$2,650,000
SOLD NOV 17, 2017
-- Bed
-- Bath
1,250 Sq Ft
1981 Built

Recently Sold

$2,120 Per Sq Ft

12% Below List Price

181 Days on Market

Highlights

  • Cooling Available
  • Concrete Flooring
  • Heating Available
  • Phoenix Coding Academy Rated A

About This Home

As of July 2023

The Avanti is a 30 unit apartment community located in a highly desired region of East Phoenix. Located on
the Southwest end of Arcadia. Surrounded by new developments. Well built, functional & well maintained. Every unit is individually metered. NO chiller system, providing landlord with a very reasonable electric bill. 70% of the units have newer HVAC systems. Building is made of block construction w/stucco & paint finishes. Built w/concrete flooring between the two levels providing less maintenance, no creaking floors, and better sound barrier. Constructed in 1981 means no lead base paint or asbestos. Roof is in good condition & all plumbing is copper. Units have garbage disposals, dishwashers, & stoves. Rents are under market with value add opportunity. The roof is in good condition and all plumbing is copper. Every unit has a garbage disposal, dishwasher, as well as a stove, and the top floor units have vaulted ceilings. Rents are under market with great upside potential.

Last Agent to Sell the Property

Don Mortensen

LRA Real Estate Group, LLC License #BR529840000 Listed on: 04/19/2017

Last Buyer's Agent

Staci Smedstad

DeLex Realty License #BR534053000

DeLex Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $12,130

Year Built

  • Built in 1981

Home Design

  • Foam Roof
  • Block Exterior

Flooring

  • Concrete Flooring

Parking

  • 40 Open Parking Spaces
  • 40 Parking Spaces

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 9
  • Assessor Parcel Number 127-22-011-A

Community Details

Overview

  • 3 Buildings
  • 30 Units
  • Building Dimensions are IRR
  • Citrus Acres Lots 21 60 Subdivision

Building Details

  • Operating Expense $12,130

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$12,130

Year Built

Built in 1981

Lot Details

0

Listing Details

  • Cross Street: 36th Street and Osborn
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: M-H
  • Number Of Buildings: 3
  • Year Built: 1981
  • Tax Year: 2016
  • Directions: South on Osborn to property on the east side of the road.
  • Road Surface Type: Asphalt
  • Subdivision Name: CITRUS ACRES LOTS 21-60
  • Tax Parcel Letter: A
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Concrete
  • Appliances Included:BI OvenRange: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Painted, Block
  • Roof: Foam
  • Construction:Block: Yes

Garage/Parking

  • Open Parking Spaces: 40.0
  • Total Parking Spaces: 40.0
  • General Property Description:Uncvrd Parking Spcs: 40.0
  • General Property Description:Total Parking Spcs: 40.0
  • Parking:_one_ SpaceUnit: Yes

Utilities

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

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Desert Landscaping: Yes

Lot Info

  • Lot Size: IRR
  • Additional Parcels: No
  • Parcel #: 127-22-011-A

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Cable TV
  • Number Of Units Total: 30
  • Annual Operating Expense: 12130.0

Tax Info

  • Tax Annual Amount: 12130.0
  • Tax Book Number: 127.00
  • Tax Lot: 9

Range of Values:

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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/03/2023 07/03/23 Sold $4,800,000 -12.7% $3,840 / Sq Ft
05/29/2023 05/29/23 Price Changed $5,500,000 0.0% $4,400 / Sq Ft
03/28/2023 03/28/23 Pending -- -- --
03/28/2023 03/28/23 For Sale $5,500,000 0.0% $4,400 / Sq Ft
03/27/2023 03/27/23 Pending -- -- --
03/20/2023 03/20/23 For Sale $5,500,000 +107.5% $4,400 / Sq Ft
11/17/2017 11/17/17 Sold $2,650,000 0.0% $2,120 / Sq Ft
11/08/2017 11/08/17 Off Market $2,650,000 -- --
10/16/2017 10/16/17 Pending -- -- --
09/20/2017 09/20/17 Price Changed $2,595,000 -5.6% $2,076 / Sq Ft
09/10/2017 09/10/17 Price Changed $2,750,000 -3.5% $2,200 / Sq Ft
06/26/2017 06/26/17 Price Changed $2,849,700 -4.9% $2,280 / Sq Ft
04/18/2017 04/18/17 For Sale $2,997,000 -- $2,398 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5592467

Arizona Regional Multiple Listing Service (ARMLS)