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21420 N 23RD Avenue, Phoenix, AZ 85027
Overview
Description
Supplements: ... (Read more) The unit mix consists of all one-bedroom floor plans that well designed and average approximately 550 square feet. Interior unit amenities include fully appointed kitchens with full-size electric appliances, vertical blinds and large bathroom vanities. The property is situated on approximately 0.69 acres and features low water use desert landscaping with mature shade trees. Community Amenities include a large swimming pool and on-site laundry facility. Current ownership has implemented minor improvements to the recently leased units and have achieved rental premiums of over $50. This leaves significant value-add potential for an investor to continue the improvements and capitalize on the rapidly increasing market rents. Over the last year, the North Phoenix submarket average rental rates increased by 8.0% to $1.08, higher than the metropolitan Phoenix average by 2.86%. Likewise, the average occupancy is 95% respectively. Strategic path of growth positions Desert Winds to benefit from accelerating fundamentals across the larger Phoenix metro. Numerous economic forecasts project Phoenix to lead major western markets in employment and population growth through 2017, offering an investor a unique value-add opportunity through continued rental increase.
Listing Details MLS# 5439304
Location, Tax & Legal
- Map Code/Grid
- J34
- House Number
- 21420
- Compass
- N
- Street Name
- 23RD
- St Suffix
- Avenue
- City/Town Code
- Phoenix
- State/Province
- AZ
- Zip Code
- 85027
- Zip4
- 2506
- Country
- US
- County Code
- Maricopa
- Subdivision
- BLACK CANYON HEIGHTS
- Assessor Number
- 209-07-022-C
- Tax Year
- 2015
- Assessor's Map #
- 7
- Legal Description (Abbrev)
- BLACK CANYON HTS N 69F LOT 22 EX W 69F TH/OF
- Assessor's Parcel #
- 22
- Assessor Parcel Ltr
- C
- Add'l Parcels
- Yes
- Tax Municipality
- Phoenix
- Census Tract
- 614700
- Taxes
- 6956.94
- Legal
- BLACK CANYON HTS N 69F LOT 22 EX W 69F TH/OF
- Marketing Name
- Desert Winds
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- 30056.4
- Year Built
- 1983
- Uncvrd Parking Spcs
- 30
- Total # of Units
- 28
- # of Buildings
- 2
- Zoning
- R-5
- Elementary School District
- Deer Valley Unified District
- High School District
- Deer Valley Unified District
Status Change Info
- Off Market Date
- 2016-08-02
- Under Contract Date
- 2016-06-05
- Close of Escrow Date
- 2016-08-01
Legal Info
- Township
- 4N
- Range
- 2E
- Section
- 24
- Lot Number
- 22
More Information
Income Expenses
- Net Operating Income
- 97840
1 Bedroom Units
- # 1 Bedroom Units
- 28
- Avg Rent
- 565
- Avg SqFt
- 550
- # Baths
- Yes
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
- 25 - 50 Units
- Yes
Construction
- Wood Frame
- Yes
Const - Finish
- Painted
- Yes
- Stucco
- Yes
Roofing
- Composition
- Yes
Floors
- Other
- 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
- Other Income
- 0
- Vacancy Allowance
- 0
- Adjusted Gross Inc
- 0
- Total Monthly Rental Income
- 0
Pmt & Rate Info
- Cap Rate
- 6.53
- Down Payment
- 0
- Equity
- 1498000
- Down Payment %
- 0
- Monthly Payments
- 0
- Total Owed
- 0
- Assessment Balance
- 0
Community Features
- Pool
- Yes
Heating
- None
- Yes
Cooling
- Individual
- Yes
Exterior Amenities
- Desert Landscaping
- Yes
- Fenced
- Yes
Interior Features
- Unfurnished
- Yes
Tenant Pays
- Electricity
- Yes
Appliances Included
- Free-Standing Range
- Yes
Road Surface Type
- Asphalt
- Yes
Source of Fincl Data
- Owner
- Yes
Water Source
- City Franchise
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- Paved
- Yes
Electric
- APS
- Yes
Gas
- None
- Yes
Owner Pays
- Water
- Yes
- Sewer
- 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
2 Bedroom Units
- Avg Rent
- 0
3 Bedrooms Units
- Avg Rent
- 0
4 Bedrooms Units
- Avg Rent
- 0
Property Features