Listing ID6238575
Sold For$800,000
StatusClosed
Sold Date12/07/2021
CountyMaricopa
SubdivisionGRANDVIEW HIGHLANDS
Year Built1961
Property TypeMultiple Dwellings
Excellent investment opportunity located in the highly sought after area of Central Phoenix. This sale includes two building: 4625 & 4631 N 12th Ave. Both are separately parceled. APN#s 155-43-186A & 155-43-187A. $1,700,000 portfolio must buy both buildings and can qualify for commercial or two separate conventional loans at $850,000 each. Well maintained and been updated with major renovations this year. See document tab for list of all capital improvements done. One large 3BR & 2BR unit with two 2BR & 2BA units. There is a 2 car garage and private storage rooms for additional revenue. 3BR rent is $1695 & 2BR rents are currently below market at $1100-$1165. Market 2BR rents are $1,250-$1350 Buyer to verify all facts and figures.
County
Maricopa
Property Type
Multiple Dwellings
Subdivision
GRANDVIEW HIGHLANDS
Year Built
1961
Zoning
R-3
2 Bedroom Units # Baths
2
2 Bedroom Units Avg SqFt
936
3 Bedrooms Units # Baths
2
3 Bedrooms Units Avg SqFt
1092
Cooling
Individual, Heat Pump, Ceiling Fan(s)
Cooling
yes
Heating
Individual, Heat Pump
Heating
yes
Community Features
No Pool
Country
US
Directions
11 Ave and Camelback. Turn South to Highland. Turn West and go to 12 Ave. Turn South and the property is on the East side of the street.
Elementary School District
Osborn Elementary District
General Property Description Elementary School District2
Osborn Elementary District
General Property Description High School District
Phoenix Union High School District
High School District
Phoenix Union High School District
Postal City
Phoenix
Water Source
City Franchise
Attached Garage
no
Construction Materials
Painted, Block
Covered Spaces
3
Electric
APS, Individual Meter
General Property Description # of Buildings
2
General Property Description Lot Size Dimensions
Irr
General Property Description Total # of Units
3
General Property Description Uncvrd Parking Spcs
1
Lot Size Dimensions
Irr
Number Of Buildings
2
Number Of Units Total
3
Open Parking Spaces
1
Parking Carport
1
Parking Features
Free, >1 Space Per Unit, Street Parking, Common
Parking Free
1
Parking Total
4
Road Surface Type
Asphalt, Curb(s) & Gutter(s), Alley
Roof
Composition
Sewer
Public Sewer
Buyer Agency Compensation
3.00
Mls Status
Closed
2 Bedroom Units Avg Rent
1163
3 Bedrooms Units Avg Rent
1695
Cap Rate
4.37
Disclosures
Seller Prop Disc Stm, Sch of Personal Prop
Gross Income
47190.5
Gross Scheduled Income
48300
Insurance Expense
1672
Listing Terms
No Carry, Conventional
Maintenance Expense
1200
Net Operating Income
37178
Operating Expense
10058
Other Expense
600
Owner Pays
Trash Collection, Water, Sewer, Landscaping
Professional Management Expense
3776
Tax Annual Amount
1384
Tax Book Number
155.00
Tax Lot
12
Tax Year
2021
Tenant Pays
Electricity, Cable TV
Water Sewer Expense
1426
Contact - Listing ID 6238575
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
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