NOT LISTED FOR SALE

2825 E Paradise Ln Phoenix, AZ 85032

Paradise Valley Neighborhood

Estimated Value: $423,904 - $693,000

-- Bed
-- Bath
3,618 Sq Ft
$164/Sq Ft Est. Value

Last Sold May 11, 2018

Last sale price $233,000 $64 Per Sq Ft

Est. 154% increase in value since last sale

Current estimated payment $3,254/month

9 Days on Market

Highlights

  • Clubhouse
  • Cooling Available
  • Heating Available
  • Heated Community Pool
  • Resident Manager or Management On Site
  • 5-minute walk to Palomino Park

About This Home

As of May 2018

This is an opportunity to acquire the Palomino Pointe Apartments, a 4 -unit portfolio consisting of 1, 2, and 3-bedroom, 1, 2, and 3 bath floor-plans.

Palomino Pointe Apartments is conveniently located just minutes from the 51 and 101 loop freeways, Desert Ridge shopping complex, and minutes away from the entertainment and dining venues of downtown Phoenix, AZ, which is one of the most robust employment corridors in the metro area.
Built in 1982, The Palomino Pointe Apartments, comprised of wood-frame, painted stucco finished exterior, partial tile and foam roofing. Community amenities include Manager office, Club House, and Community Pool. The property is sub -metered for electricity and gas.

Last Agent to Sell the Property

Sophia Baron

Grace CRE License #BR648866000 Listed on: 03/28/2018

Co-Listed By

Braxton McGregor

Russ Lyon Sotheby's International Realty

Last Buyer's Agent

Huajun Zhou

HomeSmart License #SA664089000

HomeSmart

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,193

Year Built

  • Built in 1982

Lot Details

  • 5,576

Home Design

  • Wood Frame Construction
  • Tile Roof
  • Foam Roof
  • Stucco

Parking

  • 4 Parking Spaces
  • 4 Covered Spaces

Schools

  • Palomino Primary Elementary School
  • Palomino Intermediate School
  • North Canyon High School

Utilities

  • Cooling Available
  • Heating Available

Listing and Financial Details

  • Tenant pays for cable TV
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 27
  • Assessor Parcel Number 214-39-055

Community Details

Overview

  • 4 Units
  • Building Dimensions are 10965
  • Greenway Manor Lot 1 72 Tr A E Subdivision

Recreation

  • Heated Community Pool

Building Details

  • Operating Expense $13,033
  • Gross Income $31,384
  • Net Operating Income $18,751

Additional Features

  • Clubhouse
  • Resident Manager or Management On Site

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,193

Year Built

Built in 1982

Lot Details

0

Listing Details

  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: PAD-13
  • Number Of Buildings: 1
  • Year Built: 1982
  • Tax Year: 2017
  • Road Surface Type: Asphalt
  • Co List Office Mls Id: lyon19
  • Co List Office Phone: 480-287-5200
  • Subdivision Name: GREENWAY MANOR LOT 1-72 TR A-E
  • 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: None
  • Construction Type: Painted, Stucco, Frame - Wood
  • Roof: See Remarks, Tile, Foam
  • Construction:Frame - Wood: Yes

Garage/Parking

  • Total Covered Spaces: 4.0
  • Total Parking Spaces: 4.0
  • General Property Description:Covered Parking Spcs: 4.0
  • General Property Description:Total Parking Spcs: 4.0
  • Parking:Assigned: Yes
  • Parking:_one_ SpaceUnit: Yes

Utilities

  • Electric: APS
  • Cooling: Electric
  • Heating: Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes

Condo/Co-op/Association

  • Community Features: Clubhouse, Manager Res/Office, Pool

Association/Amenities

  • Community Amenities:Pool2: Yes
  • Community Amenities:Manager ResOffice: Yes
  • Community Amenities:Clubhouse: Yes

Schools

  • Elementary School: Palomino Primary School
  • High School: North Canyon High School
  • Middle Or Junior School: Palomino Intermediate School

Lot Info

  • Lot Size: 10965
  • Additional Parcels: No
  • Parcel #: 214-39-055

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Cable TV
  • Number Of Units Total: 4
  • Annual Gross Income: 31384.2
  • Insurance Expense: 1145.0
  • Maintenance Expense: 1362.0
  • Property Net Operating Income: 18751.0
  • Annual Operating Expense: 13033.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 1193.0
  • Tax Book Number: 214.00
  • Tax Lot: 27

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 28, 2018
Closed on
Apr 10, 2018
Sold by
Murray Aldrin T
Bought by
Zhu Yuntao and Zhou Huajun
Seller's Agent
Sophia Baron
Grace CRE
Buyer's Agent
Huajun Zhou
HomeSmart
List Price
$239,900
Sold Price
$233,000
Premium/Discount to List
-$6,900
-2.88%
Total Days on Market
9
Current Estimated Value
$591,726

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$358,726
Avg. Annual Appreciation
14.10%
Original Mortgage
$174,750
Interest Rate
4.4%
Mortgage Type
New Conventional

Purchase Details

Listed on
Aug 21, 2015
Closed on
Dec 8, 2015
Sold by
2825 Paradise Llc
Bought by
Murray Aldrin T
Seller's Agent
Larry Wright
DeLex Realty
Buyer's Agent
Larry Wright
DeLex Realty
List Price
$185,000
Sold Price
$180,000
Premium/Discount to List
-$5,000
-2.7%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
11.25%
Original Mortgage
$176,739
Interest Rate
4.4%
Mortgage Type
FHA

Purchase Details

Closed on
Apr 1, 2015
Sold by
Book Lyle and Book Barbara
Bought by
2825 Paradise Llc

Purchase Details

Closed on
Sep 3, 2014
Sold by
2825 Paradise Llc
Bought by
Book Lyle and Book Barbara

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$105,021
Interest Rate
4.07%
Mortgage Type
New Conventional

Purchase Details

Listed on
Feb 21, 2014
Closed on
Apr 16, 2014
Sold by
Book Lyle and Book Barbara
Bought by
2825 Paradise Llc
Seller's Agent
Lloyd Kaipainen
Better Homes & Gardens Real Estate SJ Fowler
Buyer's Agent
Larry Wright
DeLex Realty
List Price
$159,000
Sold Price
$151,500
Premium/Discount to List
-$7,500
-4.72%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
13.04%
Original Mortgage
$112,850
Interest Rate
4.23%
Mortgage Type
New Conventional

Purchase Details

Listed on
Feb 21, 2014
Closed on
Mar 27, 2014
Sold by
Khromov Sergey and Khromova Anna
Bought by
Book Lyle and Book Barbara
Seller's Agent
Lloyd Kaipainen
Better Homes & Gardens Real Estate SJ Fowler
Buyer's Agent
Larry Wright
DeLex Realty
List Price
$159,000
Sold Price
$151,500
Premium/Discount to List
-$7,500
-4.72%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$112,850
Interest Rate
4.23%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 21, 2011
Sold by
Khromov Sergey
Bought by
Khromov Sergey and Khromova Anna

Purchase Details

Closed on
Feb 8, 2011
Sold by
Le Valley Harvey Jean and Le Valley Susanna Elaine
Bought by
Khromov Sergey

Purchase Details

Closed on
Dec 9, 2005
Sold by
Bliven Investments Llc
Bought by
Le Valley Harvey Jean and Le Valley Susanna Elaine

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
6.62%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Aug 25, 2005
Sold by
Paradise Urban Investments Llc
Bought by
Bliven Investments

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$13,125,000
Interest Rate
5.64%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 7, 2004
Sold by
Paradise Club Llc
Bought by
Paradise Urban 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
$11,257,450
Interest Rate
6.06%
Mortgage Type
Commercial
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
Zhu Yuntao $239,900 Chicago Title Agency Inc
Murray Aldrin T $180,000 Chicago Title Agency
2825 Paradise Llc -- Chicago Title Agency Inc
2825 Paradise Llc -- Pioneer Title Agency Inc
Book Lyle -- Pioneer Title Agency Inc
2825 Paradise Llc -- Chicago Title Agency Inc
Book Lyle $150,530 Chicago Title Agency Inc
Khromov Sergey -- None Available
Khromov Sergey $90,000 Chicago Title
Le Valley Harvey Jean $380,000 Tsa Title Agency
Bliven Investments $17,300,000 --
Paradise Urban Investments Llc $12,100,000 Fidelity National Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Zhu Yuntao $165,000
Closed Zhu Yuntao $174,750
Previous Owner Murray Aldrin T $176,739
Previous Owner Book Lyle $105,021
Previous Owner Book Lyle $112,850
Previous Owner Le Valley Harvey Jean $304,000
Previous Owner Bliven Investments $13,125,000
Previous Owner Paradise Urban Investments Llc $11,257,450
Closed Le Valley Harvey Jean $37,950
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/11/2018 05/11/18 Sold $233,000 -2.9% $64 / Sq Ft
05/01/2018 05/01/18 For Sale $239,900 0.0% $66 / Sq Ft
03/26/2018 03/26/18 For Sale $239,900 +33.3% $66 / Sq Ft
12/09/2015 12/09/15 Sold $180,000 -2.7% $50 / Sq Ft
10/04/2015 10/04/15 Pending -- -- --
08/19/2015 08/19/15 For Sale $185,000 +22.1% $51 / Sq Ft
04/22/2014 04/22/14 Sold $151,500 -4.7% $42 / Sq Ft
03/01/2014 03/01/14 Pending -- -- --
02/20/2014 02/20/14 For Sale $159,000 -- $44 / 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 $1,364 $13,700 -- --
2024 $1,335 $13,047 -- --
2023 $1,335 $38,780 $7,750 $31,030
2022 $1,322 $26,660 $5,330 $21,330
2021 $1,326 $22,800 $4,560 $18,240
2020 $1,285 $20,150 $4,030 $16,120
2019 $1,286 $17,850 $3,570 $14,280
2018 $1,244 $15,680 $3,130 $12,550
2017 $1,193 $14,820 $2,960 $11,860
2016 $1,173 $13,230 $2,640 $10,590
2015 $1,086 $12,450 $2,490 $9,960
Source: Public Records

Agents Affiliated with this Home

  • Sophia Baron

    Seller's Agent in 2018

    Sophia Baron

    Grace CRE

    (480) 375-0227

    1 in this area

    92 Total Sales

    Sophia Baron
    Section Image

  • B

    Seller Co-Listing Agent in 2018

    Braxton McGregor

    Russ Lyon Sotheby's International Realty

  • H

    Buyer's Agent in 2018

    Huajun Zhou

    HomeSmart

    (480) 414-9438

    26 Total Sales

    Section Image
  • Larry Wright

    Seller's Agent in 2015

    Larry Wright

    DeLex Realty

    (602) 264-8400

    Larry Wright
    Section Image

  • L

    Seller Co-Listing Agent in 2015

    Lois Kaipainen

    Income Property Shop

    Section Image

  • L

    Buyer's Agent in 2015

    Lawrence Wright

    Better Homes & Gardens Real Estate SJ Fowler

See All Agents

Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5743212

Arizona Regional Multiple Listing Service (ARMLS)

APN: 214-39-055

Arizona Maricopa County Phoenix 85032 Paradise Valley

2825 E Paradise Ln, Phoenix, AZ

This home is located at 2825 E Paradise Ln, Phoenix, AZ 85032 since 28 March 2018 and is currently estimated at $591,726, approximately $163 per square foot. This property was built in 1982. 2825 E Paradise Ln is a home located in Maricopa County with nearby schools including Palomino Primary School, Palomino Intermediate School, and Greenway Middle 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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