NOT LISTED FOR SALE

9238 N 7th Ave Phoenix, AZ 85021

North Mountain Village Neighborhood
-- Bed
1 Bath
784 Sq Ft
6,534 Sq Ft Lot

Last Sold November 25, 2020

Last sale price $735,000 $938 Per Sq Ft

101 Days on Market

Highlights

  • Evaporated cooling system
  • Ceiling Fan
  • Multiple Heating Units
  • Sunnyslope High School Rated A
  • Vinyl Flooring

About This Home

As of November 2020

Income, Income, Income!!!

Shangri-la is a high performing investment opportunity with immediate value-add upside. Buyer can add an additional $4,750-$5,350 of annual income by raising rents, charging for laundry and finishing out the RUBS program.

Shangri-la sits just over half a mile away from HonorHealth John C. Lincoln Medical Center, a 266-bed, full service hospital and all the retail shops which support it. Just steps from Shangri-la are the Grand Canal and the North Mountain & Shaw Butte Trailheads, which provide miles of hiking and biking trails.

Shangri-la provides strong cash flow with top of the market cap rates and all right in the heart of Phoenix's Central Corridor.

Last Agent to Sell the Property

Zack Mishkin

Orion Investment Real Estate License #SA566430000 Listed on: 05/27/2020

Last Buyer's Agent

Non-MLS Agent

Non-MLS Office

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,887

Year Built

  • Built in 1949

Lot Details

  • Additional Parcels

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Block Exterior
  • Stucco

Interior Spaces

  • Ceiling Fan
  • Vinyl Flooring

Parking

  • 13 Open Parking Spaces
  • 15 Parking Spaces
  • 2 Covered Spaces
  • Common or Shared Parking

Utilities

  • Evaporated cooling system
  • Multiple cooling system units
  • Cooling System Mounted To A Wall/Window
  • Multiple Heating Units
  • Heating System Uses Natural Gas
  • Heat Pump System
  • Individual Controls for Heating
  • Window Unit Heating System

Listing and Financial Details

  • Tenant pays for gas, electricity
  • The owner pays for gas, electricity, trash collection, water, sewer
  • Tax Lot 1
  • Assessor Parcel Number 158-31-002

Community Details

Overview

  • 4 Buildings
  • 8 Units
  • Building Dimensions are 134x100
  • Foothill Acres Lots 33 48, 58 59 Subdivision

Building Details

  • Operating Expense $27,697
  • Gross Income $84,406
  • Net Operating Income $56,879

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,887

Year Built

Built in 1949

Lot Details

0

Listing Details

  • Cross Street: 7th Avenue & Hatcher
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: C-2
  • Number Of Buildings: 4
  • Ownership: Fee Simple
  • Year Built: 1949
  • Tax Year: 2019
  • Directions: Property is just south of Hatcher on the West side of 7th Avenue.
  • Road Surface Type: Private Street
  • Professional Management Expense: 4049.0
  • Subdivision Name: FOOTHILL ACRES LOTS 33-48, 58-59
  • Cooling:Ceiling Fan(s): Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Other, Vinyl
  • Appliances: F/S Oven/Range, Microwave, Washer/Dryer
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Microwave2: Yes
  • Appliances Included:WasherDryer: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Painted, Stucco, Block, Frame - Wood
  • Roof: Composition
  • Construction:Frame - Wood: Yes
  • Construction:Block: Yes

Garage/Parking

  • Total Covered Spaces: 2.0
  • Parking Features: >1 Space Per Unit, Common
  • Attached Garage: No
  • Open Parking Spaces: 13.0
  • Total Parking Spaces: 15.0
  • General Property Description:Covered Parking Spcs: 2.0
  • General Property Description:Uncvrd Parking Spcs: 13.0
  • General Property Description:Total Parking Spcs: 15.0
  • Parking:Carport: Yes
  • Parking:_greater_1 Space Per Unit: Yes

Utilities

  • Electric: APS
  • Cooling: Ceiling Fan(s), Evaporative Cooling, Window/Wall Unit, Heat Pump, 2 or More Units
  • Heating: Individual, Heat Pump, Window/Wall Unit(s), 2 or More Units, Electric, Natural Gas
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Natural Gas: Yes
  • Heating:Electric: Yes
  • Heating:Individual: Yes
  • Heating:Heat Pump2: Yes
  • Heating:WindowWall Unit(s): Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Exterior Amenities:Landscape Wtr System: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Partially Fenced: Yes
  • Exterior Amenities:Desert Landscaping: Yes

Fee Information

  • Annual Fuel Expense: 1139.0
  • Annual Water Sewer Expense: 5411.0

Schools

  • Junior High Dist: Glendale Union High School District

Lot Info

  • Lot Size: 134x100
  • Additional Parcels: Yes
  • Parcel #: 158-31-002

Multi Family

  • Owner Pays: Other, See Remarks, Gas, Electricity, Trash Collection, Water, Sewer
  • Tenant Pays: Gas, Electricity
  • Number Of Units Total: 8
  • Electric Expense: 8211.0
  • Annual Gross Income: 84405.6
  • Insurance Expense: 1200.0
  • Maintenance Expense: 4000.0
  • Property Net Operating Income: 56879.0
  • Annual Operating Expense: 27697.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 1887.0
  • Tax Book Number: 158.00
  • Tax Lot: 1

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/25/2020 11/25/20 Sold $735,000 -1.7% $938 / Sq Ft
11/06/2020 11/06/20 For Sale $748,000 0.0% $954 / Sq Ft
11/06/2020 11/06/20 Price Changed $748,000 0.0% $954 / Sq Ft
08/31/2020 08/31/20 Price Changed $748,000 -3.2% $954 / Sq Ft
05/27/2020 05/27/20 For Sale $773,000 +113.2% $986 / Sq Ft
10/15/2018 10/15/18 Sold $362,500 -8.2% $462 / Sq Ft
09/10/2018 09/10/18 Price Changed $395,000 -12.2% $504 / Sq Ft
08/28/2018 08/28/18 For Sale $450,000 -- $574 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Zack Mishkin

    Seller's Agent in 2020

    Zack Mishkin

    Orion Investment Real Estate

    (602) 363-6363

    1 in this area

    3 Total Sales

    Zack Mishkin
    Section Image

  • N

    Buyer's Agent in 2020

    Non-MLS Agent

    Non-MLS Office

  • T

    Seller's Agent in 2018

    Thomas Ellis

    Ellis/Arnold & Associates L.L.C.

    Section Image

  • C

    Seller Co-Listing Agent in 2018

    Clay Arnold

    Ellis/Arnold & Associates L.L.C.

    Section Image
  • Christopher Risi

    Buyer's Agent in 2018

    Christopher Risi

    HomeSmart

    (480) 628-5588

    33 Total Sales

    Christopher Risi
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6085760

Arizona Regional Multiple Listing Service (ARMLS)

APN: 158-31-005

Arizona Maricopa County Phoenix 85021 North Mountain Village

9238 N 7th Ave, Phoenix, AZ

This home is located at 9238 N 7th Ave, Phoenix, AZ 85021 since 27 May 2020. This property was built in 1949. 9238 N 7th Ave is a home located in Maricopa County with nearby schools including Mountain View Elementary School, Sunnyslope High School, and Bennett Academy – Venture Site.

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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