$3,500,000
Phoenix, AZ 85016
MLS# 6487558
Status: Closed
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Property Description
Reflection is a Luxury 4 home townhome development offering an investor diverse options of ownership and divestment: operate as a multifamily conventional rental project, luxury AirBNB, or divest as single sale townhomes to owner-occupiers. Each home offers up to 4 bedrooms with den and range in size from 2648 sf to 2856sf. Stunning appointments include Hardwood flooring , 10ft ceilings , Gourmet kitchens with 36 inch Jennair Gas range , Large quartz islands, Multi side doors to ground floor patios and large viewing decks off primary bedrooms. Each home also has a bedroom and full bath on the ground floor as well and dual HVAC systems, Tankless Gas HW and EV prepared outlet in each garage . Primary Bath has free standing tub and oversized shower. Yards are generous and private .
Details
Contract Info
Ownership: Fee Simple
Current Price: $3,500,000
Sold Price: $3,500,000
Status: Closed
List Date: 2022-10-31
Location, Tax & Legal
Assessor's Map #: 34
Legal Description (Abbrev): LOT 5 TOWN HEIGHTS MCR 005531
Assessor's Parcel #: 5
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 106400
Taxes: 4369
Legal: LOT 1 ,2,3, and 4 Lamar Townhomes
Marketing Name: Reflection
Map Code/Grid: N35
House Number: 1625
Compass: E
Street Name: LAMAR
St Suffix: Road
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85016
County Code: Maricopa
Subdivision: Lamar Townhomes
Assessor Number: 164-34-005
Tax Year: 2021
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 0
Lot Size Dimensions: irregular
Flood Zone: No
Total # of Units: 4
Elementary School District: Madison Elementary District
High School District: Phoenix Union High School District
Elementary School: Madison #1 Middle School
High School: Central High School
Year Built: 2023
Zoning: R3
Legal Info
Range: 3E
Section: 10
Township: 2N
Lot Number: 1,2,3,4
Project Type
Four Plex: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Siding: 1
Roofing
Foam: 1
Floors
Wood: 1
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 4369
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 240000
Pmt & Rate Info
Cap Rate: 5.72
Equity: 3785000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Text: 1
Email: 1
Phone Call: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Other: 1
Heating
Electric: 1
Individual: 1
Central: 1
2 or More Units: 1
Cooling
Ceiling Fan(s): 1
Central Air: 1
Electric: 1
Heat Pump: 1
2 or More Units: 1
Exterior Amenities
Desert Landscaping: 1
Fenced: 1
Curb(s) & Gutter(s): 1
Patio/Balcony: 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Mini Blinds: 1
Breakfast Bar: 1
Other (See Remarks): 1
Tenant Pays
Gas: 1
Water: 1
Electricity: 1
Trash Collection: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Microwave: 1
Refrigerator: 1
Free-Standing Range: 1
W/D Hookup: 1
Road Surface Type
Concrete: 1
Source of Fincl Data
Projected Proforma: 1
Water Source
City Franchise: 1
Individual Meter: 1
Sewer
Sewer - Public: 1
Sewer-In & Connected: 1
Parking Features
Garage: 1
On Street: 1
>1 Space Per Unit: 1
Attached: 1
Garage Door Opener: 1
Electric
APS: 1
Individual Meter: 1
Gas
SW Gas: 1
Individual Meter: 1
Owner Pays
Sewer: 1
Landscaping: 1
Other: 1
New Financing
Conventional: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
Boundary Survey Avlb: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
# 4 Bedroom Units: 4
Avg Rent: 4750
Avg SqFt: 2752
# Baths: 3
Sold Info
Loan Type: Conventional
Loan Years: 30
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 99000
Seller Concession $/%: %
Remarks Misc
Cross Street: 16th Street and Glendale
Directions: 16th Street block south of Glendale to Lamar , East to property
Geo Lat: 33.536552
Geo Lon: -112.046275
Status Change Info
Off Market Date: 2023-07-29
Under Contract Date: 2023-04-08
Close of Escrow Date: 2023-06-30
Sold Price: $3,500,000
Income Expenses
Gross Annual Sch Inc: 240000
Net Operating Income: 216600
Property Features
Project Type: Four Plex
Construction: Wood Frame
Const - Finish: Painted; Stucco; Siding
Roofing: Foam
Floors: Wood; Ceramic Tile
Sale Includes: Land & Building
Community Features: No Pool; Other
Exterior Amenities: Desert Landscaping; Fenced; Curb(s) & Gutter(s); Patio/Balcony
Interior Features: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds; Breakfast Bar; Other (See Remarks)
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; W/D Hookup
Heating: Individual; Central; 2 or More Units
Cooling: Ceiling Fan(s); Electric; Heat Pump; Central Air; 2 or More Units
Water Source: City Franchise; Individual Meter
Sewer: Sewer - Public; Sewer-In & Connected
Electric: APS; Individual Meter
Gas: SW Gas; Individual Meter
Parking Features: Garage; On Street; >1 Space Per Unit; Attached; Garage Door Opener
Road Surface Type: Concrete
Owner Pays: Landscaping; Other
Tenant Pays: Water; Electricity; Gas; Trash Collection; Cable TV
Source of Fincl Data: Projected Proforma
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Type: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional
Environmental: None
Supplements
The property is located a short distance from downtown Phoenix and The Biltmore Corridor, a premier upscale residential and financial district, Paradise Valley and Old Town Scottsdale
Listing Office: REI Marketing
Last Updated: May - 16 - 2025
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