$1,600,000
Phoenix, AZ 85013
MLS# 22118541
Status: Closed
5624 sqft
1 / 1
Property Description
Excellent investment opportunity located in the highly sought after area of Central Phoenix. This sale includes two building: 4625 & 4631 N 12th Ave. Both are separately parceled. APN#s 155-43-186A & 155-43-187A. Well maintained and been updated with major renovations this year. See document tab for list of all capital improvements done. One Large 3BR & 2BA unit and five 2BR & 2BA units. All units have private storage rooms & there is a 2 car garage for additional revenue. All 2BR rents are currently below market at $1100-$1165. 2 BR Market rents are $1,250-$1350 Buyer to verify all facts and figures.
Details
Maps
Address Information
Street #: 4625-4631
Direction: N
Street Name: 12
Suffix: Avenue
State/Province: AZ
Zip Code: 85013
County: Maricopa
Country: USA
Location Tax Legal
Tax Code: 155-43-186A
Area: Maricopa
Contract Information
Current Price: $1,600,000
Sold Price: $1,600,000
Listing Date: 2021-07-18
Status: Closed
Method of Title: Fee (Simple)
Short Sale: No
Status Change Info
Off Market Date: 2021-10-08
Pending Date: 2021-10-08
Sold Date: 2021-12-06
Sold Price: $1,600,000
Sold Price/SqFt: 284.5
Lot Sz Sold Prc/SqFt: 87.91
Financing: Conventional
Showing Information
Directions: 11 Ave and Camelback Turn South to Highland. Turn West and go to 12 Ave. Turn South and the property is on the East side of the street.
General Property Information
Property Sub-Type: Apartment
Construction Status: Existing
# Units: 6
Total Parking: 8
Multi-Tenant: Yes
Year Built: 1961
Lot Dimensions: irr
Lot Acres: 0.42
Lot Sqft: 18200
Lot Size Source: Assessor
Combined SqFt: 5624
Source of SqFt: Assessor
List Price/SqFt: 302.28
Lot Size Price/SqFt: 93.41
Remarks Misc
Geo Lat: 33.505
Geo Lon: -112.087663
Income
Gross Scheduled Rent: 90240
Vacancy Loss: 2707
Other Income: 650
Adjusted Gross: 88183
Net Opp Income: 88183
Analysis
Cap Rate %: 3.92
Gross Rent Multi: 18.14
Vacancy Rate %: 3
Expenses
Contract Services: 1200
Figures Presented: Actual
Insurance: 3155
Maintenance Supplies: 3955
Resident Manager: 7055
Taxes/Assessments: 2697
Water/Sewer: 3544
Unit Information
Apartment: Low Rise
Apartment Unit Information
# of Units/2 BR: 5
Avg Mo Rent/2 BR: 1000
# of Units/3 BR: 1
Avg Mo Rent/3 BR: 1695
Water Heater
None: none
Electric
Electric Company: APS
Master Meter: No
Landscape - Rear
Other: Artificial Grass
Parking
# Covered Parking: 6
Submit With Offer
Seller Title Company: Empire West Title
Sold Info
Est. Closing Date: 2021-12-06
Property Features
Property Features: Smoke Detector; Storage
Construction: Concrete Block
Roof: Shingle
Fenced Storage: No
Main Cooling: Ceiling Fan(s); Heat Pump
Main Heating: Heat Pump
Gas: None
Sewer: Connected
Water: Public
Accessibility Option: None
Security: Security Lights
Fence: Wood
Landscape - Front: Decorative Gravel; Shrubs; Sprinkler/Drip; Trees
Landscape - Rear: Decorative Gravel; Desert Plantings; Trees
Road Type: Chip/Seal
Parking: Free; Parking Structure
Lot Features: Adjacent to Alley; East/West Exposure
Traffic Count: Unknown
Terms: Cash; Conventional
Possession: Recording
Submit With Offer: Additional Addendum; Income Property Addendum; Lender Pre-Approval; Proof of Funds
Property Disclosures: Addendum; Floor Plan; Inventory List; Lead Based Paint; Leases; Marketing Package Available; Plat Map; Seller Prop Disclosure
Special Conditions: None
Listing Office: Gerchick Real Estate
Last Updated: December - 14 - 2024
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