1502 E DUNLAP Avenue, Phoenix, AZ 85020

$2,200,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $2,200,000 Last Modified: 7/25/2013

Overview

Description

BEAUTIFUL RESIDENTIAL CONDO PROJECT CLOSE TO PIESTEWA PEAK MOUNTAIN. Attractive investment opportunity for developers or investors. Cap Rate-2 options: Buy Option-11.33%; Lease Option-7.29%. 8 Units available. Each unit has 2 car garage and are over 2,300 SF each: 3 bedrooms, 2.5 bathrooms, lofts, offices, etc., depending on floor plan (3 different floor plans). These luxurious condos also have 6 improved lots with either a peak, valley or hillside view. The project is ideal for the buyer that is ready to complete and take advantage of the current market conditions and sell the completed project to an end user. An attractive investment opportunity for developers and/or investors. (REF GPE3687)

Listing Details MLS# 4871011

Location, Tax & Legal

Map Code/Grid
M34
House Number
1502
Compass
E
Street Name
DUNLAP
St Suffix
Avenue
City/Town Code
Phoenix
State/Province
AZ
Zip Code
85020
Zip4
3028
Country
US
County Code
Maricopa
Subdivision
Skyline Ridge at the Preserve
Assessor Number
159-33-173
Tax Year
2012
Assessor's Map #
33
Legal Description (Abbrev)
SKYLINE RIDGE AT THE PRESERVE CONDOMINIUMS
Assessor's Parcel #
173
Add'l Parcels
Yes
Tax Municipality
Phoenix
Census Tract
104702
Taxes
11604.44
Legal
SKYLINE RIDGE AT THE PRESERVE CONDOMINIUMS MCR 568-01 COMMON ELEM
Marketing Name
SKYLINE RIDGE @ PRESERVE

Contract Info

Ownership
Condominium

General Property Description

Lot Size Dimensions
Varies
Year Built
2008
Total # of Units
14
# of Buildings
8
Zoning
R1-6
Elementary School District
Washington Elementary District
High School District
Glendale Union High School District
Elementary School
Sunnyslope Elementary School
Jr. High School
Royal Palm Middle School
High School
Sunnyslope High School
Uncvrd Parking Spcs
0

Remarks Misc

Cross Street
E/NEC E. Dunlap Avenue & N. 14th Street
Directions
SR51 (Piestewa Fwy) to E. Northern Avenue west, then north on N. 14th Street and east on E. Dunlap Avenue.

Status Change Info

Off Market Date
2013-02-25
Under Contract Date
2013-02-22
Close of Escrow Date
2013-07-25

Legal Info

Township
3N
Range
3E
Section
28
Lot Number
Yes

More Information

Efficiency Units

Avg SqFt
2400
Avg Rent
0

3 Bedrooms Units

# 3 Bedroom Units
8
Avg SqFt
2400
# Baths
24
Avg Rent
0

Sold Info

Loan Type
Cash
Payment Type
Other
Closing Cost Split
Normal - N
Buyer Concession to Seller
2
Buyer Concession $/%
%
Seller Concession to Buyer
2
Seller Concession $/%
%

Project Type

13 - 24 Units
Yes

Other Type

Packaged Offering
Yes

Construction

Wood Frame
Yes

Const - Finish

Stucco
Yes

Roofing

Tile
Yes

Floors

Other
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
Yes
Annual Ownr Asoc Fee
0
Annual PAD Fee
0
Annual Rplcmnt Rsrvs
0
Annual Other Expense
0
Operating Exp
11604.44
Other Income
0
Vacancy Allowance
0
Adjusted Gross Inc
0

Pmt & Rate Info

Down Payment
0
Equity
2250000
Down Payment %
0
Monthly Payments
0
Total Owed
0
Assessment Balance
0

Community Features

Pool
Yes

Heating

Electric
Yes

Cooling

Electric
Yes

Exterior Amenities

Landscape Water System
Yes
Desert Landscaping
Yes
Patio/Balcony
Yes

Tenant Pays

Other (See Remarks)
Yes

Appliances Included

None
Yes

Road Access Type

Private Road
Yes

Source of Fincl Data

Other (See Remarks)
Yes

Water Source

Individual Meter
Yes

Sewer

Sewer - Public
Yes

Parking Features

Garage
Yes

Electric

APS
Yes

Gas

None
Yes

Owner Pays

Water
Yes
Electric
Yes

New Financing

Cash to Loan
Yes
VA
Yes
Conventional
Yes
FHA
Yes

Existing 1st Loan

Treat as Free&Clear
Yes

Existing 1st Loan Type

Not Applicable
Yes

Existing 1st Loan Terms

Not Applicable
Yes

Existing 2nd Loan

Treat as Free&Clear
Yes

Existing 2nd Loan Type

Not Applicable
Yes

Existing 2nd Loan Terms

Not Applicable
Yes

Existing 3rd Loan

Treat as Free&Clear
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

1 Bedroom Units

Avg Rent
0

2 Bedroom Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

Property Features

Project Type: 13 - 24 Units Other Type: Packaged Offering Construction: Wood Frame Const - Finish: Stucco Roofing: Tile Floors: Other Sale Includes: Land & Building Community Features: Pool Exterior Amenities: Landscape Water System; Desert Landscaping; Patio/Balcony Appliances Included: None Cooling: Electric Water Source: Individual Meter Sewer: Sewer - Public Electric: APS Gas: None Parking Features: Garage Road Access Type: Private Road Owner Pays: Water; Electric Tenant Pays: Other (See Remarks) Source of Fincl Data: Other (See Remarks) Existing 1st Loan: Treat as Free&Clear Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable 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: Cash to Loan; VA; FHA; Conventional Environmental: Other (See Remarks)
IDX
Listing Office: Avison Young
Last Updated: July - 25 - 2013
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