1110 E HIGHLAND Avenue, Phoenix, AZ 85014 (MLS# 5183721)

1110 E HIGHLAND Avenue, Phoenix, AZ 85014

$1,710,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $1,710,000 Last Modified: 11/07/2017

Overview

Description

Highland Villa is a 36-unit garden-style apartment community located in a dynamic central phoenix neighborhood. Built in 1955 and 1975, the property is made of block construction with new pitched composition shingle roofs and has individual HVAC units with a central meter for electricity. There are sub-meters currently in place for electricity, but not in use. The property has a unit mix consisting of studio, one, two and three-bedroom floor plans that average approximately 601 square feet and are extremely well designed.

Supplements: Nearly one-third of the units have been renovated with fully appointed kitchens with new countertops and cabinets with chrome hardware, stainless steel sinks, porcelain tile kitchen backsplash, ceramic tile flooring, crown molding, 4" baseboards, ample closet space, vertical blinds, ceramic tile shower surrounds, ceiling fans and solid core interio ... (Read more)

Listing Details MLS# 5183721

Location, Tax & Legal

Map Code/Grid: P36
House Number: 1110
Compass: E
Street Name: HIGHLAND
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85014
Zip4: 3640
Country: US
County Code: Maricopa
Assessor Number: 155-11-037
Tax Year: 2014
Assessor's Map #: 11
Legal Description (Abbrev): LINCOLN PLACE
Assessor's Parcel #: 37
Add'l Parcels: No
Tax Municipality: Maricopa - CITY
Census Tract: 108602
Taxes: 7812.84
Legal: LINCOLN PL PT LOT 12 E 132' OF W 330' OF
Marketing Name: Highland Villas

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 39600
Year Built: 1972
Uncvrd Parking Spcs: 40
Total # of Units: 36
# of Buildings: 5
Zoning: R-5
Elementary School District: Madison Elementary District
High School District: Phoenix Union High School District

Status Change Info

Off Market Date: 2015-02-02
Under Contract Date: 2015-02-02
Close of Escrow Date: 2015-04-13

Legal Info

Township: 2N
Range: 3E
Section: 21
Lot Number: 12

More Information

Income Expenses

Net Operating Income: 144572

1 Bedroom Units

# 1 Bedroom Units: 33
Avg Rent: 574
Avg SqFt: 500
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 2
Avg Rent: 960
Avg SqFt: 800
# Baths: Yes

3 Bedrooms Units

# 3 Bedroom Units: Yes
Avg Rent: 1000
Avg SqFt: 1350
# Baths: Yes

Contact Info

List Agent Home Phn: 602-735-5634

Sold Info

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

Project Type

25 - 50 Units: Yes

Construction

Block: Yes

Const - Finish

Painted: Yes

Roofing

Composition: Yes
Built-Up: Yes

Floors

Ceramic Tile: Yes

Sale Includes

Land & Building: 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: 7812.84
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0

Pmt & Rate Info

Cap Rate: 8.03
Down Payment: 540000
Equity: 1800000
Down Payment %: 30
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Community Features

No Pool: Yes
Other: Yes
See Remarks: Yes

Heating

Window/Wall Unit(s): Yes

Cooling

Window/Wall Unit: Yes

Exterior Amenities

Desert Landscaping: Yes

Interior Features

Vertical Blinds: Yes

Tenant Pays

Cable TV: Yes

Appliances Included

Microwave: Yes
Refrigerator: Yes
Built-In Range: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes
Projected Proforma: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Paved: Yes

Electric

APS: Yes
Master Meter: Yes

Gas

Master Meter: Yes

Owner Pays

Water: Yes
Sewer: Yes
Electric: Yes
Gas: Yes

New Financing

Other (See Remarks): 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

None: Yes

Existing 3rd Loan Terms

Not Applicable: Yes

Environmental

None: Yes

Existing Othr Ln Trm

Not Applicable: Yes

Efficiency Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 25 - 50 Units Construction: Block Const - Finish: Painted Roofing: Composition; Built-Up Floors: Ceramic Tile Sale Includes: Land & Building Community Features: No Pool; Other; See Remarks Exterior Amenities: Desert Landscaping Interior Features: Vertical Blinds Appliances Included: Built-In Range; Refrigerator; Microwave Heating: Window/Wall Unit(s) Cooling: Window/Wall Unit Water Source: City Franchise Sewer: Sewer - Public Electric: APS; Master Meter Gas: Master Meter Parking Features: Paved Road Surface Type: Asphalt Owner Pays: Water; Electric; Gas Tenant Pays: Cable TV Source of Fincl Data: Owner; Projected Proforma 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: Other (See Remarks) Environmental: None

Documents

Confidentiality Agreement ›

Listing Office: CBRE, Inc

Last Updated: November - 07 - 2017