NOT LISTED FOR SALE

925 E Fairmount Ave Phoenix, AZ 85014

Central City Neighborhood

Estimated Value: $831,000 - $1,049,000

-- Bed
-- Bath
3,084 Sq Ft
$301/Sq Ft Est. Value

Last Sold January 30, 2024

Last sale price $950,000 $308 Per Sq Ft

Est. 2% decrease in value since last sale

Current estimated payment $5,151/month

100 Days on Market

Highlights

  • Cooling Available
  • Ceramic Tile Flooring
  • Heat Pump System
  • Phoenix Coding Academy Rated A
  • Ceiling Fan

About This Home

As of January 2024

Are you looking for a lucrative investment property in the heart of Phoenix, AZ? Look no further! An exceptional 4-plex property at 925 E Fairmount Ave conveniently situated near Banner Hospital and boasting numerous upgrades.
Property Highlights:
Location, Location, Location: Nestled in a highly desirable area of Phoenix, this 4-plex property enjoys close proximity to Banner Hospital, making it a prime spot for potential tenants and a strong rental market.
Fully Occupied: All four units are currently fully occupied, ensuring a steady stream of rental income from day one. No need to worry about vacancies or turnover costs!
Recent Upgrades:** This property has been thoughtfully maintained and upgraded. Newer air conditioners and a newer roof provide peace of mind and reduce maintenance

Last Agent to Sell the Property

Linda Gerchick

Gerchick Real Estate License #BR114848000 Listed on: 10/08/2023

Last Buyer's Agent

Trisha Smith

ProSmart Realty License #SA657602000

ProSmart Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,264

Year Built

  • Built in 1977

Home Design

  • Composition Roof
  • Block Exterior

Interior Spaces

  • Ceiling Fan
  • Ceramic Tile Flooring

Parking

  • 6 Open Parking Spaces
  • 6 Parking Spaces
  • Carport
  • Over 1 Space Per Unit
  • Free Parking

Utilities

  • Cooling Available
  • Heat Pump System
  • Individual Controls for Heating
  • Master Water Meter

Listing and Financial Details

  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 1
  • Assessor Parcel Number 118-05-037-A

Community Details

Overview

  • 4 Units
  • Building Dimensions are irr

Building Details

  • Operating Expense $13,555
  • Gross Income $58,898
  • Net Operating Income $45,382

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,264

Year Built

Built in 1977

Lot Details

0

Listing Details

  • Cross Street: Indian School and 7th Street
  • Property Type: Multiple Dwellings
  • Zoning: R-3
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1977
  • Tax Year: 2023
  • Professional Management Expense: 4715.0
  • Tax Parcel Letter: A
  • Cooling:Ceiling Fan(s): Yes
  • Roofing:Composition: Yes
  • Water Source City Franchise2: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Ceramic Tile
  • Appliances: Free-Standing Range, Disposal, Dishwasher, Refrigerator, W/D Hookup
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:WD Hookup: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Dishwasher2: Yes
  • Appliances Included:Disposal2: Yes

Exterior Features

  • Disclosures: Other (See Remarks), Seller Prop Disc Stm, APOD/Backup Avaible, Sch of Personal Prop
  • Construction Type: Painted, Block
  • Roof: Composition
  • Construction:Block: Yes

Garage/Parking

  • Parking Features: Free, >1 Space Per Unit, Carport
  • Attached Garage: No
  • Open Parking Spaces: 6.0
  • Total Parking Spaces: 6.0
  • General Property Description:Uncvrd Parking Spcs: 6.0
  • General Property Description:Total Parking Spcs: 6.0
  • Parking Features:Carport: Yes
  • Parking Features Free2: Yes
  • Parking Features >1 Space Per Unit: Yes

Utilities

  • Electric: APS
  • Cooling: Ceiling Fan(s), Heat Pump, Individual
  • Heating: Individual, Heat Pump
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: Master Meter, City Franchise
  • Heating:Individual: Yes
  • Heating:Heat Pump2: Yes

Condo/Co-op/Association

  • Community Features: See Remarks

Association/Amenities

  • Exterior Amenities:Landscape Wtr System: Yes
  • Exterior Amenities:Cable TV Available: Yes
  • Exterior Amenities:Desert Landscaping: Yes

Fee Information

  • Annual Water Sewer Expense: 1920.0

Schools

  • Junior High Dist: Phoenix Union High School District

Lot Info

  • Lot Size: irr
  • Additional Parcels: No
  • Parcel #: 118-05-037-A

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Number Of Units Total: 4
  • Annual Gross Income: 58898.4
  • Insurance Expense: 2256.0
  • Maintenance Expense: 1000.0
  • Property Net Operating Income: 45382.0
  • Annual Operating Expense: 13555.0
  • Vacancy Allowance Rate: 0.03

Tax Info

  • Tax Annual Amount: 3264.0
  • Tax Book Number: 118.00
  • Tax Lot: 1

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 8, 2023
Closed on
Jan 30, 2024
Sold by
925 Fairmount Llc
Bought by
Potts Michael
Seller's Agent
Linda Gerchick
Gerchick Real Estate
Buyer's Agent
Trisha Smith
ProSmart Realty
List Price
$1,050,000
Sold Price
$950,000
Premium/Discount to List
-$100,000
-9.52%
Views
31
Current Estimated Value
$927,393

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$22,607
Avg. Annual Appreciation
-1.27%

Purchase Details

Closed on
Nov 28, 2018
Sold by
Simshauser Kevin and Opeka Robert
Bought by
925 Fairmont Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$263,250
Interest Rate
4.5%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 11, 2018
Sold by
Sound Ventures Llc
Bought by
Simshauser Kevin and Opeka Robert

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$263,250
Interest Rate
4.5%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 3, 2003
Sold by
Ambrose Vickie J
Bought by
Ambrose Todd

Purchase Details

Closed on
Aug 6, 2003
Sold by
Evans Raymond J and Evans Edna May
Bought by
Ambrose Todd
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
Potts Michael $950,000 Empire Title Agency
925 Fairmont Llc -- None Available
Simshauser Kevin $351,000 Equity Title Agency Inc
Ambrose Todd -- Stewart Title & Tr Phoenix
Ambrose Todd $160,000 Stewart Title & Tr Phoenix
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Simshauser Kevin $263,250
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
01/30/2024 01/30/24 Sold $950,000 -4.5% $308 / Sq Ft
01/17/2024 01/17/24 Pending -- -- --
11/02/2023 11/02/23 Price Changed $995,000 -5.2% $323 / Sq Ft
10/08/2023 10/08/23 For Sale $1,050,000 -- $340 / 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 $3,500 $26,954 -- --
2024 $3,268 $25,670 -- --
2023 $3,268 $61,270 $12,250 $49,020
2022 $3,249 $47,920 $9,580 $38,340
2021 $3,305 $39,970 $7,990 $31,980
2020 $3,221 $30,170 $6,030 $24,140
2019 $2,014 $29,680 $5,930 $23,750
Source: Public Records

Agents Affiliated with this Home

  • Linda Gerchick

    Seller's Agent in 2024

    Linda Gerchick

    Gerchick Real Estate

    (602) 688-9279

    12 in this area

    114 Total Sales

    Linda Gerchick
    Section Image

  • T

    Buyer's Agent in 2024

    Trisha Smith

    ProSmart Realty

    (602) 909-7206

    2 in this area

    5 Total Sales

    Trisha Smith
    Section Image
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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6615379

Arizona Regional Multiple Listing Service (ARMLS)

APN: 118-05-037A

Arizona Maricopa County Phoenix 85014 Central City

925 E Fairmount Ave, Phoenix, 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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