NOT LISTED FOR SALE

36 E Vaughn Ave Unit 10 Gilbert, AZ 85234

Downtown Gilbert Neighborhood

Estimated Value: $879,000 - $1,552,000

12 Beds
-- Bath
4,586 Sq Ft
$254/Sq Ft Est. Value

Last Sold March 08, 2017

Last sale price $505,000 $110 Per Sq Ft

Est. 131% increase in value since last sale

Current estimated payment $6,670/month

346 Days on Market

Highlights

  • Cooling Available
  • Community Playground
  • Ceiling Fan
  • Burk Elementary School Rated A-
  • Community Barbecue Grill
  • Individual Controls for Heating

About This Home

As of March 2017

From the Balconies see the nearby Historic Downtown Gilbert! Community has an HOA which includes the common area, sewer, water, and trash. Units are individually metered for electric. Includes (4) 3BD/2BA Units. PROPERTY MANAGEMENT WAS CHANGED IN MAY DUE TO PAST POOR MANAGEMENT COMPANY AND RENTS HAVE BEEN RAISED EASILY! Property is FULLY occupied! There is still room to raise the rents higher. Here is an opportunity to own a 3 bedroom fourplex with newer construction and in an AMAZING location!
If this Property is showing ACTIVE this means that it is availalbe. See Document tab for CURRENT RENT ROLE and Year to Date operating numbers. Understand that this is May thru the end of Dec due to PM change.
Buyer to verify all financials, zoning, measurements and all items of concern prior to C

Last Agent to Sell the Property

Linda Gerchick

Gerchick Real Estate License #BR114848000 Listed on: 02/27/2016

Last Buyer's Agent

Frank Gerola

Venture REI, LLC License #SA645607000

Venture REI, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,467

Year Built

  • Built in 2005

Lot Details

  • 2,744

Home Design

  • Wood Frame Construction
  • Tile Roof
  • Stucco

Interior Spaces

  • Ceiling Fan

Parking

  • 8 Parking Spaces
  • 4 Covered Spaces
  • Common or Shared Parking
  • Assigned Parking

Schools

  • Burk Elementary School
  • Mesquite Elementary School - Gilbert Middle School
  • Gilbert High School

Utilities

  • Cooling Available
  • Individual Controls for Heating

Listing and Financial Details

  • Tenant pays for water, cable TV
  • Tax Lot 10
  • Assessor Parcel Number 304-11-375

Community Details

Overview

  • 4 Units
  • Building Dimensions are 2,723
  • Vaughn Manor Condominium Amd Subdivision

Amenities

  • Community Barbecue Grill

Recreation

  • Community Playground

Building Details

  • Operating Expense $14,665
  • Gross Income $44,365
  • Net Operating Income $30,575

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,467

Year Built

Built in 2005

Lot Details

0

Listing Details

  • Cross Street: W Elliot Rd and N Gilbert Rd
  • Legal Info Range: 6E
  • Property Type: Multiple Dwellings
  • Zoning: Multi
  • Number Of Buildings: 1
  • Year Built: 2005
  • Tax Year: 2016
  • Directions: North on Gilbert Rd, East on Vaughn Ave, North on Elm St to Property.
  • Road Surface Type: Asphalt, Curb(s) & Gutter(s), Sidewalk(s)
  • Professional Management Expense: 2338.0
  • Subdivision Name: VAUGHN MANOR CONDOMINIUM AMD
  • Cooling:Ceiling Fan(s): Yes
  • Special Features: VirtualTour
  • 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:WD Hookup: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm, APOD/Backup Avaible
  • Construction Type: Painted, Stucco, Frame - Wood
  • Roof: See Remarks, Tile
  • Construction:Frame - Wood: Yes

Garage/Parking

  • Total Covered Spaces: 4.0
  • Parking Features: Assigned, Common
  • 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:Carport: Yes
  • Parking:_greater_1 Space Per Unit: Yes
  • Parking:Paved Parking: Yes
  • Parking:Add_squote_l Parking Avail: Yes
  • Parking:Assigned: Yes

Utilities

  • Electric: SRP, Individual Meter
  • Cooling: Individual, Electric, Ceiling Fan(s)
  • Heating: Individual, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes
  • Heating:Individual: Yes

Condo/Co-op/Association

  • Community Features: Barbecue, Play Area, No Pool

Association/Amenities

  • Exterior Amenities:Landscape Wtr System: Yes
  • Exterior Amenities:Green Landscaping: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Exterior Amenities:PatioBalcony: Yes
  • Exterior Amenities:Security Light(s)3: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Interior Amenities:Mini Blinds: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Exterior Amenities:Separate Storage: Yes
  • Interior Amenities:Unfurnished: Yes
  • Interior Amenities:Breakfast Bar2: Yes
  • Interior Amenities:Vertical Blinds2: Yes
  • Community Amenities:Barbecue: Yes
  • Community Amenities:Play Area: Yes

Schools

  • Elementary School: Burk Elementary School
  • High School: Gilbert High School
  • Middle Or Junior School: Mesquite Elementary School - Gilbert

Lot Info

  • Lot Size: 2,723
  • Additional Parcels: No
  • Parcel #: 304-11-375

Multi Family

  • Tenant Pays: Water, Cable TV
  • Number Of Units Total: 4
  • Annual Gross Income: 44365.0
  • Insurance Expense: 2600.0
  • Maintenance Expense: 1500.0
  • Property Net Operating Income: 30575.0
  • Annual Operating Expense: 14665.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 2467.0
  • Tax Book Number: 304.00
  • Tax Lot: 10

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Sep 27, 2017
Sold by
Kkc Holdings Llc
Bought by
The Tides At Downtown Gilbert Llc
Current Estimated Value
$1,166,048

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$5,510,000
Outstanding Balance
$4,636,650
Interest Rate
3.83%
Mortgage Type
Commercial
Estimated Equity
-$3,461,080

Purchase Details

Listed on
Feb 27, 2016
Closed on
Apr 3, 2017
Sold by
Casey Mika and Casey Sarah
Bought by
Kkc Holdings Llc
Seller's Agent
Linda Gerchick
Gerchick Real Estate
Buyer's Agent
Frank Gerola
Venture REI, LLC
List Price
$600,000
Sold Price
$505,000
Premium/Discount to List
-$95,000
-15.83%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
10.64%

Purchase Details

Listed on
Feb 27, 2016
Closed on
Feb 23, 2017
Sold by
Wilhelmsen Finn and Wilhelmsen Mia
Bought by
Casey Mika and Casey Sarah
Seller's Agent
Linda Gerchick
Gerchick Real Estate
Buyer's Agent
Frank Gerola
Venture REI, LLC
List Price
$600,000
Sold Price
$505,000
Premium/Discount to List
-$95,000
-15.83%

Purchase Details

Closed on
Mar 20, 2009
Sold by
Wilhelmsen Finn and Wilhelmsen Mai
Bought by
Wilhelmsen Finn and Wilhelmsen Mai

Purchase Details

Closed on
Oct 5, 2006
Sold by
Wilhelmsen Finn
Bought by
Wilhelmsen Finn and Wilhelmsen Mai

Purchase Details

Closed on
Jul 26, 2006
Sold by
Vaughn Manor Llc
Bought by
Wilhelmsen Finn

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$520,000
Interest Rate
6.44%
Mortgage Type
Purchase Money Mortgage
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
The Tides At Downtown Gilbert Llc $640,000 Commonwealth Land Title Insu
Kkc Holdings Llc -- None Available
Casey Mika $505,000 Empire West Title Agency
Wilhelmsen Finn -- None Available
Wilhelmsen Finn -- None Available
Wilhelmsen Finn -- Capital Title Agency Inc
Wilhelmsen Finn $650,000 Capital Title Agency Inc
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open The Tides At Downtown Gilbert Llc $5,510,000
Previous Owner Wilhelmsen Finn $520,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/08/2017 03/08/17 Sold $505,000 -7.3% $110 / Sq Ft
02/06/2017 02/06/17 Pending -- -- --
01/20/2017 01/20/17 Price Changed $545,000 -2.7% $119 / Sq Ft
01/02/2017 01/02/17 Price Changed $559,900 0.0% $122 / Sq Ft
11/06/2016 11/06/16 Price Changed $560,000 -0.9% $122 / Sq Ft
09/12/2016 09/12/16 Price Changed $565,000 -5.8% $123 / Sq Ft
02/26/2016 02/26/16 For Sale $600,000 -- $131 / 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 $2,764 $31,609 -- --
2024 $2,778 $30,104 -- --
2023 $2,778 $69,710 $13,940 $55,770
2022 $2,702 $72,620 $14,520 $58,100
2021 $2,795 $64,180 $12,830 $51,350
2020 $2,753 $59,430 $11,880 $47,550
2019 $2,558 $40,710 $8,140 $32,570
2018 $2,488 $33,460 $6,690 $26,770
2017 $2,406 $31,860 $6,370 $25,490
2016 $2,467 $32,370 $6,470 $25,900
2015 $2,249 $31,870 $6,370 $25,500
Source: Public Records

Agents Affiliated with this Home

  • Linda Gerchick

    Seller's Agent in 2017

    Linda Gerchick

    Gerchick Real Estate

    (602) 688-9279

    121 Total Sales

    Linda Gerchick
    Section Image
  • Frank Gerola

    Buyer's Agent in 2017

    Frank Gerola

    Venture REI, LLC

    (480) 231-3401

    30 in this area

    333 Total Sales

    Frank Gerola
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5404867

Arizona Regional Multiple Listing Service (ARMLS)

APN: 304-11-375

Arizona Maricopa County Gilbert 85234 Downtown Gilbert

36 E Vaughn Ave Unit 10, Gilbert, AZ

This home is located at 36 E Vaughn Ave Unit 10, Gilbert, AZ 85234 since 27 February 2016 and is currently estimated at $1,166,048, approximately $254 per square foot. This property was built in 2005. 36 E Vaughn Ave Unit 10 is a home located in Maricopa County with nearby schools including Burk Elementary School, Mesquite Junior High School, and Gilbert Arts Academy.

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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