NOT LISTED FOR SALE
1 Bed
1 Bath
-- Sq Ft
871 Sq Ft Lot

Sale Details

Date Sold: May 15, 2015

Last sale price $937,500

32 Days on Market

Highlights

  • Heated Community Pool
  • Ceramic Tile Flooring
  • Central Heating and Cooling System
  • Phoenix Coding Academy Rated A

About This Home

As of May 2015

Papago View Apartments is a 20U complex comprised of five buildings with 4 units each.**100% OCCUPIED** Built with solid block construction in 1964, this low density, single level complex sports a laundry, swimming pool and workshop area. The unit mix is 15 one bedroom units and five two bedroom units, all with air conditioning. Several units have a private yard but all units have a green courtyard space.**UNDER NO CIRCUMSTANCES WALK OR TOUR THE PROPERTY WITHOUT AN APPOINTMENT** IT IS VERY SECLUDED AND YOU WILL BE CAUGHT by onsite manager * *Exterior inspection available upon appointment, contact listing broker for exterior inspection.**INTERIOR INSPECTION UPON ACCEPTED CONTRACT ONLY unless a unit might vacate
**ALL ITEMS OF CONCERN TO BE VERIFIED PRIOR TO END OF DUE DILLIGENCE*

Last Agent to Sell the Property

Lloyd Kaipainen

Better Homes & Gardens Real Estate SJ Fowler License #BR517153000 Listed on: 01/05/2015

Better Homes & Gardens Real Estate SJ Fowler

Co-Listed By

Lois Kaipainen

Income Property Shop License #SA567276000

Last Buyer's Agent

Lloyd Kaipainen

Better Homes & Gardens Real Estate SJ Fowler License #BR517153000 Listed on: 01/05/2015

Better Homes & Gardens Real Estate SJ Fowler
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Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,275

Year Built

  • Built in 1964

Lot Details

  • 871

Home Design

  • Built-Up Roof
  • Block Exterior

Flooring

  • Carpet
  • Ceramic Tile
  • Vinyl

Parking

  • 20 Open Parking Spaces
  • 20 Parking Spaces

Utilities

  • Cooling System Mounted To A Wall/Window
  • Central Heating and Cooling System
  • Heating System Uses Natural Gas
  • Heat Pump System
  • Individual Controls for Heating
  • Window Unit Heating System
  • Separate Meters

Listing and Financial Details

  • Tenant pays for electricity, cable TV
  • The owner pays for trash collection, water, sewer, landscaping, pool/spa maintenance
  • Tax Lot 26
  • Assessor Parcel Number 125-05-026

Community Details

Overview

  • 5 Buildings
  • 20 Units
  • Building Dimensions are irr
  • Papago Addition 3 Subdivision

Recreation

  • Heated Community Pool

Building Details

  • Operating Expense $50,834
  • Gross Income $121,662
  • Net Operating Income $70,900

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,275

Year Built

Built in 1964

Lot Details

871 Sq Ft Lot

Listing Details

  • Cross Street: McDowell/52nd Street
  • Legal Info Range: 4E
  • Property Type: Multiple Dwellings
  • Zoning: multi
  • Number Of Buildings: 5
  • Ownership: Fee Simple
  • Year Built: 1964
  • Tax Year: 2013
  • Road Surface Type: Asphalt
  • Professional Management Expense: 7304.0
  • Co List Office Mls Id: sjfl03
  • Co List Office Phone: 602-264-8400
  • Subdivision Name: Papago Addition 3
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Ceramic Tile, Vinyl
  • Appliances: F/S Oven/Range
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Painted, Block
  • Roof: Built-Up
  • Construction:Block: Yes

Garage/Parking

  • Parking Features: >1 Space Per Unit
  • Attached Garage: No
  • Open Parking Spaces: 20.0
  • Total Parking Spaces: 20.0
  • General Property Description:Uncvrd Parking Spcs: 20.0
  • General Property Description:Total Parking Spcs: 20.0
  • Parking:_greater_1 Space Per Unit: Yes

Utilities

  • Electric: APS, Individual Meter
  • Cooling: Central A/C, Individual, Heat Pump, Electric, Wall/Window Unit(s)
  • Heating: Individual, Central, Window/Wall Unit(s), Electric, Natural Gas
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Natural Gas: Yes
  • Heating:Electric: Yes
  • Heating:Individual: Yes
  • Heating:Central: Yes
  • Heating:WindowWall Unit(s): Yes

Condo/Co-op/Association

  • Community Features: Pool

Association/Amenities

  • Exterior Amenities:Landscape Wtr System: Yes
  • Exterior Amenities:Green Landscaping: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Exterior Amenities:Partially Fenced: Yes
  • Community Amenities:Pool2: Yes
  • Interior Amenities:Unfurnished: Yes

Fee Information

  • Trash Expense: 1800.0
  • Annual Water Sewer Expense: 9000.0

Schools

  • Junior High Dist: Phoenix Union High School District

Lot Info

  • Lot Size: irr
  • Additional Parcels: No
  • Parcel #: 125-05-026

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping, Pool/Spa Maintenance
  • Tenant Pays: Electricity, Cable TV
  • Number Of Units Total: 20
  • Electric Expense: 3600.0
  • Annual Gross Income: 121662.0
  • Insurance Expense: 3655.0
  • Maintenance Expense: 15000.0
  • Property Net Operating Income: 70900.0
  • Annual Operating Expense: 50834.0
  • Vacancy Allowance Rate: 0.1

Tax Info

  • Tax Annual Amount: 6275.0
  • Tax Book Number: 125.00
  • Tax Lot: 26

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Jan 5, 2015
Closed on
Apr 16, 2015
Sold by
Wagner Jerome and Jerome Wagner Revocable Trust
Bought by
Seller's Agent
Lloyd Kaipainen
Better Homes & Gardens Real Estate SJ Fowler
Buyer's Agent
Lloyd Kaipainen
Better Homes & Gardens Real Estate SJ Fowler
List Price
$995,000
Sold Price
$937,500
Premium/Discount to List
-$57,500
-5.78%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$525,000
Interest Rate
3.67%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 10, 2008
Sold by
Wagner Jerry and Gurman David A
Bought by
Wagner Jerome and Jerome Wagner Revocable Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$500,000
Interest Rate
6.47%
Mortgage Type
Balloon

Purchase Details

Closed on
Dec 3, 2008
Sold by
Halbach James R and James R Halbach Trust
Bought by
Wagner Jerry and Gurman David A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$500,000
Interest Rate
6.47%
Mortgage Type
Balloon

Purchase Details

Closed on
Jan 1, 1979
Sold by
Joromi Inc
Bought by
Snay Ray and Snay Jodora G

Purchase Details

Closed on
Jan 9, 1978
Sold by
Howe Barbara J
Bought by
Pizzuto Anthony S and Joromi Inc
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$937,500 Chicago Title Agency Inc
Wagner Jerome -- Chicago Title Insurance Comp
Wagner Jerry $925,000 Chicago Title Insurance Co
Snay Ray -- Chicago Title Insurance Co
Pizzuto Anthony S -- Chicago Title Insurance Co
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $700,000
Closed Papago View Apartments Llc $525,000
Previous Owner Wagner Jerry $500,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
05/15/2015 05/15/15 Sold $937,500 -5.8% --
02/06/2015 02/06/15 Pending -- -- --
01/05/2015 01/05/15 For Sale $995,000 -- --
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $9,147 $71,671
2024 $8,526 $68,258
2023 $8,526 $215,750 $43,150 $172,600
2022 $8,219 $119,650 $23,930 $95,720
2021 $8,356 $130,360 $26,070 $104,290
2020 $8,202 $106,900 $21,380 $85,520
2019 $8,171 $73,750 $14,750 $59,000
2018 $7,696 $63,980 $12,790 $51,190
2017 $7,373 $56,960 $11,390 $45,570
2016 $7,213 $52,000 $10,400 $41,600
2015 $6,770 $44,000 $8,800 $35,200
Source: Public Records

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5218046

Arizona Regional Multiple Listing Service (ARMLS)
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