Listing ID6199129
Sold For$575,000
StatusClosed
Sold Date4/13/2021
CountyMaricopa
SubdivisionNORTHERN LANAI UNIT 1
Year Built1974
Property TypeMultiple Dwellings
Beautifully landscaped 4-plex w/garages-well maintained by owner who initially lived in the property. Fairly new Vinyl, tile flooring in units. Combination of two and three bed rooms units. Fully occupied with stable tenants. Newer Ac's in two units. Northern Lunai is a great multi-plex subdivision with a nice residential feel. Community includes a play ground and club house. Building has a laundry room with W/D hook-ups for on-site coin-op laundry for extra income. Exterior of the building just painted. Close to shopping, dining and major freeway making it easy for any commute. **Do Not Disturb Tenants**
County
Maricopa
Property Type
Multiple Dwellings
Subdivision
NORTHERN LANAI UNIT 1
Year Built
1974
Zoning
R-5
2 Bedroom Units # Baths
1
2 Bedroom Units Avg SqFt
850
3 Bedrooms Units # Baths
2
3 Bedrooms Units Avg SqFt
1200
Cooling
Central A/C, Individual, Electric, Ceiling Fan(s)
Cooling
yes
Heating
Individual, Central, Electric
Heating
yes
Community Features
Play Area, Clubhouse, No Pool
Country
US
Directions
North on 33rd Ave - west on Harmont Dr. to property
Elementary School
Washington Elementary School - Phoenix
General Property Description Elementary School
Washington Elementary School - Phoenix
General Property Description High School District
Glendale Union High School District
High School District
Glendale Union High School District
Postal City
Phoenix
Township
3N
Water Source
City Franchise, Master Meter
Attached Garage
yes
Construction Materials
Stucco, Frame - Wood
Covered Spaces
4
Electric
SRP, Individual Meter
Garage
yes
General Property Description # of Buildings
1
General Property Description Flood Zone
No
General Property Description Lot Size Dimensions
111.52x67
General Property Description Total # of Units
4
General Property Description Uncvrd Parking Spcs
2
Lot Size Dimensions
111.52x67
Number Of Buildings
1
Number Of Units Total
4
Open Parking Spaces
2
Parking Attached
1
Parking Features
Paved Parking, Attached, 1 Space/Unit, Street Parking
Parking Garage
1
Parking Total
6
Road Surface Type
Asphalt, Sidewalk(s)
Roof
Composition
Sewer
Public Sewer
Buyer Agency Compensation
2.50
Mls Status
Closed
Public Survey Range
2E
Public Survey Section
35
2 Bedroom Units Avg Rent
800
3 Bedrooms Units Avg Rent
900
Cap Rate
4.38
Disclosures
Other (See Remarks)
Gardener Expense
1500
Gross Income
37980
Gross Scheduled Income
37980
Insurance Expense
995
Listing Terms
Other (See Remarks)
Net Operating Income
25163
Operating Expense
12277
Owner Pays
Landscaping
Professional Management Expense
2400
Tax Annual Amount
2042
Tax Book Number
150.00
Tax Lot
21
Tax Year
2020
Tenant Pays
Trash Collection, Electricity, Water, Sewer, Cable TV
Trash Expense
1620
Water Sewer Expense
1920
Contact - Listing ID 6199129
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
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