NOT LISTED FOR SALE

Estimated Value: $535,000 - $694,000

Studio
-- Bath
2,960 Sq Ft
$205/Sq Ft Est. Value

Last Sold October 21, 2022

Last sale price $575,000 $194 Per Sq Ft

Est. 5% increase in value since last sale

Current estimated payment $3,249/month

79 Days on Market

Highlights

  • Cooling Available
  • Ceiling Fan
  • Heating Available
  • Phoenix Coding Academy Rated A
  • Concrete Flooring

About This Home

As of October 2022

Four on Alicia is all two bedroom one bath units in South Phoenix. Units have some remodeling done with mini split and window a/c units. All tenants are month to month and paying way below market rents at 550-650 range. Market rent in the area are 1,100 to 1350. All units have washer and dryer hook ups. Block construction and desert landscaping. All facts and figures are approximate buyer verify MLS information. Drive by only

Last Agent to Sell the Property

Sophia Baron

Grace CRE License #BR648866000 Listed on: 06/18/2022

Co-Listed By

Michael Gordon

Grace CRE License #BR688636000

Last Buyer's Agent

Shelly Farley

RE/MAX Solutions License #BR516886000

RE/MAX Solutions

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $907

Year Built

  • Built in 1961

Lot Details

  • 7,318

Home Design

  • Composition Roof
  • Block Exterior

Interior Spaces

  • Ceiling Fan

Flooring

  • Concrete
  • Vinyl

Parking

  • 4 Open Parking Spaces
  • 4 Parking Spaces
  • Paved Parking
  • On-Street Parking

Schools

  • Roosevelt Elementary School
  • South Mountain High School

Utilities

  • Cooling Available
  • Heating Available

Listing and Financial Details

  • Tenant pays for electricity, cable TV
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 2
  • Assessor Parcel Number 122-35-056

Community Details

Overview

  • 4 Units
  • Building Dimensions are IRR
  • Lot 2 Alicia 3 Mcr 009728 Subdivision

Building Details

  • Operating Expense $11,271
  • Gross Income $50,160
  • Net Operating Income $38,889

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$907

Year Built

Built in 1961

Lot Details

0

Listing Details

  • Cross Street: Brodway/24th Street
  • Property Type: Multiple Dwellings
  • Zoning: MULTI
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1961
  • Tax Year: 2021
  • Road Surface Type: Asphalt, Dedicated Street
  • Professional Management Expense: 2500.0
  • Co List Office Mls Id: grcr001
  • Co List Office Phone: 602-758-9981
  • Subdivision Name: LOT 2 ALICIA 3 MCR 009728
  • Cooling:Ceiling Fan(s): Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Vinyl, Concrete
  • Appliances Included:FS OvenRange: Yes

Exterior Features

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

Garage/Parking

  • Parking Features: Paved Parking, >1 Space Per Unit, Street Parking
  • Attached Garage: No
  • Open Parking Spaces: 4.0
  • Total Parking Spaces: 4.0
  • General Property Description:Uncvrd Parking Spcs: 4.0
  • General Property Description:Total Parking Spcs: 4.0
  • Parking:Street Parking: Yes
  • Parking:_greater_1 Space Per Unit: Yes
  • Parking:Paved Parking: Yes

Utilities

  • Electric: APS
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes
  • Main Cooling Other: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Unfurnished: Yes
  • Interior Amenities:Other (See Remarks)51: Yes

Fee Information

  • Trash Expense: 1200.0
  • Annual Water Sewer Expense: 1500.0

Schools

  • Elementary School: Roosevelt Elementary School
  • High School: South Mountain High School
  • Junior High Dist: Phoenix Union High School District
  • Middle Or Junior School: Roosevelt Elementary School

Lot Info

  • Lot Size: IRR
  • Additional Parcels: No
  • Parcel #: 122-35-056

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Electricity, Cable TV
  • Number Of Units Total: 4
  • Annual Gross Income: 50160.0
  • Insurance Expense: 1200.0
  • Maintenance Expense: 2000.0
  • Property Net Operating Income: 38889.0
  • Annual Operating Expense: 11271.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 907.0
  • Tax Book Number: 122.00
  • Tax Lot: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 18, 2022
Closed on
Oct 7, 2022
Sold by
Abadjian Haroutioun and Abadjian Marie
Bought by
Michael D Kent Trust
Seller's Agent
Sophia Baron
Grace CRE
Buyer's Agent
Shelly Farley
RE/MAX Solutions
List Price
$628,000
Sold Price
$575,000
Premium/Discount to List
-$53,000
-8.44%
Views
10
Current Estimated Value
$606,062

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$31,062
Avg. Annual Appreciation
1.65%
Original Mortgage
$431,250
Outstanding Balance
$414,553
Interest Rate
5.89%
Mortgage Type
New Conventional
Estimated Equity
$191,509

Purchase Details

Listed on
Aug 17, 2017
Closed on
Dec 5, 2017
Sold by
Xcaret Apartments Llc
Bought by
Abadjian Haroutioun and Abadjian Marie
Seller's Agent
Sophia Baron
Grace CRE
Buyer's Agent
Janette Gentry
West USA Realty
List Price
$200,000
Sold Price
$192,000
Premium/Discount to List
-$8,000
-4%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
25.32%

Purchase Details

Closed on
Feb 8, 2008
Sold by
Flores Gregorio Lopez and Lopez Greg
Bought by
Xcaret Apartments Llc

Purchase Details

Closed on
Jan 4, 2002
Sold by
Joksimovich Gordon
Bought by
Lopez Gregorio F

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$6,175
Interest Rate
6.84%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Feb 28, 1997
Sold by
Austin Funding Inc
Bought by
Joksimovich Gordon

Purchase Details

Closed on
Sep 23, 1994
Sold by
Citibank and Deutsch Seymour
Bought by
Austin Funding Inc
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Michael D Kent Trust $575,000 American Title Services
Abadjian Haroutioun $196,000 Great American Title Agency
Abadjian Haroutioun $195,000 Great American Title Agency
Xcaret Apartments Llc -- None Available
Lopez Gregorio F -- Grand Canyon Title Agency
Joksimovich Gordon $50,000 Security Title Agency
Austin Funding Inc -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Michael D Kent Trust $431,250
Previous Owner Lopez Gregorio F $6,175
Closed Lopez Gregorio F $111,150
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
10/21/2022 10/21/22 Sold $575,000 -0.7% $194 / Sq Ft
09/04/2022 09/04/22 Pending -- -- --
08/30/2022 08/30/22 Price Changed $579,000 -3.5% $196 / Sq Ft
07/16/2022 07/16/22 Price Changed $599,900 -4.5% $203 / Sq Ft
06/17/2022 06/17/22 For Sale $628,000 +227.1% $212 / Sq Ft
12/12/2017 12/12/17 Sold $192,000 -4.0% $65 / Sq Ft View Prior Sale
08/16/2017 08/16/17 For Sale $200,000 -- $68 / 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 $958 $6,354 -- --
2024 $907 -- -- --
2023 $907 $38,170 $7,630 $30,540
2022 $889 $24,130 $4,820 $19,310
2021 $907 $19,110 $3,820 $15,290
2020 $896 $16,310 $3,260 $13,050
2019 $866 $13,370 $2,670 $10,700
2018 $843 $9,820 $1,960 $7,860
2017 $804 $9,100 $1,820 $7,280
2016 $764 $8,300 $1,660 $6,640
2015 $720 $6,820 $1,360 $5,460
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6419438

Arizona Regional Multiple Listing Service (ARMLS)

APN: 122-35-056