$2,700,000
Phoenix, AZ 85018
MLS# 6280531
Status: Closed
13 beds | 12 baths
1 / 21
Property Description
Sandstone Condominiums is a low density, single story, garden style condo community located in the highly sought after 85018 area code. The property offers several potential options for investors by 100% of the ownership of the community. It has been previously been approved for 15 luxury townhomes, It can be updated and sold off individually , or can be updated for a light value add. The community is comprised of 10 1 bed/1 bath 676SF units, 1 junior 1 bed/1 bath 468SF unit, and one 2 bed/1 bath 1008SF casita. All units have in suite laundry & under roof parking next to each unit. The community offers a private pool and a large greenbelt with several large shade trees. Roof was replaced within the last year. Seller will consider carry or wrap financing with 40% or more down.
Details
Contract Info
Current Price: $2,700,000
Sold Price: $2,700,000
Status: Closed
List Date: 2021-08-17
Ownership: Fee Simple
Location, Tax & Legal
Map Code/Grid: P35
House Number: 3426
Compass: N
Street Name: 38TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85018
Zip4: 5835
Country: US
County Code: Maricopa
Subdivision: SANDSTONE CONDOMINIUMS
Assessor Number: 127-24-091
Tax Year: 2020
General Property Description
Lot Size Dimensions: IRR
Year Built: 1960
Uncvrd Parking Spcs: 5
Total # of Units: 12
# of Buildings: 3
Zoning: R-3
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District
Legal Info
Township: 2N
Range: 3E
Section: 25
Lot Number: 4
1 Bedroom Units
# 1 Bedroom Units: 11
Avg Rent: 1099
Avg SqFt: 640
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 1350
Avg SqFt: 1008
# Baths: 1
Structure
Bedrooms Total: 13
Bathrooms Total: 12
Sold Info
Loan Type: Other
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Remarks Misc
Cross Street: 38th St & Indian School
Directions: South to Property
Geo Lat: 33.488357
Geo Lon: -112.000421
Status Change Info
Off Market Date: 2021-10-07
Under Contract Date: 2021-09-17
Close of Escrow Date: 2021-10-29
Sold Price: $2,700,000
Income Expenses
Gross Annual Sch Inc: 152400
Net Operating Income: 122728
Property Features
Project Type: 5 - 12 Units
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Concrete; Ceramic Tile
Sale Includes: Land & Building
Community Features: Pool
Appliances Included: Free-Standing Range; Refrigerator; W/D Hookup
Heating: Natural Gas; Individual
Cooling: Electric; Individual
Water Source: City Franchise; Submetered System
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking Features: Attached
Road Surface Type: Asphalt
Owner Pays: See Remarks
Tenant Pays: Water; Electricity; Gas
Source of Fincl Data: Projected Proforma
Showing Notification Methods: Email
Lockbox Type: None
New Financing: Conventional; Owner May Carry; Wraparound
Environmental: None
Listing Office: Better Homes & Gardens Real Estate SJ Fowler
Office Phone: 602-264-8400
Last Updated: March - 24 - 2025
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