Listing ID6415058
Sold For$652,500
StatusClosed
Sold Date9/19/2022
CountyMaricopa
SubdivisionPalomino Point
Year Built1982
Property TypeMultifamily Residential
Property Sub TypeFour Plex
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 Sub Type
Four Plex
Property Type
Multifamily Residential
Sold Date
2022-09-19T00:00:00+00:00
Sold Price
$652,500
Subdivision
Palomino Point
Year Built
1982
Zoning
PAD-13
1 Bedroom Units
1
1 Bedroom Units: Average SqFt
925
1 Bedroom Units: Number of Baths
1
2 Bedroom Units
2
2 Bedroom Units: Average SqFt
1100
2 Bedroom Units: Number of Baths
2
3 Bedrooms Units
1
3 Bedrooms Units: Average SqFt
1300
3 Bedrooms Units: Number of Baths
2
Appliances Included
BI Oven/Range, Compactor, Dishwasher, Disposal, Microwave, Refrigerator, Washer/Dryer
Cooling
Ceiling Fan(s), Electric, Heat Pump, Individual
Floors
Carpet, Ceramic Tile, Vinyl
Heating
Central
Interior Amenities
Fire/Smoke Alarm(s), Mini Blinds, Unfurnished, Vertical Blinds
Total Units
4
Construction
Frame - Wood
Covered Parking Spaces
4
Exterior Amenities
Fenced, Green Landscaping, Landscape Wtr System
Exterior Finish
Stucco
Lot Size Dimensions
5768
Parking
1 Space/Unit, Add'l Parking Avail, Carport
Roads/Streets
Asphalt
Roofing
Foam, Rolled, Tile
Total Parking Spaces
4
Country
USA
Cross Street
Greenway and 29th St
Elementary School
Palomino Primary School
High School
Greenway High School
High School District Number
069 - Paradise Valley Unified District
Jr. High School
Greenway Middle School
Lot Number
52
Map Code/Grid
L35
Range
3E
School District
069 - Paradise Valley Unified District
Section
2
Township
3N
Community Amenities
Barbecue, Clubhouse, Play Area, Pool
Electric
APS
Entry Timestamp
2022-06-10T14:21:34+00:00
Gas
SW Gas
Marketing Name
Palomino Pointe
Owner Association
Yes
Sewer
Sewer - Public
Sold Info: Closing Cost Split
Normal - N
Sold Info: Loan Type
FHA
Sold Info: Loan Years
30
Sold Info: Payment Type
Fixed
Water
City Franchise, Individual Meter
1 Bedroom Units: Average Rent
715.08
2 Bedroom Units: Average Rent
920.76
3 Bedrooms Units: Average Rent
1073.13
Adjusted Gross Income
43557
Annual Insurance Expense
1693
Annual Owner Association Fee
8514
Contingency Type
No
Financial Data Source
Provided by Owner
Gross Annual Scheduled Income
43557
Net Operating Income
32019
New Financing
1031 Exchange, Conventional, FHA
Operating Expense
11537
Owner Pays
Landscaping, Pool/Spa Maintenance, Trash Collection
Sale Includes
Land & Building, Laundry Equipment
Tax Municipality
Phoenix
Taxes
1330
Tenant Pays
Cable TV, Electric, Gas, Water
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
