1621 W DENTON Lane, Phoenix, AZ 85015 (MLS# 5228705)

1621 W DENTON Lane, Phoenix, AZ 85015

$1,470,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $1,470,000 Last Modified: 4/20/2015

Overview

Description

Sun Ray is a 28-unit garden-style apartment community located in a desirable north/central Phoenix neighborhood. Built in 1964, the property is made of block construction with pitched tile roofs and is individually-metered for electricity. The unit mix consists of one and two-bedroom floor plans that are extremely spacious and well designed and average approximately 855 square feet. Interior unit features include fully appointed kitchens with electric appliances, dishwashers, ceramic tile flooring, ceramic tile shower surrounds, walk-in closets, vertical blinds, ceiling fans and private back patios in the majority of the two bedroom units.

Supplements: The property is situated on approximately 0.88 acres and is landscaped with low water use shrubs and mature shade trees. Community amenities include a large sparkling swimming pool, laundry facility, exterior lighting, covered parking and barbeques. Sun Ray offers an investor the opportunity to acquire a garden-style apartment community located ... (Read more)

Listing Details MLS# 5228705

Location, Tax & Legal

Map Code/Grid: N31
House Number: 1621
Compass: W
Street Name: DENTON
St Suffix: Lane
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85015
Zip4: 3077
Country: US
County Code: Maricopa
Assessor Number: 156-39-008-A
Tax Year: 2014
Assessor's Map #: 39
Legal Description (Abbrev): DENTON TRACT
Assessor's Parcel #: 8
Assessor Parcel Ltr: A
Add'l Parcels: No
Tax Municipality: Maricopa - COUNTY
Census Tract: 107400
Taxes: 9123.04
Legal: DENTON TRACT MCR 16/25 LOT 8 & THAT PT OF TRACT C DAF THE W 127F
Marketing Name: Sun Ray

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 28125
Year Built: 1985
Uncvrd Parking Spcs: 10
Total # of Units: 28
# of Buildings: 4
Zoning: R-4
Elementary School District: Osborn Elementary District
High School District: Phoenix Union High School District

Status Change Info

Off Market Date: 2015-03-11
Under Contract Date: 2015-02-17
Close of Escrow Date: 2015-04-17

Legal Info

Township: 2N
Range: 3E
Section: 18
Lot Number: 8

More Information

Income Expenses

Gross Annual Sch Inc: 218400
Net Operating Income: 120691

1 Bedroom Units

# 1 Bedroom Units: 10
Avg Rent: 550
Avg SqFt: 700
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 18
Avg Rent: 700
Avg SqFt: 900
# Baths: 2

Contact Info

List Agent Home Phn: 602-735-5634

Sold Info

Loan Type: Conventional
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
Stucco: Yes

Roofing

Tile: 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
Other Income: 0
Vacancy Allowance: 0.04
Adjusted Gross Inc: 210319.2

Pmt & Rate Info

Cap Rate: 8.18
Down Payment: 0
Equity: 1475000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Community Features

Pool: Yes
Barbecue: Yes

Heating

Individual: Yes

Cooling

Individual: Yes

Exterior Amenities

Green Landscaping: Yes
Desert Landscaping: Yes
Security Light(s): Yes

Interior Features

Vertical Blinds: Yes

Tenant Pays

Electricity: Yes

Appliances Included

Dishwasher: Yes
Free-Standing Range: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

>1 Space Per Unit: Yes
Paved: Yes

Electric

APS: Yes
Individual Meter: Yes

Gas

SW Gas: Yes
Master Meter: Yes

Owner Pays

Water: Yes
Sewer: Yes
Gas: Yes

New Financing

Conventional: 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

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 25 - 50 Units Construction: Block Const - Finish: Painted; Stucco Roofing: Tile Floors: Ceramic Tile Sale Includes: Land & Building Community Features: Pool; Barbecue Exterior Amenities: Green Landscaping; Desert Landscaping; Security Light(s) Interior Features: Vertical Blinds Appliances Included: Free-Standing Range; Dishwasher Heating: Individual Cooling: Individual Water Source: City Franchise Sewer: Sewer - Public Electric: APS; Individual Meter Gas: SW Gas; Master Meter Parking Features: >1 Space Per Unit; Paved Road Surface Type: Asphalt Owner Pays: Water; Gas Tenant Pays: Electricity Source of Fincl Data: Owner 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 Environmental: None

Listing Office: CBRE, Inc

Last Updated: April - 20 - 2015