NOT LISTED FOR SALE

Estimated Value: $810,000 - $867,000

Studio
-- Bath
3,656 Sq Ft
$230/Sq Ft Est. Value

Last Sold December 10, 2020

Last sale price $510,888 $140 Per Sq Ft

Est. 64% increase in value since last sale

Current estimated payment $4,570/month

9 Days on Market

Highlights

  • Heated Community Pool
  • Central Air
  • Heating Available
  • Ceramic Tile Flooring

About This Home

As of December 2020

Buyer to verify all facts, figures and financials. Amazing cash flow and great FOURPLEX property in prime Phoenix location! One 3 Bed/2 Bath Unit and Three 2 Bed/1Bath Units. Individually metered for electric. Units have tile/vinyl floors, garages, and yards/balconies, so tenants love them! All units rented for $3750, but plenty of upside to increase to $4000+ (3 bed is currently at under $950). Location is amazing - next to major shopping and freeways. HOA provides tenants with community pool and takes care of community maintenance. Coin-op laundry in building for extra cash. New roof in 2011 and ACs in 3&4 replaced in 2016. Don't miss out on this multi-family with great financials and real-estate fundamentals! Please do not disturb tenants, showing after accepted contract.

Last Agent to Sell the Property

Logan Cerdhe

Stratton Vantage Property Management License #BR664977000 Listed on: 10/01/2020

Co-Listed By

Manuel Cerdhe

Mi Casa Property Management License #BR041729000

Last Buyer's Agent

Claudia Flores

HomeSmart License #BR580582000

HomeSmart

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,085

Year Built

  • Built in 1974

Lot Details

  • 8,756

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Stucco

Flooring

  • Ceramic Tile
  • Vinyl

Parking

  • 8 Parking Spaces
  • 4 Covered Spaces
  • Paved Parking
  • Assigned Parking

Schools

  • Washington Elementary School
  • Palo Verde Middle School
  • Cortez High School

Utilities

  • Central Air
  • Heating Available

Listing and Financial Details

  • The owner pays for electricity, trash collection, water, sewer
  • Tax Lot 14
  • Assessor Parcel Number 150-09-881

Community Details

Overview

  • 4 Units
  • Building Dimensions are 8760
  • Northern Lanai Unit One Subdivision

Recreation

  • Heated Community Pool

Building Details

  • Operating Expense $11,325
  • Gross Income $45,000
  • Net Operating Income $33,675

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,085

Year Built

Built in 1974

Lot Details

0

Listing Details

  • Cross Street: Northern Ave & 35th Ave
  • Legal Info Range: 2E
  • Property Type: Multiple Dwellings
  • Zoning: R-5
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1974
  • Tax Year: 2020
  • Road Surface Type: Asphalt
  • Co List Office Mls Id: mcas01
  • Co List Office Phone: 480-969-4180
  • Subdivision Name: NORTHERN LANAI UNIT ONE
  • Garage Yn: Yes
  • Cooling:Central Air: Yes
  • Roofing:Composition: Yes
  • Construction:Wood Frame: Yes
  • Water Source City Franchise2: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Ceramic Tile, Vinyl
  • Appliances: Free-Standing Range, Disposal, Dishwasher, Refrigerator
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Dishwasher2: Yes
  • Appliances Included:Disposal2: Yes
  • Community Features:Pool2: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Wood Frame, Stucco
  • Roof: Composition

Garage/Parking

  • Total Covered Spaces: 4.0
  • Parking Features: Paved, Assigned, 1 Space/Unit
  • Attached Garage: No
  • Open Parking Spaces: 4.0
  • Total Parking Spaces: 8.0
  • General Property Description:Covered Parking Spcs: 4.0
  • General Property Description:Uncvrd Parking Spcs: 4.0
  • General Property Description:Total Parking Spcs: 8.0
  • Parking Features:Assigned: Yes
  • Parking Features:Paved2: Yes
  • Parking Features:Garage: Yes

Utilities

  • Electric: SRP
  • Cooling: Central Air
  • Heating: Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes

Condo/Co-op/Association

  • Community Features: Pool

Association/Amenities

  • Exterior Amenities:Green Landscaping: Yes
  • Exterior Amenities:PatioBalcony: Yes

Fee Information

  • Annual Water Sewer Expense: 4000.0

Schools

  • Elementary School: Washington Elementary School
  • High School: Cortez High School
  • Junior High Dist: Glendale Union High School District
  • Middle Or Junior School: Palo Verde Middle School

Lot Info

  • Lot Size: 8760
  • Additional Parcels: No
  • Parcel #: 150-09-881

Multi Family

  • Owner Pays: Electricity, Trash Collection, Water, Sewer
  • Number Of Units Total: 4
  • Annual Gross Income: 45000.0
  • Insurance Expense: 2900.0
  • Property Net Operating Income: 33675.0
  • Annual Operating Expense: 11325.0

Tax Info

  • Tax Annual Amount: 2085.0
  • Tax Book Number: 150.00
  • Tax Lot: 14

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Mar 5, 2025
Sold by
Lee Investments Group Llc
Bought by
Cheryl T Pesci Trust and Pesci
Current Estimated Value
$837,922

Purchase Details

Listed on
Oct 1, 2020
Closed on
Jan 29, 2021
Sold by
Lee Shayar
Bought by
Lee Investments Group Llc
Seller's Agent
Logan Cerdhe
Stratton Vantage Property Management
Buyer's Agent
Claudia Flores
HomeSmart
List Price
$548,888
Sold Price
$510,888
Premium/Discount to List
-$38,000
-6.92%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
10.30%

Purchase Details

Listed on
Oct 1, 2020
Closed on
Nov 19, 2020
Sold by
Gupta Aishvarya
Bought by
Lee Shayar
Seller's Agent
Logan Cerdhe
Stratton Vantage Property Management
Buyer's Agent
Claudia Flores
HomeSmart
List Price
$548,888
Sold Price
$510,888
Premium/Discount to List
-$38,000
-6.92%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$383,166
Interest Rate
2.8%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jun 9, 2020
Closed on
Jul 13, 2020
Sold by
Shah Aneri
Bought by
Gupta Aishvarya
Seller's Agent
Ryan Swan
HomeSmart
Buyer's Agent
Ryan Swan
HomeSmart
List Price
$325,000
Sold Price
$321,888
Premium/Discount to List
-$3,112
-0.96%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
208.55%
Original Mortgage
$241,416
Interest Rate
3.1%
Mortgage Type
New Conventional

Purchase Details

Listed on
Dec 19, 2016
Closed on
Apr 26, 2017
Sold by
Krause Carroll Kenneth
Bought by
Valles Hakeem
Seller's Agent
Rebecca Nystrom
Nystrom Realty
Buyer's Agent
Ryan Swan
HomeSmart
List Price
$268,000
Sold Price
$268,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.87%
Original Mortgage
$259,055
Interest Rate
4.25%
Mortgage Type
FHA

Purchase Details

Closed on
Jun 2, 2010
Sold by
Aurora Loan Services Llc
Bought by
Krause Carroll Kenneth

Purchase Details

Closed on
Apr 14, 2010
Sold by
Reyes Edward and Reyes Ana R
Bought by
Aurora Loan Services Llc

Purchase Details

Closed on
Sep 26, 2005
Sold by
Kahn James M and Littlewood Jill A
Bought by
Reyes Edward and Reyes Ana R

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$262,500
Interest Rate
5.5%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Mar 23, 2004
Sold by
Kahn James M
Bought by
Kahn James M and Littlewood Jill A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$216,000
Interest Rate
5.56%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Mar 3, 2004
Sold by
Kando Hirmiz and Kando Linda
Bought by
Kahn James M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$216,000
Interest Rate
5.56%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
May 7, 2001
Sold by
Springer Susan A and Michelson Maureen M
Bought by
Kando Hirmiz and Kando Linda

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$165,000
Interest Rate
7.03%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 29, 1999
Sold by
Boyce Daniel J
Bought by
Springer Susan A and Michelson Maureen M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$144,000
Interest Rate
6.87%
Mortgage Type
New Conventional
Source: Public Records
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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
Cheryl T Pesci Trust $858,500 Wfg National Title Insurance C
Lee Investments Group Llc -- Accommodation
Lee Shayar $510,888 Old Republic Title
Gupta Aishvarya -- Old Republic Title Agency
Gupta Aishvarya $321,888 Old Republic Title Agency
Valles Hakeem -- Grand Canyon Title Agency
Krause Carroll Kenneth $121,000 Security Title Agency
Aurora Loan Services Llc $270,423 Accommodation
Reyes Edward $375,000 --
Kahn James M -- Fidelity Title
Kahn James M -- Fidelity National Title
Kahn James M $275,000 Fidelity National Title
Kando Hirmiz $207,000 Stewart Title & Trust
Springer Susan A $188,000 Ati Title Agency
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Lee Shayar $383,166
Previous Owner Gupta Aishvarya $241,416
Previous Owner Valles Hakeem $259,055
Previous Owner Reyes Edward $262,500
Previous Owner Kahn James M $216,000
Previous Owner Kahn James M $216,000
Previous Owner Kando Hirmiz $165,000
Previous Owner Springer Susan A $144,000
Closed Reyes Edward $37,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
12/10/2020 12/10/20 Sold $510,888 -6.9% $140 / Sq Ft
11/13/2020 11/13/20 For Sale $548,888 0.0% $150 / Sq Ft
11/13/2020 11/13/20 Price Changed $548,888 0.0% $150 / Sq Ft
10/01/2020 10/01/20 For Sale $548,888 +70.5% $150 / Sq Ft
07/15/2020 07/15/20 Sold $321,888 -1.0% $88 / Sq Ft View Prior Sale
06/09/2020 06/09/20 For Sale $325,000 +21.3% $89 / Sq Ft
05/01/2017 05/01/17 Sold $268,000 0.0% $73 / Sq Ft View Prior Sale
03/26/2017 03/26/17 Pending -- -- --
03/24/2017 03/24/17 For Sale $268,000 0.0% $73 / Sq Ft
03/01/2017 03/01/17 Pending -- -- --
02/25/2017 02/25/17 Price Changed $268,000 +3.1% $73 / Sq Ft
02/02/2017 02/02/17 For Sale $260,000 0.0% $71 / Sq Ft
12/27/2016 12/27/16 Pending -- -- --
12/19/2016 12/19/16 For Sale $260,000 -- $71 / 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 $2,310 $18,174 -- --
2024 $2,182 $17,309 -- --
2023 $2,182 $42,920 $8,580 $34,340
2022 $2,111 $31,020 $6,200 $24,820
2021 $2,138 $29,370 $5,870 $23,500
2020 $2,085 $27,950 $5,590 $22,360
2019 $2,047 $23,180 $4,630 $18,550
2018 $1,993 $21,070 $4,210 $16,860
2017 $1,983 $18,280 $3,650 $14,630
2016 $1,947 $16,370 $3,270 $13,100
2015 $1,803 $16,420 $3,280 $13,140
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6140533

Arizona Regional Multiple Listing Service (ARMLS)

APN: 150-09-881