$425,000
Phoenix, AZ 85009
MLS# 6381565
Status: Closed
1 / 1
Property Description
Located in a Qualified Opportunity Zone with tenants in two units and the remaining units are ready for tenants and will be leased at $1250 per month! This property was appraised last December for 600K with the increase in rents at a much higher Cap Rate. This property is a solid long term investment play. Remember that this is master metered for all utilities and PLEASE drive-by only, before submitting offer. Buyer to verify all facts and figures.
Details
Maps
Contract Info
Current Price: $425,000
Sold Price: $425,000
Status: Closed
List Date: 2022-04-09
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: Q33
House Number: 2341
Compass: W
Street Name: Yuma
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85009
Zip4: 6441
Country: USA
County Code: Maricopa
Assessor's Map #: 7
Assessor's Parcel #: 51
Add'l Parcels: No
Assessor Number: 105-07-051
Legal: Legal Description supplied by title to govern
Tax Municipality: Phoenix
Taxes: 383
Tax Year: 2022
Marketing Name: Stable 4 plex
General Property Description
Lot Size Dimensions: 50 x 127
Year Built: 1906
Uncvrd Parking Spcs: 4
Total # of Units: 4
# of Buildings: 1
Zoning: R-3
Elementary School: Alfred F Garcia School
Jr. High School: Alfred F Garcia School
High School: Carl Hayden High School
Elementary School District: Murphy Elementary District
High School District: Phoenix Union High School District
Remarks & Misc
Cross Street: 24th Avenue and Buckeye
Directions: 24th Ave south to Yuma
Yuma west to Property
Property is on the south side of the street
Geo Lat: 33.434748
Geo Lon: -112.110447
Status Change Info
Status Change Date: 2022-12-20
Off Market Date: 2022-12-20
Under Contract Date: 2022-11-06
Close of Escrow Date: 2022-12-20
Sold Price: $425,000
Legal Info
Lot Number: 7
Income & Expenses
Annual Elec Exp: 5000
Annual Ins Exp: 1800
Annual Landscape Exp: 300
Annual Maint Exp: 600
Annual Mgmt Exp: 2880
Annual Wtr/Swr Exp: 2200
Owner Association: No
Annual Other Expense: 600
Operating Exp: 13763
Gross Annual Sch Inc: 57420
Vacancy Allowance: 0.03
Adjusted Gross Inc: 55697.4
Net Operating Income: 41937
Pmt & Rate Info
Cap Rate: 9.32
Equity: 450000
1 Bedroom Units
# 1 Bedroom Units: 3
Avg Rent: 1100
Avg SqFt: 400
# Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 1500
Avg SqFt: 1190
# Baths: 1
Sold Info
Loan Type: FHA
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Seller Assist - A
Buyer Concession $/%: $
Seller Concession to Buyer: 20000
Seller Concession $/%: $
Property Features
Project Type: Four Plex
Construction: Frame - Wood; Brick
Const - Finish: Painted; Stucco
Roofing: Comp Shingle
Floors: Vinyl; Ceramic Tile; Carpet
Sale Includes: Land & Building; Personal Property
Community Amenities: No Pool
Exterior Amenities: Fenced; Partially Fenced; Patio/Balcony; Separate Storage; Security Light(s)
Interior Amenities: Unfurnished; Fire/Smoke Alarm(s)
Appliances Included: F/S Oven/Range; Refrigerator
Heating: Individual; Central; Heat Pump; Window/Wall Unit(s); 2 or More Units
Cooling: Electric; Window/Wall Unit; Individual; Central A/C; 2 or More Units
Water: City Franchise; Master Meter
Sewer: Sewer - Public
Electric: APS; Master Meter
Gas: None
Parking: Street Parking; >1 Space Per Unit
Roads/Streets: Asphalt
Owner Pays: Water; Electric; Trash Collection
Tenant Pays: Cable TV
Source of Fincl Data: Provided by Owner; Projected Proforma
Special: Owner/Agent
Showing Notification Methods: Phone Call
Lockbox Type: None
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional; No Carry; 1031 Exchange
Reports/Disclosures: Seller Prop Disc Stm; APOD/Backup Avaible; Sch of Personal Prop; Other (See Remarks)
Environmental: None
Listing Office: Gerchick Real Estate
Last Updated: December - 20 - 2022
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
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