NOT LISTED FOR SALE

2550 N 53rd St Phoenix, AZ 85008

Camelback East Village Neighborhood

Estimated Value: $1,187,000 - $2,148,879

-- Bed
10 Baths
1,522 Sq Ft
$991/Sq Ft Est. Value

Last Sold February 18, 2016

Last sale price $845,000 $555 Per Sq Ft

Est. 79% increase in value since last sale

Current estimated payment $8,293/month

75 Days on Market

Highlights

  • Cooling Available
  • Phoenix Coding Academy Rated A
  • Heat Pump System

About This Home

As of February 2016

Beautiful property located in the South Arcadia Area.
Don't miss this opportunity to purchase a rehabbed property consisting of spacious two and one bedroom/one bath units. The rehab consists of new A/C units, new landscaping, ceramic tile flooring, new appliances, painted exterior/interior, upgraded bathroom, etc. In addition, this building generates a good rate of return. It is located in a very nice residential area with lush green landscaping throughout the neighborhood. You simply cannot find this kind of commercial, multi-family deal in the current Phoenix market.
The 10th unit is an upgraded utility room that is being used as a unpremitted rental unit that includes utilities.

Last Agent to Sell the Property

Terry Kass

Coldwell Banker Commercial Realty License #BR503783000 Listed on: 09/21/2015

Coldwell Banker Commercial Realty

Co-Listed By

Mark Skelpsa

HomeSmart Realty License #SA642313000

Last Buyer's Agent

DeAnna Nelson

The Property Boutique License #BR582947000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,038

Year Built

  • Built in 1957

Lot Details

  • 0.59

Home Design

  • Composition Roof
  • Block Exterior

Parking

  • 12 Open Parking Spaces
  • 12 Parking Spaces

Utilities

  • Cooling Available
  • Heat Pump System

Listing and Financial Details

  • The owner pays for trash collection, water, sewer
  • Tax Lot 49
  • Assessor Parcel Number 126-22-023-H

Community Details

Overview

  • 3 Buildings
  • 10 Units
  • Building Dimensions are irregular
  • Frances Park Lot 14, 39, 50 Subdivision

Building Details

  • Operating Expense $27,538
  • Gross Income $76,636
  • Net Operating Income $49,158

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,038

Year Built

Built in 1957

Lot Details

0

Listing Details

  • Cross Street: Thomas Rd & 52nd St
  • Legal Info Range: 4E
  • Property Type: Multiple Dwellings
  • Zoning: R-10
  • Number Of Buildings: 3
  • Year Built: 1957
  • Tax Year: 2014
  • Directions: South on 52nd St. East on Virginia Ave. South on 53rd St to property.
  • Road Surface Type: Asphalt
  • Professional Management Expense: 5000.0
  • Co List Office Mls Id: gpci01
  • Co List Office Phone: 602-703-5277
  • Subdivision Name: FRANCES PARK LOT 14, 39, 50
  • Tax Parcel Letter: H
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances Included:Refrigerator: Yes
  • Appliances Included:WasherDryer: Yes
  • Appliances Included:BI OvenRange: Yes

Exterior Features

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

Garage/Parking

  • Open Parking Spaces: 12.0
  • Total Parking Spaces: 12.0
  • General Property Description:Uncvrd Parking Spcs: 12.0
  • General Property Description:Total Parking Spcs: 12.0
  • Parking:_greater_1 Space Per Unit: Yes

Utilities

  • Electric: SRP
  • Cooling: Electric
  • Heating: Heat Pump
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Heat Pump2: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Community Amenities:No Pool: Yes

Fee Information

  • Trash Expense: 1200.0
  • Annual Water Sewer Expense: 3600.0

Lot Info

  • Lot Size: irregular
  • Additional Parcels: No
  • Parcel #: 126-22-023-H

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Number Of Units Total: 10
  • Electric Expense: 1200.0
  • Annual Gross Income: 76636.0
  • Insurance Expense: 3000.0
  • Maintenance Expense: 5000.0
  • Property Net Operating Income: 49158.0
  • Annual Operating Expense: 27538.0
  • Vacancy Allowance Rate: 0.08

Tax Info

  • Tax Annual Amount: 4038.0
  • Tax Book Number: 126.00
  • Tax Lot: 49

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 21, 2015
Closed on
Feb 15, 2016
Sold by
Perfect Storm Real Estate Investments Ll
Bought by
Currey Jeffrey and Currey Gwendolyn
Seller's Agent
Terry Kass
Coldwell Banker Commercial Realty
Buyer's Agent
DeAnna Nelson
The Property Boutique
List Price
$899,000
Sold Price
$845,000
Premium/Discount to List
-$54,000
-6.01%
Current Estimated Value
$1,508,470

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$663,470
Avg. Annual Appreciation
6.22%
Original Mortgage
$585,000
Outstanding Balance
$42,445
Interest Rate
4.85%
Mortgage Type
Commercial
Estimated Equity
$1,466,025

Purchase Details

Closed on
Jun 12, 2013
Sold by
Joaquim Gena and Stewart Chablis
Bought by
Perfect Storm Real Estate Investments Ll and Curtis Michael Appraisal Inc Profit Shar

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$280,000
Interest Rate
3.38%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
May 20, 2013
Sold by
Joaquim Gena
Bought by
Joaquim Gena and Stewart Chablis M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$280,000
Interest Rate
3.38%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
May 17, 2013
Sold by
Joaquim Gena
Bought by
Joaquim Gena

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$280,000
Interest Rate
3.38%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
May 16, 2013
Sold by
Reo Properties Corp
Bought by
Joaquim Gena

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$280,000
Interest Rate
3.38%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jul 26, 2012
Sold by
Wells Fargo Bank Na
Bought by
Reo Properties Corp

Purchase Details

Closed on
Jul 25, 2012
Sold by
Bank Of America
Bought by
Reo Properties Corp

Purchase Details

Closed on
Jul 17, 2012
Sold by
Federal National Mortgage Association
Bought by
Wells Fargo Bank Na

Purchase Details

Closed on
Jun 21, 2012
Sold by
Wells Fargo Bank Na
Bought by
Reo Properties Corp

Purchase Details

Closed on
May 1, 2012
Sold by
Federal National Mortgage Association
Bought by
Wells Fargo Bank Na

Purchase Details

Closed on
Dec 22, 2008
Sold by
Nienaber Bernard and Chagnou Mariette
Bought by
Burkchardt John B and Joaquim Gena

Purchase Details

Closed on
Oct 16, 2008
Sold by
Nichtean Doina
Bought by
Federal National Mortgage Association

Purchase Details

Closed on
Sep 23, 2008
Sold by
Nichitean Doina
Bought by
Federal National Mortgage Association

Purchase Details

Closed on
Sep 2, 2008
Sold by
Nichitean Doina
Bought by
Federal National Mortgage Association

Purchase Details

Closed on
Aug 6, 2008
Sold by
Nichitean Doina
Bought by
Federal National Mortgage Association

Purchase Details

Closed on
Sep 15, 2006
Sold by
Nichitean Doina
Bought by
Nichitean Doina

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$304,000
Interest Rate
7.62%
Mortgage Type
Stand Alone Refi Refinance Of Original Loan

Purchase Details

Closed on
Aug 8, 2006
Sold by
Nichitean Doina
Bought by
Nichitean Doina

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$304,000
Interest Rate
7.62%
Mortgage Type
Stand Alone Refi Refinance Of Original Loan

Purchase Details

Closed on
Jul 28, 2006
Sold by
Nichitean Doina
Bought by
Nichitean Doina

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$304,000
Interest Rate
7.62%
Mortgage Type
Stand Alone Refi Refinance Of Original Loan

Purchase Details

Closed on
Jun 30, 2006
Sold by
Ilioi Constantin
Bought by
Nichitean Doina

Purchase Details

Closed on
Mar 24, 2006
Sold by
Ilioi Geanina
Bought by
Ilioi Constantin

Purchase Details

Closed on
Apr 29, 2005
Sold by
Nienaber Bernard and Chagnon Mariette
Bought by
Nichitean Doina

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$50,000
Interest Rate
5.99%
Mortgage Type
Assumption

Purchase Details

Closed on
Mar 29, 1999
Sold by
Zivanov Ivanka
Bought by
Nienaber Bernard and Chagnon Mariette

Purchase Details

Closed on
Jun 23, 1994
Sold by
Langmade Robert H and Langmade Beatrice R
Bought by
Zivanov Slavomir and Zivanov Ivanka

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$128,000
Interest Rate
8.83%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
May 26, 1994
Sold by
Investors Security Management Inc
Bought by
Langmade Robert H and Langmade Beatrice R

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$128,000
Interest Rate
8.83%
Mortgage Type
Seller Take Back
Source: Public Records

Range of Values:

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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
Currey Jeffrey $845,000 American Title Svc Agency Ll
Perfect Storm Real Estate Investments Ll $402,755 American Title Service Agenc
Joaquim Gena -- None Available
Joaquim Gena -- First American Title Ins Co
Joaquim Gena -- First American Title Ins Co
Joaquim Gena $104,000 First American Title Insuran
Reo Properties Corp -- None Available
Reo Properties Corp -- None Available
Reo Properties Corp -- None Available
Reo Properties Corp -- None Available
Reo Properties Corp -- None Available
Wells Fargo Bank Na -- None Available
Wells Fargo Bank Na -- None Available
Reo Properties Corp -- None Available
Wells Fargo Bank Na -- First American Mortgage Serv
Burkchardt John B $200,000 Great American Title Agency
Federal National Mortgage Association $335,319 First American Title
Federal National Mortgage Association $286,776 Great American Title Agency
Federal National Mortgage Association $289,138 First American Title
Federal National Mortgage Association $285,869 Great American Title Agency
Federal National Mortgage Association $319,488 Great American Title Agency
Nichitean Doina -- Transnation Title Ins Co
Nichitean Doina -- Transnation Title Ins Co
Nichitean Doina -- Transnation Title Ins Co
Nichitean Doina -- None Available
Nichitean Doina -- Great American Title Agency
Nichitean Doina -- Great American Title Agency
Ilioi Constantin -- Great American Title Agency
Ilioi Constantin -- Great American Title Agency
Nichitean Doina $425,000 Great American Title Agency
Nienaber Bernard $265,000 Ati Title Agency
Zivanov Slavomir $163,000 First American Title
Langmade Robert H -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Currey Jeffrey $585,000
Previous Owner Perfect Storm Real Estate Investments Ll $280,000
Previous Owner Nichitean Doina $304,000
Previous Owner Nichitean Doina $50,000
Previous Owner Zivanov Slavomir $128,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/18/2016 02/18/16 Sold $845,000 -6.0% $555 / Sq Ft
12/02/2015 12/02/15 Pending -- -- --
09/18/2015 09/18/15 For Sale $899,000 -- $591 / 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 $3,543 $29,502 -- --
2024 $3,509 $28,097 -- --
2023 $3,509 $96,910 $19,380 $77,530
2022 $3,383 $74,950 $14,990 $59,960
2021 $3,440 $68,500 $13,700 $54,800
2020 $3,376 $60,570 $12,110 $48,460
2019 $3,363 $51,560 $10,310 $41,250
2018 $3,168 $42,230 $8,440 $33,790
2017 $3,035 $35,330 $7,060 $28,270
2016 $2,969 $30,700 $6,140 $24,560
2015 $2,787 $23,220 $4,640 $18,580
Source: Public Records

Agents Affiliated with this Home

  • Terry Kass

    Seller's Agent in 2016

    Terry Kass

    Coldwell Banker Commercial Realty

    (602) 330-2525

    7 in this area

    23 Total Sales

    Terry Kass
    Section Image

  • M

    Seller Co-Listing Agent in 2016

    Mark Skelpsa

    HomeSmart Realty

    Section Image
  • DeAnna Nelson

    Buyer's Agent in 2016

    DeAnna Nelson

    The Property Boutique

    (602) 793-2923

    2 in this area

    41 Total Sales

    DeAnna Nelson
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5337355

Arizona Regional Multiple Listing Service (ARMLS)

APN: 126-22-023H

Arizona Maricopa County Phoenix 85008 Camelback East Village

2550 N 53rd St, Phoenix, AZ

This home is located at 2550 N 53rd St, Phoenix, AZ 85008 since 21 September 2015 and is currently estimated at $1,508,470, approximately $991 per square foot. This property was built in 1957. 2550 N 53rd St is a home located in Maricopa County with nearby schools including Griffith Elementary School, Camelback High School, and Phoenix Coding Academy.

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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