Listing ID6232433
Sold For$465,000
StatusClosed
Sold Date6/30/2021
CountyMaricopa
SubdivisionVISTA INCOME ESTATES UNIT 3
Year Built1957
Property TypeMultiple Dwellings
Fantastic opportunity to own three darling cottages! Remodeling on the inside in 2016 and fresh remodeling on the outside in 2021 make these cottages so inviting. Each unit has 2 bedrooms, 1 bathroom, kitchen, and living area. Additionally, the cottages each have a fenced yard, with unit 3 area being quite large. Each yard has washer/dryer hookups and Unit 1 includes a washer/dryer. Unit 1 just got a new tenant this month on a month to month lease at $1200. Unit 2 is on a month to month lease, and Unit 3 will be vacant at the end of May and ready for an owner/occupant or a new tenant. There is definitely value to be added with increased rents. With increased rents, the CAP will be 8.5 All this in a convenient location! Don't delay! These cottages will go fast!
County
Maricopa
Property Type
Multiple Dwellings
Subdivision
VISTA INCOME ESTATES UNIT 3
Year Built
1957
Zoning
R-3
2 Bedroom Units # Baths
1
2 Bedroom Units Avg SqFt
668
Cooling
Central A/C, Individual, Heat Pump
Cooling
yes
Heating
Heat Pump, Electric
Heating
yes
Community Features
No Pool
Country
US
Directions
From Glendale and I-17, drive north on the access/frontage road. Properties will be on the east side of the road, just south of Hayward.
Elementary School
Orangewood School
Elementary School District
Washington Elementary District
General Property Description Elementary School
Orangewood School
General Property Description Elementary School District2
Washington Elementary District
General Property Description High School
Washington High School
General Property Description High School District
Glendale Union High School District
General Property Description Jr High School
Orangewood School
High School
Washington High School
High School District
Glendale Union High School District
Middle Or Junior School
Orangewood School
Postal City
Phoenix
Township
2N
Water Source
City Franchise
Attached Garage
no
Construction Materials
Painted, Block
Electric
SRP
General Property Description # of Buildings
3
General Property Description Flood Zone
No
General Property Description Lot Size Dimensions
5760
General Property Description Total # of Units
3
General Property Description Uncvrd Parking Spcs
6
Lot Size Dimensions
5760
Number Of Buildings
3
Number Of Units Total
3
Open Parking Spaces
6
Parking Features
>1 Space Per Unit
Parking Total
6
Road Surface Type
Asphalt, Concrete
Roof
Composition
Sewer
Public Sewer
Mls Status
Closed
Public Survey Range
2E
Public Survey Section
1
2 Bedroom Units Avg Rent
1166
Cap Rate
8
Disclosures
None
Gardener Expense
1200
Gross Income
42000
Gross Scheduled Income
42000
Insurance Expense
795
Listing Terms
No Carry, Conventional, FHA, VA Loan
Maintenance Expense
2000
Net Operating Income
37205
Operating Expense
5553
Owner Pays
Landscaping
Tax Annual Amount
758
Tax Book Number
157.00
Tax Lot
53
Tax Year
2020
Tenant Pays
Trash Collection, Electricity, Water, Sewer, Cable TV
Contact - Listing ID 6232433
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
Data services provided by IDX Broker