1010 E MARYLAND Avenue, Phoenix, AZ 85014

$2,025,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $2,025,000 Last Modified: 12/23/2024

Overview

Description

Financials upon request. ARA is pleased to announce the availability of Mirage Apartments, a rare Mid Century Modern Opportunity in an A+ class location. The single story community has tremendous frontage and drive-by visibility on the northeast corner of Maryland Avenue and 10th Street. This vibrant infill location is embedded within an area experiencing millions of dollars in gentrification efforts and a residential revival that has led to unprecedented rental and single family demand. Nearby buildings have undergone the adaptive reuse transformation creating new local hotspots now serving as neighborhood eateries and nightlife destinations.

Supplements: This unique transformation has resulted in large numbers of visitors from outside the neighborhood arriving as consumers and subsequently moving to the area as residents. The most prevalent of these restaurant redevelopments is The Yard which is within 1 block of the Mirage. The Yard, a 53,000 SF redevelopment of a former motorcycle dealership by F ...

Listing Details MLS# 5578159

Location, Tax & Legal

Map Code/Grid
N34
House Number
1010
Compass
E
Street Name
MARYLAND
St Suffix
Avenue
City/Town Code
Phoenix
State/Province
AZ
Zip Code
85014
Zip4
1674
Country
US
County Code
Maricopa
Subdivision
SIERRA VISTA ESTATES
Assessor Number
161-06-029
Tax Year
2016
Assessor's Map #
6
Legal Description (Abbrev)
LOT 3 BLOCK 2 SIERRA VISTA ESTATES MCR 003946
Assessor's Parcel #
29
Add'l Parcels
Yes
Tax Municipality
Phoenix
Census Tract
106501
Taxes
5417
Legal
LOT 3 BLOCK 2 SIERRA VISTA ESTATES MCR 003946
Marketing Name
Mirage

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
0.67 Acres
Year Built
1969
Uncvrd Parking Spcs
30
Total # of Units
15
# of Buildings
5
Zoning
M-H R-4
Elementary School District
Madison Elementary District
High School District
Phoenix Union High School District

Remarks Misc

Cross Street
N. 10th Street and E. Maryland Avenue
Directions
Property is located on the Northeast corner of N. 10th Street and E. Maryland Avenue.

Status Change Info

Off Market Date
2017-06-26
Under Contract Date
2017-06-26
Close of Escrow Date
2017-08-19

Legal Info

Township
2N
Range
3E
Section
9
Block
2
Lot Number
3

More Information

1 Bedroom Units

# 1 Bedroom Units
8
Avg Rent
1050
Avg SqFt
700
# Baths
Yes

2 Bedroom Units

# 2 Bedroom Units
6
Avg Rent
1250
Avg SqFt
900
# Baths
Yes

3 Bedrooms Units

# 3 Bedroom Units
Yes
Avg Rent
1450
Avg SqFt
1100
# Baths
2

Sold Info

Loan Type
Conventional
Loan Years
30
Payment Type
Fixed
Closing Cost Split
Normal - N
Buyer Concession $/%
$
Seller Concession $/%
$
Buyer Concession to Seller
0
Seller Concession to Buyer
0

Project Type

13 - 24 Units
Yes

Construction

Block
Yes

Const - Finish

Painted
Yes
Other (See Remarks)
Yes

Roofing

Other
Yes

Floors

Concrete
Yes

Sale Includes

Land & Building
Yes
Pool Equipment
Yes
Other (See Remarks)
Yes

Income & Expenses

Annual Elec Exp
0
Annual Gas Exp
0
Annual Ins Exp
0
Annual Land Lse Exp
0
Annual Landscape Exp
0
Annual Legal & Acctg
0
Annual Maint Exp
0
Annual Mgmt Exp
0
Annual Trash Exp
0
Annual Wtr/Swr Exp
0
Owner Association
No
Annual Ownr Asoc Fee
0
Annual PAD Fee
0
Annual Rplcmnt Rsrvs
0
Annual Other Expense
0
Operating Exp
5417
Other Income
0
Vacancy Allowance
0
Adjusted Gross Inc
0

Pmt & Rate Info

Down Payment
0
Equity
2096000
Down Payment %
0
Monthly Payments
0
Total Owed
0
Assessment Balance
0

Community Features

Pool
Yes
Shuffle Brd/Lawn Bwl
Yes
Other
Yes
See Remarks
Yes

Heating

Other
Yes
See Remarks
Yes

Cooling

Other
Yes
See Remarks
Yes

Exterior Amenities

Separate Storage
Yes
Other (See Remarks)
Yes

Interior Features

Unfurnished
Yes

Tenant Pays

Electricity
Yes
Cable TV
Yes

Appliances Included

W/D Hookup
Yes
Other
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Other (See Remarks)
Yes

Water Source

City Franchise
Yes

Sewer

Sewer - Public
Yes

Parking Features

On Street
Yes
Paved
Yes

Electric

APS
Yes
SRP
Yes

Gas

Other (See Remarks)
Yes

Owner Pays

Water
Yes
Sewer
Yes
Trash Collection
Yes
Pool Maintenance
Yes

New Financing

Conventional
Yes
No Carry
Yes

Existing 1st Loan

Other (See Rmks)
Yes

Existing 1st Loan Type

Not Applicable
Yes

Existing 1st Loan Terms

Not Applicable
Yes

Existing 2nd Loan

Other (See Remarks)
Yes

Existing 2nd Loan Type

Not Applicable
Yes

Existing 2nd Loan Terms

Not Applicable
Yes

Existing 3rd Loan

Other (See Remarks)
Yes

Existing 3rd Loan Type

Not Applicable
Yes

Reports/Disclosures

Other (See Remarks)
Yes

Existing 3rd Loan Terms

Not Applicable
Yes

Environmental

Other (See Remarks)
Yes

Existing Othr Ln Trm

Not Applicable
Yes

Efficiency Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

Property Features

Project Type: 13 - 24 Units Construction: Block Const - Finish: Painted; Other (See Remarks) Roofing: Other Floors: Concrete Sale Includes: Land & Building; Pool Equipment; Other (See Remarks) Community Features: Pool; Shuffle Brd/Lawn Bwl; Other; See Remarks Exterior Amenities: Separate Storage; Other (See Remarks) Interior Features: Unfurnished Appliances Included: W/D Hookup; Other Heating: Other; See Remarks Cooling: Other; See Remarks Water Source: City Franchise Sewer: Sewer - Public Electric: APS; SRP Gas: Other (See Remarks) Parking Features: On Street; Paved Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Pool Maintenance Tenant Pays: Electricity; Cable TV Source of Fincl Data: Other (See Remarks) Existing 1st Loan: Other (See Rmks) Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable Existing 2nd Loan: Other (See Remarks) Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Other (See Remarks) Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Conventional; No Carry Environmental: Other (See Remarks)
IDX
Listing Office: Newmark Multifamily
Last Updated: December - 23 - 2024
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