1420 E BETHANY HOME Road, Phoenix, AZ 85014

$3,250,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $3,250,000 Last Modified: 11/07/2017

Overview

Description

Bethany Gardens is an attractive 35-unit garden-style apartment community located in a dynamic central Phoenix neighborhood with high barriers to entry. Built in 1978, the property is made of block construction with built-up roofs, and is individually metered for electricity.

Supplements: The unit mix consists of all two-bedroom, two bathroom floor plans that are spacious and extremely well designed and average 925 square feet. Four of the units have been completely renovated with wood vinyl flooring, GE faux metallic electric appliances including dishwashers, decorative glass tile kitchen backsplash, new cabinets and countertops b ...

Listing Details MLS# 5185171

Location, Tax & Legal

Map Code/Grid
N34
House Number
1420
Compass
E
Street Name
BETHANY HOME
St Suffix
Road
City/Town Code
Phoenix
State/Province
AZ
Zip Code
85014
Zip4
2006
Country
US
County Code
Maricopa
Assessor Number
161-10-008
Tax Year
2014
Assessor's Map #
10
Legal Description (Abbrev)
ORANGE HEIGHTS LOTS 44, 45 & TR A
Assessor's Parcel #
8
Add'l Parcels
No
Tax Municipality
Maricopa - CITY
Census Tract
106502
Taxes
12181
Legal
ORANGE HEIGHTS W 168' LOT 29 EX E 13' OF N
Marketing Name
Bethany Gardens

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
101175.65
Year Built
1978
Uncvrd Parking Spcs
32
Total # of Units
35
# of Buildings
5
Zoning
R-3
Elementary School District
Madison Elementary District
High School District
Phoenix Union High School District

Status Change Info

Off Market Date
2015-03-19
Under Contract Date
2015-03-19
Close of Escrow Date
2015-05-18

Legal Info

Township
2N
Range
3E
Section
9
Lot Number
29

More Information

Income Expenses

Gross Annual Sch Inc
380321
Net Operating Income
233231

2 Bedroom Units

# 2 Bedroom Units
35
Avg Rent
915
Avg SqFt
925
# Baths
2

Contact Info

List Agent Home Phn
602-735-5634

Sold Info

Loan Type
Conventional
Loan Years
Yes
Payment Type
Other
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

Slump Block
Yes

Const - Finish

Painted
Yes
Siding
Yes

Roofing

Built-Up
Yes

Floors

Vinyl
Yes
Wood
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
12181
Other Income
20981
Vacancy Allowance
0.08
Adjusted Gross Inc
369197.84
Total Monthly Rental Income
0

Pmt & Rate Info

Cap Rate
7.18
Down Payment
975000
Equity
3250000
Down Payment %
30
Monthly Payments
0
Total Owed
0
Assessment Balance
0

Community Features

Pool
Yes

Heating

Individual
Yes
Window/Wall Unit(s)
Yes

Cooling

Window/Wall Unit
Yes
Individual
Yes

Exterior Amenities

Fenced
Yes
Patio/Balcony
Yes
Security Light(s)
Yes

Tenant Pays

Electricity
Yes

Appliances Included

Dishwasher
Yes
Microwave
Yes
Refrigerator
Yes
Free-Standing Range
Yes
Washer/Dryer
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Owner
Yes
Projected Proforma
Yes
Other (See Remarks)
Yes

Water Source

City Franchise
Yes
Master Meter
Yes

Sewer

Sewer - Public
Yes

Parking Features

Paved
Yes

Electric

Individual Meter
Yes

Gas

None
Yes

Owner Pays

Water
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

Other (See Remarks)
Yes

Existing 3rd Loan Terms

Not Applicable
Yes

Environmental

None
Yes

Existing Othr Ln Trm

Not Applicable
Yes

Efficiency Units

Avg Rent
0

1 Bedroom Units

Avg Rent
0

3 Bedrooms Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

Property Features

Project Type: 25 - 50 Units Construction: Slump Block Const - Finish: Painted; Siding Roofing: Built-Up Floors: Vinyl; Wood Sale Includes: Land & Building Community Features: Pool Exterior Amenities: Fenced; Patio/Balcony; Security Light(s) Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Microwave; Washer/Dryer Heating: Individual; Window/Wall Unit(s) Cooling: Window/Wall Unit; Individual Water Source: City Franchise; Master Meter Sewer: Sewer - Public Electric: Individual Meter Gas: None Parking Features: Paved Road Surface Type: Asphalt Owner Pays: Water Tenant Pays: Electricity Source of Fincl Data: Owner; Projected Proforma; 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: Other (See Remarks) Environmental: None
IDX
Listing Office: CBRE, Inc
Last Updated: November - 07 - 2017
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