NOT LISTED FOR SALE
36 Beds
-- Baths
1,197 Sq Ft
1985 Built

Sale Details

Date Sold: July 1, 2016

Last sale price $1,037,500 $867 Per Sq Ft

48 Days on Market

Highlights

  • Community Barbecue Grill
  • Sunnyslope High School Rated A
  • Individual Controls for Heating

About This Home

As of July 2016

Palmilla Apartments is a 24-unit apartment community located in
Phoenix, Arizona. Situated just north of the popular North Central
Corridor and roughly three miles from both the I-17 and the
SR-51 Freeways, residents enjoy direct access to all areas of the
Phoenix Metropolitan area for employment and work
opportunities. In addition, the newest segment of the Phoenix
Light Rail is minutes away with the nearest station approximately
two miles from the property. It is also walking distance to Fry's
grocery store and the award winning John C. Lincoln Hospital
and Medical Center. The North Central Corridor has become one
of the most highly desirable areas to live in the Phoenix
Metroplex. Palmilla is two blocks off 7th Street and just three
miles north of the famed Restaurant Row ar experiencing huge amounts of growth. These aspects, with
significant further growth on the horizon, make Palmilla ripe as a
value-add opportunity and a very desirable area and community
for its residents.

Last Agent to Sell the Property

John Klocek

ABI Multifamily License #SA657592000 Listed on: 05/06/2016

Co-Listed By

Patrick Burch

ABI Multifamily License #BR515118000

Last Buyer's Agent

Sam Ricketts

Premier Resort Holdings AZ License #BR544937000

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Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,242

Year Built

  • Built in 1985

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Stucco

Parking

  • 29 Open Parking Spaces
  • 29 Parking Spaces

Utilities

  • Cooling Available
  • Individual Controls for Heating
  • Separate Meters
  • Master Water Meter

Listing and Financial Details

  • The owner pays for trash collection, water, sewer
  • Assessor Parcel Number 159-45-111

Community Details

Overview

  • 24 Units
  • Building Dimensions are 0

Amenities

  • Community Barbecue Grill

Building Details

  • Gross Income $143,674
  • Net Operating Income $81,268

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,242

Year Built

Built in 1985

Listing Details

  • Cross Street: 7th Street and Hatcher Road
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R-4
  • Number Of Buildings: 1
  • Year Built: 1985
  • Tax Year: 2015
  • Road Surface Type: Asphalt
  • Co List Office Mls Id: abim01
  • Co List Office Phone: 602-714-1400
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

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

Exterior Features

  • Disclosures: None
  • Construction Type: Other, See Remarks, Painted, Stucco, Frame - Wood
  • Roof: Composition
  • Construction:Frame - Wood: Yes
  • Construction:Other (See Remarks)23: Yes

Garage/Parking

  • Open Parking Spaces: 29.0
  • Total Parking Spaces: 29.0
  • General Property Description:Uncvrd Parking Spcs: 29.0
  • General Property Description:Total Parking Spcs: 29.0
  • Parking:_greater_1 Space Per Unit: Yes

Utilities

  • Electric: City Electric, Individual Meter
  • Cooling: Individual, Electric
  • Heating: Individual, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: Master Meter
  • Heating:Electric: Yes
  • Heating:Individual: Yes

Condo/Co-op/Association

  • Community Features: Other, See Remarks, Barbecue

Association/Amenities

  • Community Amenities:Other18: Yes
  • Exterior Amenities:Fenced3: Yes
  • Community Amenities:See Remarks15: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Community Amenities:Barbecue: Yes

Lot Info

  • Lot Size: 0
  • Additional Parcels: No
  • Parcel #: 159-45-111

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Number Of Units Total: 24
  • Annual Gross Income: 143674.44
  • Property Net Operating Income: 81268.0
  • Vacancy Allowance Rate: 0.16

Tax Info

  • Tax Annual Amount: 6242.0
  • Tax Book Number: 159.00
  • Tax Lot: 0

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Agents Specializing in North Central, AZ

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Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$3,400,000 Commonwealth Land Title
Hatcher Rd 510 E Llc $3,525,000 Chicago Title
Oberon Apts Llc $1,037,500 Chicago Title Agency Inc
Patel Nilesh $790,000 Chicago Title Agency Inc
Rushi Investments Llc -- Accommodation
Bss Llc $670,000 Chicago Title Agency Inc
Palmilla Holdings Llc $350,000 Chicago Title
Blv Real Estate Holdings Llc -- None Available
Bank Of Las Vegas $400,000 Fidelity National Title
Longtime Holdings Llc $978,000 Capital Title Agency Inc
Johnston William A $862,500 Capital Title Agency Inc
Harris Peter M -- Grand Canyon Title Agency
Winter James H -- Grand Canyon Title Agency
Baxter Rich -- Grand Canyon Title Agency
Jovicic Dusko $708,000 Grand Canyon Title Agency In
Jovicic Dusko $708,000 Grand Canyon Title Agency In
Jovicic Dusko $708,000 Grand Canyon Title Agency In
Backstreet Central Llc $470,000 Nations Title Insurance
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Previous Owner $3,325,000
Previous Owner Patel Nilesh $632,000
Previous Owner Bss Llc $532,000
Previous Owner Longtime Holdings Llc $740,000
Previous Owner Johnston William A $500,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
07/01/2016 07/01/16 Sold $1,037,500 -7.8% $867 / Sq Ft
05/05/2016 05/05/16 For Sale $1,125,000 -- $940 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $7,995 $62,910
2024 $7,554 $59,915
2023 $7,554 $253,970 $50,790 $203,180
2022 $7,308 $189,960 $37,990 $151,970
2021 $7,402 $155,660 $31,130 $124,530
2020 $7,217 $129,680 $25,930 $103,750
2019 $7,086 $113,080 $22,610 $90,470
2018 $6,900 $88,250 $17,650 $70,600
2017 $6,865 $84,450 $16,890 $67,560
2016 $6,740 $77,170 $15,430 $61,740
2015 $6,242 $63,270 $12,650 $50,620
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5438657

Arizona Regional Multiple Listing Service (ARMLS)
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