$2,400,000
Phoenix, AZ 85016
MLS# 6586083
Status: Closed
20 beds | 12 baths
1 / 40
Property Description
Prime Opportunity in Biltmore Corridor. 12-unit garden-style apartment complex located in great east Phoenix neighborhood. Eleven out of twelve units completely remodeled with new kitchens and baths. New Roofs on Apartments in 2022/2023. Water lines updated inside the units. Centrally located complex is ideal to add to your portfolio. Block construction with new pitched composition shingle roofs and individually metered for electricity. Additional income from leased laundry. There is room to increase rents and possibly add in unit laundry. Minutes to shopping & dining at Biltmore Fashion Park, Town and Country Mall and so much more. Easy access to the 51 Freeway, downtown Phoenix, bus transportation and employment. Do not walk property or talk to tenants. Inspection with accepted offer
Details
Contract Info
Current Price: $2,400,000
Sold Price: $2,400,000
Status: Closed
List Date: 2023-07-28
Ownership: Fee Simple
Location, Tax & Legal
House Number: 2326
Compass: E
Street Name: PINCHOT
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85016
Zip4: 7832
Country: US
County Code: Maricopa
Subdivision: none
Assessor Number: 119-17-045-A
Tax Year: 2022
General Property Description
Lot Size Dimensions: 120 x 150
Year Built: 1958
Total # of Units: 12
# of Buildings: 3
Zoning: m-h r4
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District
Elementary School: Loma Linda Elementary School
Jr. High School: Loma Linda Elementary School
High School: Camelback High School
Legal Info
Township: 2N
Range: 3E
Section: 27
1 Bedroom Units
# 1 Bedroom Units: 4
Avg Rent: 1250
Avg SqFt: 689
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 8
Avg Rent: 1495
Avg SqFt: 833
# Baths: 1
Structure
Bedrooms Total: 20
Bathrooms Total: 12
Contact Info
List Agent Home Phn: 602-390-8088
Sold Info
Loan Type: Cash
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Remarks Misc
Cross Street: 24th Street & Indian School Road
Directions: South on 24th Street to Pinchot. Turn Right or West on Pinchot. Complex is on North Side. No Sign on Property, Do Not Walk Complex. Inspections with Accepted Offer.
Geo Lat: 33.482402
Geo Lon: -112.031091
Status Change Info
Off Market Date: 2023-12-08
Under Contract Date: 2023-12-08
Close of Escrow Date: 2024-02-16
Sold Price: $2,400,000
Income Expenses
Gross Annual Sch Inc: 203460
Net Operating Income: 159667
Property Features
Project Type: 5 - 12 Units
Construction: Block
Const - Finish: Painted
Roofing: Composition; Rolled
Floors: Vinyl; Ceramic Tile
Sale Includes: Land & Building
Community Features: No Pool; Barbecue
Exterior Amenities: Landscape Water System; Sidewalk(s)
Interior Features: Unfurnished
Appliances Included: Free-Standing Range; Refrigerator; Microwave
Cooling: Electric
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking Features: <1 Space Per Unit
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Projected Proforma
Showing Notification Methods: Phone Call
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 2nd Loan: Other (See Remarks)
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Other (See Remarks)
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: No Carry; 1031 Exchange; Other (See Remarks)
Environmental: Super Fund/WQARF/DOD
Listing Office: West USA Realty
Office Phone: 602-942-4200
Office Email: [email protected]
Last Updated: February - 17 - 2024
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