NOT LISTED FOR SALE

7126 N 55th Ave Glendale, AZ 85301

Estimated Value: $363,000 - $1,645,521

12 Beds
12 Baths
5,313 Sq Ft
$193/Sq Ft Est. Value

Last Sold December 20, 2022

Last sale price $1,575,000 $296 Per Sq Ft

Est. 35% decrease in value since last sale

Current estimated payment $6,112/month

219 Days on Market

Highlights

  • Cooling Available
  • Carpet
  • Heating Available

About This Home

As of December 2022

Brand new multi family units being sold with 5505 W Palmaire. (1,799,000 million each)
2 4-plexes ready for tenants in Opportunity Zone. Excellent ROI 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
  • Tax Lot 2
  • Assessor Parcel Number 147-25-039-B

Community Details

Overview

  • 4 Units
  • Building Dimensions are 7588

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 and Wet 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
  • Garage Yn: Yes
  • Tax Parcel Letter: B
  • 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: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: 7588
  • Additional Parcels: Yes
  • Parcel #: 147-25-039-B

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • 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: 2

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
6
Current Estimated Value
$1,027,507

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$547,493
Avg. Annual Appreciation
-13.44%
Original Mortgage
$1,023,750
Outstanding Balance
$993,755
Interest Rate
7.08%
Mortgage Type
New Conventional
Estimated Equity
$33,752

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
6

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
$993,755
Interest Rate
7.08%
Mortgage Type
New Conventional
Estimated Equity
$33,752

Purchase Details

Closed on
Apr 27, 2021
Sold by
Clark Jill
Bought by
Palmaire 1 Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,518,233
Interest Rate
3.1%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Potharaju Qof -- --
Potharaju Suryanarayana M $1,575,000 Lawyers Title
Palmaire 1 Llc -- Old Republic Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Potharaju Suryanarayana M $1,023,750
Previous Owner Palmaire 1 Llc $1,518,233
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/20/2022 12/20/22 Sold $1,575,000 -12.5% $296 / Sq Ft
10/31/2022 10/31/22 For Sale $1,799,000 +14.2% $339 / 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% $339 / Sq Ft
09/20/2022 09/20/22 Price Changed $1,799,000 +14.2% $339 / Sq Ft
06/16/2022 06/16/22 Off Market $1,575,000 -- --
04/26/2022 04/26/22 For Sale $2,000,000 -- $376 / 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 $8,488 $61,184 -- --
2024 $7,484 $58,270 -- --
2023 $7,484 $97,360 $16,000 $81,360
2022 $646 $8,355 $8,355 $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

    4 in this area

    50 Total Sales

    Robert Romanet
    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

    Alycia Robins
    Section Image

  • J

    Buyer's Agent in 2022

    Jill Edgley

    W and Partners, LLC

    (480) 359-6519

    7 in this area

    52 Total Sales

    Jill Edgley
    Section Image
  • Brittany Crowell

    Buyer Co-Listing Agent in 2022

    Brittany Crowell

    W and Partners, LLC

    (623) 256-2595

    13 in this area

    190 Total Sales

    Brittany Crowell
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6389512

Arizona Regional Multiple Listing Service (ARMLS)

APN: 147-25-039B

Arizona Maricopa County Glendale 85301

7126 N 55th Ave, Glendale, AZ

Not Listed for Sale

MultiFamily

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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