NOT LISTED FOR SALE

Estimated Value: $839,099

-- Bed
-- Bath
3,288 Sq Ft
$255/Sq Ft Est. Value

Last Sold September 27, 2019

Last sale price $495,000 $151 Per Sq Ft

Est. 70% increase in value since last sale

Current estimated payment $4,816/month

2 Days on Market

Highlights

  • Multiple cooling system units
  • Ceramic Tile Flooring
  • Heat Pump System
  • Mercury Mine Elementary School Rated A
  • Ceiling Fan

About This Home

As of September 2019

Here is your chance to own an income producing 4-plex in a fast growing area of Phoenix! Rare, super convenient set up - all units are on individual water/sewer/garbage/electric meters, and all have private washer and dryer. Owner pays ZERO in utilities! All units have been very nicely maintained and all are currently occupied! Low maintenance desert landscaping. Recently refreshed exterior. Nice quiet area close to Phoenix Mountain Preserve, surrounded by mostly single family homes.

Last Listed By

Malgorzata Baker

HomeSmart License #SA550283000 Listed on: 08/14/2019

HomeSmart

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,546

Year Built

  • Built in 1985

Lot Details

  • 9,060

Home Design

  • Wood Frame Construction
  • Stucco

Flooring

  • Concrete
  • Ceramic Tile

Parking

  • 6 Open Parking Spaces
  • 6 Parking Spaces
  • Free Parking
  • Paved Parking
  • Assigned Parking

Utilities

  • Multiple cooling system units
  • Heat Pump System

Additional Features

  • Ceiling Fan
  • Property fronts an alley

Listing and Financial Details

  • Tenant pays for trash collection, electricity, water, sewer, cable TV
  • The owner pays for landscaping
  • Tax Lot 83
  • Assessor Parcel Number 165-24-039

Community Details

Overview

  • 4 Units
  • Building Dimensions are IRR
  • Ocotillo Hills 4 Subdivision

Building Details

  • Operating Expense $3,391
  • Gross Income $34,504
  • Net Operating Income $31,817

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,546

Year Built

Built in 1985

Lot Details

0

Listing Details

  • Cross Street: 16th Street and Hatcher Rd
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: Multi
  • Number Of Buildings: 1
  • Ownership: Fee Simple
  • Year Built: 1985
  • Tax Year: 2018
  • Directions: North on 16th St to the property on the right
  • Road Frontage Type: Alley
  • Road Surface Type: Asphalt, Sidewalk(s)
  • Subdivision Name: OCOTILLO HILLS 4
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Other, Ceramic Tile, Concrete
  • Appliances: F/S Oven/Range, Washer/Dryer, W/D Hookup
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:WasherDryer: Yes
  • Appliances Included:WD Hookup: Yes
  • Appliances Included:Refrigerator2: Yes
  • Appliances Included:Dishwasher2: Yes

Exterior Features

  • Disclosures: Seller Prop Disc Stm
  • Construction Type: Painted, Stucco, Frame - Wood
  • Roof: See Remarks
  • Construction:Frame - Wood: Yes

Garage/Parking

  • Parking Features: Paved Parking, Free, Assigned, >1 Space Per Unit
  • 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:Free: Yes
  • Parking:_greater_1 Space Per Unit: Yes
  • Parking:Paved Parking: Yes
  • Parking:Assigned: Yes

Utilities

  • Electric: APS
  • Cooling: Ceiling Fan(s), Electric, Heat Pump, Individual, 2 or More Units
  • Heating: Heat Pump, Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Electric: Yes
  • Heating:Heat Pump2: Yes

Condo/Co-op/Association

  • Community Features: Other, See Remarks, No Pool

Association/Amenities

  • Exterior Amenities:Fenced3: Yes
  • Exterior Amenities:PatioBalcony: Yes
  • Interior Amenities:Mini Blinds: Yes
  • Community Amenities:No Pool: Yes
  • Exterior Amenities:Partially Fenced: Yes
  • Exterior Amenities:Desert Landscaping: Yes
  • Interior Amenities:Unfurnished: Yes
  • Interior Amenities:Vertical Blinds2: Yes

Schools

  • Junior High Dist: Paradise Valley Unified District

Lot Info

  • Lot Size: IRR
  • Additional Parcels: No
  • Parcel #: 165-24-039

Multi Family

  • Owner Pays: Landscaping
  • Tenant Pays: Trash Collection, Electricity, Water, Sewer, Cable TV
  • Number Of Units Total: 4
  • Annual Gross Income: 34503.84
  • Insurance Expense: 1245.0
  • Property Net Operating Income: 31817.0
  • Annual Operating Expense: 3391.0
  • Vacancy Allowance Rate: 0.02

Tax Info

  • Tax Annual Amount: 1546.0
  • Tax Book Number: 165.00
  • Tax Lot: 83

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Aug 14, 2019
Closed on
Sep 24, 2019
Sold by
Realpro Rentals Llc
Bought by
Jdo Investments Llc
Seller's Agent
Malgorzata Baker
HomeSmart
Buyer's Agent
Howard Rudin
West USA Realty
List Price
$495,000
Sold Price
$495,000
Total Days on Market
2
Current Estimated Value
$839,099

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$344,099
Avg. Annual Appreciation
9.81%
Original Mortgage
$321,750
Outstanding Balance
$290,088
Interest Rate
4.5%
Mortgage Type
Adjustable Rate Mortgage/ARM
Estimated Equity
$549,011

Purchase Details

Closed on
Feb 1, 2007
Sold by
Opara Zygmunt
Bought by
Realpro Rentals Llc

Purchase Details

Closed on
Dec 30, 2003
Sold by
La Fuente Properties Llc
Bought by
Opara Zygmunt

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$194,400
Interest Rate
5.87%
Mortgage Type
New Conventional

Purchase Details

Closed on
Nov 24, 2003
Sold by
Estrada J Angelo and Estrada Socorro M
Bought by
La Fuente Properties Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$194,400
Interest Rate
5.87%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 8, 2002
Sold by
Jovicic Dusko and Jovicic Stana
Bought by
Estrada J Angelo and Estrada Socorro M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$156,000
Interest Rate
6.78%
Mortgage Type
Commercial

Purchase Details

Closed on
May 18, 2001
Sold by
Jovicic Dusko and Jovicic Stana
Bought by
Jovicic Dusko and Jovicic Stana

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$140,800
Interest Rate
7.03%

Purchase Details

Closed on
Apr 7, 1997
Sold by
Ferrantello Sylvester and Ferrantello Rosa
Bought by
Jovicic Dusko and Jovicic Stana

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$92,000
Interest Rate
7.86%
Mortgage Type
New Conventional

Range of Values:

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Average Value
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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
Jdo Investments Llc $495,000 Pioneer Title Agency Inc
Realpro Rentals Llc -- None Available
Opara Zygmunt $243,000 Guaranty Title Agency
La Fuente Properties Llc -- --
Estrada J Angelo $195,000 Century Title Agency
Jovicic Dusko -- Grand Canyon Title Agency In
Jovicic Dusko $132,000 Grand Canyon Title Agency In
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Jdo Investments Llc $321,750
Previous Owner Opara Zygmunt $280,000
Previous Owner Opara Zygmunt $194,400
Previous Owner Estrada J Angelo $156,000
Previous Owner Jovicic Dusko $140,800
Previous Owner Jovicic Dusko $92,000
Closed Estrada J Angelo $29,250
Closed Opara Zygmunt $36,450
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/27/2019 09/27/19 Sold $495,000 0.0% $151 / Sq Ft
08/16/2019 08/16/19 Pending -- -- --
08/14/2019 08/14/19 For Sale $495,000 -- $151 / 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 $1,694 $17,022 -- --
2024 $1,659 $16,212 -- --
2023 $1,659 $65,700 $13,140 $52,560
2022 $1,642 $46,710 $9,340 $37,370
2021 $1,647 $43,320 $8,660 $34,660
2020 $1,596 $34,470 $6,890 $27,580
2019 $1,598 $29,160 $5,830 $23,330
2018 $1,546 $25,510 $5,100 $20,410
2017 $1,482 $21,500 $4,300 $17,200
2016 $1,457 $19,030 $3,800 $15,230
2015 $1,349 $15,850 $3,170 $12,680
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5965080

Arizona Regional Multiple Listing Service (ARMLS)

APN: 165-24-039