NOT LISTED FOR SALE
8 Beds
8 Baths
-- Sq Ft
1985 Built

Last Sold November 20, 2020

Last sale price $3,070,000

55 Days on Market

Highlights

  • Cooling Available
  • Phoenix Coding Academy Rated A
  • Heat Pump System

About This Home

As of November 2020

Named after its uniqueness and beauty, ''Aviara'' is a 16 unit complex that has been completed renovated with the latest trends in colors and décor.
Built in 1985, the unit mix consists of 11 (2 bed/2 bath) units and 5 (2 bed/1.5 bath) units. Unit sizes are large at nearly 1,000 sqft. each. Just a few features include all new flooring and appliances, fresh paint, in-unit washer and dryers, walk-out patios on the lower level units and carport parking with plentiful visitor parking. Also, this complex is gated which is becoming a more sought-after feature by residents in search of great communities. The extensive renovations combined with desert landscaping keeps expenses very minimal and also provides for an investment property that is easy to operate.
Adding to this community's appeal,"Aviara" is centrally located in Uptown Phoenix bordering the very popular Central Corridor. Located near the renown Biltmore District, shopping and dining are abundant which
accommodates every person's taste. Major local employers include Phoenix Children's Hospital, Banner Health, JP Morgan Chase and the VA Medical Center. Access to downtown Phoenix and other cities is easy with the nearby Light Rail and freeways. Sky Harbor Airport is a short driving distance of less than 10 minutes. "Aviara" is the ideal turn-key investment. The complex is stable and fully occupied. Demand for freshly renovated units within such a desirable central Phoenix location are in high demand. Therefore, rental values are trending upwards within this complex, and as such, there is an upside on rents which translates to the potential to immediately add even more value to this already great investment!

The addresses for all 4 building are:
4318 N. 13th Pl. Apt. A; 4318 N. 13th Pl. Apt. B:
4322 N. 13th Pl. Apt. A; 4322 N. 13th Pl. Apt. B.

Please, do not disturb the tenants by trying to walk the property as it is gated and the tenants are unaware it is for sale. Drive by only! Thank you.

Last Agent to Sell the Property

Ken Tasopulos

Better Homes & Gardens Real Estate SJ Fowler License #SA524907000 Listed on: 07/11/2020

Better Homes & Gardens Real Estate SJ Fowler

Last Buyer's Agent

Ken Tasopulos

Better Homes & Gardens Real Estate SJ Fowler License #SA524907000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $8,414

Year Built

  • Built in 1985

Home Design

  • Wood Frame Construction
  • Tile Roof
  • Foam Roof
  • Stucco

Parking

  • 8 Open Parking Spaces
  • 24 Parking Spaces
  • 16 Covered Spaces
  • Common or Shared Parking
  • Free Parking
  • Paved Parking
  • On-Street Parking
  • Assigned Parking

Utilities

  • Cooling Available
  • Heat Pump System

Listing and Financial Details

  • Tenant pays for electricity
  • The owner pays for trash collection, water, sewer
  • Legal Lot and Block 15 / 3
  • Assessor Parcel Number 155-08-038-A

Community Details

Overview

  • 4 Buildings
  • 16 Units
  • Building Dimensions are Unknown
  • Meadowbrook Tract Blk 1 Subdivision

Building Details

  • Operating Expense $56,014
  • Gross Income $242,398
  • Net Operating Income $184,438

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$8,414

Year Built

Built in 1985

Lot Details

0

Listing Details

  • Cross Street: Camelback & 16th St.
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: Multi-Units
  • Number Of Buildings: 4
  • Ownership: Fee Simple
  • Year Built: 1985
  • Tax Year: 2019
  • Directions: South on 16th St. to Campbell Ave; West on Campbell Ave to 13th Place; South on 13th Place to complex. The complex is on the West side.
  • Road Surface Type: Asphalt
  • Professional Management Expense: 12120.0
  • Subdivision Name: MEADOWBROOK TRACT BLK 1
  • Tax Parcel Letter: A
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator: Yes
  • Appliances Included:Dishwasher: Yes
  • Appliances Included:Microwave2: Yes
  • Appliances Included:WasherDryer: Yes

Exterior Features

  • Disclosures: Other (See Remarks)
  • Construction Type: Painted, Stucco, Frame - Wood
  • Roof: Tile, Foam
  • Construction:Frame - Wood: Yes

Garage/Parking

  • Total Covered Spaces: 16.0
  • Parking Features: Paved Parking, Free, Assigned, Add'l Parking Avail, <1 Space Per Unit, Street Parking, Common
  • Attached Garage: No
  • Open Parking Spaces: 8.0
  • Total Parking Spaces: 24.0
  • General Property Description:Covered Parking Spcs: 16.0
  • General Property Description:Uncvrd Parking Spcs: 8.0
  • General Property Description:Total Parking Spcs: 24.0
  • Parking:Carport: Yes
  • Parking:Free: Yes
  • Parking:Street Parking: Yes
  • Parking:Paved Parking: Yes
  • Parking:Add_squote_l Parking Avail: Yes
  • Parking:Assigned: Yes
  • Parking:_less_1 Space Per Unit: Yes

Utilities

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

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Fenced3: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Desert Landscaping: Yes

Fee Information

  • Trash Expense: 4027.0
  • Annual Water Sewer Expense: 15653.0

Schools

  • Junior High Dist: Phoenix Union High School District

Lot Info

  • Lot Size: Unknown
  • Additional Parcels: No
  • Parcel #: 155-08-038-A

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Tenant Pays: Electricity
  • Number Of Units Total: 16
  • Electric Expense: 600.0
  • Annual Gross Income: 242398.2
  • Insurance Expense: 4800.0
  • Maintenance Expense: 8000.0
  • Property Net Operating Income: 184438.0
  • Annual Operating Expense: 56014.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 8414.0
  • Tax Block: 3
  • Tax Book Number: 155.00
  • Tax Lot: 15

Range of Values:

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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
11/20/2020 11/20/20 Sold $3,070,000 -1.8% --
09/03/2020 09/03/20 Pending -- -- --
07/10/2020 07/10/20 For Sale $3,125,000 +914.6% --
01/28/2016 01/28/16 Sold $308,000 -6.4% -- View Prior Sale
12/29/2015 12/29/15 Pending -- -- --
12/29/2015 12/29/15 For Sale $329,000 -- --
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6102083

Arizona Regional Multiple Listing Service (ARMLS)