NOT LISTED FOR SALE

4232 N 7th Ave Phoenix, AZ 85013

Uptown Phoenix Neighborhood

Estimated Value: $521,258

-- Bed
-- Bath
1,760 Sq Ft
$296/Sq Ft Est. Value

Last Sold December 03, 2019

Last sale price $320,000 $182 Per Sq Ft

Est. 63% increase in value since last sale

Current estimated payment $3,120/month

80 Days on Market

Highlights

  • Ceramic Tile Flooring
  • Phoenix Coding Academy Rated A
  • Central Air

About This Home

As of December 2019

Rare opportunity to own a building located on the ''curve'' right in the very heart of the vibrant, trendy and hip Melrose District with an eclectic mix of retail, food & drink and personal services surrounding it. Property has been in the family since the 1950s. Great owner/user or investor re-positioning opportunity. Buyer can either vacate one or both tenants for personal renovation and use, or push rents to significantly increase cash flow as current tenants are well below market rate of $13-$14/SF NNN. This single level, block constructed retail space is currently used by a Beauty Salon and an Herbal Medicine shop. Tenants have occupied the building since 1996 and 2006 respectively. C-2 zoning also allows for office use. High Visibility to 7th Ave with ±35,078 VPD * High Visibility to 7th Ave with ±35,078 Vehicles Per Day
* In the heart of the trendy Melrose District
* Very walkable and bikeable according to WalkScore.com
* Grid bike share hub and bus stop ~100 ft away
* 204 luxury apartments built AUG 2018 across the street
* Recently completed & current redevelopment activity in immediate area
* Opportunity to collect NNN from tenants
* Rents are well below market rate of $13-$14 NNN

Last Agent to Sell the Property

Chris Norton

Get Multifamily License #SA641078000 Listed on: 07/18/2019

Get Multifamily

Co-Listed By

Mary Patry

Patry Commercial Real Estate License #BR641455000

Last Buyer's Agent

Non-MLS Agent

Non-MLS Office

Property Details

Property Type

  • Other

Est. Annual Taxes

  • $4,104

Year Built

  • Built in 1949

Lot Details

  • 6,483 Sq Ft Lot
  • Block Wall Fence
  • Chain Link Fence
  • Property is zoned C-2

Home Design

  • 1,760 Sq Ft Home
  • Built-Up Roof
  • Block Exterior

Flooring

  • Concrete
  • Ceramic Tile

Parking

  • 5 Open Parking Spaces
  • 5 Parking Spaces
  • Private Parking
  • Paved Parking

Utilities

  • Central Air

Listing and Financial Details

  • Tax Lot 3
  • Assessor Parcel Number 155-39-008

Community Details

Overview

  • Woodlea Blk 3 6, 11, 12 Subdivision

Building Details

  • Gross Income $24,640
  • Net Operating Income $24,387

Property Details

Property Type

Other

Est. Annual Taxes

$4,104

Year Built

Built in 1949

Lot Details

0

Listing Details

  • Cross Street: 7th Ave & Heatherbrae Dr
  • Legal Info Range: 3E
  • Property Type: Comm/Industry Sale
  • Zoning: C-2
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1949
  • Tax Year: 2018
  • Directions: From 7th Ave & Indian School Rd, go north on 7th Ave to Heatherbrae Dr. Bldg is on west side of 7th Ave next to Wag 'N Wash
  • Lot Size Acres: 0.15
  • Co List Office Mls Id: klcg01
  • Co List Office Phone: 602-445-4141
  • Subdivision Name: WOODLEA BLK 3-6, 11, 12
  • Structure Type: Commercial
  • Special Features: None
  • Property Sub Type: Other

Interior Features

  • Flooring: Ceramic Tile, Concrete
  • Living Area: 1760.0

Exterior Features

  • Fencing: Block, Chain Link
  • Disclosures: None
  • Construction Type: Block
  • Roof: Built-Up
  • Construction:Block: Yes

Garage/Parking

  • Parking Features: Paved Parking, Private Parking
  • Attached Garage: No
  • Open Parking Spaces: 5.0
  • Total Parking Spaces: 5.0
  • General Property Description:Uncvrd Parking Spcs: 5.0
  • General Property Description:Total Parking Spcs: 5.0
  • Parking:Paved Parking: Yes
  • Parking:Private Parking: Yes

Utilities

  • Electric: APS
  • Cooling: Central A/C
  • Heating: Other, See Remarks
  • Water Source: City Franchise

Fee Information

  • Annual Water Sewer Expense: 252.0

Lot Info

  • Lot Size Sq Ft: 6483.0
  • Parcel #: 155-39-008
  • ResoLotSizeUnits: SquareFeet

Multi Family

  • Annual Gross Income: 24640.0
  • Property Net Operating Income: 24387.0

Tax Info

  • Tax Annual Amount: 4104.0
  • Tax Book Number: 155.00
  • Tax Lot: 3
  • Tax Map Number: 39.00

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 18, 2019
Closed on
Dec 2, 2019
Sold by
Swan Robert and Swan Kathryn
Bought by
4232 N 7Th Llc
Seller's Agent
Chris Norton
Get Multifamily
Buyer's Agent
Non-MLS Agent
Non-MLS Office
List Price
$386,000
Sold Price
$320,000
Premium/Discount to List
-$66,000
-17.1%
Current Estimated Value
$521,258

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$201,258
Avg. Annual Appreciation
8.75%

Purchase Details

Closed on
Sep 28, 2009
Sold by
Georgacakis George D
Bought by
Georgacakis George D and The George D Georgacakis Living Trust
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
4232 N 7Th Llc $320,000 Empire West Title Agency Llc
Georgacakis George D -- None Available
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/03/2019 12/03/19 Sold $320,000 -17.1% $182 / Sq Ft
09/19/2019 09/19/19 Pending -- -- --
07/01/2019 07/01/19 For Sale $386,000 -- $219 / 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 $4,284 $32,127 -- --
2024 $4,264 $31,554 -- --
2023 $4,264 $43,741 $25,092 $18,649
2022 $4,367 $37,818 $20,073 $17,745
2021 $4,562 $32,112 $20,646 $11,466
2020 $4,421 $35,550 $24,210 $11,340
2019 $4,240 $33,966 $23,202 $10,764
2018 $4,104 $29,232 $18,324 $10,908
2017 $3,768 $26,838 $17,784 $9,054
2016 $3,639 $28,908 $20,754 $8,154
2015 $3,487 $24,550 $18,149 $6,401
Source: Public Records

Agents Affiliated with this Home

  • C

    Seller's Agent in 2019

    Chris Norton

    Get Multifamily

    Section Image

  • M

    Seller Co-Listing Agent in 2019

    Mary Patry

    Patry Commercial Real Estate

  • N

    Buyer's Agent in 2019

    Non-MLS Agent

    Non-MLS Office

See All Agents

Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5954053

Arizona Regional Multiple Listing Service (ARMLS)

APN: 155-39-008

Arizona Maricopa County Phoenix 85013 Uptown Phoenix

4232 N 7th Ave, Phoenix, AZ

This home is located at 4232 N 7th Ave, Phoenix, AZ 85013 since 18 July 2019 and is currently estimated at $521,258, approximately $296 per square foot. This property was built in 1949. 4232 N 7th Ave is a home located in Maricopa County with nearby schools including Clarendon Elementary School, Encanto Elementary School, and Osborn Middle School.

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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