$807,500
Phoenix, AZ 85042
MLS# 6099551
Status: Closed
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Property Description
Alta Vista provides an investor the opportunity to own 6 casita type rental units that provide a single-family feel. All units have their own fenced front and back yards. This property also allows the new owner the opportunity to add value on the current units as well as the option to develop more units on the property. The property is currently 100% occupied and the rents were in place prior to the extensive exterior upgrades completed, allowing new ownership to push rents at lease renewal. The current owner had plans created to add four additional units on the north side of the property. Within the last 3 months the following exterior improvements were completed: modern wood panel fencing, fresh white exterior paint, repaired/resealed roofs, artificial turf, and fresh asphalt.
Details
Maps
Contract Info
Current Price: $807,500
Sold Price: $807,500
Status: Closed
List Date: 2020-07-02
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: R34
House Number: 740
Compass: E
Street Name: ALTA VISTA
St Suffix: Road
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85042
Zip4: 4336
Country: USA
County Code: Maricopa
Legal Description (Abbrev): TH PT NW4 NW4 BEG AT PT FR WHICH SW COR BEARS N 89D 51' W 578.25' TH N 0D 27' W 422.65' TH N 89D 51
Assessor's Map #: 26
Assessor's Parcel #: 48
Add'l Parcels: No
Assessor Number: 114-26-048
Legal: TH PT NW4 NW4 BEG AT PT FR WHICH SW COR BEARS N 89D 51' W 578.25' TH N 0D 27' W 422.65' TH N 89D 51
Census Tract: 116400
Tax Municipality: Phoenix
Taxes: 1318
Tax Year: 2019
Marketing Name: Alta Vista Apartments
General Property Description
Lot Size Dimensions: 113x398
Year Built: 1968
Uncvrd Parking Spcs: 12
Total # of Units: 6
# of Buildings: 6
Zoning: R-3
Elementary School District: Roosevelt Elementary District
High School District: Phoenix Union High School District
Remarks & Misc
Cross Street: Alta Vista Rd and 7th Street
Directions: GPS
Geo Lat: 33.389228
Geo Lon: -112.062959
Status Change Info
Status Change Date: 2020-11-12
Off Market Date: 2020-10-26
Under Contract Date: 2020-10-22
Close of Escrow Date: 2020-11-11
Sold Price: $807,500
Legal Info
Township: 1N
Range: 3E
Section: 33
Income & Expenses
Annual Ins Exp: 1375
Annual Maint Exp: 3000
Annual Mgmt Exp: 7200
Owner Association: No
Annual Other Expense: 4750
Operating Exp: 17643
Gross Annual Sch Inc: 70200
Vacancy Allowance: 2.5
Adjusted Gross Inc: 105300
Totl Mnth Rntal Inc: 6000
Net Operating Income: 52557
Pmt & Rate Info
Cap Rate: 6.18
Equity: 850000
2 Bedroom Units
# 2 Bedroom Units: 6
Avg Rent: 1000
Avg SqFt: 768
# Baths: 1
Sold Info
Loan Type: Cash
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: %
Seller Concession $/%: %
Property Features
Project Type: 5 - 12 Units
Construction: Block
Const - Finish: Painted
Roofing: Comp Shingle
Floors: Ceramic Tile
Sale Includes: Land & Building
Community Amenities: No Pool
Exterior Amenities: Fenced
Appliances Included: Other (See Remarks)
Heating: Other; See Remarks
Cooling: Other; See Remarks
Water: See Remarks
Sewer: Sewer - Public
Electric: Other (See Remarks)
Gas: Other (See Remarks)
Parking: Other (See Remarks)
Roads/Streets: Asphalt
Owner Pays: Water
Tenant Pays: Other (See Remarks)
Source of Fincl Data: Provided by Owner
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
New Financing: No Carry
Reports/Disclosures: None
Environmental: None
Listing Office: City to City Commercial
Last Updated: August - 06 - 2021
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