NOT LISTED FOR SALE

Estimated Value: $823,000 - $941,000

Studio
-- Bath
3,540 Sq Ft
$249/Sq Ft Est. Value

Last Sold April 29, 2022

Last sale price $840,000 $237 Per Sq Ft

Est. 5% increase in value since last sale

Current estimated payment $4,710/month

39 Days on Market

Highlights

  • Cooling Available
  • Ceramic Tile Flooring
  • Heat Pump System
  • Phoenix Coding Academy Rated A

About This Home

As of April 2022

Great downtown Phoenix location close to Madison Park School, the Biltmore, Freeways and Camelback Corridor. There are four 2 bedroom, 1 bath units approximately 885SF each. Each unit has a patio area, storage room and a large community area on the east side. There is a community laundry with leased equipment. Four covered, 4 uncovered parking spaces plus visitor parking. Lease expiration dates are #1 expires 1/31/23 @ $895. Three long term tenants. #2 MTM @ $625 move in 2014. #3 MTM @ $795 move in 2018. #4 MTM @ $725 move in 2015. Unit 2 AC replaced 3/22. Units 2, 3, 4 repaired 3/22. Unit 1, 3 & 4 HVAC replaced in 2012. Unit 1 Water Heater June 2020. Unit 4 water heater July 2020. One seller is a licensed realtor in California. Highest & Best Offers due 4/7 by5:00PM.

Last Agent to Sell the Property

Pat Hune

1st Southwest Realty, LLC License #BR529524000 Listed on: 02/25/2022

Last Buyer's Agent

Lethe Lew

Desert River Realty License #BR569884000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,919

Year Built

  • Built in 1971

Home Design

  • Tile Roof
  • Composition Roof
  • Block Exterior

Flooring

  • Carpet
  • Ceramic Tile
  • Vinyl

Parking

  • 8 Parking Spaces
  • Carport
  • Assigned Parking

Schools

  • Madison Elementary School
  • Madison Park Middle School
  • North High School

Utilities

  • Cooling Available
  • Heat Pump System

Listing and Financial Details

  • The owner pays for trash collection, water, sewer
  • Tax Lot 4
  • Assessor Parcel Number 155-08-058-A

Community Details

Overview

  • 4 Units
  • Building Dimensions are IRR
  • Meadowbrook Subdivision

Building Details

  • Operating Expense $1,919
  • Gross Income $36,480
  • Net Operating Income $13,192

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,919

Year Built

Built in 1971

Lot Details

0 Sq Ft Lot

Listing Details

  • Cross Street: Camelback & 16th Street
  • Property Type: Multiple Dwellings
  • Zoning: R3
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1971
  • Tax Year: 2021
  • Road Surface Type: Asphalt
  • Subdivision Name: Meadowbrook
  • Tax Parcel Letter: A
  • Roofing:Composition: Yes
  • Water Source City Franchise2: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Ceramic Tile, Vinyl
  • Appliances: Free-Standing Range, Refrigerator
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Painted, Block
  • Roof: Composition, Tile
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 4.0
  • Parking Features: Assigned, Add'l Parking Avail, 1 Space/Unit, Carport
  • Attached Garage: No
  • Open Parking Spaces: 4.0
  • Total Parking Spaces: 8.0
  • General Property Description:Covered Parking Spcs: 4.0
  • General Property Description:Uncvrd Parking Spcs: 4.0
  • General Property Description:Total Parking Spcs: 8.0
  • Parking Features:Carport: Yes
  • Parking Features:Assigned: 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:Cable TV Available: Yes

Schools

  • Elementary School: Madison Elementary School
  • High School: North High School
  • Junior High Dist: Phoenix Union High School District
  • Middle Or Junior School: Madison Park School

Lot Info

  • Lot Size: IRR
  • Additional Parcels: No
  • Parcel #: 155-08-058-A

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Number Of Units Total: 4
  • Annual Gross Income: 36480.0
  • Property Net Operating Income: 13192.0
  • Annual Operating Expense: 1919.0

Tax Info

  • Tax Annual Amount: 1919.0
  • Tax Book Number: 155.00
  • Tax Lot: 4

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Sep 22, 2022
Sold by
Aven Bahnan
Bought by
Midtown Az Llc
Current Estimated Value
$882,739

Purchase Details

Listed on
Feb 25, 2022
Closed on
Apr 28, 2022
Sold by
Azal Khider
Bought by
Khider Sarmad
Seller's Agent
Pat Hune
1st Southwest Realty, LLC
Buyer's Agent
Lethe Lew
Desert River Realty
List Price
$850,000
Sold Price
$840,000
Premium/Discount to List
-$10,000
-1.18%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
1.30%
Original Mortgage
$546,000
Interest Rate
4.16%
Mortgage Type
New Conventional

Purchase Details

Listed on
Feb 25, 2022
Closed on
Apr 22, 2022
Sold by
Forge Trust Co
Bought by
Bahnan Aven and Khider Sarmad
Seller's Agent
Pat Hune
1st Southwest Realty, LLC
Buyer's Agent
Lethe Lew
Desert River Realty
List Price
$850,000
Sold Price
$840,000
Premium/Discount to List
-$10,000
-1.18%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$546,000
Interest Rate
4.16%
Mortgage Type
New Conventional

Purchase Details

Closed on
Nov 20, 2009
Sold by
T & T Investments Llc
Bought by
Ira Services Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$105,000
Interest Rate
4.99%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Dec 1, 2008
Sold by
Beery Richard D and Beery Marie L
Bought by
Beery Marie L and D Beery & Marie L Beery Family Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$47,500
Interest Rate
6.37%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Nov 24, 2008
Sold by
Beery Beery Marie L Marie L and Beery Richard D
Bought by
T & T Investments Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$47,500
Interest Rate
6.37%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Aug 25, 1995
Sold by
Berry Richard D and Berry Marie L
Bought by
R D B Inc
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
Midtown Az Llc -- Greystone Title
Midtown Az Llc -- Greystone Title
Khider Sarmad -- Greystone Title
Bahnan Aven -- Greystone Title
Khider Sarmad -- Greystone Title
Bahnan Aven -- Greystone Title
Bahnan Aven $840,000 Greystone Title
Bahnan Aven $840,000 Greystone Title
Ira Services Trust $150,000 Chicago Title Insurance Comp
Ira Services Trust $150,000 Chicago Title Insurance Comp
Beery Marie L -- Magnus Title Agency
Beery Marie L -- Magnus Title Agency
T & T Investments Llc $115,000 Magnus Title Agency
T & T Investments Llc $115,000 Magnus Title Agency
R D B Inc -- Fiesta Title & Escrow Agency
R D B Inc -- Fiesta Title & Escrow Agency
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Bahnan Aven $546,000
Previous Owner Ira Services Trust $105,000
Previous Owner T & T Investments Llc $47,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
04/29/2022 04/29/22 Sold $840,000 -1.2% $237 / Sq Ft
04/05/2022 04/05/22 Pending -- -- --
04/04/2022 04/04/22 For Sale $850,000 0.0% $240 / Sq Ft
03/23/2022 03/23/22 Pending -- -- --
03/21/2022 03/21/22 For Sale $850,000 0.0% $240 / Sq Ft
03/21/2022 03/21/22 Price Changed $850,000 +3.0% $240 / Sq Ft
02/28/2022 02/28/22 Pending -- -- --
02/25/2022 02/25/22 For Sale $825,000 -- $233 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

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 $2,113 $16,223 -- --
2024 $1,961 $15,450 -- --
2023 $1,961 $67,170 $13,430 $53,740
2022 $1,903 $47,080 $9,410 $37,670
2021 $1,919 $40,350 $8,070 $32,280
2020 $1,889 $33,110 $6,620 $26,490
2019 $1,848 $30,610 $6,120 $24,490
2018 $1,802 $26,720 $5,340 $21,380
2017 $1,717 $25,400 $5,080 $20,320
2016 $1,658 $19,810 $3,960 $15,850
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6360572

Arizona Regional Multiple Listing Service (ARMLS)

APN: 155-08-058A

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