$760,000
Phoenix, AZ 85051
MLS# 6666026
Status: Closed
1 / 12
Property Description
The Northern Lanai fourplex offers a 7.1% Cap Rate. The unit mix consists of one 3-bedroom/2-bathroom (fully remodeled) and three 2-bedroom/1-bathroom units. The building has a four car garage + more uncovered parking spaces and on-site laundry. Each unit has it's own private patio and is separately metered for electric. Total estimated annual gross income: $71,507.76. Drive-by Only, Do Not Disturb Tenants.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $760,000
Sold Price: $760,000
Status: Closed
List Date: 2024-02-16
Location, Tax & Legal
Assessor's Map #: 9
Legal Description (Abbrev): LOT 28 NORTHERN LANAI UNIT ONE MCR 016924
Assessor's Parcel #: 907
Add'l Parcels: No
Tax Municipality: Maricopa - COUNTY
Census Tract: 105602
Taxes: 2191
Legal: LOT 40 NORTHERN LANAI UNIT 1 MCR 016924
Marketing Name: Northern Lanai Fourplex
House Number: 8108
Compass: N
Street Name: 33RD
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85051
Zip4: 6107
County Code: Maricopa
Subdivision: NORTHERN LANAI UNIT ONE
Assessor Number: 150-09-907
Tax Year: 2023
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 4
Lot Size Dimensions: 8998
Total # of Units: 4
Elementary School District: Glendale Elementary District
High School District: Glendale Union High School District
High School: Cortez High School
Year Built: 1974
Zoning: R-4
Legal Info
Range: 2E
Section: 35
Township: 3N
Lot Number: 28
Project Type
Four Plex: 1
Construction
Block: 1
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 428.97
Annual Gas Exp: 0
Annual Ins Exp: 1160
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 7225
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 2902
Owner Association: Yes
Annual Ownr Asoc Fee: 1508
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 15414.97
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 71496
Total Monthly Rental Income: 3000
Pmt & Rate Info
Cap Rate: 7.14
Down Payment: 0
Equity: 785000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Payment Includes
Insurance: 1
Showing Notification Methods
Showing Service: Non-MLS Showing Service - See Private Remarks
Text: 1
Email: 1
Phone Call: 1
Lockbox Type
See Private Remarks: 1
Community Features
No Pool: 1
Heating
Electric: 1
Individual: 1
Cooling
Electric: 1
Individual: 1
Exterior Amenities
Landscape Water System: 1
Sidewalk(s): 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Tenant Pays
Electricity: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Microwave: 1
Refrigerator: 1
Free-Standing Range: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
Garage: 1
Free: 1
<1 Space Per Unit: 1
Attached: 1
Paved: 1
Garage Door Opener: 1
Electric
SRP: 1
Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1
New Financing
VA: 1
Conventional: 1
No Carry: 1
1031 Exchange: 1
Existing 1st Loan
Conventional: 1
Existing 1st Loan Type
Fixed: 1
Existing 1st Loan Terms
Non Assumable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 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: 3
Avg Rent: 1304
Avg SqFt: 885
# Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 2050
Avg SqFt: 1000
# Baths: 2
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: 10000
Seller Concession $/%: $
Remarks Misc
Cross Street: Northern Ave & 35th Ave
Directions: Located on 33rd Avenue North of Northern Avenue.
Geo Lat: 33.555187
Geo Lon: -112.130198
Status Change Info
Off Market Date: 2024-02-26
Under Contract Date: 2024-02-24
Close of Escrow Date: 2024-03-15
Sold Price: $760,000
Income Expenses
Gross Annual Sch Inc: 71496
Net Operating Income: 56081
Property Features
Project Type: Four Plex
Construction: Block; Wood Frame
Const - Finish: Painted; Stucco
Roofing: Composition
Floors: Vinyl; Ceramic Tile
Sale Includes: Land & Building
Payment Includes: Insurance
Community Features: No Pool
Exterior Amenities: Landscape Water System; Sidewalk(s)
Interior Features: Unfurnished; Fire/Smoke Alarm(s)
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave
Heating: Individual
Cooling: Electric; Individual
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public
Electric: SRP; Individual Meter
Gas: None
Parking Features: Garage; <1 Space Per Unit; Attached; Garage Door Opener; Free; Paved
Road Surface Type: Asphalt
Owner Pays: Water
Tenant Pays: Electricity
Source of Fincl Data: Owner
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: See Private Remarks
Existing 1st Loan: Conventional
Existing 1st Loan Type: Fixed
Existing 1st Loan Terms: Non Assumable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: VA; Conventional; No Carry; 1031 Exchange
Environmental: None
Listing Office: Compass
Last Updated: March - 15 - 2024
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