NOT LISTED FOR SALE

2502 W Morten Ave Phoenix, AZ 85051

Alhambra Neighborhood

Estimated Value: $331,913 - $469,000

3 Beds
1 Bath
961 Sq Ft
$392/Sq Ft Est. Value

Last Sold December 04, 2015

Last sale price $145,000 $151 Per Sq Ft

Est. 160% increase in value since last sale

Current estimated payment $2,106/month

273 Days on Market

Highlights

  • RV or Boat Parking
  • Evaporated cooling system
  • Heat Pump System
  • Washington High School Rated A-
  • Ceramic Tile Flooring

About This Home

As of December 2015

Centrally located Tri-Plex in Phoenix! Three individually electric metered properties sitting on almost a half acre parcel which produces $1780/mo. 11%+ ROI! Conveniently located near I-17, Metro Center, dining, shopping and entertainment! Parcel is allowed up to 5 buildings so you have the ability to add an additional 2 homes if you choose. Long term tenants in units 2 and 3. New tenant in unit 1 as of 9/1. Add this one to your portfolio!

Last Agent to Sell the Property

Rey Martinez

HomeSmart License #SA646070000 Listed on: 02/11/2015

Last Buyer's Agent

Tad Lindstrom

HomeSmart License #SA063443000

HomeSmart

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $728

Year Built

  • Built in 1940

Lot Details

  • 0.42

Home Design

  • Composition Roof
  • Block Exterior

Flooring

  • Carpet
  • Ceramic Tile

Parking

  • 10 Open Parking Spaces
  • 10 Parking Spaces
  • Free Parking
  • Paved Parking
  • RV or Boat Parking

Schools

  • Washington Elementary School - Phoenix
  • Royal Palm Middle School
  • Washington High School

Utilities

  • Evaporated cooling system
  • Cooling System Mounted To A Wall/Window
  • Heat Pump System
  • Master Water Meter

Listing and Financial Details

  • Tenant pays for electricity, cable TV
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 14
  • Assessor Parcel Number 157-30-014

Community Details

Overview

  • 3 Buildings
  • 3 Units
  • Building Dimensions are 18,112 Sq Ft
  • Vista Income Estates 5 Subdivision

Building Details

  • Operating Expense $5,408
  • Gross Income $21,360
  • Net Operating Income $16,680

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$728

Year Built

Built in 1940

Lot Details

0

Listing Details

  • Cross Street: I-17 and Northern
  • Legal Info Range: 2E
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 3
  • Year Built: 1940
  • Tax Year: 2014
  • Directions: Take I-17 south frontage road to Morten. Property is on the corner. Morten is approx 1/4 mile south of Northern.
  • Road Surface Type: Asphalt, Curb(s) & Gutter(s), Sidewalk(s), Alley
  • Subdivision Name: VISTA INCOME ESTATES 5
  • Water Irrigation: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Ceramic Tile
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Dishwasher: Yes
  • Appliances Included:Disposal: Yes
  • Appliances Included:WD Hookup: Yes

Exterior Features

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

Garage/Parking

  • Parking Features: Paved Parking, Free, RV/Boat Parking, >1 Space Per Unit
  • Attached Garage: No
  • Open Parking Spaces: 10.0
  • Total Parking Spaces: 10.0
  • General Property Description:Uncvrd Parking Spcs: 10.0
  • General Property Description:Total Parking Spcs: 10.0
  • Parking:Free: Yes
  • Parking:_greater_1 Space Per Unit: Yes
  • Parking:Paved Parking: Yes
  • Exterior Amenities:RVBoat Parking: Yes
  • Parking:RVBoat Parking2: Yes

Utilities

  • Electric: SRP, Individual Meter
  • Cooling: Evaporative Cooling, Wall/Window Unit(s)
  • Heating: Heat Pump, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Irrigation, Master Meter
  • Heating:Electric: Yes
  • Heating:Heat Pump2: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Landscape Wtr System: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Exterior Amenities:PatioBalcony: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Partially Fenced: Yes
  • Exterior Amenities:Separate Storage: Yes

Fee Information

  • Annual Water Sewer Expense: 3000.0

Schools

  • Elementary School: Washington Elementary School - Phoenix
  • High School: Washington High School
  • Middle Or Junior School: Royal Palm Middle School

Lot Info

  • Lot Size: 18,112 Sq Ft
  • Additional Parcels: No
  • Parcel #: 157-30-014

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Electricity, Cable TV
  • Number Of Units Total: 3
  • Annual Gross Income: 21360.0
  • Maintenance Expense: 1200.0
  • Property Net Operating Income: 16680.0
  • Annual Operating Expense: 5408.0

Tax Info

  • Tax Annual Amount: 728.0
  • Tax Book Number: 157.00
  • Tax Lot: 14

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 11, 2015
Closed on
Nov 30, 2015
Sold by
Magel Michelle and Magel Jason L
Bought by
Gonzalez Eduardo
Seller's Agent
Rey Martinez
HomeSmart
Buyer's Agent
Tad Lindstrom
HomeSmart
List Price
$185,000
Sold Price
$145,000
Premium/Discount to List
-$40,000
-21.62%
Current Estimated Value
$376,978

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$231,978
Avg. Annual Appreciation
10.16%
Original Mortgage
$122,500
Outstanding Balance
$96,356
Interest Rate
3.71%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$280,622

Purchase Details

Closed on
Dec 14, 2000
Sold by
Stephens Barbara K
Bought by
Magel Michelle and Magel Jason I

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$125,100
Interest Rate
6.89%
Mortgage Type
New Conventional
Source: Public Records

Range of Values:

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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
Gonzalez Eduardo $145,000 Great Amer Title Agency Inc
Magel Michelle $139,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Gonzalez Eduardo $122,500
Previous Owner Magel Michelle $125,100
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/04/2015 12/04/15 Sold $145,000 -21.6% $151 / Sq Ft
11/10/2015 11/10/15 Pending -- -- --
02/10/2015 02/10/15 For Sale $185,000 -- $193 / 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 $1,281 $10,477 -- --
2024 $1,258 $9,978 -- --
2023 $1,258 $27,020 $5,400 $21,620
2022 $1,217 $18,580 $3,710 $14,870
2021 $1,233 $17,180 $3,430 $13,750
2020 $1,202 $15,220 $3,040 $12,180
2019 $1,180 $12,820 $2,560 $10,260
2018 $1,149 $10,200 $2,040 $8,160
2017 $784 $8,700 $1,740 $6,960
2016 $770 $8,310 $1,660 $6,650
2015 $713 $7,860 $1,570 $6,290
Source: Public Records

Agents Affiliated with this Home

  • R

    Seller's Agent in 2015

    Rey Martinez

    HomeSmart

  • Tad Lindstrom

    Buyer's Agent in 2015

    Tad Lindstrom

    HomeSmart

    (602) 218-0153

    2 in this area

    24 Total Sales

    Tad Lindstrom
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5235201

Arizona Regional Multiple Listing Service (ARMLS)

APN: 157-30-014

Arizona Maricopa County Phoenix 85021 Alhambra

2502 W Morten Ave, Phoenix, AZ

This home is located at 2502 W Morten Ave, Phoenix, AZ 85051 since 11 February 2015 and is currently estimated at $376,978, approximately $392 per square foot. This property was built in 1940. 2502 W Morten Ave is a home located in Maricopa County with nearby schools including Washington Elementary School, Palo Verde Middle School, and Washington High School.

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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