NOT LISTED FOR SALE
2 Beds
2 Baths
900 Sq Ft
0.69 Acres

Last Sold December 11, 2015

Last sale price $895,000 $994 Per Sq Ft

19 Days on Market

Highlights

  • Heated Community Pool
  • Cooling Available
  • Ceiling Fan
  • Phoenix Coding Academy Rated A
  • Ceramic Tile Flooring
  • Heat Pump System

About This Home

As of December 2015

Tenants are not aware of the sale so please no questions. Also, the property is 100% occupied so unit tours will be given upon contract acceptance.

The property has been extensively improved by the current ownership completing renovations on 10 of the 11 units. The unit improvement program included painting the units, painting the cabinets, installing new appliances, and replacing the primary lighting fixtures and ceiling fans. In some cases new tile or carpet flooring has been installed. The pool has also been restored to full working order and has obtained permits which had previously lapsed in 2006. The pool, pool deck, and pool fencing has all been brought up to current code with the City of Phoenix.

Last Agent to Sell the Property

Dan Harach

Allegiant Properties License #SA575941000 Listed on: 09/20/2015

Last Buyer's Agent

Chad Barber

Fenix CRE License #BR646108000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,288

Year Built

  • Built in 1986

Lot Details

  • 0.69

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Stucco

Interior Spaces

  • Ceiling Fan

Flooring

  • Carpet
  • Ceramic Tile
  • Vinyl

Parking

  • 9 Open Parking Spaces
  • 22 Parking Spaces
  • 13 Covered Spaces
  • Common or Shared Parking
  • Paved Parking

Utilities

  • Cooling Available
  • Heat Pump System
  • Master Water Meter

Listing and Financial Details

  • Tenant pays for electricity
  • The owner pays for trash collection, water, sewer, landscaping, pool/spa maintenance
  • Legal Lot and Block 15 / 1
  • Assessor Parcel Number 163-32-015

Community Details

Overview

  • 2 Buildings
  • 11 Units
  • Building Dimensions are 0.69
  • East Morningside Subdivision

Recreation

  • Heated Community Pool

Building Details

  • Gross Income $97,663
  • Net Operating Income $56,868

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,288

Year Built

Built in 1986

Lot Details

0

Listing Details

  • Cross Street: Devonshire/22nd Street
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R3
  • Number Of Buildings: 2
  • Ownership: Fee Simple
  • Year Built: 1986
  • Tax Year: 2015
  • Road Surface Type: Asphalt
  • Professional Management Expense: 5187.0
  • Subdivision Name: EAST MORNINGSIDE
  • Garage Yn: Yes
  • Cooling:Ceiling Fan(s): Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Ceramic Tile, Vinyl
  • Appliances: BI Oven/Range, Compactor, Microwave
  • Appliances Included:Microwave2: Yes
  • Appliances Included:BI OvenRange: Yes
  • Appliances Included:Compactor2: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Dishwasher2: Yes
  • Appliances Included:Disposal2: Yes

Exterior Features

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

Garage/Parking

  • Total Covered Spaces: 13.0
  • Parking Features: Paved Parking, Common
  • Attached Garage: No
  • Open Parking Spaces: 9.0
  • Total Parking Spaces: 22.0
  • General Property Description:Covered Parking Spcs: 13.0
  • General Property Description:Uncvrd Parking Spcs: 9.0
  • General Property Description:Total Parking Spcs: 22.0
  • Garage Details: Yes
  • Parking:Carport: Yes
  • Parking:Paved Parking: Yes

Utilities

  • Electric: APS
  • Cooling: Individual, Heat Pump, Ceiling Fan(s)
  • Heating: Heat Pump, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Master Meter
  • Heating:Electric: Yes
  • Heating:Heat Pump2: Yes

Condo/Co-op/Association

  • Community Features: Pool

Association/Amenities

  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Interior Amenities:Mini Blinds: Yes
  • Community Amenities:Pool2: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Unfurnished: Yes
  • Interior Amenities:Vertical Blinds2: Yes

Schools

  • Junior High Dist: Phoenix Union High School District

Lot Info

  • Lot Size: 0.69
  • Additional Parcels: No
  • Parcel #: 163-32-015

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping, Pool/Spa Maintenance
  • Tenant Pays: Electricity
  • Number Of Units Total: 11
  • Electric Expense: 11811.0
  • Annual Gross Income: 97663.18
  • Insurance Expense: 3579.0
  • Maintenance Expense: 5500.0
  • Property Net Operating Income: 56868.0
  • Vacancy Allowance Rate: 0.06

Tax Info

  • Tax Annual Amount: 7288.0
  • Tax Block: 1
  • Tax Book Number: 163.00
  • Tax Lot: 15
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
12/11/2015 12/11/15 Sold $895,000 -5.3% $994 / Sq Ft
10/09/2015 10/09/15 Pending -- -- --
09/20/2015 09/20/15 For Sale $945,000 +53.7% $1,050 / Sq Ft
01/15/2014 01/15/14 Sold $615,000 -5.4% $683 / Sq Ft View Prior Sale
11/05/2013 11/05/13 Pending -- -- --
09/15/2013 09/15/13 For Sale $650,000 -- $722 / 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 $10,035 $75,225 -- --
2024 $9,302 $71,643 -- --
2023 $9,302 $353,950 $70,790 $283,160
2022 $9,038 $257,900 $51,580 $206,320
2021 $9,116 $216,070 $43,210 $172,860
2020 $9,072 $182,700 $36,540 $146,160
2019 $8,760 $126,920 $25,380 $101,540
2018 $8,562 $100,060 $20,010 $80,050
2017 $8,249 $93,250 $18,650 $74,600
2016 $7,877 $78,110 $15,620 $62,490
2015 $7,288 $74,200 $14,840 $59,360
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5338860

Arizona Regional Multiple Listing Service (ARMLS)