Listing ID6390434
Price$2,599,000
StatusActive
CountyMaricopa
SubdivisionUniversity Addition
Year Built1984
Property TypeMultifamily Residential
Property Sub Type13 - 24 Units
Full exterior paint completed 4/2022. Asphalt completed 7/2021. Polk Street Apartments offers14 one and two bedroom unit mix located in the heart of the Grand Avenue Arts Districts. Just a few blocks to an array of galleries, restaurants, bars, shopping and the Downtown living experience! Community amenities: gated with key fob controlled access, security cameras and onsite laundry facility, Individual electrical meters. 8 of the 14 units have been upgraded, leaving investors the opportunity to add value and revenue with a completed renovation program. Renovated one bedroom rents in this market are well above the current rent structures in place. Investors can capitalize on other income streams with covered parking fees and billed utilities. Current RUBS at $98p/u/p/m
County
Maricopa
Property Sub Type
13 - 24 Units
Property Type
Multifamily Residential
Subdivision
University Addition
Year Built
1984
Zoning
R-5
1 Bedroom Units
13
1 Bedroom Units: Average SqFt
500
1 Bedroom Units: Number of Baths
1
2 Bedroom Units
1
2 Bedroom Units: Average SqFt
550
2 Bedroom Units: Number of Baths
1
Appliances Included
F/S Oven/Range, Refrigerator
Cooling
Window/Wall Unit
Floors
Carpet, Ceramic Tile, Vinyl
Heating
Window/Wall Unit(s)
Interior Amenities
Mini Blinds, Unfurnished
Total Units
14
Construction
Frame - Wood
Exterior Amenities
Partially Fenced, Patio/Balcony, Security Light(s)
Exterior Finish
Painted, Siding
Lot Size Dimensions
10625
Parking
>1 Space Per Unit, Paved Parking
Roads/Streets
Alley, Asphalt, Curb(s) & Gutter(s), Sidewalk(s)
Roofing
Comp Shingle
Total Parking Spaces
16
Country
USA
Cross Street
7th Ave & Van Buren
Elementary School
Kenilworth Elementary School
High School
Central High School
Jr. High School
Kenilworth Elementary School
Lot Number
9
Map Code/Grid
Q34
Range
3E
Section
6
Township
1N
Community Amenities
No Pool
Electric
APS
Entry Timestamp
2022-04-27T22:19:45+00:00
Gas
None
Marketing Name
Polk Street Apartments
Owner Association
No
Sewer
Sewer - Public
Water
City Franchise
1 Bedroom Units: Average Rent
860
2 Bedroom Units: Average Rent
870
Contingency Type
No
Financial Data Source
Books Shwn Accpt Ofr, Projected Proforma, Provided by Owner
New Financing
Conventional, No Carry
Operating Expense
1879
Owner Pays
Electric, Landscaping, Sewer, Trash Collection, Water
Sale Includes
Land & Building
Special Listing Conditions
Accept Backups (CLO)
Tax Municipality
Phoenix
Taxes
1879
Tenant Pays
Cable TV
Contact - Listing ID 6390434
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
Data services provided by IDX Broker
