NOT LISTED FOR SALE

2345 E Washington St Phoenix, AZ 85034

Central City Neighborhood

Estimated Value: $388,646 - $506,000

-- Bed
-- Bath
3,961 Sq Ft
$113/Sq Ft Est. Value

Last Sold April 17, 2014

Last sale price $175,000 $44 Per Sq Ft

Est. 156% increase in value since last sale

Current estimated payment $2,679/month

57 Days on Market

Highlights

  • Wood Flooring
  • 1-minute walk to 24Th St/Washington
  • Central Air
  • Phoenix Coding Academy Rated A

About This Home

As of April 2014

Older corner street retail property with A-1 Industrial zoning on the light rail and across from a station. Two tenants, 1800 sf art gallery and the Taxi Inn Bar that has been there for at least 30 yrs. Bar has 3 yrs on lease pays $1440 mo, Gallery (1800 sf) pays $950 mo and there is $452 mo income off outdoor signs. This is a 9.22% Cap. Call for a spreadsheet showing income & expense. Re-roofed and re-painted five years ago and parking re-paved in 2010. Asphalt sealed and striped 1/14.

Last Agent to Sell the Property

Randy Molander

Molander Commerical RE License #BR009344000 Listed on: 02/06/2014

Last Buyer's Agent

Patrick Logue

Urban Group Realty, LLC License #BR005871000

Property Details

Property Type

  • Other

Year Built

  • Built in 1940

Lot Details

  • 0.3 Acre Lot
  • Property fronts an alley
  • Property is zoned A-1

Home Design

  • 3,961 Sq Ft Home
  • Brick Exterior Construction

Flooring

  • Wood
  • Concrete
  • Ceramic Tile

Parking

  • 20 Open Parking Spaces
  • 20 Parking Spaces
  • Private Parking
  • Paved Parking
  • Fenced Parking

Utilities

  • Central Air
  • Heat Pump System

Additional Features

  • Basement

Listing and Financial Details

  • Tax Lot 1
  • Assessor Parcel Number 115-08-028-A

Community Details

Overview

  • Delshire Place Subdivision

Building Details

  • Operating Expense $10,829
  • Gross Income $32,843
  • Net Operating Income $22,014

Property Details

Property Type

Other

Year Built

Built in 1940

Lot Details

0

Listing Details

  • Cross Street: 24th St & E Washington St
  • Legal Info Range: 3E
  • Property Type: Comm/Industry Sale
  • Zoning: A-1
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1940
  • Tax Year: 2013
  • Lot Size Acres: 0.3
  • Road Frontage Type: Alley
  • Road Surface Type: Asphalt, Dedicated Street, Curb(s) & Gutter(s), Sidewalk(s)
  • Professional Management Expense: 1037.16
  • Subdivision Name: Delshire Place
  • Structure Type: Commercial
  • Tax Parcel Letter: A
  • Construction Brick: Yes
  • Special Features: None
  • Property Sub Type: Other

Interior Features

  • Flooring: Ceramic Tile, Wood, Concrete
  • Living Area: 3961.0

Exterior Features

  • Fencing: None
  • Disclosures: None
  • Construction Type: Brick
  • Roof: Rolled/Hot Mop

Garage/Parking

  • Parking Features: Paved Parking, Private Parking, Fenced
  • Attached Garage: No
  • Open Parking Spaces: 20.0
  • Total Parking Spaces: 20.0
  • General Property Description:Uncvrd Parking Spcs: 20.0
  • General Property Description:Total Parking Spcs: 20.0
  • Parking:Paved Parking: Yes
  • Parking:Private Parking: Yes
  • Parking:Fenced: Yes

Utilities

  • Electric: SRP
  • Cooling: Central A/C
  • Heating: None, Heat Pump
  • Green Building Features: Basement
  • Water Source: City Franchise
  • Heating:Heat Pump2: Yes
  • Heating:None29: Yes

Association/Amenities

  • Amenities:Basement: Yes

Lot Info

  • Lot Size Sq Ft: 12902.0
  • Parcel #: 115-08-028-A
  • ResoLotSizeUnits: SquareFeet

Multi Family

  • Annual Gross Income: 32843.4
  • Insurance Expense: 1200.0
  • Property Net Operating Income: 22014.24
  • Annual Operating Expense: 10829.16
  • Vacancy Allowance Rate: 0.05
  • Leasable Area: 3961.0

Tax Info

  • Tax Annual Amount: 7692.0
  • Tax Book Number: 115.00
  • Tax Lot: 1
  • Tax Map Number: 8.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 6, 2014
Closed on
Apr 10, 2014
Sold by
Tang Rodney and Tang Rodney L
Bought by
Ejg Investments Llc
Seller's Agent
Randy Molander
Molander Commerical RE
Buyer's Agent
Patrick Logue
Urban Group Realty, LLC
List Price
$225,000
Sold Price
$175,000
Premium/Discount to List
-$50,000
-22.22%
Current Estimated Value
$447,323

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$272,323
Avg. Annual Appreciation
8.34%

Purchase Details

Closed on
Sep 1, 2005
Sold by
Tang Rodney
Bought by
City Of Phoenix
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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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
Ejg Investments Llc $175,000 Stewart Title & Trust Of Pho
City Of Phoenix -- --
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
04/17/2014 04/17/14 Sold $175,000 -22.2% $44 / Sq Ft
04/03/2014 04/03/14 Pending -- -- --
02/05/2014 02/05/14 For Sale $225,000 -- $57 / 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 $4,017 $28,797 $28,797 --
2024 $3,774 $27,426 $27,426 --
2023 $3,774 $38,865 $38,865 $0
2022 $3,555 $41,805 $41,805 $0
2021 $3,607 $41,805 $41,805 $0
2020 $3,592 $39,585 $39,585 $0
2019 $6,069 $59,022 $42,588 $16,434
2018 $5,996 $45,126 $29,178 $15,948
2017 $5,573 $42,480 $27,018 $15,462
2016 $5,706 $31,500 $22,263 $9,237
2015 $5,721 $32,375 $22,881 $9,494
Source: Public Records

Agents Affiliated with this Home

  • R

    Seller's Agent in 2014

    Randy Molander

    Molander Commerical RE

  • P

    Buyer's Agent in 2014

    Patrick Logue

    Urban Group Realty, LLC

See All Agents

Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5065969

Arizona Regional Multiple Listing Service (ARMLS)

APN: 115-08-028A

Arizona Maricopa County Phoenix 85034 Central City

2345 E Washington St, Phoenix, AZ

Not Listed for Sale

Other

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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