For more information on this property, contact Michael Bohlman at 480-797-3800 or mbohlman@outlook.com

8034 S Central Avenue
Phoenix, Arizona AZ 85042-6509
Sold For: $2,200,000
Listing ID 6401984
Status Closed
Year Built 1941

Property Description:

SELLING FOR LAND VALUE! PRIME REDEVELOPMENT OPPORTUNITY IN SOUTH PHOENIX! This is an exciting venture to design, engineer, and build a 48-unit townhome build-to-rent community on 2.7 AC (net) or 3.18 AC (gross) zoned R-3. 0.1 Miles from the Future Light Rail South Central Extension Stop on Baseline Rd. APNs included in Sale: 300-43-025, 300-43-027, 300-43-026, 300-43-028, 300-43-029.

Primary Features

County: Maricopa
Property Type: Multiple Dwellings
Year Built: 1941
Zoning: R-3 and R1-6

Interior

1 Bedroom Units # Baths: 1
Cooling: Wall/Window Unit(s)
Cooling: yes
Heating: Floor Furnace, Wall Furnace
Heating: yes

Location

Community Features: Other, No Pool
Country: US
Directions: Take 7th Ave Exit on the I-17M, go South on S 7th Ave, Turn Left onto W Baseline Rd, Turn right on S Central Ave, Destination on the Right
Elementary School: Valley View Elementary School
Elementary School District: Roosevelt Elementary District
General Property Description Elementary School: Valley View Elementary School
General Property Description Elementary School District2: Roosevelt Elementary District
General Property Description High School: South Mountain High School
General Property Description High School District: Phoenix Union High School District
General Property Description Jr High School: C O Greenfield School
High School: South Mountain High School
High School District: Phoenix Union High School District
Middle Or Junior School: C O Greenfield School
Postal City: Phoenix
Township: 1S
Water Source: City Franchise

External

Attached Garage: no
Construction Materials: See Remarks
Electric: APS
General Property Description # of Buildings: 9
General Property Description Flood Zone: No
General Property Description Lot Size Dimensions: 303.1 x 402.1
General Property Description Total # of Units: 12
Lot Size Dimensions: 303.1 x 402.1
Number Of Buildings: 9
Number Of Units Total: 12
Road Surface Type: Dedicated Street
Roof: See Remarks, Composition
Sewer: Public Sewer

Additional

Mls Status: Closed
Public Survey Range: 3E
Public Survey Section: 5

Financial

1 Bedroom Units Avg Rent: 700
Cap Rate: 2.15
Disclosures: Soil Test, Boundary Survey Avlb, Seller Prop Disc Stm, ALTA Survey Availbl, Development Plan Avl
Electric Expense: 2000
Gross Income: 86400
Gross Scheduled Income: 96000
Insurance Expense: 3000
Listing Terms: Conventional
Maintenance Expense: 12000
Net Operating Income: 68695
Operating Expense: 27305
Owner Pays: Trash Collection, Water
Professional Management Expense: 3600
Tax Annual Amount: 705
Tax Book Number: 300.00
Tax Lot: 6
Tax Year: 2021
Tenant Pays: See Remarks, Electricity
Water Sewer Expense: 6000

Zoning Info


Contact - Listing ID 6401984

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Michael Bohlman

2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800

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