NOT LISTED FOR SALE

2425 E Thomas Rd Phoenix, AZ 85016

Camelback East Village Neighborhood

Estimated Value: $1,221,112

-- Bed
-- Bath
10,757 Sq Ft
$114/Sq Ft Est. Value

Last Sold November 13, 2013

Last sale price $572,000 $53 Per Sq Ft

Est. 113% increase in value since last sale

Current estimated payment $7,477/month

159 Days on Market

Highlights

  • Display Windows
  • Central Air
  • Heating Available
  • Phoenix Coding Academy Rated A
  • Concrete Flooring

About This Home

As of November 2013

Historically and currently 90+% occupancy. Predictable and steady cash flow. With 18 leasable spaces of approximately 600 square feet each, the existing configuration provides a match for the area tenancy. These easy to lease suites are contiguous allowing tenants to add more space– which many at the property have done. The property enjoys a strong drive-by exposure along the busy East Thomas Road at 24th Street. With proximity to freeways, service providers and a steady flow of customers, these suites are popular with small business. Historic operating expenses at the property have been low, allowing for strong cash flow.

Last Listed By

Scott Trevey

REI Marketing License #SA539099000 Listed on: 05/07/2013

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $7,478

Year Built

  • Built in 1955

Lot Details

  • 10,300 Sq Ft Lot
  • Property is zoned C-C, C-2

Home Design

  • Brick Exterior Construction
  • Built-Up Roof
  • Block Exterior

Interior Spaces

  • 10,757 Sq Ft Home
  • Display Windows
  • Concrete Flooring

Parking

  • 31 Open Parking Spaces
  • 31 Parking Spaces
  • Public Parking
  • Paved Parking

Utilities

  • Central Air
  • Heating Available

Listing and Financial Details

  • Tax Lot 1
  • Assessor Parcel Number 120-35-062

Community Details

Overview

  • Building Dimensions are irregular

Building Details

  • Gross Income $102,216
  • Net Operating Income $67,633

Property Details

Property Type

Other

Est. Annual Taxes

$7,478

Year Built

Built in 1955

Lot Details

0

Listing Details

  • Cross Street: Thomas & 24th St
  • Legal Info Range: 3E
  • Property Type: Comm/Industry Sale
  • Zoning: C-C, C-2
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1955
  • Tax Year: 2011
  • Directions: SR-51 to Thomas Rd, East- just past 24th Street on right (south) side of road.
  • Lot Size Acres: 0.24
  • Road Surface Type: Asphalt
  • Professional Management Expense: 4000.0
  • Structure Type: Office
  • Construction Brick: Yes
  • Special Features: None
  • Property Sub Type: Other

Interior Features

  • Flooring: Concrete
  • Living Area: 10757.0

Exterior Features

  • Fencing: None
  • Disclosures: None
  • Construction Type: Block, Brick
  • Roof: Built-Up
  • Construction:Block: Yes

Garage/Parking

  • Parking Features: Paved Parking, Public Parking
  • Attached Garage: No
  • Open Parking Spaces: 31.0
  • Total Parking Spaces: 31.0
  • General Property Description:Uncvrd Parking Spcs: 31.0
  • General Property Description:Total Parking Spcs: 31.0
  • Parking:Paved Parking: Yes
  • Parking:Public Parking: Yes

Utilities

  • Electric: APS
  • Cooling: Central A/C
  • Heating: Electric
  • Green Building Features: Display Window(s)
  • Water Source: City Franchise
  • Heating:Electric: Yes

Association/Amenities

  • Amenities:Display Window(s): Yes

Fee Information

  • Trash Expense: 3327.0
  • Annual Water Sewer Expense: 1017.0

Lot Info

  • Lot Size: irregular
  • Lot Size Sq Ft: 10300.0
  • Parcel #: 120-35-062
  • ResoLotSizeUnits: SquareFeet

Multi Family

  • Electric Expense: 5520.0
  • Annual Gross Income: 102216.3
  • Insurance Expense: 1868.0
  • Maintenance Expense: 560.0
  • Property Net Operating Income: 67633.0
  • Vacancy Allowance Rate: 0.05
  • Leasable Area: 10500.0

Tax Info

  • Tax Annual Amount: 7478.0
  • Tax Book Number: 120.00
  • Tax Lot: 1
  • Tax Map Number: 35.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jun 24, 2019
Sold by
Dechant Thomas J
Bought by
Thomas Plaza Llc
Total Days on Market
159
Current Estimated Value
$1,221,112

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,000,000
Outstanding Balance
$897,185
Interest Rate
4.1%
Mortgage Type
Commercial
Estimated Equity
$312,665

Purchase Details

Closed on
Oct 13, 2017
Sold by
Ftc 28 Llc
Bought by
Dechant Thomas J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$500,000
Interest Rate
3.82%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Jan 3, 2007
Sold by
Teberg John A
Bought by
Tepper Nancy Boxley

Purchase Details

Closed on
Mar 25, 1994
Sold by
Morguard Ltd
Bought by
Thomas Complex Llc

Range of Values:

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Average Value
Not Available
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
Thomas Plaza Llc -- Thomas Title & Escrow
Dechant Thomas J $675,000 Commonwealth Land Title Insu
Tepper Nancy Boxley $440,000 Chicago Title Insurance Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Thomas Plaza Llc $1,000,000
Previous Owner Dechant Thomas J $500,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/13/2013 11/13/13 Sold $572,000 -11.9% $53 / Sq Ft
10/02/2013 10/02/13 Pending -- -- --
04/26/2013 04/26/13 For Sale $649,000 -- $60 / 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 $7,702 $57,445 -- --
2024 $7,843 $56,419 -- --
2023 $7,843 $165,818 $32,181 $133,637
2022 $7,757 $162,961 $30,083 $132,878
2021 $8,173 $185,778 $32,760 $153,018
2020 $7,974 $132,909 $30,615 $102,294
Source: Public Records

Agents Affiliated with this Home

  • S

    Seller's Agent in 2013

    Scott Trevey

    REI Marketing

  • N

    Buyer's Agent in 2013

    Non-MLS Agent

    Non-MLS Office

See All Agents

Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 4932294

Arizona Regional Multiple Listing Service (ARMLS)

APN: 120-35-062A

Arizona Maricopa County Phoenix 85008 Camelback East Village

2425 E Thomas Rd, Phoenix, AZ

Homes for Sale in Phoenix, AZ

This home is located at 2425 E Thomas Rd, Phoenix, AZ 85016 since 07 May 2013 and is currently estimated at $1,221,112, approximately $113 per square foot. This property was built in 1955. 2425 E Thomas Rd is a home located in Maricopa County with nearby schools including Camelback High School, Phoenix Coding Academy, and Phoenix Christian School PreK - 8.

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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