NOT LISTED FOR SALE

210 E Jones Ave Phoenix, AZ 85040

South Mountain Neighborhood
15 Beds
13 Baths
3,150 Sq Ft
1946 Built

Last Sold May 26, 2017

Last sale price $372,000 $118 Per Sq Ft

10 Days on Market

Highlights

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

About This Home

As of May 2017

Motivated seller and priced to sell! This 12-unit property is a consistent cash flow opportunity with several long-term tenants. The property includes 10 one-bedroom units, a two-bedroom / one-bathroom house, and a three-bedroom / two-bathroom house. 210 East Jones Avenue has newer roofs, newer plumbing, and the owner recently added covered parking. Additionally, the exterior plumbing line was replaced under the current ownership. The property boasts an in-place CAP rate of 9.04% with the ability to raise operations to a 9.68% CAP based off proforma projections. The owner currently provides free rent to one unit where the property manager/ maintenance man resides. He is willing to stay on board and continue if the new owner decides to maintain this arrangement.

Last Agent to Sell the Property

Ryan Smith

ZENDOOR License #BR659309000 Listed on: 05/02/2017

Last Buyer's Agent

Ryan Smith

ZENDOOR License #BR659309000 Listed on: 05/02/2017

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,919

Year Built

  • Built in 1946

Lot Details

  • Additional Parcels

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Stucco

Parking

  • 8 Open Parking Spaces
  • 14 Parking Spaces
  • 6 Covered Spaces

Utilities

  • Multiple cooling system units
  • Cooling System Mounted To A Wall/Window
  • Heating System Uses Natural Gas

Listing and Financial Details

  • The owner pays for trash collection, water, sewer, landscaping
  • Legal Lot and Block 15 / A
  • Assessor Parcel Number 113-11-015

Community Details

Overview

  • 4 Buildings
  • 12 Units
  • Building Dimensions are 24,842 SF
  • Eleven Palms Blk B, C Subdivision

Building Details

  • Operating Expense $34,308
  • Net Operating Income $40,642

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,919

Year Built

Built in 1946

Lot Details

0

Listing Details

  • Cross Street: Central & Broadway
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R-4
  • Number Of Buildings: 4
  • Year Built: 1946
  • Tax Year: 2016
  • Road Surface Type: Gravel, Dirt, Asphalt
  • Professional Management Expense: 4981.0
  • Subdivision Name: ELEVEN PALMS BLK B, C
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances Included:Refrigerator: Yes
  • Appliances Included:Dishwasher: Yes
  • Appliances Included:Disposal: Yes
  • Appliances Included:Microwave2: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Stucco, Frame - Wood
  • Roof: See Remarks, Composition
  • Construction:Frame - Wood: Yes

Garage/Parking

  • Total Covered Spaces: 6.0
  • Open Parking Spaces: 8.0
  • Total Parking Spaces: 14.0
  • General Property Description:Covered Parking Spcs: 6.0
  • General Property Description:Uncvrd Parking Spcs: 8.0
  • General Property Description:Total Parking Spcs: 14.0
  • Parking:Street Parking: Yes
  • Parking:_one_ SpaceUnit: Yes

Utilities

  • Electric: SRP
  • Cooling: 2 or More Units, Individual, Wall/Window Unit(s)
  • Heating: Natural Gas
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Natural Gas: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Community Amenities:No Pool: Yes

Fee Information

  • Annual Water Sewer Expense: 7704.0

Lot Info

  • Lot Size: 24,842 SF
  • Additional Parcels: Yes
  • Parcel #: 113-11-015

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Number Of Units Total: 12
  • Electric Expense: 7704.0
  • Insurance Expense: 3600.0
  • Maintenance Expense: 5400.0
  • Property Net Operating Income: 40642.0
  • Annual Operating Expense: 34308.0

Tax Info

  • Tax Annual Amount: 1919.0
  • Tax Block: A
  • Tax Book Number: 113.00
  • Tax Lot: 15
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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
05/26/2017 05/26/17 Sold $372,000 -11.4% $118 / Sq Ft
05/02/2017 05/02/17 For Sale $420,000 -- $133 / 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 $2,016 $13,371 -- --
2024 $1,908 $12,734 -- --
2023 $1,908 $61,590 $4,730 $56,860
2022 $1,870 $42,190 $3,240 $38,950
2021 $1,908 $35,250 $2,710 $32,540
2020 $1,884 $30,040 $2,310 $27,730
2019 $1,823 $30,570 $2,350 $28,220
2018 $1,774 $22,320 $1,710 $20,610
2017 $1,691 $19,680 $1,510 $18,170
2016 $1,608 $17,560 $1,350 $16,210
2015 $1,514 $13,980 $1,070 $12,910
Source: Public Records

Agents Affiliated with this Home

  • Ryan Smith

    Seller's Agent in 2017

    Ryan Smith

    ZENDOOR

    (602) 566-7203

    Ryan Smith
    Section Image
  • J Bax

    Buyer Co-Listing Agent in 2017

    J Bax

    ABI Multifamily

    (480) 500-0808

    2 Total Sales

    J Bax
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5599080

Arizona Regional Multiple Listing Service (ARMLS)
Arizona Maricopa County Phoenix 85040 South Mountain

210 E Jones 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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