2014 W BERRIDGE Lane, Phoenix, AZ 85015

$2,475,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $2,475,000 Last Modified: 11/27/2018

Overview

Description

Signature 18 is an 18-unit garden-style apartment community located just west of 19th Avenue and north of Bethany Home Road within the gentrifying 19North neighborhood. Built in 1961, the property is made of block construction with built-up roofs and is individually-metered for electricity. The unit mix is comprised of one, two and three bedroom/two-bath floorplans that are extremely spacious, very well designed and range in size from ±600 to ±1,000 square feet. Interior unit features include faux wood-plank vinyl flooring, new stainless steel appliances, shaker-style kitchen cabinetry, new countertops with decorative glass tile backsplashes, contemporary bathroom vanities, porcelain tile shower surrounds, new brushed nickel fixtures and in-suite washer/dryers.

Supplements: The property is situated on approximately 0.64 acres and is professionally landscaped with lush turf, mature shade trees and low maintenance desert plants. Exterior amenities include a large central courtyard with sparkling swimming pool, pedestrian gated entry, covered parking, exterior LED lighting, and on-site leasing office. Signature 18 offe ...

Listing Details MLS# 5798349

Location, Tax & Legal

Map Code/Grid
N33
House Number
2014
Compass
W
Street Name
BERRIDGE
St Suffix
Lane
City/Town Code
Phoenix
State/Province
AZ
Zip Code
85015
Zip4
2127
Country
US
County Code
Maricopa
Subdivision
PARK MARYLAND AMD
Assessor Number
156-13-086-A
Tax Year
2017
Assessor's Map #
13
Legal Description (Abbrev)
LOT 10 PARK MARYLAND AMD MCR 007625
Assessor's Parcel #
86
Assessor Parcel Ltr
A
Add'l Parcels
No
Tax Municipality
Phoenix
Census Tract
106802
Taxes
6532.42
Legal
LOT 10 PARK MARYLAND AMD MCR 007625
Marketing Name
Signature 18

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
214.8 x 128.6
Year Built
1961
Total # of Units
18
# of Buildings
3
Zoning
R-4
Elementary School District
Washington Elementary District
High School District
Glendale Union High School District
Uncvrd Parking Spcs
0

Remarks Misc

Cross Street
N. 19th Avenue and W. Bethany Home Road

Status Change Info

Off Market Date
2018-09-18
Under Contract Date
2018-08-16
Close of Escrow Date
2018-10-28

Legal Info

Township
2N
Range
2E
Section
12
Lot Number
10

More Information

Income Expenses

Gross Annual Sch Inc
219600
Net Operating Income
152543

1 Bedroom Units

# 1 Bedroom Units
4
Avg Rent
850
Avg SqFt
600
# Baths
Yes

2 Bedroom Units

# 2 Bedroom Units
6
Avg Rent
950
Avg SqFt
800
# Baths
Yes

3 Bedrooms Units

# 3 Bedroom Units
8
Avg Rent
1150
Avg SqFt
1000
# Baths
2

Contact Info

List Agent Home Phn
602-735-5634

Sold Info

Loan Type
Conventional
Loan Years
30
Payment Type
Fixed
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

Block
Yes

Const - Finish

Painted
Yes

Roofing

Built-Up
Yes

Floors

Vinyl
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
Operating Exp
6532.42
Other Income
4500
Vacancy Allowance
0.06
Adjusted Gross Inc
210654

Pmt & Rate Info

Cap Rate
6.04
Down Payment
757500
Equity
2525000
Down Payment %
30
Monthly Payments
0
Total Owed
0
Assessment Balance
0

Payment Includes

Principal
Yes
Interest
Yes

Community Features

Pool
Yes
Manager Res/Office
Yes

Heating

Electric
Yes
Individual
Yes

Cooling

Electric
Yes
Individual
Yes

Exterior Amenities

Landscape Water System
Yes
Green Landscaping
Yes
Desert Landscaping
Yes
Fenced
Yes

Interior Features

Unfurnished
Yes
Mini Blinds
Yes

Tenant Pays

Electricity
Yes

Appliances Included

Dishwasher
Yes
Microwave
Yes
Refrigerator
Yes
Built-In Range
Yes
Washer/Dryer
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

Electric

Individual Meter
Yes

Gas

SW Gas
Yes

Owner Pays

Water
Yes
Sewer
Yes
Trash Collection
Yes

New Financing

Conventional
Yes

Existing 1st Loan

Conventional
Yes

Existing 1st Loan Type

Not Applicable
Yes

Existing 1st Loan Terms

Not Applicable
Yes

Existing 2nd Loan

Treat as Free&Clear
Yes

Existing 2nd Loan Type

Not Applicable
Yes

Existing 2nd Loan Terms

Not Applicable
Yes

Existing 3rd Loan

Treat as Free&Clear
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: 13 - 24 Units Construction: Block Const - Finish: Painted Roofing: Built-Up Floors: Vinyl Sale Includes: Land & Building Payment Includes: Principal; Interest Community Features: Pool; Manager Res/Office Exterior Amenities: Landscape Water System; Green Landscaping; Desert Landscaping; Fenced Interior Features: Unfurnished; Mini Blinds Appliances Included: Built-In Range; Refrigerator; Dishwasher; Microwave; Washer/Dryer Heating: Individual Cooling: Electric; Individual Water Source: City Franchise Sewer: Sewer - Public Electric: Individual Meter Gas: SW Gas Parking Features: >1 Space Per Unit Road Surface Type: Asphalt Owner Pays: Water; Trash Collection Tenant Pays: Electricity Source of Fincl Data: Owner Existing 1st Loan: Conventional Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable Existing 2nd Loan: Treat as Free&Clear Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Treat as Free&Clear Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Conventional Environmental: None
IDX
Listing Office: CBRE, Inc
Last Updated: November - 27 - 2018
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