1630 E GEORGIA Avenue, Phoenix, AZ 85016 (MLS# 6198460)

1630 E GEORGIA Avenue, Phoenix, AZ 85016

$2,412,500

Property Type: Multiple Dwellings Status: Closed

Current Price: $2,412,500 Last Modified: 3/13/2025

Overview

Description

Welcome to Palmaire, a Mid-Century Modern gem in the Camelback Corridor with gorgeous landscaping. This 1960's complex has 18 units w/tremendous flair, lush grounds, a gorgeous community pool/ramada, etc. The 10 condos for sale have been remodeled. Open floor plans allow for great space to entertain or relax. There are three 1 bed, 1 bath units, five 2 bed, 2 bath units and two 3 bed, 2 bath units. 2 units are furnished. All units feature stainless steel appliances with quartz or granite countertops, shaker-style cabinets and beautiful flooring ranging from stained concrete to bamboo. Covered/assigned parking. Beautiful city park across the street. Easy access to the 51 and exceptional dining along Camelback Rd. Many restaurants and community hot spots in close proximity

Listing Details MLS# 6198460

Location, Tax & Legal

Map Code/Grid: N35
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: 2020
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: 15179
Legal: PALMAIRE CONDOMINIUM MCR 086812 (10 units to come in escrow)
Marketing Name: Palmaire

Contract Info

Ownership: Condominium

General Property Description

Year Built: 1964
Uncvrd Parking Spcs: 2
Total # of Units: 10
# of Buildings: 2
Zoning: M_H
Flood Zone: No
Elementary School District: Madison Elementary District
High School District: Phoenix Union High School District
Elementary School: Madison Elementary School
Jr. High School: Madison Meadows School
Lot Size Dimensions: No

Remarks Misc

Cross Street: Camelback & 16th Street
Directions: North on 16th St; East on E Georgia Ave to property on the left at the end of the cul-de-sac.

Status Change Info

Off Market Date: 2021-05-12
Under Contract Date: 2021-03-22
Close of Escrow Date: 2021-05-18

Legal Info

Township: 2N
Range: 3E
Section: 15
Lot Number: 103,105,106,108,....

More Information

Income Expenses

Gross Annual Sch Inc: 205000
Net Operating Income: 121000

1 Bedroom Units

# 1 Bedroom Units: 3
Avg Rent: 1395
Avg SqFt: 905
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 5
Avg Rent: 1795
Avg SqFt: 1200
# Baths: 2

3 Bedrooms Units

# 3 Bedroom Units: 2
Avg Rent: 1995
Avg SqFt: 1400
# Baths: 2

Sold Info

Loan Type: Exchange
Loan Years: 5
Payment Type: Fixed
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

Brick: Yes

Const - Finish

Other (See Remarks): Yes

Roofing

Rolled: Yes

Floors

Concrete: Yes
Wood: Yes
Carpet: Yes

Sale Includes

Building(s) Only: Yes
Personal Property: 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: 80000
Operating Exp: 95179
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 205000

Pmt & Rate Info

Cap Rate: 4.65
Down Payment: 0
Equity: 2600000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Showing Notification Methods

Phone Call: Yes

Lockbox Type

None: Yes

Community Features

Pool: Yes

Heating

Electric: Yes

Cooling

Ceiling Fan(s): Yes
Central Air: Yes
Individual: Yes

Exterior Amenities

Landscape Water System: Yes
Green Landscaping: Yes
Sidewalk(s): Yes
Patio/Balcony: Yes

Interior Features

Furnished: Yes
Unfurnished: Yes
Fire/Smoke Alarm(s): Yes
Vertical Blinds: Yes
Mini Blinds: Yes
Breakfast Bar: Yes
Other (See Remarks): Yes

Tenant Pays

Electricity: Yes
Cable TV: Yes

Appliances Included

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

Road Access Type

Dedicated Street: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

Master Meter: Yes
Other: Yes

Sewer

Sewer - Public: Yes

Parking Features

Free: Yes
1 Space/Unit: Yes
Paved: Yes
Assigned: Yes
Other: Yes

Electric

APS: Yes
Individual Meter: Yes

Gas

None: Yes

Owner Pays

Other: Yes
See Remarks: Yes

New Financing

Conventional: Yes
1031 Exchange: Yes
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: Brick Const - Finish: Other (See Remarks) Roofing: Rolled Floors: Concrete; Wood; Carpet Sale Includes: Building(s) Only; Personal Property Community Features: Pool Exterior Amenities: Landscape Water System; Green Landscaping; Sidewalk(s); Patio/Balcony Interior Features: Furnished; Unfurnished; Fire/Smoke Alarm(s); Vertical Blinds; Mini Blinds; Breakfast Bar; Other (See Remarks) Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer Cooling: Ceiling Fan(s); Individual; Central Air Water Source: Master Meter; Other Sewer: Sewer - Public Electric: APS; Individual Meter Gas: None Parking Features: 1 Space/Unit; Assigned; Free; Paved; Other Road Access Type: Dedicated Street Road Surface Type: Asphalt Owner Pays: Other; See Remarks Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner Showing Notification Methods: Phone Call Lockbox Type: None 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: Conventional; 1031 Exchange; Other (See Remarks) Environmental: None

Documents

Palmaire Spread ›

Listing Office: Metro Realty

Last Updated: March - 13 - 2025