NOT LISTED FOR SALE
22 Beds
14 Baths
1,585 Sq Ft
1957 Built

Last Sold March 20, 2014

Last sale price $534,000 $337 Per Sq Ft

90 Days on Market

Highlights

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

About This Home

As of March 2014

Superior east Phoenix location. Mostly two-bedroom units in this private garden-style setting.
Buildings are single-level block-constructed with pitched roofs and are individually metered for
electricity and gas. Tenants enjoy landscaped grounds, some covered parking, on-site laundry and spacious rental units. Close to the 202, SR 143, and Sky Harbor International Airport, the property has convenient access to east Phoenix, Tempe and Scottsdale. Property stays fully occupied as most units are rented below market- allowing a new owner good upside.

Last Agent to Sell the Property

Scott Trevey

REI Marketing License #SA539099000 Listed on: 12/17/2013

Last Buyer's Agent

Scott Trevey

REI Marketing License #SA539099000 Listed on: 12/17/2013

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,524

Year Built

  • Built in 1957

Home Design

  • Composition Roof
  • Built-Up Roof
  • Foam Roof
  • Block Exterior

Flooring

  • Carpet
  • Ceramic Tile
  • Vinyl

Parking

  • 17 Open Parking Spaces
  • 19 Parking Spaces
  • 2 Covered Spaces
  • Common or Shared Parking

Utilities

  • Cooling Available
  • Heat Pump System

Listing and Financial Details

  • Tenant pays for electricity, cable TV
  • The owner pays for gas, trash collection, water, sewer
  • Tax Lot 9
  • Assessor Parcel Number 126-18-001

Community Details

Overview

  • 5 Buildings
  • 14 Units
  • Building Dimensions are irregular

Amenities

  • Community Barbecue Grill

Building Details

  • Gross Income $87,210
  • Net Operating Income $38,875

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,524

Year Built

Built in 1957

Lot Details

0

Listing Details

  • Cross Street: 48th Street - 5 blocks N of McDowell
  • Legal Info Range: 4E
  • Property Type: Multiple Dwellings
  • Zoning: M-M R-3
  • Number Of Buildings: 5
  • Ownership: Fee Simple
  • Year Built: 1957
  • Tax Year: 2013
  • Road Surface Type: Asphalt, Concrete
  • Professional Management Expense: 6900.0
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Ceramic Tile, Vinyl
  • Appliances: F/S Oven/Range
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Dishwasher2: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Painted, Block
  • Roof: Composition, Built-Up, Foam
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 2.0
  • Parking Features: >1 Space Per Unit, Common
  • Attached Garage: No
  • Open Parking Spaces: 17.0
  • Total Parking Spaces: 19.0
  • General Property Description:Covered Parking Spcs: 2.0
  • General Property Description:Uncvrd Parking Spcs: 17.0
  • General Property Description:Total Parking Spcs: 19.0
  • Parking:Carport: Yes
  • Parking:_greater_1 Space Per Unit: Yes

Utilities

  • Electric: SRP
  • Cooling: Heat Pump, 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: Barbecue, No Pool

Association/Amenities

  • Exterior Amenities:Green Landscaping: Yes
  • Exterior Amenities:Fenced3: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Exterior Amenities:PatioBalcony: Yes
  • Exterior Amenities:Security Light(s)3: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Interior Amenities:Mini Blinds: Yes
  • Community Amenities:No Pool: Yes
  • Interior Amenities:Breakfast Bar2: Yes
  • Interior Amenities:Vertical Blinds2: Yes
  • Community Amenities:Barbecue: Yes
  • Exterior Amenities:Satellite Dish: Yes

Fee Information

  • Annual Fuel Expense: 950.0
  • Trash Expense: 2250.0
  • Annual Water Sewer Expense: 3725.0

Schools

  • Junior High Dist: Phoenix Union High School District

Lot Info

  • Lot Size: irregular
  • Additional Parcels: No
  • Parcel #: 126-18-001

Multi Family

  • Owner Pays: Gas, Trash Collection, Water, Sewer
  • Tenant Pays: Electricity, Cable TV
  • Number Of Units Total: 14
  • Electric Expense: 2800.0
  • Annual Gross Income: 87210.0
  • Insurance Expense: 3130.0
  • Maintenance Expense: 8400.0
  • Property Net Operating Income: 38875.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 4524.0
  • Tax Book Number: 126.00
  • Tax Lot: 9
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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
03/20/2014 03/20/14 Sold $534,000 -7.8% $337 / Sq Ft
03/17/2014 03/17/14 Pending -- -- --
12/17/2013 12/17/13 For Sale $579,000 -- $365 / 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 $6,592 $51,652 -- --
2024 $6,144 $49,193 -- --
2023 $6,144 $170,030 $34,000 $136,030
2022 $5,923 $151,420 $30,280 $121,140
2021 $6,022 $119,120 $23,820 $95,300
2020 $5,911 $84,070 $16,810 $67,260
2019 $5,888 $61,800 $12,360 $49,440
2018 $5,547 $55,660 $11,130 $44,530
2017 $5,313 $46,970 $9,390 $37,580
2016 $5,198 $44,600 $8,920 $35,680
2015 $4,879 $31,710 $6,340 $25,370
Source: Public Records

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5055007

Arizona Regional Multiple Listing Service (ARMLS)