NOT LISTED FOR SALE

Estimated Value: $1,673,000 - $3,170,000

-- Bed
-- Bath
1,210 Sq Ft
$2,089/Sq Ft Est. Value

Last Sold November 16, 2015

Last sale price $1,386,500 $1,146 Per Sq Ft

Est. 82% increase in value since last sale

Current estimated payment $13,931/month

47 Days on Market

Highlights

  • Cooling Available
  • Ceiling Fan
  • Individual Controls for Heating
  • Phoenix Coding Academy Rated A
  • Concrete Flooring
  • 4-minute walk to Monterey Park

About This Home

As of November 2015

MODE By Alchemy was fully remodeled and repositioned in 2014. Interior property upgrades include in-suite laundry, polished concrete flooring, sandblasted block walls, vaulted ceilings with exposed rafters, new contemporary cabinetry, custom metal backsplashes, stainless steel appliances, porcelain tile shower surrounds with new fixtures, premium lighting, and low-flow toilets. The revamped exterior features private patios, contemporary metal address, composite wood access gates with keyed entry, resurfaced asphalt parking lot, combination grass/xeriscape landscaping and covered parking. The property is located in Midtown Phoenix, inside the Central Arts District, less than 1 mile north of Interstate 10 and approximately 1.5 miles west of State Route 51 (Piestewa Freeway).

Last Agent to Sell the Property

Natan Jacobs

Vestis Group License #BR525576000 Listed on: 08/12/2015

Last Buyer's Agent

Non-MLS Agent

Non-MLS Office

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,860

Year Built

  • Built in 1958

Lot Details

  • 0.4

Home Design

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

Interior Spaces

  • Ceiling Fan
  • Concrete Flooring

Parking

  • 2 Open Parking Spaces
  • 12 Parking Spaces
  • 10 Covered Spaces
  • Common or Shared Parking
  • Paved Parking
  • On-Street Parking

Utilities

  • Cooling Available
  • Individual Controls for Heating

Listing and Financial Details

  • Tenant pays for gas, electricity, cable TV
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 1
  • Assessor Parcel Number 118-53-031

Community Details

Overview

  • 5 Buildings
  • 10 Units
  • Building Dimensions are 130x118
  • Goettl Place Subdivision

Building Details

  • Operating Expense $34,647
  • Gross Income $118,234
  • Net Operating Income $83,199

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,860

Year Built

Built in 1958

Lot Details

0

Listing Details

  • Cross Street: Central Avenue / McDowell Road
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R-4, Phoenix
  • Number Of Buildings: 5
  • Ownership: Fee Simple
  • Year Built: 1958
  • Tax Year: 2014
  • Directions: From Central Avenue & McDowell Road, Head East to 3rd Street, Turn Left, Head North to Alvarado Road, Turn Right, Head East to Subject Property on the Left Hand Side.
  • Road Surface Type: Asphalt
  • Professional Management Expense: 8179.0
  • Subdivision Name: GOETTL PLACE
  • Cooling:Ceiling Fan(s): Yes
  • Special Features: VirtualTour
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Concrete
  • Appliances: F/S Oven/Range, Microwave, Washer/Dryer
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Microwave2: Yes
  • Appliances Included:WasherDryer: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Dishwasher2: Yes
  • Appliances Included:Disposal2: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Brick Veneer, Painted, Block, Frame - Wood, Slump Block
  • Roof: Composition
  • Construction:Frame - Wood: Yes
  • Construction:Block: Yes
  • Construction:Slump Block: Yes

Garage/Parking

  • Total Covered Spaces: 10.0
  • Parking Features: Paved Parking, >1 Space Per Unit, Street Parking, Common
  • Attached Garage: No
  • Open Parking Spaces: 2.0
  • Total Parking Spaces: 12.0
  • General Property Description:Covered Parking Spcs: 10.0
  • General Property Description:Uncvrd Parking Spcs: 2.0
  • General Property Description:Total Parking Spcs: 12.0
  • Parking:Carport: Yes
  • Parking:Street Parking: Yes
  • Parking:_greater_1 Space Per Unit: Yes
  • Parking:Paved Parking: Yes

Utilities

  • Electric: APS, 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: No Pool

Association/Amenities

  • Exterior Amenities:Landscape Wtr System: Yes
  • Exterior Amenities:Green Landscaping: Yes
  • Exterior Amenities:Fenced3: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Exterior Amenities:PatioBalcony: Yes
  • Exterior Amenities:Security Light(s)3: Yes
  • Interior Amenities:Mini Blinds: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Unfurnished: Yes

Schools

  • Junior High Dist: Phoenix Union High School District

Lot Info

  • Lot Size: 130x118
  • Additional Parcels: No
  • Parcel #: 118-53-031

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Gas, Electricity, Cable TV
  • Number Of Units Total: 10
  • Annual Gross Income: 118233.6
  • Insurance Expense: 3000.0
  • Maintenance Expense: 3000.0
  • Property Net Operating Income: 83199.0
  • Annual Operating Expense: 34647.0
  • Vacancy Allowance Rate: 0.04

Tax Info

  • Tax Annual Amount: 2860.0
  • Tax Book Number: 118.00
  • Tax Lot: 1

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Nov 22, 2017
Sold by
Adams Darrell Jack
Bought by
Nicolan Capital 3 Llc
Current Estimated Value
$2,528,017

Purchase Details

Listed on
Aug 12, 2015
Closed on
Nov 13, 2015
Sold by
376 E Alvarado Llc
Bought by
Adams Darrell Jack
Seller's Agent
Natan Jacobs
Vestis Group
Buyer's Agent
Non-MLS Agent
Non-MLS Office
List Price
$1,386,500
Sold Price
$1,386,500

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
6.58%
Original Mortgage
$972,000
Interest Rate
3.65%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 27, 2014
Sold by
Erikson Rolf B
Bought by
376 E Alvarado Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$484,292
Interest Rate
4.1%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 13, 2004
Sold by
Shamy Lyndon and Shamy Kimberly
Bought by
Erikson Rolf B

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$204,000
Interest Rate
5.57%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 12, 1999
Sold by
Olsen Roxie L
Bought by
Shamy Lyndon E and Shamy Kimberly A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$100,000
Interest Rate
6.78%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 22, 1996
Sold by
Wendland Helen E
Bought by
Olsen Roxie L and The Roxie L Olsen 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
$146,500
Interest Rate
7%
Mortgage Type
Seller Take Back
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
Nicolan Capital 3 Llc -- None Available
Adams Darrell Jack $1,386,500 First American Title Ins Co
376 E Alvarado Llc $425,000 Chicago Title Agency Inc
Erikson Rolf B $396,000 Security Title Agency
Shamy Lyndon E $315,000 Chicago Title Insurance Co
Olsen Roxie L $229,000 First American Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Nicolan Capital 3 Llc $940,000
Closed Adams Darrell Jack $944,749
Previous Owner Adams Darrell Jack $972,000
Previous Owner 376 E Alvarado Llc $484,292
Previous Owner Erikson Rolf B $204,000
Previous Owner Campbell Bernice $34,000
Previous Owner Shamy Lyndon E $100,000
Previous Owner Olsen Roxie L $146,500
Closed Shamy Lyndon E $6,977
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/16/2015 11/16/15 Sold $1,386,500 0.0% $1,146 / Sq Ft
09/28/2015 09/28/15 Pending -- -- --
08/12/2015 08/12/15 For Sale $1,386,500 -- $1,146 / 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 $6,964 $50,661 -- --
2024 $6,899 $48,248 -- --
2023 $6,899 $135,610 $27,120 $108,490
2022 $6,660 $88,770 $17,750 $71,020
2021 $6,611 $75,920 $15,180 $60,740
2020 $6,686 $76,010 $15,200 $60,810
2019 $6,674 $62,980 $12,590 $50,390
2018 $6,564 $49,320 $9,860 $39,460
2017 $3,057 $35,510 $7,100 $28,410
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5319919

Arizona Regional Multiple Listing Service (ARMLS)

APN: 118-53-031A