NOT LISTED FOR SALE
-- Beds
2 Baths
2,518 Sq Ft
10,019 Sq Ft Lot

Sale Details

Date Sold: May 29, 2020

Last sale price $4,470,000 $1,775 Per Sq Ft

214 Days on Market

Highlights

  • Heated Community Pool
  • Central Air
  • Concrete Flooring
  • Phoenix Coding Academy Rated A
  • Ceiling Fan
  • Heating Available

About This Home

As of May 2020

Each building of the Modern Retro Living is of single-story block construction with pitched roofs. The fully renovated property features in-suite laundry machines, private patios in select units, extra storage, and covered parking. The community also features attractive resort-style grounds with a large swimming pool and mature landscaping around the property.The units at the Modern Retro Living have been extensively renovated in 2016. They feature modern shaker-style cabinetry with brushed nickel hardware, new countertops with subway tile backsplashes, polished concrete flooring, full-size stainless-steel appliances with dishwashers and built-in microwaves, contemporary bathroom vanities, subway tile shower surrounded with new brushed nickel fixtures, ceiling

Last Agent to Sell the Property

Dallin Hammond

ABI Multifamily License #SA677560000 Listed on: 09/27/2019

Last Buyer's Agent

Ryan Smith

ZENDOOR License #BR659309000

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Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,695

Year Built

  • Built in 1956

Lot Details

  • Additional Parcels

Home Design

  • Composition Roof
  • Block Exterior

Interior Spaces

  • Ceiling Fan
  • Concrete Flooring

Parking

  • 23 Parking Spaces
  • 23 Covered Spaces
  • Common or Shared Parking

Utilities

  • Central Air
  • Heating Available

Listing and Financial Details

  • The owner pays for water, sewer, landscaping, pool/spa maintenance
  • Assessor Parcel Number 119-21-021-E

Community Details

Overview

  • 8 Buildings
  • 23 Units
  • Building Dimensions are 285 x 267

Recreation

  • Heated Community Pool

Building Details

  • Operating Expense $104,244
  • Gross Income $335,252
  • Net Operating Income $257,347

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,695

Year Built

Built in 1956

Lot Details

10,019 Sq Ft Lot

Listing Details

  • Cross Street: Indian School & 22nd Street
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 8
  • Year Built: 1956
  • Tax Year: 2019
  • Road Surface Type: Asphalt
  • Professional Management Expense: 12840.0
  • Tax Parcel Letter: E
  • Cooling:Ceiling Fan(s): Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Concrete
  • Appliances Included:Refrigerator: Yes
  • Appliances Included:Dishwasher: Yes
  • Appliances Included:Disposal: Yes
  • Appliances Included:Microwave2: Yes
  • Appliances Included:WasherDryer: Yes
  • Appliances Included:BI OvenRange: Yes

Exterior Features

  • Disclosures: Other (See Remarks)
  • Construction Type: Painted, Block
  • Roof: See Remarks, Composition
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 23.0
  • Parking Features: Common
  • Attached Garage: No
  • Total Parking Spaces: 23.0
  • General Property Description:Covered Parking Spcs: 23.0
  • General Property Description:Total Parking Spcs: 23.0
  • Parking:Carport: Yes
  • Parking:_one_ SpaceUnit: Yes

Utilities

  • Electric: APS
  • Cooling: Central A/C, Ceiling Fan(s)
  • Heating: Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes

Condo/Co-op/Association

  • Community Features: Pool

Association/Amenities

  • Exterior Amenities:Landscape Wtr System: Yes
  • Exterior Amenities:Green Landscaping: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Community Amenities:Pool2: Yes
  • Interior Amenities:Unfurnished: Yes

Fee Information

  • Annual Water Sewer Expense: 20856.0

Lot Info

  • Lot Size: 285 x 267
  • Additional Parcels: Yes
  • Parcel #: 119-21-021-E

Multi Family

  • Owner Pays: Water, Sewer, Landscaping, Pool/Spa Maintenance
  • Number Of Units Total: 23
  • Electric Expense: 4224.0
  • Annual Gross Income: 335252.15
  • Insurance Expense: 4740.0
  • Maintenance Expense: 5400.0
  • Property Net Operating Income: 257347.0
  • Annual Operating Expense: 104244.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 8695.0
  • Tax Book Number: 119.00
  • Tax Lot: -

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 27, 2019
Closed on
May 14, 2020
Sold by
Mode At Fairmount Llc
Bought by
Seller's Agent
Dallin Hammond
ABI Multifamily
Buyer's Agent
Ryan Smith
ZENDOOR
List Price
$4,600,000
Sold Price
$4,470,000
Premium/Discount to List
-$130,000
-2.83%

Purchase Details

Closed on
Jan 14, 2015
Sold by
Moretti Gerald R and Moretti Gerald R
Bought by
2122 East Fairmount Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,416,259
Interest Rate
3.82%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 20, 2000
Sold by
Venkatesh Properties Partnership Llp
Bought by
Wightman Kenneth S and Wightman Jean H

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$760,000
Interest Rate
8.12%
Mortgage Type
Commercial
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$4,470,000 Commonwealth Title
2122 East Fairmount Llc $1,500,000 Lawyers Title
Wightman Kenneth S $950,000 Capital Title Agency
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Previous Owner $1,416,259
Previous Owner Wightman Kenneth S $760,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
05/29/2020 05/29/20 Sold $4,470,000 0.0% $1,775 / Sq Ft
05/01/2020 05/01/20 Off Market $4,470,000 -- --
03/31/2020 03/31/20 Pending -- -- --
10/25/2019 10/25/19 Price Changed $4,554,000 -1.0% $1,809 / Sq Ft
08/30/2019 08/30/19 For Sale $4,600,000 -- $1,827 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $9,586 $70,968
2024 $9,120 $67,589
2023 $9,120 $163,850 $39,000 $124,850
2022 $8,762 $145,820 $34,710 $111,110
2021 $8,975 $136,920 $32,590 $104,330
2020 $8,757 $97,310 $23,160 $74,150
2019 $8,695 $77,700 $18,490 $59,210
2018 $8,516 $56,930 $13,550 $43,380
2017 $4,851 $47,620 $11,330 $36,290
2016 $4,663 $40,800 $9,710 $31,090
2015 $4,338 $32,620 $7,760 $24,860
Source: Public Records

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5983835

Arizona Regional Multiple Listing Service (ARMLS)

APN: 119-21-021H

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