NOT LISTED FOR SALE

2540 E Indian School Rd Phoenix, AZ 85016

Camelback East Village Neighborhood

Estimated Value: $566,000 - $580,750

-- Bed
2 Baths
1,635 Sq Ft
$350/Sq Ft Est. Value

Last Sold September 06, 2023

Last sale price $499,000 $305 Per Sq Ft

Est. 15% increase in value since last sale

Current estimated payment $3,392/month

17 Days on Market

About This Home

As of September 2023

SINGLE TENANT INVESTMENT SALE | ±6.1% CAP RATE | RECENTLY SIGNED 3 YEAR RENEWAL WITH ESTABLISHED TENANT | RARE, SMALL FREESTANDING OFFICE BUILDING | FRONTAGE ON INDIAN SCHOOL ROAD | IN DESIRABLE BILTMORE/ARCADIA SUBMARKET |
HEAVILY RENOVATED IN 2014 WITH EXPOSED DUCT WORK AND HIGH-END IMPROVEMENTS | C-2 ZONING, CITY OF PHOENIX | FLEXIBLE OPEN BUILDOUT SUITABLE FOR VARIOUS USES- OFFICE,RETAIL, SHOWROOM ETC

Last Agent to Sell the Property

Jim Lieberthal

Cutler Commercial License #BR516852000 Listed on: 08/04/2023

Last Buyer's Agent

Non-MLS Agent

Non-MLS Office

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $4,644

Year Built

  • Built in 1950

Lot Details

  • 8,497 Sq Ft Lot
  • Property is zoned C-2

Home Design

  • 1,635 Sq Ft Home

Parking

  • 6 Open Parking Spaces
  • 6 Parking Spaces

Listing and Financial Details

  • Tax Lot 137
  • Assessor Parcel Number 163-06-065

Community Details

Overview

  • Hoffman Terrace 2 Subdivision

Building Details

  • Operating Expense $4,644
  • Net Operating Income $30,694

Property Details

Property Type

Other

Est. Annual Taxes

$4,644

Year Built

Built in 1950

Lot Details

0

Listing Details

  • Legal Info Range: 3E
  • Property Type: Comm/Industry Sale
  • Zoning: C-2
  • Number Of Buildings: 1
  • Year Built: 1950
  • Tax Year: 2022
  • Lot Size Acres: 0.2
  • Subdivision Name: HOFFMAN TERRACE 2
  • Structure Type: Office
  • Special Features: None
  • Property Sub Type: Other

Interior Features

  • Flooring: Other

Exterior Features

  • Fencing: Other
  • Construction Type: See Remarks
  • Roof: See Remarks
  • Construction:Other (See Remarks)23: Yes

Garage/Parking

  • Parking Features: Other (See Remarks)
  • 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:Other (See Remarks)24: Yes

Utilities

  • Electric: Other (See Remarks)
  • Cooling: Other
  • Heating: Other
  • Green Building Features: Other (See Remarks)
  • Water Source: Other
  • Heating:Other4: Yes

Association/Amenities

  • Amenities:Other (See Remarks)32: Yes

Lot Info

  • Lot Size Sq Ft: 8497.0
  • Parcel #: 163-06-065
  • ResoLotSizeUnits: SquareFeet

Multi Family

  • Property Net Operating Income: 30694.0
  • Annual Operating Expense: 4644.0
  • Leasable Area: 1635.0

Tax Info

  • Tax Annual Amount: 4644.0
  • Tax Book Number: 163.00
  • Tax Lot: 137
  • Tax Map Number: 6.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 4, 2023
Closed on
Sep 7, 2023
Sold by
2540 Property Llp
Bought by
Hoffman Terrace 2540 Llc
Seller's Agent
Jim Lieberthal
Cutler Commercial
Buyer's Agent
Non-MLS Agent
Non-MLS Office
List Price
$503,182
Sold Price
$499,000
Premium/Discount to List
-$4,182
-0.83%
Views
10
Current Estimated Value
$572,250

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$73,250
Avg. Annual Appreciation
6.16%

Purchase Details

Closed on
Jul 23, 2014
Sold by
E Paul Investments Llc
Bought by
2540 Property Llp

Purchase Details

Closed on
Dec 14, 2012
Sold by
Mohawk Iii Llc
Bought by
E Paul 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
$148,750
Interest Rate
3.27%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Apr 8, 2009
Sold by
Mohawk Llc
Bought by
Mohawk Iii Llc

Purchase Details

Closed on
Jan 26, 2004
Sold by
Cronin Michel J and Cronin Kyle H
Bought by
Mohawk Llc

Purchase Details

Closed on
Apr 12, 1995
Sold by
Strmic Victor C and Jessup Helen S
Bought by
Cronin Michael J and Cronin Kyle H

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$77,500
Interest Rate
8.32%
Mortgage Type
Seller Take Back
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Hoffman Terrace 2540 Llc $499,000 Fidelity National Title Agency
2540 Property Llp $315,000 Stewart Title & Trust Of Pho
E Paul Investments Llc $175,000 Lawyers Title Of Arizona Inc
Mohawk Iii Llc -- None Available
Mohawk Llc -- --
Cronin Michael J $100,000 Chicago Title Insurance Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner E Paul Investments Llc $148,750
Previous Owner Cronin Michael J $77,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/06/2023 09/06/23 Sold $499,000 -0.8% $305 / Sq Ft
08/22/2023 08/22/23 Pending -- -- --
08/04/2023 08/04/23 For Sale $503,182 -- $308 / 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 $4,726 $35,902 -- --
2024 $4,653 $35,261 -- --
2023 $4,653 $62,968 $46,801 $16,167
2022 $4,644 $54,776 $39,253 $15,523
2021 $4,817 $56,790 $40,374 $16,416
2020 $4,754 $38,430 $33,606 $4,824
2019 $4,650 $45,180 $32,004 $13,176
2018 $4,538 $42,030 $29,160 $12,870
2017 $2,426 $20,250 $4,050 $16,200
2016 $1,874 $16,130 $3,220 $12,910
2015 $1,745 $13,980 $2,790 $11,190
Source: Public Records

Agents Affiliated with this Home

  • Jim Lieberthal

    Seller's Agent in 2023

    Jim Lieberthal

    Cutler Commercial

    (480) 427-1002

    3 in this area

    77 Total Sales

    Jim Lieberthal
    Section Image

  • N

    Buyer's Agent in 2023

    Non-MLS Agent

    Non-MLS Office

See All Agents

Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6588225

Arizona Regional Multiple Listing Service (ARMLS)

APN: 163-06-065

Arizona Maricopa County Phoenix 85016 Camelback East Village

2540 E Indian School Rd, Phoenix, AZ

Not Listed for Sale

Other

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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