NOT LISTED FOR SALE

2103 W Morten Ave Phoenix, AZ 85021

Alhambra Neighborhood
1 Bed
1 Bath
500 Sq Ft
0.42 Acres

Last Sold September 23, 2021

Last sale price $1,125,000 $2,250 Per Sq Ft

139 Days on Market

Highlights

  • Cooling System Mounted To A Wall/Window
  • Carpet
  • Individual Controls for Heating
  • Washington High School Rated A-

About This Home

As of September 2021

Great value-add with this quaint, 9 unit property in a fast improving North Phoenix neighborhood. Unit mix consists of 2 Studios – 3 One Bedrooms – 2 Two Bedrooms & 2 Two Bedrooms plus Den or could be 3rd bedroom. Property is low maintenance with steady Tenant base and offers residents a home style living experience with fenced yards, on-site Laundry and a Central courtyard. The asset has undergone substantial improvements such as new exterior paint, interior upgrades as units were turned over, and new roofs on 2 of the 3 buildings. AC units have been replaced as needed. Local commercial amenities nearby include Sprouts Farmers Market, Starbuck, LA Fitness & Fry's Market Place. Easy access to I-17. Short drive to some of the best North Central Corridor Restaurants. Great property to ride the Phoenix rental boom while adding value by bringing rents to market and through further upgrades.

Last Agent to Sell the Property

Dave Fernandez

DeLex Realty License #BR043628000 Listed on: 03/05/2021

DeLex Realty

Co-Listed By

Jamie Mahalek

DeLex Realty License #SA659532000

Last Buyer's Agent

Nure Elatari

eXp Realty License #SA689252000

eXp Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,265

Year Built

  • Built in 1968

Lot Details

  • 0.42

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Stucco

Flooring

  • Carpet

Parking

  • 9 Open Parking Spaces
  • 9 Parking Spaces
  • Free Parking

Utilities

  • Cooling System Mounted To A Wall/Window
  • Individual Controls for Heating
  • Window Unit Heating System
  • Master Water Meter

Listing and Financial Details

  • Tenant pays for electricity, cable TV
  • The owner pays for trash collection, water, sewer
  • Tax Lot 116
  • Assessor Parcel Number 157-22-039

Community Details

Overview

  • 3 Buildings
  • 9 Units
  • Building Dimensions are 18,200
  • Vista Income Estates 2 Subdivision

Building Details

  • Operating Expense $24,192
  • Gross Income $82,138
  • Net Operating Income $82,968

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,265

Year Built

Built in 1968

Lot Details

0

Listing Details

  • Cross Street: 21st Ave & Northern
  • Legal Info Range: 2E
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 3
  • Ownership: Fee Simple
  • Year Built: 1968
  • Tax Year: 2020
  • Directions: W on NORTHERN AVE, S on 21st Ave, to Morten & property is on S/W Corner of Morten
  • Road Surface Type: Gravel
  • Professional Management Expense: 4778.0
  • Co List Office Mls Id: cril01
  • Co List Office Phone: 602-230-7600
  • Subdivision Name: VISTA INCOME ESTATES 2
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet
  • Appliances: F/S Oven/Range
  • Appliances Included:FS OvenRange: Yes

Exterior Features

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

Garage/Parking

  • Parking Features: Free, 1 Space/Unit
  • Attached Garage: No
  • Open Parking Spaces: 9.0
  • Total Parking Spaces: 9.0
  • General Property Description:Uncvrd Parking Spcs: 9.0
  • General Property Description:Total Parking Spcs: 9.0
  • Parking:Free: Yes

Utilities

  • Electric: APS, Individual Meter
  • Cooling: Individual, Wall/Window Unit(s)
  • Heating: Individual, Window/Wall Unit(s)
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Master Meter
  • Heating:Individual: Yes
  • Heating:WindowWall Unit(s): Yes

Condo/Co-op/Association

  • Community Features: Other, See Remarks, No Pool

Association/Amenities

  • Exterior Amenities:Fenced3: Yes
  • Exterior Amenities:PatioBalcony: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Unfurnished: Yes

Fee Information

  • Trash Expense: 3170.0
  • Annual Water Sewer Expense: 3480.0

Schools

  • Junior High Dist: Glendale Union High School District

Lot Info

  • Lot Size: 18,200
  • Additional Parcels: No
  • Parcel #: 157-22-039

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Tenant Pays: Electricity, Cable TV
  • Number Of Units Total: 9
  • Electric Expense: 3299.0
  • Annual Gross Income: 82138.32
  • Insurance Expense: 2700.0
  • Maintenance Expense: 4500.0
  • Property Net Operating Income: 82968.0
  • Annual Operating Expense: 24192.0
  • Vacancy Allowance Rate: 0.01

Tax Info

  • Tax Annual Amount: 2265.0
  • Tax Book Number: 157.00
  • Tax Lot: 116

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
09/23/2021 09/23/21 Sold $1,125,000 -16.7% $2,250 / Sq Ft
08/21/2021 08/21/21 Price Changed $1,350,000 0.0% $2,700 / Sq Ft
07/22/2021 07/22/21 Pending -- -- --
03/05/2021 03/05/21 For Sale $1,350,000 0.0% $2,700 / Sq Ft
05/23/2016 05/23/16 Rented $495 0.0% --
05/20/2016 05/20/16 Under Contract -- -- --
04/26/2016 04/26/16 Price Changed $495 -10.0% $1 / Sq Ft
03/11/2016 03/11/16 For Rent $550 0.0% --
08/19/2015 08/19/15 Sold $370,000 +6.0% $740 / Sq Ft
05/29/2015 05/29/15 Pending -- -- --
05/19/2015 05/19/15 For Sale $349,000 -- $698 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Dave Fernandez

    Seller's Agent in 2021

    Dave Fernandez

    DeLex Realty

    (602) 469-7300

    2 in this area

    85 Total Sales

    Dave Fernandez
    Section Image
  • Jamie Mahalek

    Seller Co-Listing Agent in 2021

    Jamie Mahalek

    DeLex Realty

    (623) 910-2418

    2 in this area

    96 Total Sales

    Jamie Mahalek
    Section Image
  • Nure Elatari

    Buyer's Agent in 2021

    Nure Elatari

    eXp Realty

    (480) 270-5355

    1 in this area

    26 Total Sales

    Nure Elatari
    Section Image

  • S

    Seller's Agent in 2016

    Sherry L. Martin

    Venture REI, LLC

    (623) 221-8577

    Section Image

  • M

    Seller Co-Listing Agent in 2016

    Maria Johnson

    Carino Properties, LLC

    (602) 402-9122

    6 Total Sales

    Maria Johnson
    Section Image
  • G. William Franco

    Seller's Agent in 2015

    G. William Franco

    Compass Management Group

    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6203350

Arizona Regional Multiple Listing Service (ARMLS)

Arizona Maricopa County Phoenix 85021 Alhambra

2103 W Morten Ave, Phoenix, AZ

This home is located at 2103 W Morten Ave, Phoenix, AZ 85021 since 05 March 2021. This property was built in 1968. 2103 W Morten Ave is a home located in Maricopa County with nearby schools including Orangewood School, Washington High School, and SC Jensen Online.

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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