NOT LISTED FOR SALE
16 Beds
10 Baths
1,560 Sq Ft
1960 Built

Last Sold August 02, 2017

Last sale price $615,000 $394 Per Sq Ft

127 Days on Market

Highlights

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

About This Home

As of August 2017

This property is fully occupied with long term tenants. The mix is 4- 2 bedrooms and 6- one bedrooms. Most of the units are tiled. The exterior has had thel of the fascia replaced and repainted. See current rent role in the document tab. This is a great rental area-between Scottsdale, Tempe, Sky Harbor and Phoenix. All rents in this area are increasing so there is room to move rents.

Last Agent to Sell the Property

Linda Gerchick

Gerchick Real Estate License #BR114848000 Listed on: 02/09/2017

Last Buyer's Agent

Linda CCIM

Stephen Magee Int'l Properties

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,229

Year Built

  • Built in 1960

Home Design

  • Composition Roof
  • Block Exterior

Parking

  • 10 Open Parking Spaces
  • 10 Parking Spaces

Utilities

  • Cooling Available
  • Heat Pump System
  • Individual Controls for Heating

Additional Features

  • Concrete Flooring
  • Additional Parcels

Listing and Financial Details

  • Tenant pays for cable TV
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 51
  • Assessor Parcel Number 125-13-095-A

Community Details

Overview

  • 3 Buildings
  • 10 Units
  • Building Dimensions are irr
  • Palomino Estates Subdivision

Amenities

  • Community Barbecue Grill

Building Details

  • Operating Expense $22,231
  • Gross Income $64,410
  • Net Operating Income $42,179

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,229

Year Built

Built in 1960

Lot Details

0

Listing Details

  • Cross Street: McDowell Rd and 48th Street
  • Legal Info Range: 4E
  • Property Type: Multiple Dwellings
  • Zoning: Multi
  • Number Of Buildings: 3
  • Year Built: 1960
  • Tax Year: 2016
  • Road Surface Type: Asphalt, Dedicated Street
  • Professional Management Expense: 5424.0
  • Subdivision Name: PALOMINO ESTATES
  • Tax Parcel Letter: A
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

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

Exterior Features

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

Garage/Parking

  • Open Parking Spaces: 10.0
  • Total Parking Spaces: 10.0
  • General Property Description:Uncvrd Parking Spcs: 10.0
  • General Property Description:Total Parking Spcs: 10.0
  • Parking:Free: Yes
  • Parking:Street Parking: Yes
  • Parking:_one_ SpaceUnit: Yes

Utilities

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

Condo/Co-op/Association

  • Community Features: Barbecue, No Pool

Association/Amenities

  • Exterior Amenities:Cable TV Available: Yes
  • Exterior Amenities:PatioBalcony: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Interior Amenities:Mini Blinds: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Vertical Blinds2: Yes
  • Community Amenities:Barbecue: Yes

Fee Information

  • Trash Expense: 1200.0
  • Annual Water Sewer Expense: 3000.0

Lot Info

  • Lot Size: irr
  • Additional Parcels: Yes
  • Parcel #: 125-13-095-A

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Cable TV
  • Number Of Units Total: 10
  • Electric Expense: 2000.0
  • Annual Gross Income: 64410.0
  • Insurance Expense: 2878.0
  • Maintenance Expense: 4000.0
  • Property Net Operating Income: 42179.0
  • Annual Operating Expense: 22231.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 2229.0
  • Tax Book Number: 125.00
  • Tax Lot: 51
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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
08/02/2017 08/02/17 Sold $615,000 -5.0% $394 / Sq Ft
08/01/2017 08/01/17 Price Changed $647,500 0.0% $415 / Sq Ft
06/16/2017 06/16/17 Pending -- -- --
06/10/2017 06/10/17 For Sale $647,500 0.0% $415 / Sq Ft
06/07/2017 06/07/17 Pending -- -- --
05/23/2017 05/23/17 For Sale $647,500 0.0% $415 / Sq Ft
05/12/2017 05/12/17 Pending -- -- --
04/15/2017 04/15/17 Price Changed $647,500 -3.7% $415 / Sq Ft
04/13/2017 04/13/17 Price Changed $672,500 +3.5% $431 / Sq Ft
02/09/2017 02/09/17 For Sale $650,000 -- $417 / 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 $2,827 $22,153 -- --
2024 $2,635 $21,098 -- --
2023 $2,635 $112,160 $12,460 $99,700
2022 $2,541 $69,280 $7,690 $61,590
2021 $2,583 $60,320 $6,700 $53,620
2020 $2,535 $52,000 $5,770 $46,230
2019 $2,526 $46,350 $5,150 $41,200
2018 $2,379 $39,540 $4,390 $35,150
2017 $2,279 $33,610 $3,730 $29,880
2016 $2,229 $24,860 $2,760 $22,100
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5558989

Arizona Regional Multiple Listing Service (ARMLS)