NOT LISTED FOR SALE

Estimated Value: $230,000 - $352,000

Studio
2 Baths
925 Sq Ft
$317/Sq Ft Est. Value

Last Sold March 30, 2021

Last sale price $3,100,000 $3,351 Per Sq Ft

Current estimated payment $2,530/month

60 Days on Market

Highlights

  • Heated Community Pool
  • Cooling Available
  • Heat Pump System
  • Phoenix Coding Academy Rated A

About This Home

As of March 2021

Las Casitas De Earll is situated within Camelback East Village, in the highly sought-after 85018 zip code. It is minutes from all the shopping, dining, and entertainment options Biltmore Fashion Park has to offer.
This garden-style property is a light value-add opportunity through continued interior and exterior renovations. Featuring all large 2 bed / 2 bath units with in-suite washer & dryer. The property boasts a community swimming pool and ample covered parking for residents. Based on its positioning in the competitive landscape and the area's ongoing redevelopment efforts, this property is a perfect opportunity for an investor to create an ideal living situation in close proximity to the beautiful Arcadia Lite district.

Last Agent to Sell the Property

Dallin Hammond

ABI Multifamily License #SA677560000 Listed on: 12/04/2020

Co-Listed By

Mitchell Drake

ABI Multifamily License #SA675761000

Last Buyer's Agent

Carson Griesemer

ABI Multifamily License #SA686764000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $10,969

Year Built

  • Built in 1982

Lot Details

  • Additional Parcels

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Stucco

Parking

  • 30 Parking Spaces
  • 30 Covered Spaces
  • Common or Shared Parking

Schools

  • Creighton Elementary School
  • Phoenix Union Cyber High School

Utilities

  • Cooling Available
  • Heat Pump System

Listing and Financial Details

  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 1
  • Assessor Parcel Number 127-20-124

Community Details

Overview

  • 2 Buildings
  • 15 Units
  • Building Dimensions are 13875
  • Las Casitas De Earl Condominium Apts Subdivision

Recreation

  • Heated Community Pool

Building Details

  • Operating Expense $10,969
  • Gross Income $264,960
  • Net Operating Income $195,532

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$10,969

Year Built

Built in 1982

Lot Details

0

Listing Details

  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 2
  • Year Built: 1982
  • Tax Year: 2020
  • Road Surface Type: Asphalt
  • Co List Office Mls Id: abim01
  • Co List Office Phone: 602-714-1400
  • Subdivision Name: LAS CASITAS DE EARL CONDOMINIUM APTS
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances Included:Refrigerator: Yes
  • Appliances Included:Dishwasher: Yes
  • Appliances Included:Disposal: Yes
  • Appliances Included:WasherDryer: Yes
  • Appliances Included:BI OvenRange: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Stucco, Frame - Wood
  • Roof: Composition
  • Construction:Frame - Wood: Yes

Garage/Parking

  • Total Covered Spaces: 30.0
  • Parking Features: Common
  • Attached Garage: No
  • Total Parking Spaces: 30.0
  • General Property Description:Covered Parking Spcs: 30.0
  • General Property Description:Total Parking Spcs: 30.0
  • Parking:Carport: Yes
  • Parking:Street Parking: Yes
  • Parking:_greater_1 Space Per Unit: Yes

Utilities

  • Electric: Individual Meter
  • Cooling: Individual
  • Heating: Heat Pump
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Heat Pump2: Yes

Condo/Co-op/Association

  • Community Features: Pool

Association/Amenities

  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Community Amenities:Pool2: Yes
  • Exterior Amenities:Desert Landscaping: Yes

Schools

  • Elementary School: Creighton Elementary School
  • High School: Phoenix Union Cyber High School

Lot Info

  • Lot Size: 13875
  • Additional Parcels: Yes
  • Parcel #: 127-20-124

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Number Of Units Total: 15
  • Annual Gross Income: 264959.75
  • Property Net Operating Income: 195532.0
  • Annual Operating Expense: 10969.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 10969.0
  • Tax Book Number: 127.00
  • Tax Lot: 1

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 4, 2020
Closed on
Apr 17, 2021
Sold by
Adler Family Trust and Lowrey Bart
Bought by
Shakin Mendelsohn 2004 Trust and Shakin
Seller's Agent
Dallin Hammond
ABI Multifamily
Buyer's Agent
Carson Griesemer
ABI Multifamily
List Price
$3,300,000
Sold Price
$3,100,000
Premium/Discount to List
-$200,000
-6.06%
Current Estimated Value
$471,045

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$2,628,955
Avg. Annual Appreciation
-38.90%
Original Mortgage
$2,000,000
Outstanding Balance
$1,805,758
Interest Rate
3%
Mortgage Type
Construction
Estimated Equity
-$1,512,939

Purchase Details

Closed on
May 21, 2009
Sold by
Adler Properties Llc
Bought by
Adler David L and Adler Linda J

Purchase Details

Closed on
Jan 8, 2005
Sold by
Adler David L and Adler Linda J
Bought by
Adler Properties Llc

Purchase Details

Closed on
Nov 6, 2003
Sold by
Mair Douglas W and Mair Joann
Bought by
Adler David L and Adler Linda J

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$471,000
Interest Rate
5.72%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Jun 16, 1998
Sold by
Pflumm Dan R and Pflumm Yvonne A
Bought by
Pflumm Dan and Pflumm Yvonne
Source: Public Records
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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
Shakin Mendelsohn 2004 Trust $3,100,000 Commonwealth Land Title
Adler David L -- None Available
Adler Properties Llc -- --
Adler David L $725,000 Chicago Title Insurance Co
Pflumm Dan -- Lawyers Title Of Arizona Inc
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Shakin Mendelsohn 2004 Trust $2,000,000
Previous Owner Adler David L $471,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/30/2021 03/30/21 Sold $3,100,000 -6.1% $3,351 / Sq Ft
02/02/2021 02/02/21 Pending -- -- --
12/04/2020 12/04/20 For Sale $3,300,000 0.0% $3,568 / Sq Ft
04/05/2013 04/05/13 Rented $649 0.0% --
04/05/2013 04/05/13 Under Contract -- -- --
08/27/2012 08/27/12 For Rent $649 -- --
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 $800 $5,926 -- --
2024 $762 $5,644 -- --
2023 $762 $18,470 $3,690 $14,780
2022 $732 $16,400 $3,280 $13,120
2021 $750 $14,860 $2,970 $11,890
2020 $731 $13,110 $2,620 $10,490
2019 $726 $9,300 $1,860 $7,440
2018 $711 $7,000 $1,400 $5,600
2017 $684 $5,850 $1,170 $4,680
2016 $657 $5,360 $1,070 $4,290
2015 $611 $4,710 $940 $3,770
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6167898

Arizona Regional Multiple Listing Service (ARMLS)

APN: 127-20-124