Listing ID6384766
Price$1,950,000
StatusActive
CountyMaricopa
SubdivisionVISTA INCOME ESTATES 2
Year Built1968
Property TypeMultifamily Residential
Property Sub Type5 - 12 Units
Morten Apartments is a 9-unit apartment community located in the center of Phoenix just off the hwy I-17 and Northern. The Community is within a walking distance of Orange wood Elementary School. Within less than a 2-mile radius Morten is surrounded by big box stores such as Walmart, Target, Fry's Marketplace, Ross, Harkins Theatre, Bowlero bowling alley, and much more. These stores gives the residents many options to work, shop, and have fun.Martin Apartments is a single story 9 unit complex that consists of 2 studios, (2) 1-bedroom, (4) 2-bedroom, and (1) 3-bedroom units. Each unit is individually metered for electricity. 5 of the 9 units have private yards. There is a storage room for maintenance and a laundry facility that is not currently being used, which adds value for new owner!!
County
Maricopa
Property Sub Type
5 - 12 Units
Property Type
Multifamily Residential
Subdivision
VISTA INCOME ESTATES 2
Year Built
1968
Zoning
r-3
1 Bedroom Units
3
1 Bedroom Units: Average SqFt
650
1 Bedroom Units: Number of Baths
1
2 Bedroom Units
2
2 Bedroom Units: Average SqFt
700
2 Bedroom Units: Number of Baths
1
3 Bedrooms Units
2
3 Bedrooms Units: Average SqFt
750
3 Bedrooms Units: Number of Baths
1
Appliances Included
BI Oven/Range, F/S Oven/Range
Average SqFt
600
Baths
1
Cooling
Central A/C, Electric
Efficiency Units
2
Floors
Ceramic Tile
Heating
Electric
Total Units
9
Construction
Frame - Wood
Exterior Amenities
Guard Gate, Patio/Balcony, Separate Storage
Exterior Finish
Painted
Lot Size Dimensions
18,200
Parking
1 Space/Unit
Roads/Streets
Asphalt
Roofing
Comp Shingle
Total Parking Spaces
9
Country
USA
Cross Street
21st ave and northern
High School District Number
205 - Glendale Union High School District
Lot Number
116
Map Code/Grid
N33
Range
2E
School District
006 - Washington Elementary District
Section
1
Township
2N
Community Amenities
No Pool
Electric
SRP
Entry Timestamp
2022-04-16T05:03:46+00:00
Gas
None
Marketing Name
9 units in phoenix
Owner Association
No
Sewer
Sewer - Public
Vacancy Allowance
0.01
Water
Individual Meter
1 Bedroom Units: Average Rent
1000
2 Bedroom Units: Average Rent
1500
3 Bedrooms Units: Average Rent
1500
Adjusted Gross Income
135265.68
Annual Electric Expense
3842
Annual Insurance Expense
3270
Annual Landscape Expense
4200
Annual Maintenance Expense
3315
Annual Management Expense
1200
Average Rent
1083
Contingency Type
No
Financial Data Source
Provided by Owner
Gross Annual Scheduled Income
136632
Net Operating Income
118482
New Financing
Conventional, No Carry
Operating Expense
18150
Owner Pays
None
Sale Includes
Land & Building
Special Listing Conditions
FIRPTA may apply
Tax Municipality
Phoenix
Taxes
2323
Tenant Pays
Electric, Sewer, Water
Contact - Listing ID 6384766
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
Data services provided by IDX Broker
