NOT LISTED FOR SALE
83 Beds
-- Baths
3,570 Sq Ft
1974 Built

Sale Details

Date Sold: November 27, 2012

Last sale price $880,000 $246 Per Sq Ft

24 Days on Market

Highlights

  • Community Playground
  • Community Barbecue Grill
  • Central Air
  • Phoenix Coding Academy Rated A
  • Ceramic Tile Flooring
  • Heat Pump System

About This Home

As of November 2012

ALL OFFERS SUBJECT TO BANK APPROVAL. Contact Listing Agent for Property tour. Built in 1974, Villa Martel consists of 2 two-story and 1 single-story block-constructed buildings. The 37 unit property has 2 1-bed/1-bath units, 24 2-bed/1-bath units and 11 3-bed/2-bath units. The property is individually metered for electricity with flat roofs and copper plumbing. Amenities include large courtyards, tenant storage units, a laundry room and covered parking.

Last Agent to Sell the Property

Scott Trevey

REI Marketing License #SA539099000 Listed on: 10/16/2012

Last Buyer's Agent

Scott Trevey

REI Marketing License #SA539099000 Listed on: 10/16/2012

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Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $12,823

Year Built

  • Built in 1974

Home Design

  • Tile Roof
  • Built-Up Roof
  • Foam Roof
  • Block Exterior

Flooring

  • Carpet
  • Ceramic Tile
  • Vinyl

Parking

  • 2 Open Parking Spaces
  • 64 Parking Spaces
  • 62 Covered Spaces

Lot Details

  • Additional Parcels

Utilities

  • Central Air
  • Heat Pump System

Listing and Financial Details

  • Tenant pays for electricity, cable TV
  • The owner pays for trash collection, water, sewer
  • Tax Lot 1
  • Assessor Parcel Number 120-14-025-B

Community Details

Overview

  • 5 Buildings
  • 37 Units
  • Building Dimensions are irregular

Amenities

  • Community Barbecue Grill

Recreation

  • Community Playground

Building Details

  • Gross Income $222,090
  • Net Operating Income $106,374

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$12,823

Year Built

Built in 1974

Listing Details

  • Cross Street: 36th Street
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: M-F
  • Number Of Buildings: 5
  • Ownership: Fee Simple
  • Year Built: 1974
  • Tax Year: 2012
  • Road Surface Type: Asphalt
  • Professional Management Expense: 10000.0
  • Tax Parcel Letter: B
  • 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: Tile, Built-Up, Foam
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 62.0
  • Parking Features: >1 Space Per Unit
  • Attached Garage: No
  • Open Parking Spaces: 2.0
  • Total Parking Spaces: 64.0
  • General Property Description:Covered Parking Spcs: 62.0
  • General Property Description:Uncvrd Parking Spcs: 2.0
  • General Property Description:Total Parking Spcs: 64.0
  • Parking:_greater_1 Space Per Unit: Yes

Utilities

  • Electric: SRP
  • Cooling: Central A/C, Heat Pump, Electric
  • Heating: Heat Pump, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes
  • Heating:Heat Pump2: Yes

Condo/Co-op/Association

  • Community Features: Barbecue, Play Area, No Pool

Association/Amenities

  • Exterior Amenities:Landscape Wtr System: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Unfurnished: Yes
  • Community Amenities:Barbecue: Yes
  • Community Amenities:Play Area: Yes

Fee Information

  • Annual Fuel Expense: 1200.0
  • Trash Expense: 6500.0
  • Annual Water Sewer Expense: 28000.0

Schools

  • Junior High Dist: Phoenix Union High School District

Lot Info

  • Lot Size: irregular
  • Additional Parcels: Yes
  • Parcel #: 120-14-025-B

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Tenant Pays: Electricity, Cable TV
  • Number Of Units Total: 37
  • Electric Expense: 3200.0
  • Annual Gross Income: 222089.7
  • Insurance Expense: 6200.0
  • Maintenance Expense: 34951.0
  • Property Net Operating Income: 106374.0
  • Vacancy Allowance Rate: 0.15

Tax Info

  • Tax Annual Amount: 12823.0
  • Tax Book Number: 120.00
  • Tax Lot: 1

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

Closed on
May 5, 2015
Sold by
South 50 Casitas Lp
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,245,000
Outstanding Balance
$930,598
Interest Rate
3.67%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 15, 2013
Sold by
Herfst Gregory
Bought by
Herfst Gregory

Purchase Details

Listed on
Oct 16, 2012
Closed on
Dec 26, 2012
Sold by
Schulz Edward F and Buckley Judy M
Bought by
South 50 Casitas Lp
Seller's Agent
Scott Trevey
REI Marketing
Buyer's Agent
Scott Trevey
REI Marketing
List Price
$1,335,000
Sold Price
$880,000
Premium/Discount to List
-$455,000
-34.08%

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
3.27%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 18, 2004
Sold by
Shaffer Steven
Bought by
Schulz Edward F and Buckley Judy M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,556,000
Interest Rate
5.5%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 13, 2003
Sold by
Danneberg Florence W
Bought by
Shaffer Steven S

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$750,000
Interest Rate
5.89%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 23, 1997
Sold by
Villa Martel Ltd
Bought by
Danneberg Florence W

Purchase Details

Closed on
May 12, 1994
Sold by
Nelson David M
Bought by
Villa Martel Ltd
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
$2,350,000 Commonwealth Land Title Insu
Herfst Gregory -- None Available
South 50 Casitas Lp $880,000 American Title Service Agenc
Schulz Edward F $2,075,000 Lawyers Title Ins
Shaffer Steven S $1,250,000 Lawyers Title Of Arizona Inc
Danneberg Florence W $1,017,500 First American Title
Villa Martel Ltd $800,000 --
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 $1,245,000
Previous Owner South 50 Casitas Lp $300,000
Previous Owner Schulz Edward F $1,556,000
Previous Owner Shaffer Steven S $750,000
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
11/27/2012 11/27/12 Sold $880,000 -34.1% $246 / Sq Ft
11/09/2012 11/09/12 Pending -- -- --
10/16/2012 10/16/12 For Sale $1,335,000 -- $374 / Sq Ft
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 $18,218 $134,877
2024 $17,332 $128,455
2023 $17,332 $529,880 $76,160 $453,720
2022 $16,652 $362,130 $52,050 $310,080
2021 $17,058 $453,330 $65,160 $388,170
2020 $16,643 $357,170 $51,340 $305,830
2019 $16,525 $341,280 $49,050 $292,230
2018 $16,186 $201,090 $28,900 $172,190
2017 $15,560 $176,190 $25,320 $150,870
2016 $14,958 $160,680 $23,090 $137,590
2015 $13,915 $126,200 $18,140 $108,060
Source: Public Records

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 4835668

Arizona Regional Multiple Listing Service (ARMLS)
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