Listing ID6250956
Sold For$1,295,000
StatusClosed
Sold Date8/26/2021
CountyMaricopa
SubdivisionCAMELITA VILLA
Year Built1961
Property TypeMultiple Dwellings
walkways to each unit & beautifully manicured landscaping. All four units have a great view of this courtyard from their living room and the orientation of this property allows for a light / bright feel in each home.
All units have been renovated w/ updated kitchen cabinets, counters (quartz or laminate), stainless steel appliances, laminate wood floors or tile, upgraded tile surrounds in bathrooms, vanities, lighting & more. Each floor-plan has a spacious living room, full size kitchen w/ eat-in dining or breakfast nook, large bedroom(s) & extended length bathrooms. Ample storage within each unit along with each tenant having their own storage unit at the carport. All units have a covered patio area out to the center courtyard; the two north facing units have their own larger private courtyards; & the two units to the west have a larger shared courtyard with a BBQ grill area, artificial grass & seating - all ideal for outdoor entertaining.
The property includes a mix of (2)- 2 bedroom/ 1 bathroom & (2)- 1 bedroom/ 1 bathroom units. There are (2)- 1 bedroom units with long term tenants paying market rents, (1) 2-bedroom unit available at the end of June, 2021 & (1) 2-bedroom unit to be used as a short-term vacation rental or for another long term tenant (currently staged w/ furniture for showings). There are other short term rentals in the area that have consistent occupancy and a proven model for success.
The (2)-two bedroom units each come with their own inside laundry; (1)-one bedroom unit with it's own inside laundry; & (1)-one bedroom unit that has it's own laundry room next to the carport. There are (4)- covered parking spots and (4)-storage units under the carport and additional guest parking at the cul-de-sac.
The foam roof has a new elastomeric topcoat with a 10-year warranty. Unit #2 has a new Trane HVAC system with transferable warranty. All windows and doors have been replaced making for more energy efficient units. The property is within short proximity of the Biltmore Fashion Park, Scottsdale Fashion Square, Old Town restaurants / shops, Sky Harbor Airport & freeways. This is a rare opportunity to buy a unique property in a vibrant and highly desired part of Phoenix.
County
Maricopa
Property Type
Multiple Dwellings
Subdivision
CAMELITA VILLA
Year Built
1961
Zoning
R-3
1 Bedroom Units # Baths
1
1 Bedroom Units Avg SqFt
725
2 Bedroom Units # Baths
1
2 Bedroom Units Avg SqFt
875
Cooling
yes
Flooring
Ceramic Tile, Wood
Heating
yes
Community Features
See Remarks, Barbecue, No Pool
Country
US
Directions
SOUTH TO TURNEY, EAST TO 36TH PLACE SOUTH TO PROPERTY.
Elementary School
Creighton Elementary School
Elementary School District
Creighton Elementary District
General Property Description Elementary School
Creighton Elementary School
General Property Description Elementary School District2
Creighton Elementary District
General Property Description High School
Camelback High School
General Property Description High School District
Phoenix Union High School District
General Property Description Jr High School
Loma Linda Elementary School
High School
Camelback High School
High School District
Phoenix Union High School District
Middle Or Junior School
Loma Linda Elementary School
Postal City
Phoenix
Township
2N
Water Source
City Franchise, Master Meter
Attached Garage
no
Construction Materials
Stone, Slump Block
Covered Spaces
4
Electric
SRP
General Property Description # of Buildings
1
General Property Description Flood Zone
No
General Property Description Lot Size Dimensions
11,919 sf. County Assessor
General Property Description Total # of Units
4
Lot Size Dimensions
11,919 sf. County Assessor
Number Of Buildings
1
Number Of Units Total
4
Parking Carport
1
Parking Features
Other (See Remarks), Paved Parking, 1 Space/Unit, Street Parking, Common
Parking Total
4
Road Surface Type
Gravel, Asphalt
Roof
Foam
Sewer
Public Sewer
Mls Status
Closed
Public Survey Range
3E
Public Survey Section
24
1 Bedroom Units Avg Rent
1305
2 Bedroom Units Avg Rent
2055
Cap Rate
5.23
Current Financing
Not Applicable
Disclosures
Seller Prop Disc Stm
Electric Expense
708.58
Gardener Expense
1700
Gross Income
80652
Gross Scheduled Income
80652
Insurance Expense
1892
Listing Terms
Other (See Remarks), Conventional, 1031 Exchange
Maintenance Expense
701.35
Net Operating Income
65886.72
Operating Expense
14765.28
Other Expense
2074
Owner Pays
Electricity, Trash Collection, Water, Sewer, Landscaping
Tax Annual Amount
3447
Tax Book Number
170.00
Tax Lot
4
Tax Year
2020
Tenant Pays
Electricity
Water Sewer Expense
4242.35
Contact - Listing ID 6250956
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
Data services provided by IDX Broker