Listing ID6536511
Sold For$930,000
StatusClosed
Sold Date8/09/2023
CountyMaricopa
SubdivisionFRUITLAND ACRES
Year Built1952
Property TypeMultiple Dwellings
5-Unit, Garden-Style Property, Built in 1952, Fully Renovated in 2021. Unit Mix Consists of (3) Two-Bed / One-Bath Units & (2) One-Bed / One-Bath Units.
Exterior Upgrades Feature a Cosmetic Remodel, New HVACs, Main Sewer, Windows, Doors, & Installation of Covered Parking. Interior Upgrades Feature New Wood-Tile Flooring, White Quartz Countertops, New Cabinetry, Stainless Steel Appliances, Remodeled Bathrooms, & In-Suite Washer / Dryer
Located Within an Arizona Opportunity Zone. Situated on a 0.57 Acre Lot, Zoned R-3, Allowing the Potential to Built More Units. Close Proximity to Grand Canyon University & Easy Access to the I-17 Freeway.
County
Maricopa
Property Type
Multiple Dwellings
Subdivision
FRUITLAND ACRES
Year Built
1952
Zoning
R-3
1 Bedroom Units # Baths
1
1 Bedroom Units Avg SqFt
655
2 Bedroom Units # Baths
1
2 Bedroom Units Avg SqFt
655
Cooling
Other, Electric
Cooling
yes
Flooring
Ceramic Tile, Vinyl
Heating
Electric
Heating
yes
Community Features
No Pool
Country
US
Elementary School District
Alhambra Elementary District
General Property Description Elementary School District2
Alhambra Elementary District
General Property Description High School District
Phoenix Union High School District
High School District
Phoenix Union High School District
Postal City
Phoenix
Township
2N
Water Source
City Franchise
Attached Garage
no
Construction Materials
Painted, Stucco, Frame - Wood
Covered Spaces
2
Electric
APS, Master Meter
General Property Description # of Buildings
2
General Property Description Lot Size Dimensions
24822
General Property Description Total # of Units
5
General Property Description Uncvrd Parking Spcs
5
Lot Size Dimensions
24822
Number Of Buildings
2
Number Of Units Total
5
Open Parking Spaces
5
Parking Carport
1
Parking Features
Street Parking, Common
Parking Total
7
Road Surface Type
Concrete
Roof
Composition
Sewer
Public Sewer
Buyer Agency Compensation
2.00
Mls Status
Closed
Public Survey Range
2E
Public Survey Section
24
1 Bedroom Units Avg Rent
1538
2 Bedroom Units Avg Rent
1617
Cap Rate
5.86
Disclosures
None
Gross Income
40485.5
Gross Scheduled Income
79121
Listing Terms
Conventional
Net Operating Income
58863
Operating Expense
1910
Owner Pays
Electricity, Trash Collection, Water, Sewer, Landscaping
Tax Annual Amount
1910
Tax Book Number
154.00
Tax Lot
13
Tax Year
2022
Tenant Pays
Cable TV
Contact - Listing ID 6536511
Michael Bohlman
2425 S. Stearman Dr. Suite 120
Chandler, AZ 85286
Phone: 480-797-3800
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