$749,900
Phoenix, AZ 85040
MLS# 6075868
Status: Closed
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Property Description
8% CAP RATE! CASH FLOW! Its like having 4 single family homes. Walking distance to Large established well known companies and factories – work opportunities in area are endless! Property features two free standing duplexes (4 total units). Built in 2006, each unit 1200 SqFt w/own 2 car garage & fenced in yard. Three of the units are 4 bed 2 bath and 4th unit (was owner occupied) & redone by the owner with 3 bed (large Master) & 2 baths. All units feature tile throughout ground floor & bathrooms. The kitchens have all been upgraded & feature backsplash, fridge, dishwasher, microwave. All units have stackable washers/dryer. The grounds are well kept with plenty of space in common area. Owner has never had issue renting the units & keeping them full w/good quality tenants. Bring Us an Offer!
Details
Contract Info
Current Price: $720,000
Sold Price: $720,000
Status: Closed
List Date: 2020-05-08
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: R35
House Number: 2731
Compass: E
Street Name: SOUTHGATE
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85040
Zip4: 1572
Country: USA
County Code: Maricopa
Legal Description (Abbrev): PEILA HOMES
Subdivision: PEILA HOMES
Assessor's Map #: 20
Assessor's Parcel #: 110
Add'l Parcels: No
Assessor Number: 122-20-110
Legal: LOT 65 PEILA HOMES MCR 004312
Census Tract: 115200
Tax Municipality: Phoenix
Taxes: 2271
Tax Year: 2019
Marketing Name: PEILA HOMES
General Property Description
Lot Size Dimensions: IRR
Year Built: 2006
Uncvrd Parking Spcs: 11
Total # of Units: 4
# of Buildings: 4
Zoning: R-3
Elementary School: Roosevelt Elementary School
Jr. High School: Percy L Julian School
High School: South Mountain High School
Elementary School District: Roosevelt Elementary District
High School District: Phoenix Union High School District
Remarks & Misc
Cross Street: Broadway & 28th Street
Directions: North on 28th St from Broadway to Jones Ave. Turn left (west) and go one block to Southgate Ave. Turn left and follow Southgate south until it curves; the property is on the left.
Geo Lat: 33.409822
Geo Lon: -112.021986
Status Change Info
Status Change Date: 2020-05-29
Off Market Date: 2020-05-17
Under Contract Date: 2020-05-16
Close of Escrow Date: 2020-05-29
Sold Price: $720,000
Legal Info
Township: 1N
Range: 3E
Section: 23
Lot Number: 65
Income & Expenses
Annual Ins Exp: 1920
Annual Landscape Exp: 790
Annual Maint Exp: 1000
Annual Wtr/Swr Exp: 480
Owner Association: No
Operating Exp: 6461
Gross Annual Sch Inc: 67200
Vacancy Allowance: 0.05
Adjusted Gross Inc: 63840
Totl Mnth Rntal Inc: 5600
Net Operating Income: 60739
Pmt & Rate Info
Cap Rate: 8.1
Equity: 749900
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 1350
Avg SqFt: 1188
# Baths: 2
4 Bedrooms Units
# 4 Bedroom Units: 3
Avg Rent: 1425
Avg SqFt: 1188
# Baths: 2
Sold Info
Loan Type: Other
Loan Years: 30
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: Four Plex
Construction: Frame - Wood
Const - Finish: Painted; Stucco
Roofing: Comp Shingle
Floors: Ceramic Tile; Carpet
Sale Includes: Land & Building; Personal Property
Community Amenities: No Pool; Barbecue
Exterior Amenities: Desert Landscaping; Fenced; Cable TV Available; Patio/Balcony; Pet Restrictions; Separate Storage
Interior Amenities: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds; Shutters
Appliances Included: F/S Oven/Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer; W/D Hookup
Heating: Individual; Central; Heat Pump
Cooling: Ceiling Fan(s); Electric; Individual; Central A/C
Water: City Franchise; Individual Meter
Sewer: Sewer - Public; Sewer-In & Connected
Electric: SRP; Individual Meter
Gas: None
Parking: Garage; Street Parking; >1 Space Per Unit; Attached; Auto Door Opener; Add'l Parking Avail; Free
Roads/Streets: Asphalt; Dedicated Street; Curb(s) & Gutter(s); Sidewalk(s); Alley
Owner Pays: Landscaping; Other; See Remarks
Tenant Pays: Water; Sewer; Electric; Trash; Cable TV
Source of Fincl Data: Provided by Owner; Projected Proforma
Showing Notification Methods: Text; Email; Phone Call
Existing 1st Loan: Conventional
Existing 1st Ln Type: Fixed
Existing 1st Ln Trms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional; Seller May Carry; Wraparound; 1031 Exchange
Reports/Disclosures: Seller Prop Disc Stm
Environmental: None
Listing Office: Tradelands Realty
Last Updated: October - 30 - 2020
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