1727 W MOUNTAIN VIEW Road, Phoenix, AZ 85021 (MLS# 6224390)

1727 W MOUNTAIN VIEW Road, Phoenix, AZ 85021

$2,925,000

Virtual Tour

https://photos.google.com/u/2/share/AF1QipPPWl9OPzYPELFAOshbsI71-qYHlempTvXAEXahnA2pMUImNgjAbiDrbch_q7k0dw/photo/AF1QipMbLOsumWIIysxpZF0VQ8Na74tCqKYvlpOHf5hI?key=V1pLNmZIWlAweFUtMVRWT0U5SF91MlM2NjVWRFdn

Property Type: Multiple Dwellings Status: Closed

Current Price: $2,925,000 Last Modified: 8/14/2021

Overview

Description

Completely renovated 16 unit complex, each having 2 bed/1bath that boasts all the upgrades and is 100% Leased. Designated tenant parking, fresh exterior paint , remote security system and community BBQ area are just a few complex improvements. Inside, every unit has been completely remodeled with new windows, A/C units and air handlers, full sized washer & dryers in the unit. Upgraded tile flooring, granite counter tops, and full bathroom remodel with shower and tub combo are just a few of the many improvements made. See Documents tab for complete list of all improvements. Property is performing well and there is room for rent increase as leases expire.

Listing Details MLS# 6224390

Location, Tax & Legal

Map Code/Grid: M34
House Number: 1727
Compass: W
Street Name: MOUNTAIN VIEW
St Suffix: Road
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85021
Zip4: 0951
Country: US
County Code: Maricopa
Subdivision: Crestview
Assessor Number: 158-21-067
Tax Year: 2020
Assessor's Map #: 21
Legal Description (Abbrev): LOT 7 BLOCK 1 IDLE EASE MCR 003320
Assessor's Parcel #: 67
Add'l Parcels: No
Tax Municipality: Maricopa - COUNTY
Census Tract: 104501
Taxes: 5724
Legal: LOT 7 BLOCK 1 IDLE EASE MCR 003320
Marketing Name: Mountain View Apartments

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: irregular
Year Built: 1985
Uncvrd Parking Spcs: 22
Total # of Units: 16
# of Buildings: 2
Zoning: R4
Flood Zone: No
Elementary School District: Washington Elementary District
High School District: Glendale Union High School District
Elementary School: Washington Elementary School
Jr. High School: Washington Elementary School - Phoenix
High School: Sunnyslope High School

Remarks Misc

Cross Street: 19th Ave & Mountain View Rd
Directions: South on 19th Ave, East on Mountain View Rd. Property on South side. DO NOT DISTURB TENANTS - DRIVE BY ONLY

Status Change Info

Off Market Date: 2021-07-28
Under Contract Date: 2021-07-26
Close of Escrow Date: 2021-08-13

Legal Info

Township: 3N
Range: 3E
Section: 30
Block: Yes
Lot Number: 7

More Information

Income Expenses

Gross Annual Sch Inc: 191520
Net Operating Income: 158855

2 Bedroom Units

# 2 Bedroom Units: 16
Avg Rent: 990
Avg SqFt: 820
# Baths: Yes

Sold Info

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

Project Type

13 - 24 Units: Yes

Construction

Wood Frame: Yes

Const - Finish

Painted: Yes
Stucco: Yes

Roofing

Composition: Yes

Floors

Ceramic Tile: Yes

Sale Includes

Land & Building: Yes
Laundry Equipment: Yes

Income & Expenses

Annual Elec Exp: 402
Annual Ins Exp: 6500
Annual Landscape Exp: 1760
Annual Maint Exp: 1106
Annual Trash Exp: 5954
Annual Wtr/Swr Exp: 6146
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 27592
Other Income: 1320
Vacancy Allowance: 0.03
Adjusted Gross Inc: 187054.8

Pmt & Rate Info

Cap Rate: 4.89
Equity: 3250000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Lockbox Type

None: Yes

Community Features

Barbecue: Yes

Heating

Electric: Yes

Cooling

Electric: Yes
Heat Pump: Yes

Exterior Amenities

Cable TV Available: Yes
Patio/Balcony: Yes

Interior Features

Unfurnished: Yes
Fire/Smoke Alarm(s): Yes
Mini Blinds: 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 Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes
Master Meter: Yes

Sewer

Sewer - Public: Yes

Parking Features

Paved: Yes
Assigned: Yes

Electric

APS: Yes
Individual Meter: Yes

Gas

None: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes
Landscaping: Yes

New Financing

Conventional: Yes
No Carry: Yes
1031 Exchange: Yes

Special

Owner/Agent: Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Reports/Disclosures

None: Yes

Environmental

None: 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: 13 - 24 Units Construction: Wood Frame Const - Finish: Painted; Stucco Roofing: Composition Floors: Ceramic Tile Sale Includes: Land & Building; Laundry Equipment Community Features: Barbecue Exterior Amenities: Cable TV Available; Patio/Balcony Interior Features: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer Cooling: Electric; Heat Pump Water Source: City Franchise; Master Meter Sewer: Sewer - Public Electric: APS; Individual Meter Gas: None Parking Features: Assigned; Paved Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner Special: Owner/Agent Lockbox Type: None Existing 1st Loan: Treat as Free&Clear New Financing: Conventional; No Carry; 1031 Exchange Environmental: None

Listing Office: Realty ONE Group

Last Updated: August - 14 - 2021