NOT LISTED FOR SALE

Estimated Value: $525,000 - $4,110,336

-- Bed
-- Bath
1,200 Sq Ft
$2,325/Sq Ft Est. Value

Last Sold May 21, 2021

Last sale price $2,525,000 $2,104 Per Sq Ft

Est. 11% increase in value since last sale

Current estimated payment $15,022/month

11 Days on Market

Highlights

  • Cooling Available
  • Ceramic Tile Flooring
  • Heat Pump System
  • Sunnyslope High School Rated A

About This Home

As of May 2021

Westmere is a low density, garden style community of 25 units in North Phoenix. Constructed in 1976,the community is comprised of 24 one and two bedroom units and a converted laundry room. Average unit size is 602 SF. Roofs were recently redone and a majority of the rooftop ACs are new. Some interior units have been upgraded. The property is individually metered for electricity and water. Westmere represents a great value add opportunity for a new owner through continued unit upgrade/conversion and lease burn-off/increases. (seven of the units have been converted from 1-bed units to 2-beds.) Unit conversions bring an approximate $200 per unit increase. A new owner can further enhance the asset by converting eight more units into 2-beds, adding backyards and converting the... ...and converting the laundry room back into a rental unit. This North Phoenix neighborhood is a high demand area situated close to the Phoenix core and is fast evolving with new development andapartment upgrades. Westmere represents a great value, both on a price per unit and price per square foot basis. Buyer to verify zoning, unit counts, and all facts regarding conversion.

Last Agent to Sell the Property

Mark Skelpsa

HomeSmart Realty License #SA642313000 Listed on: 03/09/2021

Last Buyer's Agent

Mark Skelpsa

Blue Saguaro Commercial Realty, LLC License #SA642313000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,556

Year Built

  • Built in 1977

Lot Details

  • 1

Home Design

  • Built-Up Roof
  • Block Exterior
  • Stucco

Flooring

  • Concrete
  • Ceramic Tile

Parking

  • 54 Open Parking Spaces
  • 54 Parking Spaces
  • Over 1 Space Per Unit

Utilities

  • Cooling Available
  • Heat Pump System
  • Individual Controls for Heating

Listing and Financial Details

  • The owner pays for trash collection, water, sewer
  • Tax Lot 50
  • Assessor Parcel Number 158-33-026-A

Community Details

Overview

  • 9 Buildings
  • 25 Units
  • Building Dimensions are Unk
  • Foothill Acres Lots 33 48 & 58 59 Subdivision

Building Details

  • Operating Expense $2,556

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,556

Year Built

Built in 1977

Lot Details

0

Listing Details

  • Cross Street: 13th Avenue and Hatcher
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R-4
  • Number Of Buildings: 9
  • Ownership: Fee Simple
  • Year Built: 1977
  • Tax Year: 2020
  • Directions: North on 13th Avenue to property
  • Road Surface Type: Asphalt
  • Subdivision Name: FOOTHILL ACRES LOTS 33-48 & 58-59
  • Tax Parcel Letter: A
  • Water Source City Franchise2: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Ceramic Tile, Concrete
  • Appliances: Free-Standing Range, Refrigerator
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Stucco, Block
  • Roof: Built-Up
  • Construction:Block: Yes

Garage/Parking

  • Parking Features: >1 Space Per Unit
  • Attached Garage: No
  • Open Parking Spaces: 54.0
  • Total Parking Spaces: 54.0
  • General Property Description:Uncvrd Parking Spcs: 54.0
  • General Property Description:Total Parking Spcs: 54.0
  • Parking Features >1 Space Per Unit: Yes

Utilities

  • Electric: Individual Meter
  • Cooling: Heat Pump, Individual
  • Heating: Individual, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes
  • Heating:Individual: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Schools

  • Junior High Dist: Glendale Union High School District

Lot Info

  • Lot Size: Unk
  • Additional Parcels: No
  • Parcel #: 158-33-026-A

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer
  • Number Of Units Total: 25
  • Annual Operating Expense: 2556.0

Tax Info

  • Tax Annual Amount: 2556.0
  • Tax Book Number: 158.00
  • Tax Lot: 50

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Mar 16, 2022
Sold by
Golnazarian Holdings Llc
Bought by
Metgt Llc
Current Estimated Value
$2,790,445

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$3,577,500
Outstanding Balance
$3,339,891
Interest Rate
3.85%
Mortgage Type
New Conventional
Estimated Equity
-$549,446

Purchase Details

Listed on
Mar 9, 2021
Closed on
May 19, 2021
Sold by
Eighty Eight Ranch Llc
Bought by
Golnazarian Holdings Llc
Seller's Agent
Mark Skelpsa
HomeSmart Realty
Buyer's Agent
Mark Skelpsa
HomeSmart Realty
List Price
$2,750,000
Sold Price
$2,525,000
Premium/Discount to List
-$225,000
-8.18%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
2.31%
Original Mortgage
$2,000,000
Interest Rate
3.1%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 28, 2016
Sold by
Gretel Family Properties Llc
Bought by
Eighty Eight Ranch Llc

Purchase Details

Closed on
Jan 30, 2014
Sold by
Hailer Raveen
Bought by
Gretel Family Properties Llc

Purchase Details

Closed on
Jan 27, 2014
Sold by
Hailer Surinder
Bought by
Hailer Raveen

Purchase Details

Closed on
Dec 15, 2012
Sold by
Hailer Avtar S and Hailer Surinder
Bought by
Hailer Raveen

Purchase Details

Closed on
Dec 5, 2008
Sold by
Hailer Avtar S and Hailer Surinder
Bought by
Hailer Avtar S and Hailer Surinder
Source: Public Records

Range of Values:

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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
Metgt Llc $4,150,000 Chicago Title
Golnazarian Holdings Llc $2,525,000 Chicago Title Agency Inc
Eighty Eight Ranch Llc $1,020,000 Pioneer Title Agency Inc
Gretel Family Properties Llc $416,516 Title365 Agency
Hailer Raveen -- Title365 Agency
Hailer Raveen -- None Available
Hailer Avtar S -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Metgt Llc $3,577,500
Previous Owner Golnazarian Holdings Llc $2,000,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/21/2021 05/21/21 Sold $2,525,000 -8.2% $2,104 / Sq Ft
03/20/2021 03/20/21 Pending -- -- --
03/09/2021 03/09/21 For Sale $2,750,000 +5292.2% $2,292 / Sq Ft
09/20/2013 09/20/13 Sold $51,000 +6.3% $32 / Sq Ft
08/20/2013 08/20/13 Pending -- -- --
07/30/2013 07/30/13 For Sale $48,000 -- $30 / 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 $2,725 $22,277 -- --
2024 $2,675 $21,216 -- --
2023 $2,675 $255,810 $51,160 $204,650
2022 $2,588 $158,110 $31,620 $126,490
2021 $2,621 $169,920 $33,980 $135,940
2020 $2,556 $100,050 $20,010 $80,040
2019 $2,509 $104,050 $20,810 $83,240
2018 $2,443 $84,860 $16,970 $67,890
2017 $2,431 $65,010 $13,000 $52,010
2016 $2,387 $60,560 $12,110 $48,450
2015 $2,210 $51,760 $10,350 $41,410
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6204522

Arizona Regional Multiple Listing Service (ARMLS)

APN: 158-33-026A