NOT LISTED FOR SALE

5505 W Palmaire Ave Glen Dale, AZ 85301

Downtown Glendale Neighborhood

Estimated Value: $570,000 - $1,744,425

-- Bed
12 Baths
4,500 Sq Ft
$252/Sq Ft Est. Value

Last Sold December 20, 2022

Last sale price $1,575,000 $350 Per Sq Ft

Est. 27% decrease in value since last sale

Current estimated payment $6,805/month

219 Days on Market

Highlights

  • Cooling Available
  • Carpet
  • Heating Available

About This Home

As of December 2022

Excellent opportunity to purchase 2 4-plexes. Property being sold with additional 4 plex at 7126 N 55th Ave. (1,799,000 million each) Newly built 4 plexes on corner lot with great income potential.

Last Agent to Sell the Property

Robert Romanet

ARRT of Real Estate License #SA686850000 Listed on: 04/26/2022

Co-Listed By

Alycia Robins

AMR Fine Properties License #BR550724000

Last Buyer's Agent

Jill Edgley

W and Partners, LLC License #SA694035000

W and Partners, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $754

Year Built

  • Built in 2022

Lot Details

  • Additional Parcels

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Stucco

Flooring

  • Carpet
  • Vinyl

Parking

  • 8 Open Parking Spaces
  • 12 Parking Spaces
  • 4 Covered Spaces

Schools

  • Glendale Landmark Middle School
  • Glendale High School

Utilities

  • Cooling Available
  • Heating Available

Listing and Financial Details

  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 1
  • Assessor Parcel Number 147-25-039

Community Details

Overview

  • 4 Units
  • Building Dimensions are 8685
  • Park Addn Blks 26 28, 7 15 Subdivision

Building Details

  • Operating Expense $754
  • Gross Income $106,675
  • Net Operating Income $100,808

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$754

Year Built

Built in 2022

Lot Details

0

Listing Details

  • Cross Street: 55th Ave & West Palmaire
  • Property Type: Multiple Dwellings
  • Zoning: R3
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 2022
  • Tax Year: 2021
  • Road Surface Type: Asphalt
  • Co List Office Mls Id: aore001
  • Co List Office Phone: 480-300-7776
  • Subdivision Name: PARK ADDN BLKS 26-28, 7-15
  • Garage Yn: Yes
  • Roofing:Composition: Yes
  • Construction:Wood Frame: Yes
  • Water Source City Franchise2: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Vinyl
  • Appliances: Free-Standing Range, Dishwasher, Refrigerator, Microwave, Washer/Dryer
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Microwave2: Yes
  • Appliances Included:WasherDryer: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Dishwasher2: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Wood Frame, Painted, Stucco
  • Roof: Composition

Garage/Parking

  • Total Covered Spaces: 4.0
  • Parking Features: 1 Space/Unit
  • Attached Garage: No
  • Open Parking Spaces: 8.0
  • Total Parking Spaces: 12.0
  • General Property Description:Covered Parking Spcs: 4.0
  • General Property Description:Uncvrd Parking Spcs: 8.0
  • General Property Description:Total Parking Spcs: 12.0
  • Parking Features:Garage: Yes

Utilities

  • Electric: APS
  • Cooling: Electric
  • Heating: Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:PatioBalcony: Yes
  • Interior Amenities:Unfurnished: Yes
  • Interior Amenities:Vertical Blinds2: Yes

Schools

  • Elementary School: Glendale Landmark Middle School
  • High School: Glendale High School
  • Junior High Dist: Glendale Union High School District
  • Middle Or Junior School: Glendale Landmark Middle School

Lot Info

  • Lot Size: 8685
  • Additional Parcels: Yes
  • Parcel #: 147-25-039

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Number Of Units Total: 4
  • Annual Gross Income: 106675.2
  • Property Net Operating Income: 100808.06
  • Annual Operating Expense: 754.0
  • Vacancy Allowance Rate: 0.04

Tax Info

  • Tax Annual Amount: 754.0
  • Tax Book Number: 147.00
  • Tax Lot: 1

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 26, 2022
Closed on
Jan 24, 2023
Sold by
Potharaju Suryanarayana M and Potharaju Madhavi L
Bought by
Potharaju Qof
Seller's Agent
Robert Romanet
ARRT of Real Estate
Buyer's Agent
Jill Edgley
W and Partners, LLC
List Price
$1,799,000
Sold Price
$1,575,000
Premium/Discount to List
-$224,000
-12.45%
Views
2
Current Estimated Value
$1,146,399

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$428,601
Avg. Annual Appreciation
-5.16%
Original Mortgage
$1,023,750
Outstanding Balance
$998,682
Interest Rate
7.08%
Mortgage Type
New Conventional
Estimated Equity
$368,660

Purchase Details

Listed on
Apr 26, 2022
Closed on
Dec 21, 2022
Sold by
Palmaire 1 Llc
Bought by
Potharaju Suryanarayana M and Gollapudi Madhavi L
Seller's Agent
Robert Romanet
ARRT of Real Estate
Buyer's Agent
Jill Edgley
W and Partners, LLC
List Price
$1,799,000
Sold Price
$1,575,000
Premium/Discount to List
-$224,000
-12.45%
Views
2

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,023,750
Outstanding Balance
$998,682
Interest Rate
7.08%
Mortgage Type
New Conventional
Estimated Equity
$368,660
Source: Public Records

Range of Values:

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Average Value
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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
Potharaju Qof -- --
Potharaju Suryanarayana M $1,575,000 Lawyers Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Potharaju Suryanarayana M $1,023,750
Closed Potharaju Suryanarayana M $1,023,750
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/20/2022 12/20/22 Sold $1,575,000 -12.5% $350 / Sq Ft
10/31/2022 10/31/22 For Sale $1,799,000 +14.2% $400 / Sq Ft
10/27/2022 10/27/22 Off Market $1,575,000 -- --
09/20/2022 09/20/22 For Sale $1,799,000 0.0% $400 / Sq Ft
09/20/2022 09/20/22 Price Changed $1,799,000 +14.2% $400 / Sq Ft
06/16/2022 06/16/22 Off Market $1,575,000 -- --
04/26/2022 04/26/22 For Sale $2,000,000 -- $444 / 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 $6,711 $50,274 -- --
2024 $6,149 $47,880 -- --
2023 $6,149 $80,000 $16,000 $64,000
2022 $773 $9,990 $9,990 $0
Source: Public Records

Agents Affiliated with this Home

  • Robert Romanet

    Seller's Agent in 2022

    Robert Romanet

    ARRT of Real Estate

    (602) 653-0916

    3 in this area

    50 Total Sales

    Section Image
  • Alycia Robins

    Seller Co-Listing Agent in 2022

    Alycia Robins

    AMR Fine Properties

    (602) 295-9303

    2 in this area

    19 Total Sales

    Section Image

  • J

    Buyer's Agent in 2022

    Jill Edgley

    W and Partners, LLC

    (480) 359-6519

    2 in this area

    48 Total Sales

    Section Image
  • Brittany Crowell

    Buyer Co-Listing Agent in 2022

    Brittany Crowell

    W and Partners, LLC

    (623) 256-2595

    2 in this area

    268 Total Sales

    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6389513

Arizona Regional Multiple Listing Service (ARMLS)

APN: 147-25-039A

Arizona Maricopa County Glendale 85301 Downtown Glendale

5505 W Palmaire Ave, Glendale, AZ

This home is located at 5505 W Palmaire Ave, Glen Dale, AZ 85301 since 26 April 2022 and is currently estimated at $1,135,142, approximately $252 per square foot. This property was built in 2022. 5505 W Palmaire Ave is a home located in Maricopa County with nearby schools including Glendale Landmark Middle School, Glendale High School, and Grace Lutheran School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Arizona Regional Multiple Listing Service (ARMLS) All information should be verified by the recipient and none is guaranteed as accurate by ARMLS

Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393

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