$4,450,000
Phoenix, AZ 85017
MLS# 5882309
Status: Closed
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Property Description
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Details
Contract Info
Ownership: Fee Simple
Current Price: $4,450,000
Sold Price: $4,450,000
Status: Closed
List Date: 2019-02-11
Location, Tax & Legal
Assessor's Map #: 18
Legal Description (Abbrev): E 166' OF S2 SW4 NW4 SW4 & S 15' OF N2 SW4 NW4 SW4 EX W 58' & EX S 30' RD .78 AC
Assessor's Parcel #: 1
Add'l Parcels: Yes
Tax Municipality: Phoenix
Census Tract: 109001
Taxes: 15909
Legal: E 166' OF S2 SW4 NW4 SW4 & S 15' OF N2 SW4 NW4 SW4 EX W 58' & EX S 30' RD .78 AC
Marketing Name: RADIUS APARTMENTS
Map Code/Grid: P33
House Number: 2602
Compass: W
Street Name: GLENROSA
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85017
Zip4: 4346
County Code: Maricopa
Assessor Number: 154-18-001
Tax Year: 2018
General Property Description
# of Buildings: 7
Uncvrd Parking Spcs: 70
Lot Size Dimensions: irreg
Total # of Units: 72
Elementary School District: Alhambra Elementary District
High School District: Phoenix Union High School District
Year Built: 1979
Zoning: CC-C2
Legal Info
Range: 2E
Section: 24
Township: 2N
Project Type
51 - 99 Units: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Composition: 1
Built-Up: 1
Floors
Vinyl: 1
Sealed: 1
Wood: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 31991
Annual Gas Exp: 4913
Annual Ins Exp: 9424
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 350
Annual Maint Exp: 8051
Annual Mgmt Exp: 24794
Annual Trash Exp: 5671
Annual Wtr/Swr Exp: 17773
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 29955
Operating Exp: 148831
Other Income: 9852
Vacancy Allowance: 0.03
Adjusted Gross Inc: 481985.85
Pmt & Rate Info
Cap Rate: 7.41
Down Payment: 4499000
Equity: 4499000
Down Payment %: 100
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Community Features
Manager Res/Office: 1
Barbecue: 1
Heating
Electric: 1
Central: 1
Cooling
Central Air: 1
Electric: 1
Exterior Amenities
Desert Landscaping: 1
Fenced: 1
Satellite Dish: 1
Cable TV Available: 1
Patio/Balcony: 1
Security Light(s): 1
Interior Features
Unfurnished: 1
Mini Blinds: 1
Tenant Pays
None: 1
Appliances Included
Refrigerator: 1
Free-Standing Range: 1
Road Surface Type
Asphalt: 1
Concrete: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
1 Space/Unit: 1
Electric
APS: 1
Master Meter: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Electric: 1
Gas: 1
Trash Collection: 1
Cable TV: 1
New Financing
Other (See Remarks): 1
Existing 1st Loan
Other (See Rmks): 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Other (See Remarks): 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Other (See Remarks): 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
# Efficiency Units: 48
Avg Rent: 527
Avg SqFt: 390
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 22
Avg Rent: 619
Avg SqFt: 560
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 742
Avg SqFt: 700
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
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: 0
Seller Concession $/%: $
Remarks Misc
Directions: I-17 to Indian school road, West to 27th Avenue, North on 27th to GLENROSA, East to property on north side of road.
Geo Lat: 33.499105
Geo Lon: -112.115043
Status Change Info
Off Market Date: 2019-05-31
Under Contract Date: 2019-02-21
Close of Escrow Date: 2019-06-21
Sold Price: $4,450,000
Income Expenses
Gross Annual Sch Inc: 485000
Net Operating Income: 333411
Property Features
Project Type: 51 - 99 Units
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Composition; Built-Up
Floors: Vinyl; Sealed; Wood
Sale Includes: Land & Building
Community Features: Manager Res/Office; Barbecue
Exterior Amenities: Desert Landscaping; Fenced; Satellite Dish; Cable TV Available; Patio/Balcony; Security Light(s)
Interior Features: Unfurnished; Mini Blinds
Appliances Included: Free-Standing Range; Refrigerator
Heating: Central
Cooling: Electric; Central Air
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS; Master Meter
Gas: SW Gas
Parking Features: 1 Space/Unit
Road Surface Type: Asphalt; Concrete
Owner Pays: Water; Electric; Gas; Trash Collection; Cable TV
Tenant Pays: None
Source of Fincl Data: Owner
Existing 1st Loan: Other (See Rmks)
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: 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: Other (See Remarks)
Environmental: None
Listing Office: Kasten Long Commercial Group
Last Updated: January - 24 - 2025
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