2148 E POLK Street, Phoenix, AZ 85006

$2,510,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $2,510,000 Last Modified: 5/10/2025

Overview

Description

This 32-unit apartment project on ±1.14 acres is centrally located, with excellent freeway access and many nearby amenities. This property is an excellent value add opportunity or a prime candidate for redevelopment. Currently, 7 units are rented and habitable, with the remaining units with various levels of disrepair and fire damage. The sale is subject to bankruptcy court approval. Auction is scheduled on November 1, 2023 at 1:30 pm, location United States Bankruptcy Court for the District of Arizona, 230 N. First Avenue, Courtroom 702, Phoenix, Arizona 85003.

Listing Details MLS# 6598333

Location, Tax & Legal

House Number
2148
Compass
E
Street Name
POLK
St Suffix
Street
City/Town Code
Phoenix
State/Province
AZ
Zip Code
85006
Zip4
4071
Country
US
County Code
Maricopa
Subdivision
AVIATION HOMESITES
Assessor Number
116-01-054-A
Tax Year
2022
Assessor's Map #
1
Legal Description (Abbrev)
LOT 10 BLOCK 2 AVIATION HOMESITES MCR 003101
Assessor's Parcel #
54
Assessor Parcel Ltr
A
Add'l Parcels
Yes
Tax Municipality
Phoenix
Census Tract
113300
Taxes
2995
Legal
LOT 10 BLOCK 2 AVIATION HOMESITES MCR 003101
Marketing Name
None

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
See tax assessor
Year Built
1953
Total # of Units
32
# of Buildings
5
Zoning
R-4
Elementary School District
Wilson Elementary District
High School District
Phoenix Union High School District
Uncvrd Parking Spcs
0

Remarks Misc

Cross Street
Indian School Rd and 24th St
Directions
Van Buren east to 21st Street north 1 block to Polk East on Polk to apartment

Status Change Info

Off Market Date
2023-11-09
Under Contract Date
2023-09-21
Close of Escrow Date
2023-11-09

Legal Info

Township
1N
Range
3E
Section
3
Block
2
Lot Number
10

More Information

Showing Notification Methods

Showing Service
No Showing Service Used
Text
Yes
Email
Yes
Phone Call
Yes

1 Bedroom Units

# 1 Bedroom Units
30
# Baths
Yes
Avg Rent
0

2 Bedroom Units

# 2 Bedroom Units
2
# Baths
Yes
Avg Rent
0

Sold Info

Loan Type
Other
Payment Type
Other
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

Block
Yes

Const - Finish

Painted
Yes
Stucco
Yes

Roofing

Other
Yes

Floors

Other
Yes

Sale Includes

Land & Building
Yes

Income & Expenses

Owner Association
No
Annual Ownr Asoc Fee
0
Operating Exp
2995
Other Income
0
Vacancy Allowance
0
Adjusted Gross Inc
0

Pmt & Rate Info

Equity
2350000
Down Payment %
0
Monthly Payments
0
Total Owed
0

Lockbox Type

None
Yes

Community Features

No Pool
Yes

Heating

See Remarks
Yes

Cooling

Other
Yes
See Remarks
Yes

Exterior Amenities

Partially Fenced
Yes
Curb(s) & Gutter(s)
Yes
Sidewalk(s)
Yes

Tenant Pays

Other (See Remarks)
Yes

Appliances Included

Other
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Other (See Remarks)
Yes

Water Source

City Franchise
Yes

Sewer

Sewer - Public
Yes

Parking Features

Paved
Yes

Electric

APS
Yes

Gas

SW Gas
Yes

Owner Pays

Other
Yes
See Remarks
Yes

New Financing

Other (See Remarks)
Yes

Special

Court Approval Required
Yes

Reports/Disclosures

Other (See Remarks)
Yes

Environmental

Other (See Remarks)
Yes

Efficiency Units

Avg Rent
0

3 Bedrooms Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

Property Features

Project Type: 25 - 50 Units Construction: Block Const - Finish: Painted; Stucco Roofing: Other Floors: Other Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Partially Fenced; Curb(s) & Gutter(s); Sidewalk(s) Appliances Included: Other Heating: See Remarks Cooling: Other; See Remarks Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: Paved Road Surface Type: Asphalt Owner Pays: Other; See Remarks Tenant Pays: Other (See Remarks) Source of Fincl Data: Other (See Remarks) Special: Court Approval Required Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None New Financing: Other (See Remarks) Environmental: Other (See Remarks)
IDX
Listing Office: R.O.I. Properties
Last Updated: May - 10 - 2025
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