Listing ID6271383
Sold For$1,550,000
StatusClosed
Sold Date12/13/2021
CountyMaricopa
Year Built1971
Property TypeMultiple Dwellings
AMAZING INVESTMENT OPPORTUNITY! 100% leased with no deferred maintenance. Saguaro on 59th is a single level, block construction with pitched shingle roofs and consists of 10 studio-apartment units. Resident amenities include private, fenced back yards for each unit, shaded turf area for pets, laundry room and private storage lockers. The units are individually metered. Current ownership completed an extensive overhaul to the property in 2021 including roof repairs, paint, signage, landscaping, new water heaters and full interior renovations inclusive of cabinetry, countertops, SS appliances, flooring, fixtures and bathroom remodels. This is the investment you are waiting for.
County
Maricopa
Property Type
Multiple Dwellings
Year Built
1971
Zoning
MULTI
Cooling
Wall/Window Unit(s)
Cooling
yes
Heating
Window/Wall Unit(s), Electric
Heating
yes
Community Features
Barbecue, No Pool
Country
US
Directions
Take 59th Ave to Seldon Ln turn left. Then Turn left on 59th Ln. Property on the left side.
Elementary School
Horizon School
Elementary School District
Glendale Elementary District
General Property Description Elementary School
Horizon School
General Property Description Elementary School District2
Glendale Elementary District
General Property Description High School
Glendale High School
General Property Description High School District
Gilbert Unified District
General Property Description Jr High School
Glendale Landmark Middle School
High School
Glendale High School
High School District
Gilbert Unified District
Middle Or Junior School
Glendale Landmark Middle School
Postal City
Glendale
Township
3N
Water Source
City Franchise, Master Meter
Attached Garage
no
Construction Materials
Painted, Block
Electric
SRP, Individual Meter
General Property Description # of Buildings
2
General Property Description Flood Zone
No
General Property Description Lot Size Dimensions
66X300
General Property Description Total # of Units
10
General Property Description Uncvrd Parking Spcs
20
Lot Size Dimensions
66X300
Number Of Buildings
2
Number Of Units Total
10
Open Parking Spaces
20
Parking Features
Paved Parking
Parking Total
20
Road Surface Type
Asphalt, Private Street, Sidewalk(s)
Roof
Composition
Sewer
Public Sewer
Buyer Agency Compensation
2.50
Mls Status
Closed
Public Survey Range
2E
Public Survey Section
31
Cap Rate
5.33
Disclosures
None
Electric Expense
1049
Gardener Expense
1000
Gross Income
693885600
Gross Scheduled Income
113400
Insurance Expense
3250
Listing Terms
Conventional, 1031 Exchange
Maintenance Expense
5000
Net Operating Income
87990
Operating Expense
28741
Other Expense
367
Owner Pays
Trash Collection, Water, Sewer
Professional Management Expense
7337
Tax Annual Amount
4499
Tax Book Number
143.00
Tax Lot
MB
Tax Year
2020
Tenant Pays
Electricity
Water Sewer Expense
3739
Contact - Listing ID 6271383
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
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