$335,000
Phoenix, AZ 85009
MLS# 6237488
Status: Closed
1 / 16
Property Description
ATTENTION INVESTORS - grab this turn-key investment before it's gone! Low maintenance, cash flowing property with two permitted units and no HOA! Recently remodeled 3/1 main house and 2/1 guest house, separately metered for electric and both on long term leases with above-market rents. Each unit has a private fenced yard, appliances, full-sized washers and dryers, electric A/C & heat, shared driveway with assigned parking and gated access to entrances and common areas. TENANTS RIGHTS - DO NOT DISTURB
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $335,000
Sold Price: $335,000
Status: Closed
List Date: 2021-05-17
Location, Tax & Legal
Assessor's Map #: 23
Legal Description (Abbrev): LOT 18 BLOCK 3 PALOMAR HOMES MCR 004050
Assessor's Parcel #: 94
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 112201
Taxes: 631
Legal: LOT 18 BLOCK 3 PALOMAR HOMES MCR 004050
Marketing Name: PALOMAR HOMES
Map Code/Grid: P33
House Number: 1610
Compass: N
Street Name: 38TH
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85009
Zip4: 2240
County Code: Maricopa
Subdivision: PALOMAR HOMES
Assessor Number: 108-23-094
Tax Year: 2020
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 2
Lot Size Dimensions: 92' x 62'
Flood Zone: TBD
Total # of Units: 2
Elementary School District: Isaac Elementary District
High School District: Phoenix Union High School District
Elementary School: Mitchell Elementary School
Jr. High School: Isaac Middle School
High School: Carl Hayden High School
Year Built: 1946
Zoning: R1-6
Legal Info
Range: 2E
Section: 34
Cnty Rcrd Bk & Pg #: 004050
Township: 2N
Block: 3
Lot Number: 18
Project Type
Duplex: 1
Other Type
House + Rental Units: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Composition: 1
Floors
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Personal Property: 1
Laundry Equipment: 1
Income & Expenses
Annual Elec Exp: 20
Annual Ins Exp: 1284
Annual Landscape Exp: 150
Annual Maint Exp: 1500
Annual Mgmt Exp: 1580
Annual Trash Exp: 405
Annual Wtr/Swr Exp: 330
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 5900
Other Income: 600
Vacancy Allowance: 0.02
Adjusted Gross Inc: 31563.84
Total Monthly Rental Income: 2634
Pmt & Rate Info
Cap Rate: 8.55
Equity: 300000
Down Payment %: 10
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Text: 1
Community Features
No Pool: 1
Heating
Heat Pump: 1
Electric: 1
Cooling
Electric: 1
Heat Pump: 1
Exterior Amenities
Landscape Water System: 1
Green Landscaping: 1
Desert Landscaping: 1
Fenced: 1
Sidewalk(s): 1
Patio/Balcony: 1
Security Light(s): 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Mini Blinds: 1
Tenant Pays
Electricity: 1
Cable TV: 1
Landscaping: 1
Appliances Included
Refrigerator: 1
Free-Standing Range: 1
Washer/Dryer: 1
Road Access Type
Alley: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Sewer-In & Connected: 1
Parking Features
On Street: 1
1 Space/Unit: 1
Assigned: 1
Electric
SRP: 1
Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
New Financing
Conventional: 1
No Carry: 1
Existing 1st Loan
Conventional: 1
Existing 1st Loan Type
Fixed: 1
Existing 1st Loan Terms
Non Assumable: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 1275
Avg SqFt: 806
# Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 1300
Avg SqFt: 1001
# Baths: 1
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Other
Closing Cost Split: Normal - N
Payment Type: Other
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: McDowell & 43rd Ave
Directions: West to 38th Ave, north to first property on the left.
Geo Lat: 33.466507
Geo Lon: -112.140686
Status Change Info
Off Market Date: 2021-05-25
Under Contract Date: 2021-05-20
Close of Escrow Date: 2021-05-26
Sold Price: $335,000
Income Expenses
Gross Annual Sch Inc: 31608
Net Operating Income: 25664
Property Features
Project Type: Duplex
Other Type: House + Rental Units
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Composition
Floors: Ceramic Tile
Sale Includes: Land & Building; Personal Property; Laundry Equipment
Community Features: No Pool
Exterior Amenities: Landscape Water System; Green Landscaping; Desert Landscaping; Fenced; Sidewalk(s); Patio/Balcony; Security Light(s)
Interior Features: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds
Appliances Included: Free-Standing Range; Refrigerator; Washer/Dryer
Heating: Heat Pump
Cooling: Electric; Heat Pump
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public; Sewer-In & Connected
Electric: SRP; Individual Meter
Gas: None
Parking Features: On Street; 1 Space/Unit; Assigned
Road Access Type: Alley
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity; Cable TV; Landscaping
Source of Fincl Data: Owner
Showing Notification Methods: Text
Existing 1st Loan: Conventional
Existing 1st Loan Type: Fixed
Existing 1st Loan Terms: Non Assumable
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional; No Carry
Environmental: None
Listing Office: Candid Realty
Last Updated: March - 18 - 2025
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