NOT LISTED FOR SALE

Phoenix, AZ 85021

North Mountain Village Neighborhood

Estimated Value: $440,000 - $588,000

1 Bed
-- Bath
1,196 Sq Ft
$436/Sq Ft Est. Value

Last Sold August 25, 2017

Last sale price $439,000 $367 Per Sq Ft

Est. 19% increase in value since last sale

Current estimated payment $2,833/month

30 Days on Market

Highlights

  • Evaporated cooling system
  • Ceramic Tile Flooring
  • Heating System Uses Natural Gas
  • Sunnyslope High School Rated A

About This Home

As of August 2017

Here's your opportunity to acquire a low maintenance, 8 unit complex, all 2 bedrooms/1 bath, in the North Central Phoenix area! Recent upgrades in 2016 underline rental increase opportunity through continued value add on next unit turns. Property consists of 4 duplexes on 2 tax parcels/4 units per parcel, for a total of 8 units. Buildings are block constructed with pitched single roofs. Units are individually metered and have small backyards. There is plenty of parking in the front of the property.

Last Agent to Sell the Property

Rick Kehm

Arizona Investment & Mgt, LLC License #SA669796000 Listed on: 05/16/2017

Co-Listed By

Victoria Miachika

REI Marketing License #BR639322000

Last Buyer's Agent

Stacy Fitzgerald

BLD Real Estate License #BR572835000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,534

Year Built

  • Built in 1964

Lot Details

  • Additional Parcels

Home Design

  • Brick Exterior Construction
  • Composition Roof
  • Block Exterior

Flooring

  • Carpet
  • Concrete
  • Ceramic Tile

Parking

  • 8 Open Parking Spaces
  • 8 Parking Spaces
  • On-Street Parking

Utilities

  • Evaporated cooling system
  • Heating System Uses Natural Gas

Listing and Financial Details

  • Tenant pays for gas, electricity
  • The owner pays for trash collection, water, sewer, landscaping
  • Tax Lot 14
  • Assessor Parcel Number 158-34-061

Community Details

Overview

  • 4 Buildings
  • 8 Units
  • Building Dimensions are 8520 Square Feet
  • Turner Terrace Pt Lot 58 Or Foothill Acres Subdivision

Building Details

  • Operating Expense $1,534
  • Gross Income $50,917
  • Net Operating Income $29,616

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,534

Year Built

Built in 1964

Lot Details

0

Listing Details

  • Cross Street: Mountain View Rd and 10th Avenue
  • Property Type: Multiple Dwellings
  • Zoning: R-3, M-M
  • Number Of Buildings: 4
  • Year Built: 1964
  • Tax Year: 2016
  • Road Surface Type: Curb(s) & Gutter(s)
  • Co List Office Mls Id: azim01
  • Co List Office Phone: 602-277-7368
  • Subdivision Name: TURNER TERRACE PT LOT 58 OR FOOTHILL ACRES
  • Construction Brick: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Carpet, Ceramic Tile, Concrete
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator: Yes

Exterior Features

  • Disclosures: Other (See Remarks)
  • Construction Type: Painted, Block, Brick
  • Roof: Composition
  • Construction:Block: Yes

Garage/Parking

  • Parking Features: 1 Space/Unit, Street Parking
  • Attached Garage: No
  • Open Parking Spaces: 8.0
  • Total Parking Spaces: 8.0
  • General Property Description:Uncvrd Parking Spcs: 8.0
  • General Property Description:Total Parking Spcs: 8.0
  • Parking:Street Parking: Yes
  • Parking:_one_ SpaceUnit: Yes

Utilities

  • Electric: APS
  • Cooling: Evaporative Cooling
  • Heating: Natural Gas, Other, See Remarks
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Water Source: City Franchise
  • Heating:Natural Gas: Yes
  • Heating:Other4: Yes
  • Heating:See Remarks3: Yes

Condo/Co-op/Association

  • Community Features: Other, See Remarks

Association/Amenities

  • Community Amenities:Other18: Yes
  • Exterior Amenities:Fenced3: Yes
  • Exterior Amenities:Security Light(s)3: Yes
  • Community Amenities:See Remarks15: Yes
  • Exterior Amenities:Desert Landscaping: Yes

Lot Info

  • Lot Size: 8520 Square Feet
  • Additional Parcels: Yes
  • Parcel #: 158-34-061

Multi Family

  • Owner Pays: Trash Collection, Water, Sewer, Landscaping
  • Tenant Pays: Gas, Electricity
  • Number Of Units Total: 8
  • Annual Gross Income: 50917.15
  • Property Net Operating Income: 29616.0
  • Annual Operating Expense: 1534.0
  • Vacancy Allowance Rate: 0.05

Tax Info

  • Tax Annual Amount: 1534.0
  • Tax Book Number: 158.00
  • Tax Lot: 14

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 16, 2017
Closed on
Aug 18, 2017
Sold by
Thadani Vince P
Bought by
Saal Andrea
Seller's Agent
Rick Kehm
Arizona Investment & Mgt, LLC
Buyer's Agent
Stacy Fitzgerald
BLD Real Estate
List Price
$454,000
Sold Price
$439,000
Premium/Discount to List
-$15,000
-3.3%
Current Estimated Value
$521,978

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$82,978
Avg. Annual Appreciation
2.12%
Original Mortgage
$142,675
Outstanding Balance
$120,744
Interest Rate
4.5%
Mortgage Type
Adjustable Rate Mortgage/ARM
Estimated Equity
$401,234

Purchase Details

Listed on
Jul 25, 2016
Closed on
Sep 19, 2016
Sold by
Avit 1 Llc
Bought by
Thadani Vince P
Seller's Agent
Scott Trevey
REI Marketing
Buyer's Agent
Tina Larsen
Candid Realty
List Price
$399,000
Sold Price
$355,000
Premium/Discount to List
-$44,000
-11.03%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
25.97%
Original Mortgage
$250,000
Interest Rate
3.45%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 14, 2016
Sold by
Hammons Curtis C and Hammons Maria N
Bought by
Bakerson Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$275,000
Interest Rate
3.66%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Jun 13, 2016
Sold by
Lili Rubin Investment Properties Llc
Bought by
Avit 1 Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$275,000
Interest Rate
3.66%
Mortgage Type
Seller Take Back
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Saal Andrea $219,500 Empire West Title Agency Llc
Thadani Vince P $355,000 American Title Svc Agency
Bakerson Llc $190,000 Empire West Title Agency
Avit 1 Llc $344,000 Empire West Title Agency
Lili Rubin Investment Properties Llc $265,000 Empire West Title Agency
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Saal Andrea $142,675
Previous Owner Thadani Vince P $250,000
Previous Owner Avit 1 Llc $275,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
08/25/2017 08/25/17 Sold $439,000 -3.3% $367 / Sq Ft
08/15/2017 08/15/17 Price Changed $454,000 0.0% $380 / Sq Ft
06/14/2017 06/14/17 Pending -- -- --
05/15/2017 05/15/17 For Sale $454,000 +27.9% $380 / Sq Ft
09/23/2016 09/23/16 Sold $355,000 -11.0% $297 / Sq Ft View Prior Sale
08/04/2016 08/04/16 Pending -- -- --
07/25/2016 07/25/16 For Sale $399,000 -- $334 / 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 $909 $7,154 -- --
2024 $859 $6,813 -- --
2023 $859 $36,420 $7,280 $29,140
2022 $831 $25,670 $5,130 $20,540
2021 $842 $21,760 $4,350 $17,410
2020 $821 $19,170 $3,830 $15,340
2019 $806 $15,670 $3,130 $12,540
2018 $785 $11,930 $2,380 $9,550
2017 $781 $11,170 $2,230 $8,940
2016 $766 $10,330 $2,060 $8,270
2015 $710 $8,680 $1,730 $6,950
Source: Public Records

Agents Affiliated with this Home

  • R

    Seller's Agent in 2017

    Rick Kehm

    Arizona Investment & Mgt, LLC

    Section Image
  • Victoria Miachika

    Seller Co-Listing Agent in 2017

    Victoria Miachika

    REI Marketing

    (602) 459-0353

    12 Total Sales

    Victoria Miachika
    Section Image
  • Stacy Fitzgerald

    Buyer's Agent in 2017

    Stacy Fitzgerald

    BLD Real Estate

    (623) 826-5729

    1 in this area

    12 Total Sales

    Stacy Fitzgerald
    Section Image

  • S

    Seller's Agent in 2016

    Scott Trevey

    REI Marketing

  • Tina Larsen

    Buyer's Agent in 2016

    Tina Larsen

    Candid Realty

    (602) 399-0491

    2 in this area

    43 Total Sales

    Tina Larsen
    Section Image
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Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 5606214

Arizona Regional Multiple Listing Service (ARMLS)

APN: 158-34-061

Arizona Maricopa County Phoenix 85021

North Mountain Village

Not Listed for Sale

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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