NOT LISTED FOR SALE

2502 E Paradise Ln Phoenix, AZ 85032

Paradise Valley Village Neighborhood
8 Beds
8 Baths
1,900 Sq Ft
1974 Built

Sale Details

Date Sold: November 5, 2019

Last sale price $495,000 $261 Per Sq Ft

3 Days on Market

Highlights

  • Ceramic Tile Flooring
  • Central Heating and Cooling System
  • Ceiling Fan

About This Home

As of November 2019

Great income producing 4plex with empty lot for future building potential. Check county zoning requirements for verification on building. Two of the units have been remodeled. And a couple units have new appliances.
Still upsides on rent. All units are 2 bedroom/2 baths. 3 of the 4 HVAC units have been replaced in the last 2 years.
*Drive by only, all units occupied. Units can be viewed during due diligence period.
Tenants pay electric, Landlord pays water/sewer/trash and front yard landscaping.

Last Agent to Sell the Property

Sara Medina

HomeSmart Realty License #SA566871000 Listed on: 09/23/2019

HomeSmart Realty

Last Buyer's Agent

Raiza Schwartz

Real Broker License #SA636532000

Real Broker

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,813

Year Built

  • Built in 1974

Home Design

  • Composition Roof
  • Block Exterior
  • Stucco

Flooring

  • Ceramic Tile
  • Vinyl

Parking

  • 8 Open Parking Spaces
  • 8 Parking Spaces
  • Paved Parking

Schools

  • Palomino Primary Elementary School
  • Greenway Middle School
  • North Canyon High School

Additional Features

  • Ceiling Fan
  • Central Heating and Cooling System

Listing and Financial Details

  • Tenant pays for electricity, cable TV
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot Tract A
  • Assessor Parcel Number 214-40-031-F

Community Details

Overview

  • 4 Units
  • Building Dimensions are 27,842
  • Kay Acres Subdivision

Building Details

  • Operating Expense $8,242
  • Gross Income $41,325
  • Net Operating Income $34,977

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,813

Year Built

Built in 1974

Listing Details

  • Cross Street: Cave Creek Rd and Greenway Rd
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1974
  • Tax Year: 2019
  • Road Surface Type: Asphalt, Sidewalk(s)
  • Subdivision Name: KAY ACRES
  • Tax Parcel Letter: F
  • Cooling:Ceiling Fan(s): Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Ceramic Tile, Vinyl
  • Appliances: F/S Oven/Range, W/D Hookup
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:WD Hookup: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Painted, Stucco, Block
  • Roof: Composition
  • Construction:Block: Yes

Garage/Parking

  • Parking Features: Paved Parking, >1 Space Per Unit
  • Attached Garage: No
  • Open Parking Spaces: 8.0
  • Total Parking Spaces: 8.0
  • General Property Description:Uncvrd Parking Spcs: 8.0
  • General Property Description:Total Parking Spcs: 8.0
  • Parking:_greater_1 Space Per Unit: Yes
  • Parking:Paved Parking: Yes

Utilities

  • Electric: APS
  • Cooling: Ceiling Fan(s), Electric, Central A/C
  • Heating: Central, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes
  • Heating:Central: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Interior Amenities:Mini Blinds: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Desert Landscaping: Yes

Fee Information

  • Annual Water Sewer Expense: 2760.0

Schools

  • Elementary School: Palomino Primary School
  • High School: North Canyon High School
  • Junior High Dist: Paradise Valley Unified District
  • Middle Or Junior School: Greenway Middle School

Lot Info

  • Lot Size: 27,842
  • Additional Parcels: No
  • Parcel #: 214-40-031-F

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Electricity, Cable TV
  • Number Of Units Total: 4
  • Annual Gross Income: 41325.0
  • Insurance Expense: 2004.0
  • Property Net Operating Income: 34977.0
  • Annual Operating Expense: 8242.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 1813.0
  • Tax Book Number: 214.00
  • Tax Lot: Tract A
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
11/05/2019 11/05/19 Sold $495,000 0.0% $261 / Sq Ft
09/26/2019 09/26/19 Pending -- -- --
09/23/2019 09/23/19 For Sale $495,000 +59.7% $261 / Sq Ft
11/03/2016 11/03/16 Sold $310,000 -6.1% $163 / Sq Ft View Prior Sale
08/17/2016 08/17/16 For Sale $330,000 -- $174 / 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
2021 $1,810 $42,020 $8,400 $33,620
2020 -- $37,480 $7,490 $29,990
2019 -- $29,120 $5,820 $23,300
2018 -- $27,930 $5,580 $22,350
2017 -- $22,480 $4,490 $17,990
2016 -- $27,810 $5,560 $22,250
2015 -- $24,170 $4,830 $19,340
Source: Public Records

Agents Affiliated with this Home

  • Sara Medina

    Seller's Agent in 2019

    Sara Medina

    HomeSmart Realty

    (602) 614-1844

    3 Total Sales

    Sara Medina
    Section Image

  • R

    Buyer's Agent in 2019

    Raiza Schwartz

    Real Broker

    Section Image

  • S

    Seller's Agent in 2016

    Stephen Thompson

    Seven Commercial

    (480) 317-2231

    4 Total Sales

    Stephen Thompson
    Section Image

  • G

    Seller Co-Listing Agent in 2016

    George Gibson

    Arizona Investment & Mgt, LLC

    Section Image

  • N

    Buyer's Agent in 2016

    Nick Medina

    Geneva Real Estate and Investments

    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5983191

Arizona Regional Multiple Listing Service (ARMLS)
Arizona Maricopa County Phoenix 85032 Paradise Valley Village

2502 E Paradise Ln, 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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