1630 E GEORGIA Avenue 103, Phoenix, AZ 85016

$1,625,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $1,625,000 Last Modified: 7/14/2018

Overview

Description

Nine units in the finest in Garden Style Mid Century Modern Condos...Palmaire condos is where it's at. This 1960's complex has tremendous flair, lush grounds, gorgeous community pool/ramada and more. The condos all have been updated throughout. The open plans allow for great space to entertain or relax. There are 3- 1 bed 1 bath, 4- 2 bed and 2 baths and 2- 2 bed 2 bath with a den units. Stainless appliances along with solid surface counters. All patios overlook the pool area and the lush grounds filled with grass and succulents. Location is everything when you live at Palmaire with the proximity to great dining and shopping. All units are leased and most units have been long term solid professional tenants.

Listing Details MLS# 5606074

Location, Tax & Legal

Map Code/Grid
N34
House Number
1630
Compass
E
Street Name
GEORGIA
St Suffix
Avenue
City/Town Code
Phoenix
State/Province
AZ
Zip Code
85016
Zip4
3210
Country
US
County Code
Maricopa
Subdivision
PALMAIRE CONDOMINIUM
Assessor Number
164-55-278
Tax Year
2104
Unit #
103
Assessor's Map #
55
Legal Description (Abbrev)
LOT 103 PALMAIRE CONDOMINIUM MCR 086812
Assessor's Parcel #
278
Add'l Parcels
No
Tax Municipality
Maricopa - COUNTY
Census Tract
107700
Taxes
12223
Legal
LOT 103, 203, 107, 108, 208, 105, 106, 110, 204, PALMAIRE CONDOMINIUM MCR 086812
Marketing Name
Palmaire Condominiums

Contract Info

Ownership
Fee Simple

General Property Description

Year Built
1964
Total # of Units
9
# of Buildings
Yes
Zoning
M_H
Elementary School District
Madison Elementary District
High School District
Phoenix Union High School District
Uncvrd Parking Spcs
0
Lot Size Dimensions
No

Remarks Misc

Cross Street
Colter & 16th Street Directions: North on 16th St

Status Change Info

Off Market Date
2018-07-08
Under Contract Date
2018-07-08
Close of Escrow Date
2018-07-13

Legal Info

Township
2N
Range
3E
Section
15
Lot Number
103

More Information

Income Expenses

Gross Annual Sch Inc
147988
Net Operating Income
87675

1 Bedroom Units

# 1 Bedroom Units
3
Avg Rent
940
Avg SqFt
905
# Baths
Yes

2 Bedroom Units

# 2 Bedroom Units
4
Avg Rent
1400
Avg SqFt
1167
# Baths
2

3 Bedrooms Units

# 3 Bedroom Units
2
Avg Rent
1475
Avg SqFt
1400
# Baths
2

Contact Info

List Agent Home Phn
623-255-0725

Sold Info

Loan Type
Cash
Payment Type
Other
Closing Cost Split
Normal - N
Buyer Concession $/%
$
Seller Concession $/%
$
Buyer Concession to Seller
0
Seller Concession to Buyer
0

Project Type

5 - 12 Units
Yes

Other Type

Packaged Offering
Yes

Construction

Block
Yes

Const - Finish

Painted
Yes

Roofing

Rolled
Yes

Floors

Wood
Yes
Carpet
Yes

Sale Includes

Building(s) Only
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
281
Annual Maint Exp
2407.79
Annual Mgmt Exp
8250
Annual Trash Exp
0
Annual Wtr/Swr Exp
0
Owner Association
Yes
Annual Ownr Asoc Fee
25850
Annual PAD Fee
907
Annual Rplcmnt Rsrvs
0
Annual Other Expense
0
Operating Exp
49918.79
Other Income
0
Vacancy Allowance
0
Adjusted Gross Inc
147988

Pmt & Rate Info

Cap Rate
4.79
Down Payment
0
Equity
1829000
Down Payment %
0
Monthly Payments
0
Total Owed
0
Assessment Balance
0

Community Features

Pool
Yes

Heating

Electric
Yes
Natural Gas
Yes

Cooling

Central Air
Yes
Individual
Yes

Exterior Amenities

Landscape Water System
Yes
Patio/Balcony
Yes

Interior Features

Unfurnished
Yes
Vertical Blinds
Yes

Tenant Pays

Electricity
Yes

Appliances Included

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

Road Access Type

Dedicated Street
Yes

Source of Fincl Data

Owner
Yes

Water Source

Master Meter
Yes

Sewer

Sewer - Public
Yes

Parking Features

1 Space/Unit
Yes

Electric

APS
Yes
Individual Meter
Yes

Gas

SW Gas
Yes

Owner Pays

None
Yes

New Financing

Other (See Remarks)
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

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: 5 - 12 Units Other Type: Packaged Offering Construction: Block Const - Finish: Painted Roofing: Rolled Floors: Wood; Carpet Sale Includes: Building(s) Only Community Features: Pool Exterior Amenities: Landscape Water System; Patio/Balcony Interior Features: Unfurnished; Vertical Blinds Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer Heating: Natural Gas Cooling: Individual; Central Air Water Source: Master Meter Sewer: Sewer - Public Electric: APS; Individual Meter Gas: SW Gas Parking Features: 1 Space/Unit Road Access Type: Dedicated Street Owner Pays: None Tenant Pays: Electricity Source of Fincl Data: Owner Existing 1st Loan: Treat as Free&Clear 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: Occasio Realty
Last Updated: July - 14 - 2018
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