1,245,000 Commonwealth Land Title
Cash Sale Deed $165,000 Pioneer Title Agency Inc
Cash Sale Deed $50,000 Chicago Title
Trustee Deed $25,000 None Available
Warranty Deed $325,000 Security Title Agency Inc
Quit Claim Deed -- --
Warranty Deed -- Security Title Agency Inc
Special Warranty Deed $223,000 First American Title Ins Co
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $980,000 New Conventional
Previous Owner $980,000 New Conventional
Previous Owner $25,000 Commercial
Previous Owner $260,000 Commercial
Previous Owner $215,000 Commercial
Previous Owner $178,400 Commercial
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/05/2024 07/05/24 Rented $1,795 0.0% --
06/24/2024 06/24/24 Under Contract -- -- --
06/10/2024 06/10/24 Price Changed $1,795 -3.0% $0 / Sq Ft
05/28/2024 05/28/24 Price Changed $1,850 -2.4% $0 / Sq Ft
05/17/2024 05/17/24 Price Changed $1,895 -2.8% $1 / Sq Ft
05/03/2024 05/03/24 Price Changed $1,950 -2.3% $1 / Sq Ft
04/08/2024 04/08/24 Price Changed $1,995 -0.3% $1 / Sq Ft
04/05/2024 04/05/24 Price Changed $2,000 -4.8% $1 / Sq Ft
03/27/2024 03/27/24 Price Changed $2,100 -8.5% $1 / Sq Ft
03/14/2024 03/14/24 For Rent $2,295 0.0% --
12/30/2022 12/30/22 Sold $1,245,000 -6.0% $560 / Sq Ft
11/15/2022 11/15/22 For Sale $1,325,000 +703.0% $596 / Sq Ft
08/30/2012 08/30/12 Sold $165,000 -8.3% $74 / Sq Ft
08/10/2012 08/10/12 Pending -- -- --
05/25/2012 05/25/12 For Sale $179,900 -- $81 / 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 $1,330 $10,232 -- --
2024 $1,315 $9,745 -- --
2023 $1,315 $52,050 $10,410 $41,640
2022 $1,263 $36,860 $7,370 $29,490
2021 $1,294 $27,420 $5,480 $21,940
2020 $1,263 $23,120 $4,620 $18,500
2019 $1,254 $21,330 $4,260 $17,070
2018 $1,228 $19,060 $3,810 $15,250
2017 $1,181 $15,570 $3,110 $12,460
2016 $1,135 $12,100 $2,420 $9,680
2015 $1,056 $10,450 $2,090 $8,360
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 4764862

Arizona Regional Multiple Listing Service (ARMLS)

APN: 117-06-051