NOT LISTED FOR SALE

Estimated Value: $765,000 - $809,000

-- Bed
-- Bath
1,666 Sq Ft
$472/Sq Ft Est. Value

Last Sold April 29, 2021

Last sale price $620,000 $372 Per Sq Ft

Est. 29% increase in value since last sale

Current estimated payment $4,463/month

4 Days on Market

Highlights

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

About This Home

As of April 2021

Sought after Palomino Estates 4 unit in the highly appreciating 85008 zip code. This area is close to S. Scottsdale, Arcadia, Papago, Tempe, the 202/143, and much more. Desirable unit mix of all large 2 bedroom/1 bath units. Two separate duplex buildings. All
units are 833 SF. 6 CAP +/- with 8 CAP potential! Many recent upgrades including all new HVAC units this year, newer roofs, & more. The
units rent for $1000+/-, but could be raised based on the submarket price/SF rental rate. Separate electric that is tenant paid. Owner paid w/s/t. All month-to-month leases. 100%
occupied. Do not bother the tenants. Buyer to complete/rely on own due diligence. Highly competitive price for this area/4 unit. Cleaner the offer, the better chance it has for acceptance.

Last Agent to Sell the Property

James Stephens

Better Homes & Gardens Real Estate SJ Fowler License #BR650365000 Listed on: 03/23/2021

Better Homes & Gardens Real Estate SJ Fowler

Last Buyer's Agent

Patrick O'Sullivan

Get Multifamily License #BR634211000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,198

Year Built

  • Built in 1960

Lot Details

  • 0.27

Home Design

  • Composition Roof
  • Block Exterior

Parking

  • 6 Open Parking Spaces
  • 6 Parking Spaces
  • Assigned Parking

Schools

  • Phoenix Union Bioscience High School

Utilities

  • Cooling Available
  • Heat Pump System

Listing and Financial Details

  • Tenant pays for electricity, cable TV
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 36
  • Assessor Parcel Number 125-13-080

Community Details

Overview

  • 2 Buildings
  • 4 Units
  • Building Dimensions are 11520 SF
  • Palomino Estates Subdivision

Building Details

  • Operating Expense $1,198
  • Gross Income $48,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,198

Year Built

Built in 1960

Lot Details

0

Listing Details

  • Cross Street: MCDOWELL RD & 48TH ST
  • Legal Info Range: 4E
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 2
  • Ownership: Fee Simple
  • Year Built: 1960
  • Tax Year: 2020
  • Road Surface Type: Asphalt
  • Subdivision Name: PALOMINO ESTATES
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Painted, Block
  • Roof: Composition
  • Construction:Block: Yes

Garage/Parking

  • Parking Features: Assigned, >1 Space Per Unit
  • Attached Garage: No
  • Open Parking Spaces: 6.0
  • Total Parking Spaces: 6.0
  • General Property Description:Uncvrd Parking Spcs: 6.0
  • General Property Description:Total Parking Spcs: 6.0
  • Parking:_greater_1 Space Per Unit: Yes
  • Parking:Assigned: Yes

Utilities

  • Electric: SRP
  • 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

  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Community Amenities:No Pool: Yes
  • Interior Amenities:Other (See Remarks)51: Yes
  • Exterior Amenities:Other (See Remarks)58: Yes

Schools

  • High School: Phoenix Union Bioscience High School
  • Junior High Dist: Phoenix Union High School District
  • Middle Or Junior School: Other

Lot Info

  • Lot Size: 11520 SF
  • Additional Parcels: No
  • Parcel #: 125-13-080

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Electricity, Cable TV
  • Number Of Units Total: 4
  • Annual Gross Income: 48000.0
  • Annual Operating Expense: 1198.0

Tax Info

  • Tax Annual Amount: 1198.0
  • Tax Book Number: 125.00
  • Tax Lot: 36

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Sep 6, 2022
Sold by
Sunil Walia
Bought by
Walia Business Llc
Current Estimated Value
$799,810

Purchase Details

Listed on
Mar 23, 2021
Closed on
Apr 28, 2021
Sold by
R & S Brown Ventures Llc
Bought by
Walia Sunil
Seller's Agent
James Stephens
Better Homes & Gardens Real Estate SJ Fowler
Buyer's Agent
Patrick O'Sullivan
Get Multifamily
List Price
$600,000
Sold Price
$620,000
Premium/Discount to List
$20,000
3.33%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
5.51%
Original Mortgage
$465,000
Interest Rate
3%
Mortgage Type
New Conventional

Purchase Details

Listed on
Mar 22, 2015
Closed on
Apr 3, 2015
Sold by
Moreno Tony
Bought by
R & S Brown Ventures Llc
Seller's Agent
Tony Moreno
HomeSmart Realty
Buyer's Agent
Amy Brown
Realty One Scottsdale LLC
List Price
$210,000
Sold Price
$210,000

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
19.52%

Purchase Details

Closed on
Aug 11, 2008
Sold by
Moreno Tony
Bought by
Moreno Antonio

Purchase Details

Closed on
Jun 28, 2007
Sold by
Moreno Monica
Bought by
Moreno Tony

Purchase Details

Closed on
Jun 4, 2007
Sold by
Ramos Ortega Epitacio
Bought by
Moreno Tony

Purchase Details

Closed on
Sep 13, 2005
Sold by
Moreno Monica M
Bought by
Moreno Tony

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$200,000
Interest Rate
7.49%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Feb 25, 2005
Sold by
Schweiswger Sheryl
Bought by
Moreno Tony

Purchase Details

Closed on
Jan 3, 2005
Sold by
Moreno Monica
Bought by
Moreno Tony

Purchase Details

Closed on
Sep 2, 2003
Sold by
Owen Rosemary
Bought by
Owen Rosemary

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$160,000
Interest Rate
7.51%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Dec 28, 2000
Sold by
Owen Rosemary
Bought by
Southern Trust

Purchase Details

Closed on
Jun 17, 1999
Sold by
Coots Donald D
Bought by
Owen Rosemary B

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$96,000
Interest Rate
7.01%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 5, 1994
Sold by
Ostrander Ronald C
Bought by
Coots Donald and Coots Alice G

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$53,000
Interest Rate
8.1%
Mortgage Type
Seller Take Back
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
Walia Business Llc -- --
Walia Sunil $620,000 Pioneer Title Agency Inc
R & S Brown Ventures Llc $210,000 American Title Svc Agency Ll
Moreno Antonio -- None Available
Moreno Tony -- None Available
Moreno Tony -- None Available
Moreno Tony -- First American Title Ins Co
Moreno Tony $250,000 First American Title Ins Co
Moreno Tony -- Capital Title Agency Inc
Moreno Tony -- Capital Title Agency Inc
Owen Rosemary -- Stewart Title & Trust
Southern Trust -- --
Owen Rosemary B $130,000 Ati Title Agency
Coots Donald $70,000 Lawyers Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Walia Sunil $465,000
Previous Owner Moreno Tony $200,000
Previous Owner Owen Rosemary $160,000
Previous Owner Owen Rosemary B $96,000
Previous Owner Coots Donald $53,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/29/2021 04/29/21 Sold $620,000 +3.3% $372 / Sq Ft
03/25/2021 03/25/21 Pending -- -- --
03/21/2021 03/21/21 For Sale $600,000 +185.7% $360 / Sq Ft
04/07/2015 04/07/15 Sold $210,000 0.0% $126 / Sq Ft
03/23/2015 03/23/15 Pending -- -- --
03/22/2015 03/22/15 For Sale $210,000 -- $126 / 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 $1,258 $10,471 -- --
2024 $1,246 $9,973 -- --
2023 $1,246 $49,700 $9,940 $39,760
2022 $1,201 $30,920 $6,180 $24,740
2021 $1,221 $27,480 $5,490 $21,990
2020 $1,198 $23,980 $4,790 $19,190
2019 $1,194 $21,630 $4,320 $17,310
2018 $1,124 $16,870 $3,370 $13,500
2017 $1,077 $16,180 $3,230 $12,950
2016 $1,054 $11,600 $2,320 $9,280
2015 $989 $9,370 $1,870 $7,500
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6211071

Arizona Regional Multiple Listing Service (ARMLS)

APN: 125-13-080