NOT LISTED FOR SALE

Estimated Value: $555,000 - $705,000

3 Beds
1 Bath
600 Sq Ft
$1,076/Sq Ft Est. Value

Last Sold January 19, 2023

Last sale price $665,000 $1,108 Per Sq Ft

Est. 3% decrease in value since last sale

Current estimated payment $3,459/month

14 Days on Market

Highlights

  • Central Air
  • Ceiling Fan
  • 5-minute walk to Tawa Mini Park
  • Phoenix Coding Academy Rated A
  • Heat Pump System

About This Home

As of January 2023

Are you looking to invest? Here is your perfect business opportunity! This triplex is located in the beautiful and historic Melrose district of Phoenix. On the front of this lot, you will find a three bed, two bath house. On the back of the lot, you will find a duplex that contains two, one bed, one bath units. Both structures are attached by a carport that fits two. This complex has been recently remodeled and is within walking distance of numerous shops, restaurants, bars, and various forms of public transit. The current owner operates a successful short-term vacation rental business on the premises. Please do not disturb tenants, property will be shown by appointment with the listing agent only. There are no current leases to absorb at the time of purchase!

Last Agent to Sell the Property

Kenneth Dann

HomeSmart License #SA674020000 Listed on: 12/06/2022

HomeSmart

Last Buyer's Agent

Renée Ryan

Russ Lyon Sotheby's International Realty License #SA685232000

Russ Lyon Sotheby's International Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,292

Year Built

  • Built in 1965

Lot Details

  • 8,756

Home Design

  • Composition Roof
  • Block Exterior
  • Stucco

Interior Spaces

  • Ceiling Fan

Parking

  • 4 Open Parking Spaces
  • 6 Parking Spaces
  • 2 Covered Spaces
  • Common or Shared Parking

Utilities

  • Central Air
  • Heat Pump System
  • Individual Controls for Heating
  • Master Water Meter

Listing and Financial Details

  • Tenant pays for cable TV
  • Tax Block 4000
  • Assessor Parcel Number 155-37-021

Community Details

Overview

  • 2 Buildings
  • 3 Units
  • Building Dimensions are 135' x 65'
  • Income Acres Subdivision

Building Details

  • Operating Expense $6,691
  • Gross Income $29,465
  • Net Operating Income $22,990

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,292

Year Built

Built in 1965

Lot Details

0

Listing Details

  • Cross Street: 7th Ave. & Camelback
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R3
  • Number Of Buildings: 2
  • Year Built: 1965
  • Tax Year: 2022
  • Road Surface Type: Asphalt
  • Professional Management Expense: 1199.0
  • Subdivision Name: INCOME ACRES
  • Cooling:Ceiling Fan(s): Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator: Yes
  • Appliances Included:Dishwasher: Yes
  • Appliances Included:Microwave2: Yes
  • Appliances Included:WasherDryer: Yes
  • Appliances Included:Other (See Remarks)56: Yes

Exterior Features

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

Garage/Parking

  • Total Covered Spaces: 2.0
  • Parking Features: Common
  • Attached Garage: No
  • Open Parking Spaces: 4.0
  • Total Parking Spaces: 6.0
  • General Property Description:Covered Parking Spcs: 2.0
  • General Property Description:Uncvrd Parking Spcs: 4.0
  • General Property Description:Total Parking Spcs: 6.0
  • Parking:Carport: Yes
  • Parking:Free: Yes
  • Parking:Paved Parking: Yes
  • Parking:Other (See Remarks)24: Yes
  • Parking:_one_ SpaceUnit: Yes

Utilities

  • Electric: SRP, Individual Meter
  • Cooling: Central A/C, Heat Pump, Electric, Ceiling Fan(s)
  • 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: No Pool
  • Amenities: Other

Association/Amenities

  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Interior Amenities:Mini Blinds: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Partially Fenced: Yes
  • Exterior Amenities:Separate Storage: Yes
  • Interior Amenities:Unfurnished: Yes

Fee Information

  • Annual Water Sewer Expense: 1500.0

Schools

  • Elementary School: Other
  • High School: Other
  • Middle Or Junior School: Other

Lot Info

  • Lot Size: 135' x 65'
  • Additional Parcels: No
  • Parcel #: 155-37-021

Multi Family

  • Tenant Pays: Cable TV
  • Number Of Units Total: 3
  • Annual Gross Income: 29464.72
  • Insurance Expense: 1200.0
  • Maintenance Expense: 1500.0
  • Property Net Operating Income: 22990.0
  • Annual Operating Expense: 6691.0
  • Vacancy Allowance Rate: 0.03

Tax Info

  • Tax Annual Amount: 1292.0
  • Tax Block: 4000
  • Tax Book Number: 155.00
  • Tax Lot: TBD

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Dec 6, 2022
Closed on
Jan 19, 2023
Sold by
Martinez Ricardo
Bought by
Warminski Survivors Trust
Seller's Agent
Kenneth Dann
HomeSmart
Buyer's Agent
Renée Ryan
Russ Lyon Sotheby's International Realty
List Price
$650,000
Sold Price
$665,000
Premium/Discount to List
$15,000
2.31%
Views
20
Current Estimated Value
$645,759

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$19,241
Avg. Annual Appreciation
-0.97%
Original Mortgage
$156,000
Outstanding Balance
$150,934
Interest Rate
6.33%
Mortgage Type
New Conventional
Estimated Equity
$494,825

Purchase Details

Listed on
Apr 10, 2018
Closed on
Sep 6, 2018
Sold by
Spb At Coolidge Street Llc
Bought by
Martinez Ricardo
Seller's Agent
Rick Horst
Keller Williams Arizona Realty
Buyer's Agent
Kenneth Dann
HomeSmart
List Price
$415,000
Sold Price
$336,500
Premium/Discount to List
-$78,500
-18.92%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
16.91%
Original Mortgage
$316,951
Interest Rate
4.25%
Mortgage Type
FHA

Purchase Details

Closed on
Jul 7, 2015
Sold by
Spb Consultants Of Az Llc
Bought by
Spb At Coolidge Street Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$580,544
Interest Rate
3.85%
Mortgage Type
Commercial

Purchase Details

Listed on
Sep 2, 2013
Closed on
Mar 27, 2014
Sold by
Jethro Peabody Investments Llc
Bought by
22 Properties Llc
Seller's Agent
Deborah Sparks
Provident Partners Realty
Buyer's Agent
Rick Horst
Keller Williams Arizona Realty
List Price
$205,750
Sold Price
$196,250
Premium/Discount to List
-$9,500
-4.62%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
10.61%
Original Mortgage
$157,000
Interest Rate
4.25%
Mortgage Type
Seller Take Back

Purchase Details

Listed on
Sep 2, 2013
Closed on
Mar 26, 2014
Sold by
22 Properties Llc
Bought by
Spb At Coolidge Street Llc
Seller's Agent
Deborah Sparks
Provident Partners Realty
Buyer's Agent
Rick Horst
Keller Williams Arizona Realty
List Price
$205,750
Sold Price
$196,250
Premium/Discount to List
-$9,500
-4.62%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$157,000
Interest Rate
4.25%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Aug 5, 2009
Sold by
Jethro Peabody Investments Llc
Bought by
22 Properties Llc

Purchase Details

Closed on
Nov 1, 2006
Sold by
Property Quest Dje Inc
Bought by
Jethro Peabody Investments Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$207,000
Interest Rate
6.28%
Mortgage Type
Commercial

Purchase Details

Closed on
Nov 14, 2005
Sold by
Ryan Nolan
Bought by
Property Quest Dje Inc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$252,500
Interest Rate
5.93%
Mortgage Type
Commercial

Purchase Details

Closed on
Oct 7, 2005
Sold by
Sleezer Daniel W and Sleezer Lisa A
Bought by
Ryan Nolan

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$252,500
Interest Rate
5.93%
Mortgage Type
Commercial

Purchase Details

Closed on
Mar 21, 2002
Sold by
Trager Vergene H
Bought by
Sleezer Daniel W and Sleezer Lisa A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$138,050
Interest Rate
6.85%
Mortgage Type
Commercial
Source: Public Records
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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
Warminski Survivors Trust $665,000 First American Title
Martinez Ricardo $336,500 American Title Service Agenc
Spb At Coolidge Street Llc -- Stewart Title & Trust Of Tuc
22 Properties Llc -- Security Title Agency
Spb At Coolidge Street Llc $196,250 Security Title Agency
22 Properties Llc -- Accommodation
Jethro Peabody Investments Llc $211,500 Security Title Agency
Property Quest Dje Inc $245,000 Capital Title Agency Inc
Ryan Nolan $219,000 --
Sleezer Daniel W $153,400 Title Guaranty Agency
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Warminski Survivors Trust $156,000
Previous Owner Martinez Ricardo $316,951
Previous Owner Spb At Coolidge Street Llc $580,544
Previous Owner Spb At Coolidge Street Llc $157,000
Previous Owner Jethro Peabody Investments Llc $207,000
Previous Owner Property Quest Dje Inc $252,500
Previous Owner Ryan Nolan $192,000
Previous Owner Sleezer Daniel W $138,050
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
01/19/2023 01/19/23 Sold $665,000 +2.3% $1,108 / Sq Ft
12/19/2022 12/19/22 Pending -- -- --
12/05/2022 12/05/22 For Sale $650,000 +93.2% $1,083 / Sq Ft
09/12/2018 09/12/18 Sold $336,500 -0.7% $561 / Sq Ft View Prior Sale
08/11/2018 08/11/18 Price Changed $339,000 -2.9% $565 / Sq Ft
07/23/2018 07/23/18 Price Changed $349,000 -4.4% $582 / Sq Ft
07/13/2018 07/13/18 Price Changed $365,000 -3.8% $608 / Sq Ft
05/18/2018 05/18/18 Price Changed $379,500 -5.0% $633 / Sq Ft
04/23/2018 04/23/18 Price Changed $399,500 -3.7% $666 / Sq Ft
04/10/2018 04/10/18 For Sale $415,000 +111.5% $692 / Sq Ft
04/01/2014 04/01/14 Sold $196,250 -4.6% $327 / Sq Ft View Prior Sale
03/12/2014 03/12/14 Pending -- -- --
09/02/2013 09/02/13 For Sale $205,750 -- $343 / 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 $1,392 $10,720 -- --
2024 $1,300 $10,209 -- --
2023 $1,300 $39,970 $7,990 $31,980
2022 $1,292 $27,870 $5,570 $22,300
2021 $1,314 $24,470 $4,890 $19,580
2020 $1,281 $20,600 $4,120 $16,480
2019 $1,225 $17,600 $3,520 $14,080
2018 $1,185 $15,080 $3,010 $12,070
2017 $1,088 $12,410 $2,480 $9,930
2016 $1,049 $10,860 $2,170 $8,690
2015 $976 $9,460 $1,890 $7,570
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6495802

Arizona Regional Multiple Listing Service (ARMLS)

APN: 155-37-021