N
Seller's Agent in 2013
Natan Jacobs
Vestis Group
2424 E Grandview Rd Phoenix, AZ 85032
Paradise Valley Village Neighborhood
1
Bed
1
Bath
600
Sq Ft
1984
Built
Highlights
- Private Pool
- Partially Fenced Property
- Heating Available
- Cooling Available
- Desert Landscape
About This Home
As of July 2013Grandview Terrace is a 36-unit apartment community located in North Phoenix. Located on East Grandview Road, west of the SR-51 Freeway, and east of Cave Creek Road, near Lookout Mountain, Paradise Valley Community College, Costco, Arizona Christian University, shopping, schools, and plenty of transportation options. Property is being sold ''As-Is.'' For the investor: This property offers the rare opportunity to acquire 80s vintage apartments (fully rehabbed in 2012). Projected gross potential rent of $234,000, less 12% vacancy of $28,080 per year, added income of $2,200, equals $208,120 adjusted gross income. After expenses of $101,176, the pro forma net operating income is $106,944. This is a 8.23% CAP RATE!
Last Agent to Sell the Property
Natan Jacobs
Vestis Group License #BR525576000 Listed on: 05/28/2013
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $10,034
Year Built
- Built in 1984
Lot Details
- Partially Fenced Property
- Desert Landscape
- Additional Parcels
Home Design
- Composition Roof
- Block Exterior
- Stucco
Parking
- 52 Parking Spaces
- Carport
- Free Parking
- Paved Parking
- Additional Parking
- 16 Open Parking Spaces
Pool
- Private Pool
- Pool Equipment or Cover
Utilities
- Cooling Available
- Heating Available
- Separate Meters
- Natural Gas Not Available
Listing and Financial Details
- Tenant pays for electricity, cable TV
- The owner pays for water, sewer, trash collection, landscaping, pool maintenance
- Tax Lot 16
- Assessor Parcel Number 214-27-002-D
Community Details
Overview
- 3 Buildings
- 36 Units
- Building Dimensions are IRR
- Grandview Terrace Apartments Subdivision
Recreation
- Heated Community Pool
Building Details
- Operating Expense $101,176
- Gross Income $207,856
- Net Operating Income $111,624
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 07/10/2013 07/10/13 | Sold | $1,350,000 | +3.8% | $2,250 / Sq Ft |
| 05/31/2013 05/31/13 | Pending | -- | -- | -- |
| 05/28/2013 05/28/13 | For Sale | $1,300,000 | -- | $2,167 / Sq Ft |
Source: Arizona Regional Multiple Listing Service (ARMLS)
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 | $17,547 | $171,693 | -- | -- |
| 2024 | $16,733 | $163,517 | -- | -- |
| 2023 | $16,733 | $364,210 | $72,840 | $291,370 |
| 2022 | $16,565 | $301,760 | $60,350 | $241,410 |
| 2021 | $16,613 | $248,870 | $49,770 | $199,100 |
| 2020 | $16,100 | $192,180 | $38,430 | $153,750 |
| 2019 | $11,066 | $159,450 | $31,880 | $127,570 |
Source: Public Records
Agents Affiliated with this Home
-
-
Rick Horst
Buyer's Agent in 2013
Rick Horst
Keller Williams Arizona Realty
(480) 767-3014
2 in this area
33 Total Sales
Map
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 4943606
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.
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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