NOT LISTED FOR SALE

Estimated Value: $270,000 - $456,000

-- Bed
4 Baths
1,826 Sq Ft
$221/Sq Ft Est. Value

Last Sold January 13, 2020

Last sale price $275,000 $151 Per Sq Ft

Est. 47% increase in value since last sale

Current estimated payment $2,258/month

12 Days on Market

Highlights

  • Evaporated cooling system
  • Phoenix Coding Academy Rated A
  • Floor Furnace

About This Home

As of January 2020

One of the best priced 4 unit buildings on the market for this new listing west of Downtown Phoenix and just off the I-10. This property consists of two buildings. Building A has a 3 br/1 br. Building B has a 2 br/2br. Excellent unit mix with very high rental upside as rents are below market. Several upgrades over the last several years, including all units being remodeled in last 4 years. All leases expire in 2020. Newer electrical system with permits. 1 meter/building. Owner pays all utilities currently. Long term local owner who has managed the property. Excellent value-add opportunity with a very deep rental base in a nicely gentrifying area of Phoenix. Unit square feet estimated. Buyer to complete and rely on own due diligence.

Last Agent to Sell the Property

James Stephens

Better Homes & Gardens Real Estate SJ Fowler License #BR650365000 Listed on: 12/16/2019

Better Homes & Gardens Real Estate SJ Fowler

Last Buyer's Agent

James Stephens

Better Homes & Gardens Real Estate SJ Fowler License #BR650365000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $628

Year Built

  • Built in 1956

Lot Details

  • 8,364

Home Design

  • Block Exterior

Parking

  • 8 Open Parking Spaces
  • 8 Parking Spaces

Utilities

  • Evaporated cooling system
  • Floor Furnace
  • Wall Furnace
  • Master Water Meter

Listing and Financial Details

  • Tenant pays for cable TV
  • The owner pays for trash collection, water
  • Tax Lot 8
  • Assessor Parcel Number 106-26-008

Community Details

Overview

  • 2 Buildings
  • 4 Units
  • Building Dimensions are 8366
  • Ohlinger Tract 1 Subdivision

Building Details

  • Operating Expense $13,997
  • Gross Income $35,226
  • Net Operating Income $21,229

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$628

Year Built

Built in 1956

Lot Details

0

Listing Details

  • Cross Street: 35th Ave. & Van Buren
  • Legal Info Range: 2E
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 2
  • Year Built: 1956
  • Tax Year: 2019
  • Directions: I-10 to 35th Avenue, exit south to Grant, west to property.
  • Road Surface Type: Gravel, Dirt, Asphalt
  • Subdivision Name: OHLINGER TRACT 1
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Other
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator: Yes
  • Appliances Included:WD Hookup: Yes
  • Appliances Included:BI OvenRange: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Other, See Remarks, Block
  • Roof: See Remarks, Other
  • Construction:Block: Yes

Garage/Parking

  • Open Parking Spaces: 8.0
  • Total Parking Spaces: 8.0
  • General Property Description:Uncvrd Parking Spcs: 8.0
  • General Property Description:Total Parking Spcs: 8.0
  • Parking:_greater_1 Space Per Unit: Yes

Utilities

  • Electric: APS, Master Meter
  • Cooling: Evaporative Cooling
  • Heating: Floor Furnace, Wall Furnace
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Master Meter
  • Electric Master Meter: Yes
  • Heating:Wall Furnace: Yes

Condo/Co-op/Association

  • Community Features: Other, See Remarks

Association/Amenities

  • Community Amenities:Other18: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Exterior Amenities:Partially Fenced: Yes
  • Community Amenities:See Remarks15: Yes

Lot Info

  • Lot Size: 8366
  • Additional Parcels: No
  • Parcel #: 106-26-008

Multi Family

  • Owner Pays: Trash Collection, Water
  • Tenant Pays: Cable TV
  • Number Of Units Total: 4
  • Annual Gross Income: 35226.0
  • Property Net Operating Income: 21229.0
  • Annual Operating Expense: 13997.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 628.0
  • Tax Book Number: 106.00
  • Tax Lot: 8

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jan 17, 2024
Sold by
Er Property Solutions Llc
Bought by
Smagacz Ryan
Current Estimated Value
$403,973

Purchase Details

Listed on
Dec 16, 2019
Closed on
Feb 13, 2020
Sold by
Smagacz Ryan
Bought by
Er Property Solutions Llc
Seller's Agent
James Stephens
Better Homes & Gardens Real Estate SJ Fowler
Buyer's Agent
James Stephens
Better Homes & Gardens Real Estate SJ Fowler
List Price
$299,000
Sold Price
$275,000
Premium/Discount to List
-$24,000
-8.03%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.43%
Original Mortgage
$247,500
Interest Rate
3.7%
Mortgage Type
New Conventional

Purchase Details

Listed on
Dec 16, 2019
Closed on
Jan 15, 2020
Sold by
Heartland Investment Properties Llc
Bought by
Smagacz Ryan
Seller's Agent
James Stephens
Better Homes & Gardens Real Estate SJ Fowler
Buyer's Agent
James Stephens
Better Homes & Gardens Real Estate SJ Fowler
List Price
$299,000
Sold Price
$275,000
Premium/Discount to List
-$24,000
-8.03%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$247,500
Interest Rate
3.7%
Mortgage Type
New Conventional

Purchase Details

Listed on
Dec 16, 2019
Closed on
Dec 27, 2019
Sold by
Ekd Creative Design Group Llc
Bought by
Heartland Investment Properties Llc
Seller's Agent
James Stephens
Better Homes & Gardens Real Estate SJ Fowler
Buyer's Agent
James Stephens
Better Homes & Gardens Real Estate SJ Fowler
List Price
$299,000
Sold Price
$275,000
Premium/Discount to List
-$24,000
-8.03%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$247,500
Interest Rate
3.7%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jul 22, 2017
Sold by
Dolan Kim A
Bought by
Ekd Creative Design Group Llc

Purchase Details

Closed on
May 9, 2017
Sold by
Dolan Edward
Bought by
Dolan Kim A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$105,000
Interest Rate
4.14%
Mortgage Type
Commercial

Purchase Details

Closed on
Nov 21, 2011
Sold by
Dolan Kim Alison
Bought by
Ekd Creative Design Group Llc

Purchase Details

Closed on
Nov 8, 2011
Sold by
Dolan Ed
Bought by
Dolan Kim Alison

Purchase Details

Closed on
Jul 7, 2006
Sold by
Siobasky Marc
Bought by
Lyons Lee

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$196,000
Interest Rate
9%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Nov 14, 2005
Sold by
Willis Paulette
Bought by
F Y E Llc and Hansel & Gretel Family Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$148,000
Interest Rate
5.68%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 26, 2005
Sold by
Profit Alliance Inc
Bought by
Slobasky Marc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$148,000
Interest Rate
5.68%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 26, 2005
Sold by
Desert Crest Properties Llc
Bought by
Profit Alliance Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$115,000
Interest Rate
5.61%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 18, 2005
Sold by
Willis Paulette
Bought by
Desert Crest Properties Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$115,000
Interest Rate
5.61%
Mortgage Type
Commercial

Purchase Details

Closed on
Jul 16, 2000
Sold by
Famiano Assunta D and Assunta D Famiano Family Trust
Bought by
Willis Paulette
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
Smagacz Ryan -- None Listed On Document
Er Property Solutions Llc -- None Available
Smagacz Ryan $305,000 Chicago Title Agency
Heartland Investment Properties Llc $275,000 Chicago Title Agency
Ekd Creative Design Group Llc -- Accommodation
Dolan Kim A -- First American Title Insuran
Ekd Creative Design Group Llc -- Accommodation
Dolan Kim Alison -- First Arizona Title Agency
Dolan Kim Alison $20,000 First Arizona Title Agency
Lyons Lee $245,000 North American Title Co
F Y E Llc -- --
Slobasky Marc $185,000 --
Profit Alliance Inc $130,500 North American Title Co
Desert Crest Properties Llc $105,000 --
Willis Paulette -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Smagacz Ryan $495,000
Previous Owner Smagacz Ryan $247,500
Previous Owner Heartland Investment Properties Llc $274,275
Previous Owner Dolan Kim A $105,000
Previous Owner Lyons Lee $196,000
Previous Owner Lyons Lee $49,000
Previous Owner Slobasky Marc $148,000
Previous Owner Profit Alliance Inc $115,000
Previous Owner Desert Crest Properties Llc $87,000
Closed Slobasky Marc $37,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/13/2020 01/13/20 Sold $275,000 -8.0% $151 / Sq Ft
12/26/2019 12/26/19 Pending -- -- --
12/26/2019 12/26/19 For Sale $299,000 0.0% $164 / Sq Ft
12/16/2019 12/16/19 Pending -- -- --
12/14/2019 12/14/19 For Sale $299,000 -- $164 / 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 $680 $5,392 -- --
2024 $647 $5,135 -- --
2023 $647 $32,230 $6,440 $25,790
2022 $621 $22,820 $4,560 $18,260
2021 $657 $21,150 $4,230 $16,920
2020 $635 $15,650 $3,130 $12,520
2019 $628 $12,920 $2,580 $10,340
2018 $615 $10,200 $2,040 $8,160
2017 $591 $10,950 $2,190 $8,760
2016 $600 $7,760 $1,550 $6,210
2015 $559 $5,870 $1,170 $4,700
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6014817

Arizona Regional Multiple Listing Service (ARMLS)

APN: 106-26-008