NOT LISTED FOR SALE
25 Beds
15 Baths
-- Sq Ft
1953 Built

Sale Details

Date Sold: May 30, 2014

Last sale price $880,000

105 Days on Market

About This Home

As of May 2014

Tremendous location! Great investment opportunity near Camelback Corridor. Property has 15 units among 3 buildings and a house. Unit mix is mostly 2 bedroom units. electricity is individually metered. Block concrete construction. Property has laundry room for additional income. Beautiful green landscaping. Property has easy access to freeways, shopping, restaurants and entertainment districts. Seller has recently spent significant capital on new copper plumbing, parking lot re-surfacing and landscaping.

Last Agent to Sell the Property

Linda Gerchick

Gerchick Real Estate License #BR114848000 Listed on: 12/31/2013

Co-Listed By

Jamie Canute

Orion Investment Real Estate License #SA580623000

Last Buyer's Agent

Linda CCIM

Stephen Magee Int'l Properties

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Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,054

Year Built

  • Built in 1953

Home Design

  • Composition Roof
  • Block Exterior

Parking

  • 15 Open Parking Spaces
  • 19 Parking Spaces
  • 4 Covered Spaces

Schools

  • Madison #1 Middle School
  • Camelback High School

Utilities

  • Cooling Available
  • Heat Pump System

Listing and Financial Details

  • Tenant pays for cable TV
  • The owner pays for trash collection, water, sewer
  • Tax Lot 11
  • Assessor Parcel Number 163-08-016

Community Details

Overview

  • 4 Buildings
  • 15 Units
  • Building Dimensions are irr
  • Citrus Heights Lots 10 33 Subdivision

Building Details

  • Operating Expense $39,063
  • Gross Income $97,238
  • Net Operating Income $56,887

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,054

Year Built

Built in 1953

Listing Details

  • Cross Street: Indian School and 24th Street
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: M-M
  • Number Of Buildings: 4
  • Year Built: 1953
  • Tax Year: 2012
  • Road Surface Type: Asphalt
  • Professional Management Expense: 7796.0
  • Co List Office Mls Id: gerc01
  • Co List Office Phone: 602-688-9279
  • Subdivision Name: Citrus Heights Lots 10-33
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

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

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Other, See Remarks, Block
  • Roof: Composition
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 4.0
  • Open Parking Spaces: 15.0
  • Total Parking Spaces: 19.0
  • General Property Description:Covered Parking Spcs: 4.0
  • General Property Description:Uncvrd Parking Spcs: 15.0
  • General Property Description:Total Parking Spcs: 19.0
  • Parking:Street Parking: Yes

Utilities

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

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Green Landscaping: Yes
  • Community Amenities:No Pool: Yes

Fee Information

  • Annual Fuel Expense: 372.0
  • Trash Expense: 4539.0
  • Annual Water Sewer Expense: 7498.0

Schools

  • Elementary School: Madison #1 Middle School
  • High School: Camelback High School
  • Middle Or Junior School: Madison #1 Middle School

Lot Info

  • Lot Size: irr
  • Additional Parcels: No
  • Parcel #: 163-08-016

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Tenant Pays: Cable TV
  • Number Of Units Total: 15
  • Electric Expense: 3600.0
  • Annual Gross Income: 97238.2
  • Insurance Expense: 3804.0
  • Maintenance Expense: 6000.0
  • Property Net Operating Income: 56887.0
  • Annual Operating Expense: 39062.88
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 3053.88
  • Tax Book Number: 163.00
  • Tax Lot: 11

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 31, 2013
Closed on
May 27, 2014
Sold by
Bought by
Seller's Agent
Linda Gerchick
Gerchick Real Estate
Buyer's Agent
Linda Gerchick
Gerchick Real Estate
List Price
$925,000
Sold Price
$880,000
Premium/Discount to List
-$45,000
-4.86%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$539,500
Interest Rate
4.23%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 9, 2000
Sold by
Bought by

Purchase Details

Closed on
Sep 29, 1995
Sold by
Bought by

Purchase Details

Closed on
Dec 30, 1976
Sold by
Bought by
Source: Public Records

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$830,000 Empire West Title Agency
$602,500 Capital Title Agency
$385,000 United Title Agency
$190,000 United Title Agency
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $500,000
Closed $539,500
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
05/30/2014 05/30/14 Sold $880,000 -4.9% --
04/14/2014 04/14/14 Pending -- -- --
12/30/2013 12/30/13 For Sale $925,000 -- --
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $7,374 $56,603
2024 $6,842 $53,907
2023 $6,842 $273,030 $54,600 $218,430
2022 $6,563 $218,370 $43,670 $174,700
2021 $6,625 $186,220 $37,240 $148,980
2020 $6,522 $142,450 $28,490 $113,960
2019 $6,378 $113,460 $22,690 $90,770
2018 $6,220 $87,210 $17,440 $69,770
2017 $5,926 $78,680 $15,730 $62,950
2016 $5,721 $66,560 $13,310 $53,250
2015 $5,314 $58,970 $11,790 $47,180
Source: Public Records

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5047063

Arizona Regional Multiple Listing Service (ARMLS)
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