NOT LISTED FOR SALE
3 Beds
3 Baths
1,750 Sq Ft
1.03 Acre Lot

Sale Details

Date Sold: November 18, 2016

Last sale price $1,030,000 $589 Per Sq Ft

9 Days on Market

Highlights

  • Wood Flooring
  • Heated Community Pool
  • Heating Available
  • Phoenix Coding Academy Rated A
  • Community Barbecue Grill

About This Home

As of November 2016

Excellent investment opportunity. 14 door garden style apartment property. New Roofs on all Buildings.Newer Parking Lot Asphalt & Seal Coating. Newer HVAC Units (5). Newer Pool Resurfacing and Pool Pump. Individually Metered
for Electricity and Hot Water. Well Located Community with Ease of Access to Downtown Scottsdale,
Downtown Tempe, and Downtown Phoenix

Last Agent to Sell the Property

Royce Munroe

Munroe Multifamily License #BR512795000 Listed on: 09/01/2016

Munroe Multifamily

Last Buyer's Agent

Royce Munroe

ABI Multifamily License #BR512795000

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Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,976

Year Built

  • Built in 1975

Lot Details

  • 1.03

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Block Exterior

Flooring

  • Wood
  • Concrete
  • Ceramic Tile

Parking

  • 24 Open Parking Spaces
  • 30 Parking Spaces
  • 6 Covered Spaces
  • Common or Shared Parking
  • Paved Parking
  • Assigned Parking

Utilities

  • Cooling Available
  • Heating Available
  • Separate Meters

Listing and Financial Details

  • Tenant pays for electricity
  • The owner pays for trash collection, water, sewer, pool/spa maintenance
  • Tax Lot 1
  • Assessor Parcel Number 126-22-049-B

Community Details

Overview

  • 6 Buildings
  • 14 Units
  • Building Dimensions are 120x372

Amenities

  • Community Barbecue Grill

Recreation

  • Heated Community Pool

Building Details

  • Operating Expense $49,424
  • Gross Income $123,600
  • Net Operating Income $78,134

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,976

Year Built

Built in 1975

Lot Details

1.03 Acres

Listing Details

  • Cross Street: Thomas & 52nd Street
  • Property Type: Multiple Dwellings
  • Zoning: R3
  • Number Of Buildings: 6
  • Year Built: 1975
  • Tax Year: 2016
  • Road Surface Type: Asphalt
  • Tax Parcel Letter: B
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Ceramic Tile, Wood, Concrete
  • Appliances Included:Refrigerator: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Painted, Block, Frame - Wood
  • Roof: Composition
  • Construction:Frame - Wood: Yes
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 6.0
  • Parking Features: Other (See Remarks), Paved Parking, Assigned, Common
  • Attached Garage: No
  • Open Parking Spaces: 24.0
  • Total Parking Spaces: 30.0
  • General Property Description:Covered Parking Spcs: 6.0
  • General Property Description:Uncvrd Parking Spcs: 24.0
  • General Property Description:Total Parking Spcs: 30.0
  • Parking:Carport: Yes
  • Parking:Paved Parking: Yes
  • Parking:Assigned: Yes
  • Parking:Other (See Remarks)24: Yes

Utilities

  • Electric: SRP, Individual Meter
  • Cooling: Electric
  • Heating: Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes

Condo/Co-op/Association

  • Community Features: Barbecue, Pool

Association/Amenities

  • Community Amenities:Pool2: Yes
  • Community Amenities:Barbecue: Yes

Schools

  • Junior High Dist: Phoenix Union High School District

Lot Info

  • Lot Size: 120x372
  • Additional Parcels: No
  • Parcel #: 126-22-049-B

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Pool/Spa Maintenance
  • Tenant Pays: Electricity
  • Number Of Units Total: 14
  • Annual Gross Income: 123600.0
  • Property Net Operating Income: 78134.0
  • Annual Operating Expense: 49424.0

Tax Info

  • Tax Annual Amount: 6976.0
  • Tax Book Number: 126.00
  • Tax Lot: 1

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Closed on
Oct 9, 2020
Sold by
701 Investments Llc
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,150,000
Outstanding Balance
$999,463
Interest Rate
2.9%
Mortgage Type
Credit Line Revolving

Purchase Details

Closed on
Jun 27, 2018
Sold by
Penntex Group On 52Nd Llc
Bought by
701 Investments Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$900,000
Interest Rate
4.6%
Mortgage Type
Commercial

Purchase Details

Listed on
Sep 1, 2016
Closed on
Nov 15, 2016
Sold by
Troup David C
Bought by
Penntex Group On 52Nd Llc
Seller's Agent
Royce Munroe
Munroe Multifamily
Buyer's Agent
Royce Munroe
Munroe Multifamily
List Price
$1,050,000
Sold Price
$1,030,000
Premium/Discount to List
-$20,000
-1.9%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$755,000
Interest Rate
3.52%
Mortgage Type
Commercial

Purchase Details

Listed on
Nov 17, 2012
Closed on
May 16, 2013
Sold by
Christman Holdings Llc
Bought by
2525 Apartments Lc
Seller's Agent
Kimberly Anderson
Realty ONE Group
Buyer's Agent
Matthew Goddard
Relentis Real Estate Group
List Price
$799,000
Sold Price
$764,000
Premium/Discount to List
-$35,000
-4.38%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
8.88%
Original Mortgage
$524,300
Interest Rate
4.9%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 9, 2012
Sold by
Pjs Southwest Gardens Llc
Bought by
Christman Holdings Llc

Purchase Details

Closed on
Feb 13, 2003
Sold by
Shaffer Steven S
Bought by
Pjs Southwest Gardens Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$60,000
Interest Rate
5.89%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Apr 16, 1998
Sold by
Feltman Henry V and Feltman Susan Wick
Bought by
Shaffer Steven S

Purchase Details

Closed on
May 10, 1994
Sold by
Feltman Henry V
Bought by
Feltman Henry and Feltman Susan Wick
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$1,820,000 American Title Company
701 Investments Llc $1,450,000 American Title Service Agenc
Penntex Group On 52Nd Llc $1,030,000 Clear Title Agency Of Az Llc
Troup David C -- Clear Title Agency Of Az Llc
2525 Apartments Lc $750,000 Nextitle
Christman Holdings Llc $374,759 None Available
Pjs Southwest Gardens Llc $560,000 Lawyers Title Of Arizona Inc
Shaffer Steven S $430,000 Lawyers Title Of Arizona Inc
Feltman Henry -- --
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $1,150,000
Previous Owner 701 Investments Llc $900,000
Previous Owner Penntex Group On 52Nd Llc $755,000
Previous Owner 2525 Apartments Lc $524,300
Previous Owner Pjs Southwest Gardens Llc $60,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft Prior Sale
11/18/2016 11/18/16 Sold $1,030,000 -1.9% $589 / Sq Ft
09/01/2016 09/01/16 For Sale $1,050,000 +37.4% $600 / Sq Ft
05/17/2013 05/17/13 Sold $764,000 -4.4% $437 / Sq Ft View Prior Sale
03/04/2013 03/04/13 Pending -- -- --
11/17/2012 11/17/12 For Sale $799,000 -- $457 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $8,982 $70,381
2024 $8,372 $67,029
2023 $8,372 $193,250 $38,650 $154,600
2022 $7,946 $170,600 $34,120 $136,480
2021 $8,090 $135,150 $27,030 $108,120
2020 $7,939 $96,350 $19,270 $77,080
2019 $7,911 $70,180 $14,030 $56,150
2018 $7,446 $62,900 $12,580 $50,320
2017 $7,131 $51,720 $10,340 $41,380
2016 $6,976 $64,400 $12,880 $51,520
2015 $6,550 $62,400 $12,480 $49,920
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5491592

Arizona Regional Multiple Listing Service (ARMLS)
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