Listing ID6224390
Sold For$2,925,000
StatusClosed
Sold Date8/13/2021
CountyMaricopa
SubdivisionCrestview
Year Built1985
Property TypeMultiple Dwellings
Completely renovated 16 unit complex, each having 2 bed/1bath that boasts all the upgrades and is 100% Leased. Designated tenant parking, fresh exterior paint , remote security system and community BBQ area are just a few complex improvements. Inside, every unit has been completely remodeled with new windows, A/C units and air handlers, full sized washer & dryers in the unit. Upgraded tile flooring, granite counter tops, and full bathroom remodel with shower and tub combo are just a few of the many improvements made. See Documents tab for complete list of all improvements. Property is performing well and there is room for rent increase as leases expire.
County
Maricopa
Property Type
Multiple Dwellings
Subdivision
Crestview
Year Built
1985
Zoning
R4
2 Bedroom Units # Baths
1
2 Bedroom Units Avg SqFt
820
Cooling
Heat Pump, Electric
Cooling
yes
Heating
Electric
Heating
yes
Community Features
Barbecue
Country
US
Directions
South on 19th Ave, East on Mountain View Rd. Property on South side. DO NOT DISTURB TENANTS - DRIVE BY ONLY
Elementary School
Washington Elementary School - Phoenix
Elementary School District
Washington Elementary District
General Property Description Elementary School
Washington Elementary School - Phoenix
General Property Description Elementary School District2
Washington Elementary District
General Property Description High School
Sunnyslope High School
General Property Description High School District
Glendale Union High School District
General Property Description Jr High School
Washington Elementary School - Phoenix
High School
Sunnyslope High School
High School District
Glendale Union High School District
Middle Or Junior School
Washington Elementary School - Phoenix
Postal City
Phoenix
Township
3N
Water Source
City Franchise, Master Meter
Attached Garage
no
Construction Materials
Painted, Stucco, Frame - Wood
Electric
APS, Individual Meter
General Property Description # of Buildings
2
General Property Description Flood Zone
No
General Property Description Lot Size Dimensions
irregular
General Property Description Total # of Units
16
General Property Description Uncvrd Parking Spcs
22
Lot Size Dimensions
irregular
Number Of Buildings
2
Number Of Units Total
16
Open Parking Spaces
22
Parking Assigned
1
Parking Features
Paved Parking, Assigned
Parking Total
22
Road Surface Type
Asphalt
Roof
Composition
Sewer
Public Sewer
Buyer Agency Compensation
2.50
Mls Status
Closed
Public Survey Range
3E
Public Survey Section
30
2 Bedroom Units Avg Rent
990
Cap Rate
4.89
Disclosures
None
Electric Expense
402
Gardener Expense
1760
Gross Income
187054.8
Gross Scheduled Income
191520
Insurance Expense
6500
Listing Terms
No Carry, Conventional, 1031 Exchange
Maintenance Expense
1106
Net Operating Income
158855
Operating Expense
27592
Owner Pays
Trash Collection, Water, Sewer, Landscaping
Tax Annual Amount
5724
Tax Block
1
Tax Book Number
158.00
Tax Lot
7
Tax Year
2020
Tenant Pays
Electricity, Cable TV
Trash Expense
5954
Water Sewer Expense
6146
Contact - Listing ID 6224390
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
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