$2,150,000
Avondale, AZ 85323
MLS# 6361702
Status: Closed
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Property Description
Here is the perfect opportunity to build your portfolio on this 12 unit complex. Entire property is fully leased and professionally managed. Units have been semi-updated with various stages of flooring, paint, kitchen and bathroom renovations throughout. Many of the big ticket items have been done–Exterior Paint (2015), multiple units had new A/C Units (2013), new roof on some buildings and new sewer lines to all buildings. This is a diamond in the rough!!!! Up and coming location in Arizona's 14th largest city. Includes 306/312 E Kinderman. All 12 units included in the sale.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $2,150,000
Sold Price: $2,150,000
Status: Closed
List Date: 2022-02-28
Location, Tax & Legal
Assessor's Map #: 17
Legal Description (Abbrev): W 200' OF S2 SE4 NE4 SW4 SE4 EX W 100' & EX S 30' RD .31 AC
Assessor's Parcel #: 152
Add'l Parcels: Yes
Tax Municipality: Maricopa - COUNTY
Census Tract: 61200
Taxes: 1691.2
Legal: W 200' OF S2 SE4 NE4 SW4 SE4 EX W 100' & EX S 30' RD .31 AC
Marketing Name: Harmony Village Apartment
Map Code/Grid: Q29
House Number: 312
Compass: E
Street Name: Kinderman
St Suffix: Drive
City/Town Code: Avondale
State/Province: AZ
Zip Code: 85323
Zip4: 2170
County Code: Maricopa
Subdivision: Harmony Village Apartment
Assessor Number: 500-17-152
Tax Year: 2021
General Property Description
# of Buildings: 4
Uncvrd Parking Spcs: 24
Lot Size Dimensions: 199.82 X 135.73
Total # of Units: 12
Elementary School District: Avondale Elementary District
High School District: Agua Fria Union High School District
Elementary School: Eliseo C. Felix School
Jr. High School: Avondale Middle School
High School: Agua Fria High School
Year Built: 1969
Zoning: R4 & R3
Legal Info
Range: 1W
Section: 10
Township: 1N
Lot Number: 000
Project Type
5 - 12 Units: 1
Other Type
Packaged Offering: 1
Construction
Block: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Composition: 1
Built-Up: 1
Floors
Vinyl: 1
Ceramic Tile: 1
Carpet: 1
Sale Includes
Land & Building: 1
Personal Property: 1
Income & Expenses
Annual Elec Exp: 363.43
Annual Gas Exp: 0
Annual Ins Exp: 2808
Annual Land Lse Exp: 0
Annual Landscape Exp: 3865
Annual Legal & Acctg: 0
Annual Maint Exp: 4725
Annual Mgmt Exp: 16951
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 7229
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 37632.63
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 162841.4
Totl Mnth Rntal Inc: 14284
Pmt & Rate Info
Cap Rate: 5.83
Down Payment: 0
Equity: 2295000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Natural Gas: 1
Central: 1
Heat Pump: 1
Window/Wall Unit(s): 1
Cooling
Window/Wall Unit: 1
Exterior Amenities
Desert Landscaping: 1
Cable TV Available: 1
Separate Storage: 1
Security Light(s): 1
Interior Amenities
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Mini Blinds: 1
Tenant Pays
Gas: 1
Electricity: 1
Cable TV: 1
Appliances Included
Free-Standing Range: 1
Refrigerator: 1
Other: 1
Roads/Streets
Asphalt: 1
Curb(s) & Gutter(s): 1
Source of Fincl Data
Owner: 1
Projected Proforma: 1
Books Shwn Accpt Ofr: 1
Water Source
City Franchise: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Sewer - Available: 1
Sewer-In & Connected: 1
Parking Features
Free: 1
>1 Space Per Unit: 1
Paved: 1
Add'l Parking Avail: 1
Electric
APS: 1
Individual Meter: 1
Gas
SW Gas: 1
Individual Meter: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Conventional: 1
1031 Exchange: 1
Other (See Remarks): 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Ln Type
Not Applicable: 1
Existing 1st Ln Trms
Not Applicable: 1
Existing 2nd Loan
Other (See Remarks): 1
Existing 2nd Ln Type
Not Applicable: 1
Existing 2nd Ln Trms
Not Applicable: 1
Existing 3rd Loan
Other (See Remarks): 1
Existing 3rd Ln Type
Not Applicable: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Sch of Personal Prop: 1
Existing 3rd Ln Trms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 2
Avg Rent: 612.5
Avg SqFt: 575
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 10
Avg Rent: 665
Avg SqFt: 717
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Cash
Closing Cost Split: Normal - N
Payment Type: Other
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 75000
Seller Concession $/%: $
Remarks Misc
Cross Street: Dysart Road and Van Buren Street
Directions: From Van Buren: South on Dysart. West (Right) on Riley. South (Left) on 5th Street. West (Right) on Kinderman to Harmony Village Apartments located on the north (right) side.
Geo Lat: 33.437402
Geo Lon: -112.346268
Status Change Info
Off Market Date: 2022-06-22
Under Contract Date: 2022-05-19
Close of Escrow Date: 2022-06-30
Sold Price: $2,150,000
Income Expenses
Gross Annual Sch Inc: 171412
Net Operating Income: 133780
Property Features
Project Type: 5 - 12 Units
Other Type: Packaged Offering
Construction: Block
Const - Finish: Painted; Stucco
Roofing: Composition; Built-Up
Floors: Vinyl; Ceramic Tile; Carpet
Sale Includes: Land & Building; Personal Property
Community Features: No Pool
Exterior Amenities: Desert Landscaping; Cable TV Available; Separate Storage; Security Light(s)
Interior Amenities: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds
Appliances Included: Free-Standing Range; Refrigerator; Other
Heating: Natural Gas; Central; Heat Pump; Window/Wall Unit(s)
Cooling: Window/Wall Unit
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public; Sewer - Available; Sewer-In & Connected
Electric: APS; Individual Meter
Gas: SW Gas; Individual Meter
Parking Features: >1 Space Per Unit; Add'l Parking Avail; Free; Paved
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Gas; Cable TV
Source of Fincl Data: Owner; Projected Proforma; Books Shwn Accpt Ofr
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 1st Ln Type: Not Applicable
Existing 1st Ln Trms: Not Applicable
Existing 2nd Loan: Other (See Remarks)
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Other (See Remarks)
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional; 1031 Exchange; Other (See Remarks)
Environmental: None
Listing Office: Keller Williams Realty Phoenix
Last Updated: April - 06 - 2025
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