NOT LISTED FOR SALE

Estimated Value: $493,000 - $835,000

Studio
-- Bath
3,656 Sq Ft
$175/Sq Ft Est. Value

Last Sold October 18, 2017

Last sale price $292,500 $80 Per Sq Ft

Est. 118% increase in value since last sale

Current estimated payment $3,598/month

2 Days on Market

Highlights

  • Clubhouse
  • Cooling Available
  • Individual Controls for Heating
  • Heated Community Pool

About This Home

As of October 2017

True turn key INVESTMENT! Best property in subdivision. Owner spent tons of money making this sparkle. Property management had to tell owner to stop spending money! Complete remodel from top to bottom. New oak cabinets, GRANITE COUNTER TOPS. Great appliance packages. Fresh paint inside and out. All deck tops completely redone. This is a perfect income property. All facts and figures are approximate, buyer verify MLS info. DRIVE BY ONLY.

Last Agent to Sell the Property

Andrew Williams

Synchronicity Realty License #BR644988000 Listed on: 08/19/2017

Co-Listed By

Flavia Williams

Synchronicity Realty License #SA665623000

Last Buyer's Agent

Anand Sabapathy

DeLex Realty License #SA561221000

DeLex Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,912

Year Built

  • Built in 1974

Lot Details

  • 7,362

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Block Exterior
  • Stucco

Parking

  • 8 Parking Spaces
  • 4 Covered Spaces

Schools

  • Alta Vista Elementary School
  • Palo Verde Middle School
  • Cortez High School

Utilities

  • Cooling Available
  • Individual Controls for Heating
  • Master Water Meter

Listing and Financial Details

  • The owner pays for water, sewer, landscaping
  • Tax Lot 23
  • Assessor Parcel Number 150-09-890

Community Details

Overview

  • 4 Units
  • Building Dimensions are 7360
  • Northern Lanai Unit One Subdivision

Amenities

  • Clubhouse

Recreation

  • Heated Community Pool

Building Details

  • Operating Expense $16,193
  • Gross Income $35,568
  • Net Operating Income $19,375

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,912

Year Built

Built in 1974

Lot Details

7,362 Sq Ft Lot

Listing Details

  • Cross Street: Northern and 33rd Ave
  • Legal Info Range: 2E
  • Property Type: Multiple Dwellings
  • Zoning: R-5
  • Number Of Buildings: 1
  • Year Built: 1974
  • Tax Year: 2016
  • Road Surface Type: Asphalt
  • Professional Management Expense: 3500.0
  • Co List Office Mls Id: sjfl01
  • Co List Office Phone: 480-649-3536
  • Subdivision Name: NORTHERN LANAI UNIT ONE
  • Garage Yn: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator: Yes
  • Appliances Included:Dishwasher: Yes
  • Appliances Included:Disposal: Yes
  • Appliances Included:Microwave2: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Painted, Stucco, Block, Frame - Wood
  • Roof: Composition
  • Construction:Frame - Wood: Yes
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 4.0
  • 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
  • Garage Details: Yes
  • Parking:Auto Door Opener: Yes

Utilities

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

Condo/Co-op/Association

  • Community Features: Clubhouse, Pool

Association/Amenities

  • Exterior Amenities:Landscape Wtr System: Yes
  • Exterior Amenities:Green Landscaping: Yes
  • Exterior Amenities:PatioBalcony: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Interior Amenities:Mini Blinds: Yes
  • Community Amenities:Pool2: Yes
  • Interior Amenities:Unfurnished: Yes
  • Exterior Amenities:Satellite Dish: Yes
  • Community Amenities:Clubhouse: Yes

Fee Information

  • Annual Water Sewer Expense: 2560.0

Schools

  • Elementary School: Alta Vista Elementary School
  • High School: Cortez High School
  • Middle Or Junior School: Palo Verde Middle School

Lot Info

  • Lot Size: 7360
  • Additional Parcels: No
  • Parcel #: 150-09-890

Multi Family

  • Owner Pays: Water, Sewer, Landscaping
  • Number Of Units Total: 4
  • Electric Expense: 850.0
  • Annual Gross Income: 35568.0
  • Insurance Expense: 900.0
  • Maintenance Expense: 2500.0
  • Property Net Operating Income: 19375.0
  • Annual Operating Expense: 16192.5
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 1912.5
  • Tax Book Number: 150.00
  • Tax Lot: 23

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Mar 23, 2023
Sold by
Narla Pavan Kumar
Bought by
3357 Harmont Dr Llc
Current Estimated Value
$638,077

Purchase Details

Closed on
Sep 29, 2021
Sold by
Jayaraman Satish and Krishnamurthy Rekharani
Bought by
Narla Pavan Kumar

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$401,250
Interest Rate
2.8%
Mortgage Type
New Conventional

Purchase Details

Listed on
Aug 19, 2017
Closed on
Aug 25, 2017
Sold by
Broek Nelson Ten
Bought by
Jayaraman Satish and Krishnamurthy Rekharani
Seller's Agent
Andrew Williams
Synchronicity Realty
Buyer's Agent
Anand Sabapathy
DeLex Realty
List Price
$299,000
Sold Price
$292,500
Premium/Discount to List
-$6,500
-2.17%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
9.67%
Original Mortgage
$216,750
Interest Rate
3.78%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 19, 2008
Sold by
Us Bank National Association
Bought by
Broek Nelson Ten

Purchase Details

Closed on
Sep 12, 2008
Sold by
Reust Ollie M
Bought by
U S Bank Na and Citigroup Global Markets Realty Corp Sec

Purchase Details

Closed on
Sep 6, 2005
Sold by
Clifton James M and Clifton Diane G
Bought by
Reust Ollie M

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
5.24%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Aug 30, 2005
Sold by
Reust Franklin William
Bought by
Reust Ollie M

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
5.24%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
May 12, 2003
Sold by
Larned Peter M and Larned Betty Fung
Bought by
Clifton James M and Clifton Diane G

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$181,500
Interest Rate
5.71%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 27, 1998
Sold by
Goman Valentin
Bought by
Larned Peter M and Larned Betty Fung

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$107,800
Interest Rate
7.06%
Mortgage Type
New Conventional

Purchase Details

Closed on
Dec 6, 1995
Sold by
Saldivar Arturo L and Saldivar Elsa
Bought by
Goman Valentin

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$91,000
Interest Rate
7.04%
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
3357 Harmont Dr Llc -- --
Narla Pavan Kumar $535,000 Servicelink
Jayaraman Satish $294,500 First Arizona Title Agency L
Broek Nelson Ten $219,900 Chicago Title
U S Bank Na $199,791 Accommodation
Reust Ollie M $375,000 Capital Title Agency Inc
Reust Ollie M -- Capital Title Agency Inc
Clifton James M $242,000 Lawyers Title Insurance Corp
Larned Peter M $154,000 Old Republic Title Agency
Goman Valentin $130,000 Old Republic Title Agency
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Narla Pavan Kumar $401,250
Previous Owner Jayaraman Satish $216,750
Previous Owner Reust Ollie M $300,000
Previous Owner Reust Ollie M $300,000
Previous Owner Clifton James M $181,500
Previous Owner Larned Peter M $107,800
Previous Owner Goman Valentin $91,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/18/2017 10/18/17 Sold $292,500 -2.2% $80 / Sq Ft
08/20/2017 08/20/17 Pending -- -- --
08/18/2017 08/18/17 For Sale $299,000 -- $82 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

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 $2,262 $17,800 -- --
2024 $2,137 $16,953 -- --
2023 $2,137 $42,100 $8,420 $33,680
2022 $2,068 $30,450 $6,090 $24,360
2021 $2,094 $28,670 $5,730 $22,940
2020 $2,042 $27,280 $5,450 $21,830
2019 $2,005 $22,800 $4,560 $18,240
2018 $1,952 $20,770 $4,150 $16,620
2017 $1,942 $18,050 $3,610 $14,440
2016 $1,907 $16,070 $3,210 $12,860
2015 $1,766 $16,200 $3,240 $12,960
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5648785

Arizona Regional Multiple Listing Service (ARMLS)

APN: 150-09-890

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