Listing ID6303571
Sold For$675,000
StatusClosed
Sold Date12/01/2021
CountyMaricopa
SubdivisionCITRUS ACRES LOTS 21 THRU 60
Year Built1964
Property TypeMultiple Dwellings
RARE INVESTMENT OPPORTUNITY IN ARCADIA AREA. Three total four-plexes are available for sale off 38th street, perfect value add opportunity. Multiple upsides to this investment, first......bring rents to market value, second remodel units. Close to shopping, bus routes, light rail and freeways. Surrounded by redevelopment in the ever growing Arcadia area. There are two 2 bedroom/1 bath units and two 1 bedroom/1 bath units per four-plex.
County
Maricopa
Property Type
Multiple Dwellings
Subdivision
CITRUS ACRES LOTS 21 THRU 60
Year Built
1964
Zoning
R4
1 Bedroom Units # Baths
1
1 Bedroom Units Avg SqFt
625
2 Bedroom Units # Baths
1
2 Bedroom Units Avg SqFt
780
Cooling
Heat Pump, Electric
Cooling
yes
Heating
Individual, Electric
Heating
yes
Community Features
No Pool
Country
US
Directions
West on Thomas to 38th Street, North (right) to property address on right.
Elementary School District
Creighton Elementary District
General Property Description Elementary School District2
Creighton Elementary District
General Property Description High School District
Phoenix Union High School District
High School District
Phoenix Union High School District
Postal City
Phoenix
Township
2N
Water Source
City Franchise
Attached Garage
no
Construction Materials
Painted, Stucco, Block
Covered Spaces
4
Electric
SRP
General Property Description # of Buildings
1
General Property Description Flood Zone
No
General Property Description Lot Size Dimensions
unknown
General Property Description Total # of Units
4
Lot Size Dimensions
unknown
Number Of Buildings
1
Number Of Units Total
4
Parking Features
Paved Parking
Parking Total
4
Road Surface Type
Asphalt
Roof
Foam
Sewer
Public Sewer
Mls Status
Closed
Public Survey Range
3E
Public Survey Section
25
1 Bedroom Units Avg Rent
750
2 Bedroom Units Avg Rent
1000
Cap Rate
5.33
Disclosures
None
Gross Income
46740
Gross Scheduled Income
49200
Insurance Expense
2090
Listing Terms
Conventional
Net Operating Income
34633
Operating Expense
8907
Owner Pays
Gas, Trash Collection, Water, Sewer
Professional Management Expense
4424
Tax Annual Amount
1433
Tax Book Number
127.00
Tax Lot
83
Tax Year
2021
Tenant Pays
Electricity
Water Sewer Expense
960
Contact - Listing ID 6303571
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
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