$5,115,000
Phoenix, AZ 85014
MLS# 6379688
Status: Closed
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Property Description
Location, Location, Location! 813 Marlette Apartments sits directly in the middle of Uptown Phoenix just off the famed 7th Street Corridor and Restaurant Row. Situated on a quiet street still minutes away from great restaurants, Uptown Plaza, and easy freeway access points to SR51 and I-10. The property has 14 units. Including (13) 2/2 units, and (1) is a 1/1 unit. It received a full remodel in 2020 with popular modern finishes. All the units include an in-suite washer and dryer. Several units have large outdoor backyards. The property has a new roof, windows, doors, security system, and more. The property has low maintenance desert-scape and a nice courtyard. Each unit is individually metered. This is a rare and excellent investment in an A location that you don't want to miss!
Details
Documents
Contract Info
Current Price: $5,115,000
Sold Price: $5,115,000
Status: Closed
List Date: 2022-04-06
Ownership: Fee Simple
Location, Tax & Legal
Map Code/Grid: N34
House Number: 813
Compass: E
Street Name: MARLETTE
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85014
Zip4: 1507
Country: US
County Code: Maricopa
Subdivision: ORANGE HEIGHTS LOTS 44, 45 & TR A
Assessor Number: 161-15-035-F
Tax Year: 2021
General Property Description
Lot Size Dimensions: 146x122
Year Built: 1962
Total # of Units: 14
# of Buildings: 1
Zoning: R4
Elementary School District: Madison Elementary District
High School District: Phoenix Union High School District
Legal Info
Township: 2N
Range: 3E
Section: 9
Lot Number: 37
Contact Info
List Agent Cell Phn2: 6127701717
1 Bedroom Units
# 1 Bedroom Units: 1
Avg Rent: 1400
Avg SqFt: 550
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 13
Avg Rent: 1684
Avg SqFt: 929
# Baths: 2
Sold Info
Loan Type: Cash
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: %
Seller Concession to Buyer: 90000
Seller Concession $/%: $
Remarks Misc
Cross Street: 7th Street & Bethany Home Rd
Directions: North on 7th Street, East on Marlette to property on South side of street.
Geo Lat: 33.528922
Geo Lon: -112.06307
Status Change Info
Off Market Date: 2022-05-25
Under Contract Date: 2022-05-12
Close of Escrow Date: 2022-06-24
Sold Price: $5,115,000
Income Expenses
Gross Annual Sch Inc: 311100
Net Operating Income: 261227
Property Features
Project Type: 13 - 24 Units
Construction: Block; Other
Const - Finish: Painted; Other (See Remarks)
Roofing: Other
Floors: Other
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Desert Landscaping; Partially Fenced; Patio/Balcony; Security Light(s)
Interior Features: Fire Sprinklers
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Microwave; Washer/Dryer
Cooling: Electric
Water Source: Master Meter; Other
Sewer: Sewer - Public
Electric: Individual Meter
Gas: Other (See Remarks)
Parking Features: Other
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity
Source of Fincl Data: Projected Proforma
Special: Owner/Agent
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Existing 1st Loan: Conventional
New Financing: Conventional; 1031 Exchange
Environmental: None
Offering Memorandum 
Listing Office: HomeSmart
Last Updated: June - 25 - 2022
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