NOT LISTED FOR SALE

821 N 3rd St Phoenix, AZ 85004

Downtown Phoenix Neighborhood

Estimated Value: $2,151,000 - $3,492,626

2 Beds
-- Bath
6,801 Sq Ft
$415/Sq Ft Est. Value

Last Sold December 22, 2022

Last sale price $3,260,000 $479 Per Sq Ft

Est. 13% decrease in value since last sale

Current estimated payment $16,263/month

184 Days on Market

Highlights

  • Cooling System Mounted To A Wall/Window
  • Ceramic Tile Flooring
  • Heating Available
  • Emerson Elementary School Rated 9+
  • Ceiling Fan

About This Home

As of December 2022

Located in the Roosevelt district in Downtown Phoenix, walking distance to restaurants, shopping, convention center, biomedical complex, U of A and ASU. Combine on Third is a 12 unit mixed use complex with 10 studio apartments, 1 one bedroom unit, and 1 commercial space, currently leased by Lacuna Kava Bar. All units have updated kitchens, bathrooms, built-in closet organizers, WiFi
Routers, and storage partitions between living and bedroom spaces. There is a 1,000 sqft luxury 1 bedroom 2 bath unit above Lacuna Kava, which was remodeled in 2019, highlighted by a viking range. Washer, dryer and 2 full bathrooms. Two furnished studios have consistently functioned as successful AIRBNB and long term furnished rentals.

Last Agent to Sell the Property

Jeremy Solem

Versatile Properties License #SA585119000 Listed on: 05/19/2022

Co-Listed By

Eric Lambert

Versatile Properties License #SA680077000

Last Buyer's Agent

Non-MLS Agent

Non-MLS Office

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $7,094

Year Built

  • Built in 1970

Lot Details

  • 7,013

Home Design

  • Brick Exterior Construction
  • Composition Roof
  • Built-Up Roof

Interior Spaces

  • Ceiling Fan

Flooring

  • Concrete
  • Ceramic Tile
  • Vinyl

Parking

  • 12 Open Parking Spaces
  • 12 Parking Spaces
  • Assigned Parking

Schools

  • Emerson Elementary School
  • Phoenix Prep Academy Middle School
  • Phoenix Union Bioscience High School

Utilities

  • Cooling System Mounted To A Wall/Window
  • Heating Available

Listing and Financial Details

  • Tenant pays for electricity, cable TV
  • The owner pays for trash collection, water, sewer
  • Legal Lot and Block 6 / 23
  • Assessor Parcel Number 111-44-022

Community Details

Overview

  • 12 Units
  • Building Dimensions are 7000 SQ FT
  • Churchill Addition Subdivision

Building Details

  • Operating Expense $49,786
  • Gross Income $230,731
  • Net Operating Income $180,946

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$7,094

Year Built

Built in 1970

Lot Details

0

Listing Details

  • Cross Street: E Roosevelt St & 3rd St
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: C-DT
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1970
  • Tax Year: 2021
  • Directions: Head west on E Roosevelt St, Head south on 3rd St property on the left corner of 3rd & Garfield
  • Road Surface Type: Asphalt
  • Professional Management Expense: 6000.0
  • Co List Office Mls Id: meto01
  • Co List Office Phone: 602-687-9933
  • Subdivision Name: CHURCHILL ADDITION
  • Construction Brick: Yes
  • Special Features: VirtualTour
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Ceramic Tile, Vinyl, Concrete
  • Appliances: Other (See Remarks), F/S Oven/Range
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Other (See Remarks)56: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Brick
  • Roof: Composition, Built-Up

Garage/Parking

  • Parking Features: Assigned, 1 Space/Unit
  • Attached Garage: No
  • Open Parking Spaces: 12.0
  • Total Parking Spaces: 12.0
  • General Property Description:Uncvrd Parking Spcs: 12.0
  • General Property Description:Total Parking Spcs: 12.0
  • Parking:Assigned: Yes
  • Parking:_one_ SpaceUnit: Yes

Utilities

  • Electric: APS
  • Cooling: Wall/Window Unit(s), Ceiling Fan(s)
  • Heating: Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise, Individual Meter
  • Heating:Electric: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Security Light(s)3: Yes
  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Unfurnished: Yes
  • Interior Amenities:Drapes2: Yes
  • Interior Amenities:Furnished: Yes

Fee Information

  • Annual Fuel Expense: 804.0
  • Trash Expense: 2245.0
  • Annual Water Sewer Expense: 7598.0

Schools

  • Elementary School: Emerson Elementary School
  • High School: Phoenix Union Bioscience High School
  • Junior High Dist: Phoenix Union High School District
  • Middle Or Junior School: Phoenix Prep Academy

Lot Info

  • Lot Size: 7000 SQ FT
  • Additional Parcels: No
  • Parcel #: 111-44-022

Multi Family

  • Owner Pays: See Remarks, Trash Collection, Water, Sewer
  • Tenant Pays: Electricity, Cable TV
  • Number Of Units Total: 12
  • Annual Gross Income: 230731.2
  • Insurance Expense: 8175.0
  • Maintenance Expense: 7300.0
  • Property Net Operating Income: 180946.0
  • Annual Operating Expense: 49786.0
  • Vacancy Allowance Rate: 0.02

Tax Info

  • Tax Annual Amount: 7094.0
  • Tax Block: 23
  • Tax Book Number: 111.00
  • Tax Lot: 6

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 19, 2022
Closed on
Dec 22, 2022
Sold by
Combine On Third Llc
Bought by
4Gracie Llc
Seller's Agent
Jeremy Solem
Versatile Properties
Buyer's Agent
Non-MLS Agent
Non-MLS Office
List Price
$3,500,000
Sold Price
$3,260,000
Premium/Discount to List
-$240,000
-6.86%
Total Days on Market
184
Views
11
Current Estimated Value
$2,821,813

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$438,187
Avg. Annual Appreciation
-3.69%
Original Mortgage
$1,650,000
Outstanding Balance
$1,611,158
Interest Rate
7.08%
Mortgage Type
New Conventional
Estimated Equity
$1,352,894

Purchase Details

Closed on
May 31, 2017
Sold by
Marill Moore Studios Llc
Bought by
Combine On Third Llc

Purchase Details

Closed on
Oct 11, 2011
Sold by
Rainey R Wayne
Bought by
Marill Moore Studios Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$395,000
Interest Rate
4.16%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 23, 1999
Sold by
Milicevic Novica
Bought by
Rainey R Wayne

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$95,000
Interest Rate
7.05%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Jun 1, 1978
Sold by
L M C Investment Inc
Bought by
Milicevi Novica and Milicevic Adelheid E
Source: Public Records

Range of Values:

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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
4Gracie Llc $3,260,000 Landmark Title
Combine On Third Llc $1,500,000 Premier Title Agency
Marill Moore Studios Llc $400,000 Accommodation
Rainey R Wayne $150,000 Security Title Agency
Milicevi Novica -- Chicago Title Insurance Co
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 4Gracie Llc $1,650,000
Previous Owner Marill Moore Studios Llc $450,000
Previous Owner Marill Moore Studios Llc $525,000
Previous Owner Marill Moore Studios Llc $395,000
Previous Owner Rainey R Wayne $20,112
Previous Owner Rainey R Wayne $105,000
Previous Owner Rainey R Wayne $95,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/22/2022 12/22/22 Sold $3,260,000 -6.9% $479 / Sq Ft
11/18/2022 11/18/22 Pending -- -- --
09/22/2022 09/22/22 For Sale $3,500,000 0.0% $515 / Sq Ft
09/22/2022 09/22/22 Price Changed $3,500,000 +7.4% $515 / Sq Ft
08/19/2022 08/19/22 Off Market $3,260,000 -- --
07/29/2022 07/29/22 Price Changed $3,999,900 -11.0% $588 / Sq Ft
05/18/2022 05/18/22 For Sale $4,495,000 -- $661 / 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 $7,231 $53,411 -- --
2024 $7,248 $51,496 -- --
2023 $7,248 $93,148 $64,096 $29,052
2022 $7,089 $79,612 $51,488 $28,124
2021 $7,094 $80,819 $52,101 $28,718
2020 $7,176 $60,331 $37,884 $22,447
2019 $7,164 $56,795 $35,395 $21,400
2018 $7,042 $53,296 $31,662 $21,634
2017 $11,553 $73,170 $48,186 $24,984
2016 $11,221 $69,246 $45,036 $24,210
2015 $10,672 $66,157 $44,937 $21,220
Source: Public Records

Agents Affiliated with this Home

  • Jeremy Solem

    Seller's Agent in 2022

    Jeremy Solem

    Versatile Properties

    (602) 327-7538

    2 in this area

    50 Total Sales

    Jeremy Solem
    Section Image

  • E

    Seller Co-Listing Agent in 2022

    Eric Lambert

    Versatile Properties

    (602) 687-9933

    2 in this area

    54 Total Sales

    Eric Lambert
    Section Image

  • N

    Buyer's Agent in 2022

    Non-MLS Agent

    Non-MLS Office

See All Agents

Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6401952

Arizona Regional Multiple Listing Service (ARMLS)

APN: 111-44-022

Arizona Maricopa County Phoenix 85004 Downtown Phoenix

821 N 3rd St, Phoenix, AZ

This home is located at 821 N 3rd St, Phoenix, AZ 85004 since 19 May 2022 and is currently estimated at $2,821,813, approximately $414 per square foot. This property was built in 1970. 821 N 3rd St is a home located in Maricopa County with nearby schools including Emerson Elementary School, Phoenix Coding Academy, and Central High 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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