NOT LISTED FOR SALE

1938 E Adams St Phoenix, AZ 85034

Central City Neighborhood
24 Beds
-- Bath
1,107 Sq Ft
1961 Built

Last Sold April 13, 2012

Last sale price $262,000 $237 Per Sq Ft

283 Days on Market

Highlights

  • Cooling Available
  • Painted or Stained Flooring
  • Heating System Uses Natural Gas
  • Phoenix Coding Academy Rated A

About This Home

As of April 2012

The Adams Group Apartments consists of 3 buildings, all on individual parcels. There is a 4-plex, a 5-plex, and a 2-story 8-plex with a total of 10 one bedroom/one bath and 7 two bedroom/one bath apartments. Most of the units have been rehabbed and have ceramic tile floors. Many have private back yards. All are individually metered for electricity. Expenses indicated on this listing represent expense totals for all 3 buildings. The buildings were built in 1947, 1956, and 1961.The property is very close to the light rail and Hwy 51, making it easy to access the Phoenix metropolitan area. There is a police sub-station across the street.

Last Agent to Sell the Property

Terry Kass

R.O.I. Properties License #BR503783000 Listed on: 05/30/2011

Last Buyer's Agent

Patrick O'Sullivan

Get Multifamily License #BR634211000

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1961

Home Design

  • Composition Shingle Roof
  • Block Exterior

Kitchen

  • Oven or Range

Flooring

  • Painted or Stained Flooring
  • Ceramic Tile
  • Vinyl

Utilities

  • Cooling Available
  • Heating System Uses Natural Gas

Listing and Financial Details

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

Community Details

Overview

  • $5,976 per year Dock Fee
  • 17 Units
  • Building Dimensions are 7000 sf

Building Details

  • Insurance Expense $1,800

Property Details

Home Type

Multi-Family

Year Built

Built in 1961

Lot Details

0

Listing Details

  • Tax Municipality: Phoenix
  • Appliances Included: BI Oven/Range, Refrigerator
  • Construction Finish: Painted
  • Cross Street: 20th Street and Adams
  • Floors: Ceramic Tile, Vinyl
  • Legal Info Lot Number: 22
  • Legal Info Range: 3E
  • Legal Info Section: 10
  • Legal Info Township: 1N
  • Roads Streets: Asphalt
  • Property Type: F
  • Legal Description Abbrev: COLLINS PHOENIX BLKS 23-26, 17, 27
  • Marketing Name: Adams Group Apartments
  • Ownership: Fee Simple
  • Uncvrd Parking Spcs: 17.00
  • Map Code Grid: Q35
  • Year Built: 1961
  • Tax Year: 2011
  • Directions: From Van Buren Street, go south on 20th Street to Adams, then right (west) on Adams. Property will be on your right.
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Roofing: Comp Shingle
  • Construction: Block

Garage/Parking

  • Parking: 1 Space/Unit
  • Total Parking Spaces: 17.00

Utilities

  • Water: City Franchise
  • Electric: APS
  • Gas: SW Gas
  • Cooling: Electric
  • Heating: Electric, Natural Gas

Condo/Co-op/Association

  • Community Amenities: No Pool

Lot Info

  • Lot Size: 7000 sf

Multi Family

  • Income And Expenses Adjusted Gross Inc: 66544.80
  • Income And Expenses Annual Elec Exp: 2100.00
  • Income And Expenses Annual Ins Exp: 1800.00
  • Income And Expenses Annual Maint Exp: 8500.00
  • Income And Expenses Annual Mgmt Exp: 6393.00
  • Income And Expenses Annual Rplcmnt Rsrvs: 2550.00
  • Income And Expenses Annual Trash Exp: 2160.00
  • Income And Expenses Annual Water Sewer Exp: 5240.00
  • Income And Expenses Gross Annual Sch Inc: 78288.00
  • Income And Expenses Net Operating Income: 30826.00
  • Income And Expenses Operating Exp: 34719.00
  • Income And Expenses Vacancy Allowance: 0.15
  • Number Of One Bedroom Units: 10
  • Number Of Two Bedroom Units: 7
  • One Bedroom Units Avg Rent: 350.00
  • One Bedroom Units Avg Sq Ft: 507
  • One Bedroom Units Baths: 1
  • Owner Pays: Sewer, Trash Collection, Water
  • Tenant Pays: Electric, Gas
  • Total Numberof Buildings: 3
  • Total Numberof Units: 17.00
  • Two Bedroom Units Avg Rent: 432.00
  • Two Bedroom Units Avg Sq Ft: 600
  • Two Bedroom Units Baths: 1

Tax Info

  • Taxes: 5976.00

Range of Values:

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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 Change Sq Ft Price
04/13/2012 04/13/12 Sold $262,000 -18.1% $237 / Sq Ft
03/08/2012 03/08/12 Pending -- -- --
05/30/2011 05/30/11 For Sale $320,000 -- $289 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Terry Kass

    Seller's Agent in 2012

    Terry Kass

    R.O.I. Properties

    (602) 330-2525

    1 in this area

    28 Total Sales

    Section Image
  • Patrick O'Sullivan

    Buyer's Agent in 2012

    Patrick O'Sullivan

    Get Multifamily

    (602) 842-5050

    5 in this area

    29 Total Sales

    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 4596163

Arizona Regional Multiple Listing Service (ARMLS)

Arizona Maricopa County Phoenix 85034 Central City

1938 E Adams St, Phoenix, AZ

This home is located at 1938 E Adams St, Phoenix, AZ 85034 since 30 May 2011. This property was built in 1961. 1938 E Adams St is a home located in Maricopa County with nearby schools including Garfield School, North High School, and Phoenix Coding Academy.

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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