1741 W MOUNTAIN VIEW Road, Phoenix, AZ 85021 (MLS# 5895323)

1741 W MOUNTAIN VIEW Road, Phoenix, AZ 85021

$1,300,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $1,300,000 Last Modified: 4/16/2019

Overview

Description

Beautful 16 unit property fully leased!, pool surface was replaced 5 years ago (no cracks), new epoxy on cool decking 2019, new pool tools and auto chlorinator replaced 2019, New architectural shingle roof installed 2019, and new exterior paint 2019, New mailbox system installed 2019, updated all exterior lighting to LED 2019, tenant assigned parking with parking pass. 15 of the 16 unit have been updated with new paint, new vinyl plank flooring, new modern light fixtures, and 2.5'' Faux wood blinds. All units have full sized washer and dryers in the unit. Average rent is $782.34 per unit with room to increase. Long term tenants in place, some over 10 years. Listing Agent has a financial interest in the property

Listing Details MLS# 5895323

Location, Tax & Legal

Map Code/Grid: M34
House Number: 1741
Compass: W
Street Name: MOUNTAIN VIEW
St Suffix: Road
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85021
Country: US
County Code: Maricopa
Subdivision: IDLE EASE
Assessor Number: 158-21-067
Tax Year: 2017
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: 5445
Legal: LOT 7 BLOCK 1 IDLE EASE MCR 003320
Marketing Name: IDLE EASE

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: irregular
Year Built: 1985
Uncvrd Parking Spcs: 28
Total # of Units: 16
# of Buildings: 3
Zoning: R4
Elementary School District: Washington Elementary District
High School District: Glendale Union High School District

Remarks Misc

Cross Street: 19th Ave and Mountain View Rd
Directions: 19th Avenue to Mountain View, East to property.DO NOT DISTURB TENANTS. Front building is address as 1727 back two are 1741. Both addresses included.

Status Change Info

Off Market Date: 2019-04-02
Under Contract Date: 2019-03-30
Close of Escrow Date: 2019-04-15

Legal Info

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

More Information

Income Expenses

Gross Annual Sch Inc: 150210
Net Operating Income: 83233.4

2 Bedroom Units

# 2 Bedroom Units: 16
Avg Rent: 782.34
Avg SqFt: 820
# Baths: Yes

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

13 - 24 Units: Yes

Construction

Wood Frame: Yes

Const - Finish

Painted: Yes
Stucco: Yes

Roofing

Composition: Yes

Floors

Vinyl: Yes
Carpet: Yes

Sale Includes

Pool Equipment: Yes
Laundry Equipment: Yes

Income & Expenses

Annual Elec Exp: 2300
Annual Gas Exp: 0
Annual Ins Exp: 3148
Annual Land Lse Exp: 0
Annual Landscape Exp: 2400
Annual Legal & Acctg: 900
Annual Maint Exp: 2000
Annual Mgmt Exp: 6720
Annual Trash Exp: 4749
Annual Wtr/Swr Exp: 7260
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 1200
Operating Exp: 36122
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 142699.5
Total Monthly Rental Income: 12407.5

Pmt & Rate Info

Cap Rate: 5.2
Down Payment: 0
Equity: 1600000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Community Features

Pool: Yes

Heating

Heat Pump: Yes
Electric: Yes

Cooling

Electric: Yes
Heat Pump: Yes

Exterior Amenities

Landscape Water System: Yes
Desert Landscaping: Yes
Partially Fenced: Yes
Curb(s) & Gutter(s): Yes
Satellite Dish: Yes
Cable TV Available: Yes
Sidewalk(s): 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

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

On Street: Yes
1 Space/Unit: Yes
Paved: Yes
Add'l Parking Avail: Yes
Assigned: Yes

Electric

APS: Yes
Individual Meter: Yes

Gas

None: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes
Landscaping: Yes
Pool Maintenance: Yes

New Financing

Conventional: Yes
No Carry: Yes
1031 Exchange: Yes

Special

Accept Backups (CLO): Yes

Existing 1st Loan

Conventional: Yes

Existing 1st Loan Type

Fixed: Yes

Existing 1st Loan Terms

Non Assumable: 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

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: Vinyl; Carpet Sale Includes: Pool Equipment; Laundry Equipment Community Features: Pool Exterior Amenities: Landscape Water System; Desert Landscaping; Partially Fenced; Curb(s) & Gutter(s); Satellite Dish; Cable TV Available; Sidewalk(s); Patio/Balcony Interior Features: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds Appliances Included: Free-Standing Range; Refrigerator; Washer/Dryer Heating: Heat Pump Cooling: Electric; Heat Pump Water Source: City Franchise; Master Meter Sewer: Sewer - Public Electric: APS; Individual Meter Gas: None Parking Features: On Street; 1 Space/Unit; Add'l Parking Avail; Assigned; Paved Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping; Pool Maintenance Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner Special: Accept Backups (CLO) Existing 1st Loan: Conventional Existing 1st Loan Type: Fixed Existing 1st Loan Terms: Non Assumable 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; No Carry; 1031 Exchange Environmental: None

Listing Office: HomeSmart

Last Updated: April - 16 - 2019