NOT LISTED FOR SALE

2430 W Morten Ave Phoenix, AZ 85021

Alhambra Neighborhood

Estimated Value: $409,607

-- Bed
1 Bath
912 Sq Ft
$449/Sq Ft Est. Value

Last Sold August 11, 2021

Last sale price $405,000 $444 Per Sq Ft

Est. 1% increase in value since last sale

Current estimated payment $2,244/month

24 Days on Market

Highlights

  • Cooling Available
  • Ceramic Tile Flooring
  • Heating Available
  • Washington High School Rated A-

About This Home

As of August 2021

2430 W Morten Avenue is a garden style property consisting of (2) standalone single family homes on (1) large parcel. Both homes are 2 bedrooms / 1 bathroom, including washer/dryer hookups. Being situated on a +/-17,000 SF lot, tenants are sure to enjoy the ample private space and mature landscaping. The property offers a straightforward value add opportunity, with one unit being renovated and the other ready for rehab. Both tenants are on month-to-month leases, with room to increase rents to market levels. This property allows quick access to the I-17 and is minutes from Downtown Phoenix.

Last Agent to Sell the Property

Carson Griesemer

ABI Multifamily License #SA686764000 Listed on: 06/26/2021

Co-Listed By

Mitchell Drake

ABI Multifamily License #SA675761000

Last Buyer's Agent

Carson Griesemer

ABI Multifamily License #SA686764000 Listed on: 06/26/2021

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,081

Year Built

  • Built in 1949

Lot Details

  • 0.4

Home Design

  • Wood Frame Construction
  • Composition Roof

Flooring

  • Ceramic Tile Flooring

Parking

  • 6 Open Parking Spaces
  • 6 Parking Spaces

Utilities

  • Cooling Available
  • Heating Available
  • Master Water Meter

Listing and Financial Details

  • Tenant pays for gas, electricity, cable TV
  • The owner pays for trash collection, water, sewer
  • Tax Lot 100
  • Assessor Parcel Number 157-27-025

Community Details

Overview

  • 2 Buildings
  • 2 Units
  • Building Dimensions are 97 ft x 181 ft
  • Vista Income Estates Unit 3 Subdivision

Building Details

  • Operating Expense $1,081
  • Gross Income $31,133
  • Net Operating Income $23,783

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,081

Year Built

Built in 1949

Lot Details

0

Listing Details

  • Legal Info Range: 2E
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 2
  • Ownership: Fee Simple
  • Year Built: 1949
  • Tax Year: 2020
  • Road Surface Type: Asphalt
  • Co List Office Mls Id: abim01
  • Co List Office Phone: 602-714-1400
  • Subdivision Name: VISTA INCOME ESTATES UNIT 3
  • Water Irrigation: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Ceramic Tile
  • Appliances Included:WD Hookup: Yes
  • Appliances Included:BI OvenRange: Yes
  • Appliances Included:Other (See Remarks)56: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

  • Disclosures: Other (See Remarks), None
  • Construction Type: Painted, Frame - Wood
  • Roof: Composition
  • Construction:Frame - Wood: Yes

Garage/Parking

  • Parking Features: Other (See Remarks), >1 Space Per Unit
  • Attached Garage: No
  • Open Parking Spaces: 6.0
  • Total Parking Spaces: 6.0
  • General Property Description:Uncvrd Parking Spcs: 6.0
  • General Property Description:Total Parking Spcs: 6.0
  • Parking:_greater_1 Space Per Unit: Yes
  • Parking:Other (See Remarks)24: Yes

Utilities

  • Electric: Other (See Remarks), SRP, Individual Meter
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Irrigation, Master Meter
  • Heating:Individual: Yes
  • Heating:Heat Pump2: Yes
  • Main Cooling Other: Yes

Condo/Co-op/Association

  • Community Features: See Remarks, No Pool

Association/Amenities

  • Exterior Amenities:Green Landscaping: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Partially Fenced: Yes
  • Interior Amenities:Unfurnished: Yes
  • Interior Amenities:Other (See Remarks)51: Yes
  • Exterior Amenities:Other (See Remarks)58: Yes

Schools

  • Junior High Dist: Glendale Union High School District

Lot Info

  • Lot Size: 97 ft x 181 ft
  • Additional Parcels: No
  • Parcel #: 157-27-025

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Tenant Pays: See Remarks, Gas, Electricity, Cable TV
  • Number Of Units Total: 2
  • Annual Gross Income: 31132.8
  • Property Net Operating Income: 23783.0
  • Annual Operating Expense: 1081.0
  • Vacancy Allowance Rate: 0.06

Tax Info

  • Tax Annual Amount: 1081.0
  • Tax Book Number: 157.00
  • Tax Lot: 100

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Nov 19, 2021
Sold by
Gerhartz Andrew
Bought by
Mortem Home Rentals Llc
Current Estimated Value
$409,607

Purchase Details

Listed on
Jun 26, 2021
Closed on
Aug 11, 2021
Sold by
Gerhartz Andrea and Gerhartz Andrew
Bought by
Gerhartz Andrew
Seller's Agent
Carson Griesemer
ABI Multifamily
Buyer's Agent
Carson Griesemer
ABI Multifamily
List Price
$390,000
Sold Price
$405,000
Premium/Discount to List
$15,000
3.85%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
0.27%
Original Mortgage
$300,000
Interest Rate
2.9%

Purchase Details

Listed on
Jun 26, 2021
Closed on
Aug 10, 2021
Sold by
Gold Khai
Bought by
Gerhartz Andrew
Seller's Agent
Carson Griesemer
ABI Multifamily
Buyer's Agent
Carson Griesemer
ABI Multifamily
List Price
$390,000
Sold Price
$405,000
Premium/Discount to List
$15,000
3.85%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Interest Rate
2.9%

Purchase Details

Listed on
Sep 15, 2020
Closed on
Oct 14, 2020
Sold by
Morten Avenue Holdings Llc
Bought by
Gold Khai
Seller's Agent
Andy Adeli
Realty ONE Group
Buyer's Agent
Andy Adeli
Realty ONE Group
List Price
$275,000
Sold Price
$340,000
Premium/Discount to List
$65,000
23.64%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
23.78%

Purchase Details

Closed on
Oct 2, 2018
Sold by
Charara Ghassan
Bought by
Morten Avenue Holdings Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$131,250
Interest Rate
4.5%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 30, 2018
Sold by
Charara Sheila and Charara Ghassan
Bought by
Charara Ghassan

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$131,250
Interest Rate
4.5%
Mortgage Type
New Conventional
Source: Public Records

Range of Values:

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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
Mortem Home Rentals Llc -- None Available
Gerhartz Andrew -- Pioneer Title Agency Inc
Gerhartz Andrew $405,000 Pioneer Title Agency Inc
Gold Khai $340,000 Pioneer Title Agency Inc
Morten Avenue Holdings Llc -- Accommodation
Charara Ghassan -- Chicago Title Agency Inc
Charara Ghassan $175,000 Chicago Title Agency Inc
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Gerhartz Andrew $300,000
Previous Owner Gerhartz Andrew $400,000
Previous Owner Charara Ghassan $131,250
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
08/11/2021 08/11/21 Sold $405,000 +3.8% $444 / Sq Ft
06/22/2021 06/22/21 For Sale $390,000 +14.7% $428 / Sq Ft
10/16/2020 10/16/20 Sold $340,000 +23.6% $373 / Sq Ft View Prior Sale
10/02/2020 10/02/20 Pending -- -- --
09/14/2020 09/14/20 For Sale $275,000 -- $302 / 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 $1,197 $9,419 -- --
2024 $1,131 $8,971 -- --
2023 $1,131 $21,230 $4,240 $16,990
2022 $1,094 $16,570 $3,310 $13,260
2021 $1,108 $15,780 $3,150 $12,630
2020 $1,081 $13,420 $2,680 $10,740
2019 $1,061 $11,260 $2,250 $9,010
2018 $1,033 $9,170 $1,830 $7,340
2017 $448 $6,260 $1,250 $5,010
2016 $439 $5,280 $1,050 $4,230
2015 $407 $3,930 $780 $3,150
Source: Public Records

Agents Affiliated with this Home

  • Carson Griesemer

    Seller's Agent in 2021

    Carson Griesemer

    ABI Multifamily

    (602) 714-1400

    3 in this area

    23 Total Sales

    Carson Griesemer
    Section Image
  • Mitchell Drake

    Seller Co-Listing Agent in 2021

    Mitchell Drake

    ABI Multifamily

    (602) 714-1400

    2 in this area

    25 Total Sales

    Mitchell Drake
    Section Image
  • Brian Gaffney

    Buyer Co-Listing Agent in 2021

    Brian Gaffney

    Better Homes & Gardens Real Estate SJ Fowler

    (602) 264-8400

    2 in this area

    22 Total Sales

    Brian Gaffney
    Section Image

  • A

    Seller's Agent in 2020

    Andy Adeli

    Realty One Group

    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6256309

Arizona Regional Multiple Listing Service (ARMLS)

APN: 157-27-025

Arizona Maricopa County Phoenix 85021 Alhambra

2430 W Morten Ave, Phoenix, AZ

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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