Seller's Agent in 2024
Linda Gerchick
Gerchick Real Estate
(602) 688-9279
17 in this area
121 Total Sales
3636 E Verde Ln Phoenix, AZ 85018
Camelback East Village Neighborhood
--
Bed
--
Bath
--
Sq Ft
1955
Built
Highlights
- Cooling Available
- Ceramic Tile Flooring
- Heat Pump System
- Phoenix Coding Academy Rated A
- Ceiling Fan
About This Home
As of December 2024SELLER CARRYBACK! 3636 E Verde Phoenix is a charming and well-maintained 9-unit apartment building located in the sought-after neighborhood of Arcadia Lite in Phoenix, Arizona. This property offers a fantastic opportunity for both investors and tenants alike with its recent renovations and appealing amenities.
One of the most significant updates to the property is the installation of new pipes, which ensures a reliable plumbing system for all the units. Additionally, a newer roof has been put in place, providing enhanced protection against the elements and reducing maintenance costs for the foreseeable future.
The building's appeal is further enhanced by the inclusion of dual-pane windows in each unit. These windows not only improve energy efficiency but also minimize noise pollution, These windows not only improve energy efficiency but also minimize noise pollution, allowing tenants to enjoy a peaceful and comfortable living experience.
Moreover, with the electric masts being raised, residents can benefit from a more reliable electrical supply, ensuring uninterrupted power to all units.
The exterior of the property has not been overlooked in the renovations. New landscaping has been added, creating an inviting and visually appealing environment for the residents. Tenants can take advantage of well-maintained space to relax, socialize, or simply enjoy the outdoors.
All nine units are currently fully occupied, indicating a strong demand for housing in this desirable location. This presents an excellent opportunity for the property owner to increase rental rates gradually, contributing to enhanced profitability and return on investment.
For the convenience of the residents, the property boasts an on-site laundry room, making laundry chores a breeze. This amenity is highly valued by tenants, making it an attractive feature for prospective renters as well.
Moreover, for additional income potential, the property offers a garage rental option. Tenants have the option to rent garages for extra storage space or to park their vehicles securely, providing an added incentive to choose this property as their home.
Arcadia Lite is a popular neighborhood known for its unique blend of urban convenience and suburban charm. Residents of this area enjoy easy access to a variety of dining, shopping, and entertainment options, making it an enticing location for potential tenants.
In conclusion, 3636 E Verde Phoenix is a well-maintained, fully occupied 9-unit apartment building with numerous attractive features, including new pipes, a newer roof, dual-pane windows, raised electric masts, new landscaping, on-site laundry facilities, and the option for garage rentals. Situated in the desirable Arcadia Lite neighborhood, this property offers excellent potential for rental income growth, making it an appealing investment opportunity in the Phoenix real estate market.
Buyer to verify all facts and figures.
Last Agent to Sell the Property
Gerchick Real Estate License #BR114848000 Listed on: 08/18/2023
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,622
Year Built
- Built in 1955
Home Design
- Wood Frame Construction
- Composition Roof
- Block Exterior
- Stucco
Interior Spaces
- Ceiling Fan
Flooring
- Carpet
- Ceramic Tile
Parking
- 4 Open Parking Spaces
- 12 Parking Spaces
- 8 Covered Spaces
- Common or Shared Parking
- Free Parking
- On-Street Parking
Utilities
- Cooling Available
- Heat Pump System
- Individual Controls for Heating
- Master Water Meter
Listing and Financial Details
- Tenant pays for electricity, cable TV
- The owner pays for gas, trash collection, water, sewer, landscaping
- Tax Lot 8
- Assessor Parcel Number 127-22-072-A
Community Details
Overview
- 3 Buildings
- 9 Units
- Building Dimensions are irr
- Oakshire Subdivision
Building Details
- Operating Expense $20,863
- Gross Income $156,044
- Net Operating Income $138,438
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/06/2024 12/06/24 | Sold | $1,800,000 | -2.7% | -- |
| 11/12/2024 11/12/24 | Pending | -- | -- | -- |
| 10/15/2024 10/15/24 | Price Changed | $1,850,000 | -7.3% | -- |
| 07/08/2024 07/08/24 | Price Changed | $1,995,000 | -9.1% | -- |
| 06/22/2024 06/22/24 | For Sale | $2,195,000 | 0.0% | -- |
| 06/14/2024 06/14/24 | Pending | -- | -- | -- |
| 06/10/2024 06/10/24 | For Sale | $2,195,000 | 0.0% | -- |
| 05/30/2024 05/30/24 | Pending | -- | -- | -- |
| 04/11/2024 04/11/24 | Price Changed | $2,195,000 | 0.0% | -- |
| 04/11/2024 04/11/24 | For Sale | $2,195,000 | -12.0% | -- |
| 04/03/2024 04/03/24 | Pending | -- | -- | -- |
| 04/02/2024 04/02/24 | For Sale | $2,495,000 | 0.0% | -- |
| 03/31/2024 03/31/24 | Price Changed | $2,495,000 | 0.0% | -- |
| 03/30/2024 03/30/24 | Pending | -- | -- | -- |
| 03/19/2024 03/19/24 | Pending | -- | -- | -- |
| 12/10/2023 12/10/23 | Price Changed | $2,495,000 | -12.5% | -- |
| 11/02/2023 11/02/23 | Price Changed | $2,850,000 | -3.4% | -- |
| 10/05/2023 10/05/23 | Price Changed | $2,950,000 | -15.6% | -- |
| 08/18/2023 08/18/23 | For Sale | $3,495,000 | -- | -- |
Source: Arizona Regional Multiple Listing Service (ARMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
-
Linda Gerchick
Map
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6591677
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.
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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