NOT LISTED FOR SALE

38 E Elliot Rd Gilbert, AZ 85234

Downtown Gilbert Neighborhood

Estimated Value: $536,000 - $618,000

2 Beds
-- Bath
1,540 Sq Ft
$384/Sq Ft Est. Value

Last Sold October 17, 2023

Last sale price $595,000 $386 Per Sq Ft

Est. 1% decrease in value since last sale

Current estimated payment $3,352/month

186 Days on Market

About This Home

As of October 2023

Heritage District Downtown Gilbert- GOLD MINE Investor Opportunity. 7.5 CAP RATE RENTURN PROFORMA. Month to month tenants. By App Only showings during diligence period. DRIVE BY ONLY. NO SELLER FINANCING

Last Agent to Sell the Property

Yamile Hirsh-de Ruiter

Cluff Real Estate LLC License #SA633919000 Listed on: 03/25/2023

Last Buyer's Agent

John Kepple

Capital REI License #BR562201000

Capital REI

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $602

Year Built

  • Built in 1960

Lot Details

  • 10,019

Home Design

  • Composition Roof
  • Block Exterior

Parking

  • 4 Parking Spaces
  • 2 Covered Spaces
  • Common or Shared Parking

Utilities

  • Cooling Available

Listing and Financial Details

  • Tenant pays for trash collection, electricity, water
  • Tax Lot 3
  • Assessor Parcel Number 304-11-184

Community Details

Overview

  • 2 Units
  • Building Dimensions are 25000
  • Hazelwood Terrace Subdivision

Building Details

  • Operating Expense $2,902
  • Gross Income $48,000
  • Net Operating Income $46,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$602

Year Built

Built in 1960

Lot Details

0

Listing Details

  • Cross Street: Gilbert and Elliot
  • Legal Info Range: 6E
  • Property Type: Multiple Dwellings
  • Zoning: duplex
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1960
  • Tax Year: 2022
  • Directions: Gilbert to Elliot, turn west to property
  • Road Surface Type: Asphalt
  • Subdivision Name: HAZELWOOD TERRACE
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances Included:None38: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Painted, Block
  • Roof: Composition
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 2.0
  • Parking Features: Other (See Remarks), Common
  • Attached Garage: No
  • Open Parking Spaces: 2.0
  • Total Parking Spaces: 4.0
  • General Property Description:Covered Parking Spcs: 2.0
  • General Property Description:Uncvrd Parking Spcs: 2.0
  • General Property Description:Total Parking Spcs: 4.0
  • Parking:Carport: Yes
  • Parking:Other (See Remarks)24: Yes

Utilities

  • Electric: Other (See Remarks)
  • Cooling Y N: Yes
  • Water Source: City Franchise
  • Heating:Individual: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Community Amenities:No Pool: Yes
  • Interior Amenities:Unfurnished: Yes

Schools

  • Junior High Dist: Gilbert Unified District

Lot Info

  • Lot Size: 25000
  • Additional Parcels: No
  • Parcel #: 304-11-184

Multi Family

  • Owner Pays: Other
  • Tenant Pays: Trash Collection, Electricity, Water
  • Number Of Units Total: 2
  • Annual Gross Income: 48000.0
  • Insurance Expense: 800.0
  • Maintenance Expense: 1500.0
  • Property Net Operating Income: 46000.0
  • Annual Operating Expense: 2902.0

Tax Info

  • Tax Annual Amount: 602.0
  • Tax Book Number: 304.00
  • Tax Lot: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 25, 2023
Closed on
Oct 13, 2023
Sold by
Rental Professionals Llc
Bought by
Promensis Ny Llc
Seller's Agent
Yamile Hirsh-de Ruiter
Cluff Real Estate LLC
Buyer's Agent
John Kepple
Capital REI
List Price
$628,000
Sold Price
$595,000
Premium/Discount to List
-$33,000
-5.25%
Total Days on Market
186
Views
197
Current Estimated Value
$590,815

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$4,185
Avg. Annual Appreciation
-0.42%

Purchase Details

Closed on
Jul 19, 2011
Sold by
Fannie Mae
Bought by
The Rentalprofessionals Llc

Purchase Details

Closed on
Feb 9, 2011
Sold by
Orozco Gerardo
Bought by
Federal National Mortgage Association

Purchase Details

Closed on
Aug 18, 2010
Sold by
Orozco Gerudo
Bought by
Ramirez Loerna I

Purchase Details

Closed on
Jun 15, 2003
Sold by
Orozco Gerardo and Ramirez Lorena I
Bought by
Orozco Gerardo

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$75,000
Interest Rate
5.37%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Mar 17, 1998
Sold by
Larson Gregory R
Bought by
Orozco Gerardo

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$64,724
Interest Rate
7.15%
Mortgage Type
FHA
Source: Public Records

Range of Values:

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Average Value
Not Available
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
Promensis Ny Llc $595,000 First American Title Insurance
The Rentalprofessionals Llc $47,000 North American Title Company
Federal National Mortgage Association $68,345 None Available
Ramirez Loerna I -- Accommodation
Orozco Gerardo -- Transnation Title Ins Co
Orozco Gerardo $65,000 Fidelity Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Orozco Gerardo $55,000
Previous Owner Orozco Gerardo $25,000
Previous Owner Orozco Gerardo $75,000
Previous Owner Orozco Gerardo $64,724
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/17/2023 10/17/23 Sold $595,000 -5.3% $386 / Sq Ft
09/21/2023 09/21/23 For Sale $628,000 +5.5% $408 / Sq Ft
09/16/2023 09/16/23 Off Market $595,000 -- --
03/25/2023 03/25/23 For Sale $628,000 -- $408 / 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 $616 $7,047 -- --
2024 $619 $6,711 -- --
2023 $619 $34,900 $6,980 $27,920
2022 $602 $23,170 $4,630 $18,540
2021 $623 $21,510 $4,300 $17,210
2020 $614 $21,330 $4,260 $17,070
2019 $570 $11,920 $2,380 $9,540
2018 $555 $9,180 $1,830 $7,350
2017 $536 $7,330 $1,460 $5,870
2016 $550 $6,300 $1,260 $5,040
2015 $501 $5,600 $1,120 $4,480
Source: Public Records

Agents Affiliated with this Home

  • Yamile Hirsh-de Ruiter

    Seller's Agent in 2023

    Yamile Hirsh-de Ruiter

    Cluff Real Estate LLC

    (480) 567-2121

    3 in this area

    36 Total Sales

    Yamile Hirsh-de Ruiter
    Section Image
  • John Kepple

    Buyer's Agent in 2023

    John Kepple

    Capital REI

    (309) 282-1554

    1 in this area

    25 Total Sales

    John Kepple
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6535868

Arizona Regional Multiple Listing Service (ARMLS)

APN: 304-11-184

Arizona Maricopa County Gilbert 85234 Downtown Gilbert

38 E Elliot Rd, Gilbert, AZ

This home is located at 38 E Elliot Rd, Gilbert, AZ 85234 since 25 March 2023 and is currently estimated at $590,815, approximately $383 per square foot. This property was built in 1960. 38 E Elliot Rd 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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