Listing ID6250604
Sold For$625,000
StatusClosed
Sold Date8/04/2021
CountyMaricopa
SubdivisionVISTA INCOME ESTATES 2
Year Built1944
Property TypeMultiple Dwellings
Great 3-building FOURPLEX property in central PHX area near major freeways and light rail! One 2 Bed/1 Bath unit currently rented for $1,300, one 3/2 rented at $1,250, a 1/1 rented for $750 and one 1/1 that is currently vacant - perfect for new tenant or owner-occupant! There is definitely value to be added with increased rents. Owner has done a great job of staying on top of maintenance. Two new A/Cs in 2018 and one new one in 2019! All units have had their own unique upgrades in the past few years including new windows (A/B - 2019), new roof (D - 2017), new floors/kitchen counters (D - 2019), and new floors/bathrooms/fixtures/plumbing (C - 2020). Pictures depict units when they were last vacant. All units have own storage, electric, and plenty of parking to go around. Great opportunity!
County
Maricopa
Property Type
Multiple Dwellings
Subdivision
VISTA INCOME ESTATES 2
Year Built
1944
Zoning
R3
1 Bedroom Units # Baths
1
1 Bedroom Units Avg SqFt
600
2 Bedroom Units # Baths
1
2 Bedroom Units Avg SqFt
1100
3 Bedrooms Units # Baths
2
3 Bedrooms Units Avg SqFt
1100
Cooling
yes
Flooring
Ceramic Tile, Vinyl
Community Features
No Pool
Country
US
Directions
FROM 19TH AVE & NORTHERN, GO WEST ON NORTHERN AVENUE TO NORTH 21ST AVENUE. THEN GO SOUTH ON 21ST AVENUE TO MORTEN AVENUE. THEN WEST ON MORTEN AVENUE. PROPERTY ON LEFT HAND SIDE
(SOUTH).
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, Frame - Wood
Electric
SRP, Individual Meter
General Property Description # of Buildings
3
General Property Description Lot Size Dimensions
17460
General Property Description Total # of Units
4
General Property Description Uncvrd Parking Spcs
11
Lot Size Dimensions
17460
Number Of Buildings
3
Number Of Units Total
4
Open Parking Spaces
11
Parking Features
Free, >1 Space Per Unit
Parking Free
1
Parking Total
11
Road Surface Type
Asphalt
Roof
Composition, Rolled/Hot Mop
Sewer
Public Sewer
Buyer Agency Compensation
2.50
Mls Status
Closed
Public Survey Range
2E
Public Survey Section
1
1 Bedroom Units Avg Rent
750
2 Bedroom Units Avg Rent
1300
3 Bedrooms Units Avg Rent
1250
Cap Rate
2.56
Disclosures
None
Gardener Expense
1440
Gross Income
48000
Gross Scheduled Income
48000
Insurance Expense
3516
Listing Terms
Conventional, 1031 Exchange, FHA, VA Loan
Maintenance Expense
3600
Net Operating Income
16000
Operating Expense
14691
Owner Pays
Water, Sewer
Professional Management Expense
2400
Tax Annual Amount
1335
Tax Book Number
157.00
Tax Lot
115
Tax Year
2020
Tenant Pays
Trash Collection, Gas, Electricity, Cable TV
Water Sewer Expense
2400
Contact - Listing ID 6250604
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
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