NOT LISTED FOR SALE

1849 E Virginia Ave Phoenix, AZ 85006

Central City Neighborhood

Estimated Value: $671,000 - $856,000

4 Beds
-- Bath
2,298 Sq Ft
$324/Sq Ft Est. Value

Last Sold February 14, 2018

Last sale price $300,000 $131 Per Sq Ft

Est. 148% increase in value since last sale

Current estimated payment $3,997/month

40 Days on Market

Highlights

  • Multiple cooling system units
  • Carpet
  • Heating System Uses Natural Gas
  • Phoenix Coding Academy Rated A

About This Home

As of February 2018

This solid property is a great income producing property. There are four units here, 2 units contain 2 bedrooms and one bathroom, 2 units contain 1 bedroom and 1 bathroom. All units are currently leased on a month to month basis. There is plenty of parking here, and the location is great! You have access to everything and your neighbor to the north is The Phoenix Children's Hospital. Freeway 51 is just a quarter mile away, making your commute a breeze, no matter where you are going. Don't miss this opportunity to own a solid income producing fourplex, with paying tenants already in place. Begin collecting rents on day one!

Last Agent to Sell the Property

Mizael Martinez

Coldwell Banker Realty License #BR576869000 Listed on: 11/30/2017

Coldwell Banker Realty

Last Buyer's Agent

Mizael Martinez

Elite Partners License #SA576869000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,020

Year Built

  • Built in 1990

Lot Details

  • 7,884

Home Design

  • Brick Exterior Construction
  • Composition Roof

Flooring

  • Carpet

Parking

  • 10 Open Parking Spaces
  • 10 Parking Spaces
  • Free Parking
  • Paved Parking

Schools

  • Creighton Elementary School

Utilities

  • Multiple cooling system units
  • Heating System Uses Natural Gas

Listing and Financial Details

  • Tenant pays for trash collection, gas, electricity, cable TV
  • The owner pays for water
  • Assessor Parcel Number 117-06-106-A

Community Details

Overview

  • 4 Units
  • Building Dimensions are 60.25 x 130.67

Building Details

  • Operating Expense $3,520
  • Net Operating Income $24,872

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,020

Year Built

Built in 1990

Lot Details

0

Listing Details

  • Cross Street: 16th Street & Thomas Road
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R-3 R-5 M-M
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1990
  • Tax Year: 2017
  • Road Surface Type: Asphalt, Concrete, Sidewalk(s)
  • Tax Parcel Letter: A
  • Construction Brick: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet
  • Appliances: Other (See Remarks)
  • Appliances Included:Other (See Remarks)56: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Brick
  • Roof: See Remarks, Composition

Garage/Parking

  • Parking Features: Paved Parking, Free, >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:Free: Yes
  • Parking:_greater_1 Space Per Unit: Yes
  • Parking:Paved Parking: Yes

Utilities

  • Electric: APS
  • Cooling: 2 or More Units
  • Heating: Natural Gas
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Natural Gas: Yes

Condo/Co-op/Association

  • Community Features: Other, See Remarks

Association/Amenities

  • Exterior Amenities:Fenced3: Yes
  • Interior Amenities:Unfurnished: Yes

Fee Information

  • Annual Water Sewer Expense: 1200.0

Schools

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

Lot Info

  • Lot Size: 60.25 x 130.67
  • Additional Parcels: No
  • Parcel #: 117-06-106-A

Multi Family

  • Owner Pays: Water
  • Tenant Pays: See Remarks, Trash Collection, Gas, Electricity, Cable TV
  • Number Of Units Total: 4
  • Insurance Expense: 800.0
  • Maintenance Expense: 250.0
  • Property Net Operating Income: 24872.0
  • Annual Operating Expense: 3520.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 1020.0
  • Tax Book Number: 117.00
  • Tax Lot: 000

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Aug 1, 2022
Sold by
Gold Khai
Bought by
Moon Creek Redevelopment Llc
Current Estimated Value
$745,333

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$900,000
Interest Rate
5.81%
Mortgage Type
New Conventional

Purchase Details

Listed on
Nov 30, 2017
Closed on
Feb 8, 2018
Sold by
Ayala Jose Luis and De Ayala Rosa Maria Zuniga
Bought by
Gold Khai
Seller's Agent
Mizael Martinez
Coldwell Banker Realty
Buyer's Agent
Mizael Martinez
Coldwell Banker Realty
List Price
$320,000
Sold Price
$300,000
Premium/Discount to List
-$20,000
-6.25%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
12.18%
Original Mortgage
$294,566
Interest Rate
4.12%
Mortgage Type
FHA

Purchase Details

Closed on
Oct 3, 2014
Sold by
Virgin John I
Bought by
Ayala Jose Luis and Ayala Rosa Maria
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 Buyer Sale Price Title Company
Moon Creek Redevelopment Llc $690,000 Empire Title Company Ltd
Gold Khai $300,000 First Arizona Title Agency
Ayala Jose Luis $210,000 Driggs Title Agency Inc
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Moon Creek Redevelopment Llc $900,000
Previous Owner Gold Khai $294,566
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
02/14/2018 02/14/18 Sold $300,000 -6.3% $131 / Sq Ft
02/08/2018 02/08/18 Price Changed $320,000 0.0% $139 / Sq Ft
01/09/2018 01/09/18 Pending -- -- --
11/30/2017 11/30/17 For Sale $320,000 -- $139 / 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 $1,194 $8,839 -- --
2024 $1,136 $8,418 -- --
2023 $1,136 $38,680 $7,730 $30,950
2022 $1,058 $27,930 $5,580 $22,350
2021 $1,087 $20,510 $4,100 $16,410
2020 $1,061 $18,050 $3,610 $14,440
2019 $1,053 $16,270 $3,250 $13,020
2018 $1,031 $14,230 $2,840 $11,390
2017 $1,020 $12,550 $2,510 $10,040
2016 $980 $10,260 $2,050 $8,210
2015 $912 $8,830 $1,760 $7,070
Source: Public Records

Agents Affiliated with this Home

  • Mizael Martinez

    Seller's Agent in 2018

    Mizael Martinez

    Coldwell Banker Realty

    (602) 578-5600

    59 Total Sales

    Mizael Martinez
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5693480

Arizona Regional Multiple Listing Service (ARMLS)

APN: 117-06-106A

Arizona Maricopa County Phoenix 85006 Central City

1849 E Virginia Ave, Phoenix, AZ

Not Listed for Sale

MultiFamily

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Arizona Regional Multiple Listing Service (ARMLS) All information should be verified by the recipient and none is guaranteed as accurate by ARMLS

Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393

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