NOT LISTED FOR SALE
50 Beds
-- Bath
803 Sq Ft
1969 Built

Last Sold December 29, 2017

Last sale price $4,000,000 $4,981 Per Sq Ft

50 Days on Market

Highlights

  • Heated Community Pool
  • Ceramic Tile Flooring
  • Heating Available
  • Phoenix Coding Academy Rated A
  • Central Air

About This Home

As of December 2017

Tres Arcos is a 25-unit apartment community located in the heart of Phoenix. Nestled among historic neighborhoods and highly renovated properties, Tres Arcos is located one block from the Arizona Biltmore. Residents enjoy the close proximity to Biltmore Fashion Park and all the amenities within the Camelback Corridor. Tres Arcos is an extremely desirable location for residents and has consistently stayed fully occupied. Tres Arcos is a 1969 block-constructed property consisting of seven single-level buildings. It's vintage charm lends itself to the popular mid-century modern renovation trend that is in high demand by residents and investors alike. The property consists of all two-bedroom units with individual backyards and covered parking for each unit. Tres Arcos is individually metered for electricity and hot water and enjoys an onsite laundry facility and recently renovated swimming pool. Very few properties can provide the location and redevelopment potential that the community has to offer.

Last Agent to Sell the Property

Royce Munroe

Munroe Multifamily License #BR512795000 Listed on: 08/07/2017

Munroe Multifamily

Last Buyer's Agent

Royce Munroe

ABI Multifamily License #BR512795000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $13,110

Year Built

  • Built in 1969

Home Design

  • Composition Roof
  • Block Exterior

Flooring

  • Carpet
  • Ceramic Tile
  • Vinyl

Parking

  • 12 Open Parking Spaces
  • 37 Parking Spaces
  • 25 Covered Spaces
  • Common or Shared Parking
  • Paved Parking

Utilities

  • Central Air
  • Heating Available

Listing and Financial Details

  • Tenant pays for electricity
  • The owner pays for trash collection, water, sewer
  • Tax Lot unknown
  • Assessor Parcel Number 163-18-083-F

Community Details

Overview

  • 7 Buildings
  • 25 Units
  • Building Dimensions are unknown

Recreation

  • Heated Community Pool

Building Details

  • Operating Expense $77,460
  • Gross Income $361,523
  • Net Operating Income $214,061

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$13,110

Year Built

Built in 1969

Lot Details

0

Listing Details

  • Cross Street: 28th Street & Camelback Road
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 7
  • Ownership: Fee Simple
  • Year Built: 1969
  • Tax Year: 2016
  • Road Surface Type: Asphalt
  • Professional Management Expense: 12500.0
  • Tax Parcel Letter: F
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Ceramic Tile, Vinyl
  • Appliances: BI Oven/Range
  • Appliances Included:BI OvenRange: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

  • Disclosures: Other (See Remarks)
  • Construction Type: Painted, Block
  • Roof: Composition
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 25.0
  • Parking Features: Paved Parking, Common
  • Attached Garage: No
  • Open Parking Spaces: 12.0
  • Total Parking Spaces: 37.0
  • General Property Description:Covered Parking Spcs: 25.0
  • General Property Description:Uncvrd Parking Spcs: 12.0
  • General Property Description:Total Parking Spcs: 37.0
  • Parking:Carport: Yes
  • Parking:Paved Parking: Yes

Utilities

  • Electric: SRP
  • Cooling: Central A/C
  • Heating: Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes

Condo/Co-op/Association

  • Community Features: Pool

Association/Amenities

  • Community Amenities:Pool2: Yes

Fee Information

  • Annual Fuel Expense: 850.0
  • Trash Expense: 3000.0
  • Annual Water Sewer Expense: 17500.0

Schools

  • Junior High Dist: Phoenix Union High School District

Lot Info

  • Lot Size: unknown
  • Additional Parcels: No
  • Parcel #: 163-18-083-F

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Tenant Pays: Electricity
  • Number Of Units Total: 25
  • Electric Expense: 4000.0
  • Annual Gross Income: 361522.5
  • Insurance Expense: 5000.0
  • Maintenance Expense: 7500.0
  • Property Net Operating Income: 214061.0
  • Annual Operating Expense: 77460.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 13110.0
  • Tax Book Number: 163.00
  • Tax Lot: unknown
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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
12/29/2017 12/29/17 Sold $4,000,000 0.0% $4,981 / Sq Ft
09/26/2017 09/26/17 Pending -- -- --
08/07/2017 08/07/17 For Sale $3,999,999 -- $4,981 / 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 $16,711 $128,276 -- --
2024 $15,506 $122,167 -- --
2023 $15,506 $444,860 $88,970 $355,890
2022 $15,043 $404,220 $80,840 $323,380
2021 $15,173 $376,080 $75,210 $300,870
2020 $14,937 $385,300 $77,060 $308,240
2019 $14,608 $275,870 $55,170 $220,700
2018 $14,250 $142,430 $28,480 $113,950
2017 $13,579 $129,010 $25,800 $103,210
2016 $13,110 $116,070 $23,210 $92,860
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5643626

Arizona Regional Multiple Listing Service (ARMLS)