NOT LISTED FOR SALE

Estimated Value: $461,000 - $1,485,877

-- Bed
7 Baths
1,498 Sq Ft
$712/Sq Ft Est. Value

Last Sold January 21, 2019

Last sale price $600,000 $401 Per Sq Ft

Est. 78% increase in value since last sale

Current estimated payment $6,115/month

8 Days on Market

Highlights

  • Cooling Available
  • Phoenix Coding Academy Rated A
  • Individual Controls for Heating

About This Home

As of January 2019

The 37th Street Apartments is a 7-unit, value-add multifamily
investment opportunity in the desirable Arcadia Lite
neighborhood. This value-add property is surrounded by
renovated multifamily, as well as a townhome development
directly across the street. This infill
location, and the surrounding neighborhood, is in high demand
with the current low supply of multifamily housing.
The 37th Street Apartments consists of (1) studio, (5) one-bed /
one-bath, and (1) two-bed / one-bath units. The property's west
units were built in 1945 and the remaining units were built in
1985. The 37th Street Apartments is a secluded property that
gives its tenants a sense of privacy. The interiors are clean and well maintained.
Please do not disturb tenants, drive-by sale only.

Last Agent to Sell the Property

Mitchell Drake

ABI Multifamily License #SA675761000 Listed on: 11/27/2018

Co-Listed By

Dallin Hammond

ABI Multifamily License #SA677560000

Last Buyer's Agent

Mitchell Drake

ABI Multifamily License #SA675761000 Listed on: 11/27/2018

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,834

Year Built

  • Built in 1985

Lot Details

  • 0.3

Home Design

  • Composition Roof
  • Block Exterior

Parking

  • 9 Open Parking Spaces
  • 9 Parking Spaces

Utilities

  • Cooling Available
  • Individual Controls for Heating

Listing and Financial Details

  • The owner pays for trash collection, water
  • Tax Lot 14
  • Assessor Parcel Number 127-22-019-A

Community Details

Overview

  • 2 Buildings
  • 7 Units
  • Building Dimensions are 12,847
  • Citrus Acres Lots 21 60 Subdivision

Building Details

  • Operating Expense $12,770
  • Gross Income $45,828

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,834

Year Built

Built in 1985

Lot Details

0

Listing Details

  • Cross Street: Thomas & 37th Street
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 2
  • Year Built: 1985
  • Tax Year: 2018
  • Road Surface Type: Asphalt, Concrete
  • Professional Management Expense: 1085.0
  • Co List Office Mls Id: abim01
  • Co List Office Phone: 602-714-1400
  • Subdivision Name: CITRUS ACRES LOTS 21-60
  • Tax Parcel Letter: A
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Other
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator: Yes
  • Appliances Included:Dishwasher: Yes
  • Appliances Included:Disposal: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Painted, Block
  • Roof: See Remarks, Composition
  • Construction:Block: Yes

Garage/Parking

  • Open Parking Spaces: 9.0
  • Total Parking Spaces: 9.0
  • General Property Description:Uncvrd Parking Spcs: 9.0
  • General Property Description:Total Parking Spcs: 9.0
  • Parking:Street Parking: Yes
  • Parking:_greater_1 Space Per Unit: Yes

Utilities

  • Electric: Other (See Remarks)
  • Cooling: Individual
  • Heating: Individual
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Heating:Individual: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:PatioBalcony: Yes
  • Community Amenities:No Pool: Yes
  • Interior Amenities:Other (See Remarks)51: Yes

Fee Information

  • Annual Water Sewer Expense: 3367.0

Lot Info

  • Lot Size: 12,847
  • Additional Parcels: No
  • Parcel #: 127-22-019-A

Multi Family

  • Owner Pays: Trash Collection, Water
  • Number Of Units Total: 7
  • Annual Gross Income: 45828.0
  • Insurance Expense: 981.0
  • Maintenance Expense: 3224.0
  • Annual Operating Expense: 12770.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 1834.0
  • Tax Book Number: 127.00
  • Tax Lot: 14

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Feb 24, 2021
Sold by
Senior Living San Diego Partners Llc
Bought by
Bd2 Capital Az Llc
Current Estimated Value
$1,065,959

Purchase Details

Closed on
Aug 27, 2020
Sold by
Cameron 4 Llc
Bought by
Tagl Investments Llc

Purchase Details

Listed on
Nov 27, 2018
Closed on
Jan 10, 2019
Sold by
United Reality Mta Llc
Bought by
Cameron 4 Llc and Senior Livng San Diego Partners Llc
Seller's Agent
Mitchell Drake
ABI Multifamily
Buyer's Agent
Mitchell Drake
ABI Multifamily
List Price
$665,000
Sold Price
$600,000
Premium/Discount to List
-$65,000
-9.77%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
9.80%
Original Mortgage
$500,000
Interest Rate
4.7%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Feb 10, 2016
Sold by
Sell Quick For Cash Llc
Bought by
United Realty Mta Llc

Purchase Details

Closed on
Aug 2, 2013
Sold by
Familia De Siete Llc
Bought by
Horse Arm Creek Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$130,000
Interest Rate
3.92%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 13, 2012
Sold by
Lili Rubin Investment Properties Llc
Bought by
Familia De Siete Llc

Purchase Details

Closed on
Nov 15, 2010
Sold by
Bankers Bank Of The West
Bought by
Rhatigan Kevin and Rhatigan Sharon

Purchase Details

Closed on
Oct 4, 2006
Sold by
Davidoff Ronald A and Davidoff Amber
Bought by
Wingersky Michael C

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$300,000
Interest Rate
6.46%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 11, 2005
Sold by
Marken Ventures Llc
Bought by
Davidoff Ronald A and Davidoff Amber

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$193,174
Interest Rate
5.63%
Mortgage Type
Commercial

Purchase Details

Closed on
Sep 1, 2005
Sold by
Brunswick W Robert and Brunswick Linda
Bought by
Marken Ventures Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$193,174
Interest Rate
5.63%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

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Average Value
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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
Bd2 Capital Az Llc $1,125,000 Fidelity Natl Ttl Agcy Inc
Tagl Investments Llc $47,250 Fidelity Natl Ttl Agcy Inc
Cameron 4 Llc $600,000 Fidelity National Title Agen
United Realty Mta Llc $283,000 American Title Svc Agency Ll
Sell Quick For Cash Llc $268,000 American Title Svc Agency Ll
Horse Arm Creek Llc $235,000 Greystone Title Agency Llc
Familia De Siete Llc -- None Available
Lili Rubin Investment Properties Llc $150,000 American Title Service Agenc
Rhatigan Kevin $101,000 Great American Title
Wingersky Michael C $349,000 Grand Canyon Title Agency In
Davidoff Ronald A $232,000 --
Marken Ventures Llc $215,000 Camelback Title Agency Llc
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Bd2 Capital Az Llc $1,593,000
Previous Owner Cameron 4 Llc $500,000
Previous Owner Horse Arm Creek Llc $130,000
Previous Owner Wingersky Michael C $565,600
Previous Owner Wingersky Michael C $360,000
Previous Owner Wingersky Michael C $300,000
Previous Owner Davidoff Ronald A $193,174
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/21/2019 01/21/19 Sold $600,000 -9.8% $401 / Sq Ft
01/03/2019 01/03/19 Price Changed $665,000 0.0% $444 / Sq Ft
12/22/2018 12/22/18 For Sale $665,000 0.0% $444 / Sq Ft
12/05/2018 12/05/18 Pending -- -- --
11/27/2018 11/27/18 For Sale $665,000 -- $444 / 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 $2,127 $16,364 -- --
2024 $2,103 $15,585 -- --
2023 $2,103 $65,970 $13,190 $52,780
2022 $2,020 $46,680 $9,330 $37,350
2021 $2,070 $42,820 $8,560 $34,260
2020 $2,019 $35,660 $7,130 $28,530
2019 $2,005 $29,330 $5,860 $23,470
2018 $1,964 $26,250 $5,250 $21,000
2017 $1,888 $21,900 $4,380 $17,520
2016 $1,815 $17,780 $3,550 $14,230
2015 $1,688 $15,130 $3,020 $12,110
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5851074

Arizona Regional Multiple Listing Service (ARMLS)

APN: 127-22-019A