Listing ID6416996
Price$1,542,500
StatusActive
CountyMaricopa
SubdivisionNILE TRACT BLOCK 2
Year Built1935
Property TypeMultifamily Residential
Property Sub Type5 - 12 Units
Huge developmental opportunity! Property is located within a newly established REINVENTPHX neighborhood. Property location falls within the designated high density MF/Condo Zoning Qualified location. This code regulates development and was created to replace existing zoning to allow for higher urban density along the light rail. Property is being marketed and sold as a developmental opportunity. Rental rates are considerably below current market due to long long term occupation of current tenants.
County
Maricopa
Property Sub Type
5 - 12 Units
Property Type
Multifamily Residential
Subdivision
NILE TRACT BLOCK 2
Year Built
1935
Zoning
R3
1 Bedroom Units
4
1 Bedroom Units: Average SqFt
612
1 Bedroom Units: Number of Baths
1
3 Bedrooms Units
1
3 Bedrooms Units: Average SqFt
1574
3 Bedrooms Units: Number of Baths
2
Appliances Included
Other (See Remarks)
Cooling
Electric, Evaporative Cooling, Window/Wall Unit
Floors
Concrete
Heating
Electric
Interior Amenities
Unfurnished
Other Type
House + Rental Units
Total Units
5
Construction
Block, Frame - Metal, Frame - Wood
Covered Parking Spaces
2
Exterior Finish
Painted
Lot Size Dimensions
57130
Parking
Carport
Roads/Streets
Asphalt, Dirt
Roofing
Built-Up, Comp Shingle, Concrete
Total Parking Spaces
8
Country
USA
Cross Street
17th Avenue & Camelback
High School District Number
210 - Phoenix Union High School District
Lot Number
11
Map Code/Grid
N34
Range
3E
School District
008 - Osborn Elementary District
Section
18
Township
2N
Community Amenities
No Pool
Electric
SRP
Entry Timestamp
2022-06-14T16:42:46+00:00
Gas
SW Gas
Marketing Name
Lang Apartments
Owner Association
No
Sewer
Septic Tank, Sewer - Public
Water
City Franchise
1 Bedroom Units: Average Rent
500
3 Bedrooms Units: Average Rent
850
Adjusted Gross Income
36000
Contingency Type
No
Financial Data Source
Provided by Owner
Gross Annual Scheduled Income
36000
Net Operating Income
25000
New Financing
Other (See Remarks)
Operating Expense
3136
Owner Pays
Water
Sale Includes
Land & Building
Special Listing Conditions
Enterprize Zone
Tax Municipality
Phoenix
Taxes
3136
Tenant Pays
Electric, Gas
Contact - Listing ID 6416996
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
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