NOT LISTED FOR SALE

2316 E Roosevelt St Phoenix, AZ 85006

Central City Neighborhood
16 Beds
14 Baths
1,736 Sq Ft
1949 Built

Last Sold December 26, 2023

Last sale price $1,900,000 $1,094 Per Sq Ft

19 Days on Market

Highlights

  • Evaporated cooling system
  • Ceiling Fan
  • Individual Controls for Heating
  • Phoenix Coding Academy Rated A
  • Vinyl Flooring

About This Home

As of December 2023

Great Opportunity To Purchase This 14 Unit Apartment Community Consisting of 10 Two Bedroom One Bath Units and 4 One Bedroom One Bath Units Located Just East of Downtown Phoenix. Updates Include Newer Roofs, Windows, Evap Coolers, Mini-Splits, Flooring, Interior Paint & Some Replaced Cabinets In A Few of The Units. Property Is Comprised of 8 Buildings & Situated on 2 Parcels of Land Totaling Over 1 Acre. All Units Have Their Own Electric Meters. Located At 24th Street & Roosevelt This Property Is Conveniently Located Near Several Major Employers, Major Freeways & Sky Harbor Airport.

Last Agent to Sell the Property

Daniel Schaffler

Compass License #BR647934000 Listed on: 09/02/2023

Last Buyer's Agent

Mitchell Drake

ABI Multifamily License #SA675761000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,266

Year Built

  • Built in 1949

Lot Details

  • Additional Parcels

Home Design

  • Composition Roof
  • Block Exterior
  • Stucco

Interior Spaces

  • Ceiling Fan
  • Vinyl Flooring

Parking

  • 32 Open Parking Spaces
  • 32 Parking Spaces

Utilities

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

Listing and Financial Details

  • The owner pays for trash collection, water, sewer, landscaping
  • Assessor Parcel Number 116-04-114-C

Community Details

Overview

  • 8 Buildings
  • 14 Units
  • Building Dimensions are 297x155
  • The Franklin Subdivision

Building Details

  • Operating Expense $46,181
  • Gross Income $155,800
  • Net Operating Income $118,100

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,266

Year Built

Built in 1949

Lot Details

0

Listing Details

  • Cross Street: 24th Street & Roosevelt Street
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R-5 & C-1
  • Number Of Buildings: 8
  • Ownership: Fee Simple
  • Year Built: 1949
  • Tax Year: 2023
  • Directions: Use GPS
  • Road Surface Type: Asphalt
  • Professional Management Expense: 11550.0
  • Subdivision Name: The Franklin
  • Tax Parcel Letter: C
  • Cooling:Ceiling Fan(s): Yes
  • Roofing:Composition: Yes
  • Water Source City Franchise2: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Vinyl
  • Appliances: Free-Standing Range, Other, Refrigerator
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Other (See Remarks)56: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Stucco, Block
  • Roof: Composition
  • Construction:Block: Yes

Garage/Parking

  • Parking Features: <1 Space Per Unit
  • Attached Garage: No
  • Open Parking Spaces: 32.0
  • Total Parking Spaces: 32.0
  • General Property Description:Uncvrd Parking Spcs: 32.0
  • General Property Description:Total Parking Spcs: 32.0

Utilities

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

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Desert Landscaping: Yes

Fee Information

  • Annual Fuel Expense: 1100.0
  • Trash Expense: 5000.0
  • Annual Water Sewer Expense: 5730.0

Schools

  • Junior High Dist: Phoenix Union High School District

Lot Info

  • Lot Size: 297x155
  • Additional Parcels: Yes
  • Parcel #: 116-04-114-C

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Number Of Units Total: 14
  • Electric Expense: 550.0
  • Annual Gross Income: 155800.0
  • Insurance Expense: 3000.0
  • Maintenance Expense: 6000.0
  • Property Net Operating Income: 118100.0
  • Annual Operating Expense: 46181.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 3266.0
  • Tax Book Number: 116.00
  • Tax Lot: .

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 List to Sale Price per Sq Ft Prior Sale
12/26/2023 12/26/23 Sold $1,900,000 -13.6% $1,094 / Sq Ft
09/22/2023 09/22/23 Pending -- -- --
09/19/2023 09/19/23 Price Changed $2,200,000 -1.8% $1,267 / Sq Ft
09/02/2023 09/02/23 For Sale $2,240,000 +37.8% $1,290 / Sq Ft
10/13/2020 10/13/20 Sold $1,625,000 -9.5% $936 / Sq Ft View Prior Sale
09/15/2020 09/15/20 Pending -- -- --
08/26/2020 08/26/20 For Sale $1,795,000 -- $1,034 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Daniel Schaffler

    Seller's Agent in 2023

    Daniel Schaffler

    Compass

    (480) 340-6246

    7 in this area

    142 Total Sales

    Daniel Schaffler
    Section Image
  • Mitchell Drake

    Buyer's Agent in 2023

    Mitchell Drake

    ABI Multifamily

    (602) 714-1400

    7 in this area

    27 Total Sales

    Mitchell Drake
    Section Image
  • Craig Young

    Seller's Agent in 2020

    Craig Young

    REI Marketing

    (480) 773-2183

    16 in this area

    168 Total Sales

    Craig Young
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6599818

Arizona Regional Multiple Listing Service (ARMLS)
Arizona Maricopa County Phoenix 85006 Central City

2316 E Roosevelt St, Phoenix, AZ

This home is located at 2316 E Roosevelt St, Phoenix, AZ 85006 since 02 September 2023. This property was built in 1949. 2316 E Roosevelt St is a home located in Maricopa County with nearby schools including Excelencia School, Camelback 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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