Listing ID6327973
Sold For$650,000
StatusClosed
Sold Date3/01/2023
CountyMaricopa
SubdivisionVEL RU HEIGHTS
Year Built1935
Property TypeMultiple Dwellings
**Please Do Not Disturb Tenants.** Rare find! Three detached homes on one lot! Centrally located near Freeway access, Sky Harbor Airport, Downtown Phoenix, grocery stores & dining. Unit 1 is the front house & has been completely remodeled! NEW FLOORING, CABINETS, APPLIANCES, COUNTERTOPS, PAINT, WINDOWS, CEILING FANS, THE LIST GOES ON! It features 2 bedrooms & 1 bathroom, family room, dining room & a private fenced back yard. Unit 2 has also been remodeled & features 2 bedrooms, 1 bathroom, BONUS ROOM, fireplace & yard. Unit 3 features 1 bedroom & 1 bathroom which has been recently updated with new flooring. Front house could work great for an owner occupied home and continue renting the back two units for extra cash flow. Front house currently on month to month lease.
County
Maricopa
Property Type
Multiple Dwellings
Subdivision
VEL RU HEIGHTS
Year Built
1935
Zoning
R1-6
1 Bedroom Units # Baths
1
1 Bedroom Units Avg SqFt
550
2 Bedroom Units # Baths
1
2 Bedroom Units Avg SqFt
914
Cooling
Central A/C, Electric, Ceiling Fan(s)
Cooling
yes
Efficiency Units # Baths
1
Efficiency Units # Efficiency Units
1
Efficiency Units Avg SqFt
960
Heating
Electric
Heating
yes
Community Features
No Pool
Country
US
Directions
South on 24th St to Oak St, west on Oak 2 blocks to 23rd St, south to property which will be on the
west.
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, Submetered System
Attached Garage
no
Construction Materials
See Remarks, Painted, Stucco, Stone, Frame - Wood
Electric
APS, Individual Meter
General Property Description # of Buildings
3
General Property Description Lot Size Dimensions
x
General Property Description Total # of Units
3
General Property Description Uncvrd Parking Spcs
3
Lot Size Dimensions
x
Number Of Buildings
3
Number Of Units Total
3
Open Parking Spaces
3
Parking Features
Other (See Remarks), Free, Street Parking
Parking Free
1
Parking Total
3
Road Surface Type
Asphalt
Roof
Composition
Sewer
Public Sewer
Buyer Agency Compensation
2.50
Mls Status
Closed
Public Survey Range
3E
Public Survey Section
34
1 Bedroom Units Avg Rent
900
2 Bedroom Units Avg Rent
1200
Cap Rate
4.04
Disclosures
None
Efficiency Units Avg Rent
1300
Gross Income
31800
Gross Scheduled Income
31800
Insurance Expense
1703
Listing Terms
Other (See Remarks), No Carry, Conventional, 1031 Exchange
Net Operating Income
27043
Operating Expense
4757
Owner Pays
Trash Collection, Water, Sewer
Tax Annual Amount
1364
Tax Block
1
Tax Book Number
117.00
Tax Lot
9
Tax Year
2020
Tenant Pays
Electricity, Cable TV
Water Sewer Expense
1690
Contact - Listing ID 6327973
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
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