$929,000
SOLD SEP 21, 2015

302 W Medlock Dr Phoenix, AZ 85013

Uptown Phoenix Neighborhood
-- Bed
-- Bath
2,520 Sq Ft
1960 Built

Recently Sold

$369 Per Sq Ft

7% Below List Price

60 Days on Market

Highlights

  • Cooling Available
  • Madison Richard Simis School Rated A-
  • Heating System Uses Natural Gas

About This Home

As of May 2019

Rosecrest is a 15 unit garden-style community comprised of 3 buildings and constructed of block. With
mature landscaping, pitched roofs and ample parking, this property attracts midtown urbanites making it
easy to rent- proven through it's high occupancy. There is excellent potential for cash flow with this
property, and solid rent growth. This single level apartment has 9,459 of rentable square feet, and
occupies a half acre of land, allowing for further potential. Rosecrest is individually metered for electricity
and gas, and the property pays for water, sewer, and trash. Located on Medlock Drive, a beautiful and quiet street, just north of Camelback Road and West of Central
Avenue in Phoenix. The community is situated less then one-half mile from Camelback Village Square and just
steps from the new metro Light-Rail system. The property is centrally located between the I-10, I-17, and
SR-51 freeways allowing tenants easy access to all major highway systems in the Phoenix MSA. Residents
of Rosecrest benefit from the wealth of nearby employment and recreation, including Biltmore Fashion
Park, as well as numerous new developments currently in planning and construction phases.

Last Agent to Sell the Property

Jamie Canute

Orion Investment Real Estate License #SA580623000 Listed on: 05/01/2015

Co-Listed By

Zack Mishkin

Orion Investment Real Estate License #SA566430000

Last Buyer's Agent

Lauren Nash

HomeSmart License #SA646632000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,164

Year Built

  • Built in 1960

Home Design

  • Composition Roof
  • Block Exterior

Parking

  • 2 Open Parking Spaces
  • 13 Parking Spaces
  • 11 Covered Spaces

Schools

  • Solano Elementary School
  • Osborn Middle School
  • Central High School

Utilities

  • Cooling Available
  • Heating System Uses Natural Gas
  • Individual Controls for Heating
  • Master Water Meter

Listing and Financial Details

  • The owner pays for trash collection, water, sewer
  • Tax Lot 9
  • Assessor Parcel Number 162-26-028

Community Details

Overview

  • 3 Buildings
  • 15 Units
  • Building Dimensions are IR
  • Becker Add To Orangewood Subdivision

Building Details

  • Operating Expense $49,720
  • Gross Income $95,160
  • Net Operating Income $51,101

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,164

Year Built

Built in 1960

Lot Details

0

Listing Details

  • Cross Street: 3rd Ave & Camelback
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R-4
  • Number Of Buildings: 3
  • Year Built: 1960
  • Tax Year: 2014
  • Directions: West on Camelback to 3rd Ave North on 3rd Ave. Property is on NW corner of 3rd Ave and Medlock
  • Road Surface Type: Asphalt, Sidewalk(s)
  • Professional Management Expense: 8013.0
  • Co List Office Mls Id: mlso106
  • Co List Office Phone: 480-634-6934
  • Subdivision Name: BECKER ADD TO ORANGEWOOD
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

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

Exterior Features

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

Garage/Parking

  • Total Covered Spaces: 11.0
  • Open Parking Spaces: 2.0
  • Total Parking Spaces: 13.0
  • General Property Description:Covered Parking Spcs: 11.0
  • General Property Description:Uncvrd Parking Spcs: 2.0
  • General Property Description:Total Parking Spcs: 13.0
  • Parking:Street Parking: Yes

Utilities

  • Electric: APS, Individual Meter
  • Cooling: Electric
  • Heating: Individual, Natural Gas
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Master Meter
  • Heating:Natural Gas: Yes
  • Heating:Individual: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Green Landscaping: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Exterior Amenities:Security Light(s)3: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Separate Storage: Yes
  • Interior Amenities:Unfurnished: Yes
  • Interior Amenities:Vertical Blinds2: Yes

Fee Information

  • Annual Water Sewer Expense: 13293.0

Schools

  • Elementary School: Solano School
  • High School: Central High School
  • Middle Or Junior School: Osborn Middle School

Lot Info

  • Lot Size: IR
  • Additional Parcels: No
  • Parcel #: 162-26-028

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Number Of Units Total: 15
  • Annual Gross Income: 95159.6
  • Insurance Expense: 4500.0
  • Maintenance Expense: 7500.0
  • Property Net Operating Income: 51101.0
  • Annual Operating Expense: 49720.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 5164.0
  • Tax Book Number: 162.00
  • Tax Lot: 9

Range of Values:

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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
05/10/2019 05/10/19 Sold $1,800,000 0.0% $714 / Sq Ft
02/17/2019 02/17/19 For Sale $1,800,000 +93.8% $714 / Sq Ft
09/21/2015 09/21/15 Sold $929,000 -6.6% $369 / Sq Ft
06/29/2015 06/29/15 Pending -- -- --
04/30/2015 04/30/15 For Sale $995,000 -- $395 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Danelle Treguboff

    Seller's Agent in 2019

    Danelle Treguboff

    West USA Realty

    (623) 628-6866

    57 Total Sales

    Section Image

  • J

    Seller's Agent in 2015

    Jamie Canute

    Orion Investment Real Estate

  • Zack Mishkin

    Seller Co-Listing Agent in 2015

    Zack Mishkin

    Orion Investment Real Estate

    (602) 363-6363

    4 Total Sales

    Section Image

  • L

    Buyer's Agent in 2015

    Lauren Nash

    HomeSmart

See All Agents

Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5273065

Arizona Regional Multiple Listing Service (ARMLS)

Arizona Maricopa County Phoenix 85013 Uptown Phoenix

302 W Medlock Dr, Phoenix, AZ

This home is located at 302 W Medlock Dr, Phoenix, AZ 85013 and is currently priced at $929,000, approximately $368 per square foot. This property was built in 1960. 302 W Medlock Dr is a home located in Maricopa County with nearby schools including Madison Richard Simis School, Madison Meadows School, and Central High 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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