Listing ID6415058
Sold For$652,500
StatusClosed
Sold Date9/19/2022
CountyMaricopa
SubdivisionPalomino Point
Year Built1982
Property TypeMultiple Dwellings
Excellent Investment Opportunity! This 4 plex, single building multi-family investment consists of 2 - 3 Bed 2 bath units, 1 - 1 Bed 1 bath unit, and 1 - 3 bed 2 bath unit. Building features include updated heating and air, well maintained and professionally managed, stable rent with room to improve to market rates. The complex itself features multiple play areas, a pool and community center. Sellers will be using 1031 exchange. Call with any questions. No showings, drive by only until accepted contract.
County
Maricopa
Property Type
Multiple Dwellings
Subdivision
Palomino Point
Year Built
1982
Zoning
PAD-13
1 Bedroom Units # Baths
1
1 Bedroom Units Avg SqFt
925
2 Bedroom Units # Baths
2
2 Bedroom Units Avg SqFt
1100
3 Bedrooms Units # Baths
2
3 Bedrooms Units Avg SqFt
1300
Cooling
Individual, Heat Pump, Electric, Ceiling Fan(s)
Cooling
yes
Heating
Central
Heating
yes
Community Features
Barbecue, Play Area, Clubhouse, Pool
Country
US
Directions
From Greenway, North on 29th St, left on E Marconi Ave (enter gated community), Left on 28th St, Right on Kathleen, property is Building 52 (sign on the front) on the corner of Kathleen and 28th st.
Elementary School
Palomino Primary School
Elementary School District
Paradise Valley Unified District
General Property Description Elementary School
Palomino Primary School
General Property Description Elementary School District2
Paradise Valley Unified District
General Property Description High School
Greenway High School
General Property Description High School District
Paradise Valley Unified District
General Property Description Jr High School
Greenway Middle School
High School
Greenway High School
High School District
Paradise Valley Unified District
Middle Or Junior School
Greenway Middle School
Postal City
Phoenix
Township
3N
Water Source
City Franchise, Individual Meter
Attached Garage
no
Construction Materials
Stucco, Frame - Wood
Covered Spaces
4
Electric
APS
General Property Description # of Buildings
1
General Property Description Flood Zone
No
General Property Description Lot Size Dimensions
5768
General Property Description Total # of Units
4
Lot Size Dimensions
5768
Number Of Buildings
1
Number Of Units Total
4
Parking Carport
1
Parking Features
Add'l Parking Avail, 1 Space/Unit, Common
Parking Total
4
Road Surface Type
Asphalt
Roof
Tile, Foam, Rolled/Hot Mop
Sewer
Public Sewer
Buyer Agency Compensation
2.00
Mls Status
Closed
Public Survey Range
3E
Public Survey Section
2
1 Bedroom Units Avg Rent
715.08
2 Bedroom Units Avg Rent
920.76
3 Bedrooms Units Avg Rent
1073.13
Cap Rate
4.78
Current Financing
Non Assumable
Disclosures
None
Gross Income
43557
Gross Scheduled Income
43557
Insurance Expense
1693
Listing Terms
Conventional, 1031 Exchange, FHA
Net Operating Income
32019
Operating Expense
11537
Owner Pays
Trash Collection, Landscaping, Pool/Spa Maintenance
Tax Annual Amount
1330
Tax Book Number
214.00
Tax Lot
52
Tax Year
2021
Tenant Pays
Gas, Electricity, Water, Cable TV
Contact - Listing ID 6415058
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
Data services provided by IDX Broker