- Save your searches
- Get updates on listings
- Track listings
- Add notes and messages
- Personalize your dashboard
25 E EVA Street, Phoenix, AZ 85020
Overview
Description
Supplements: ... (Read more) The community has a unit mix consisting of studio, one-bedroom and two-bedroom floor plans that are spacious and well designed and average approximately 606 square feet. A portion of the units have been upgraded and include new ceramic tile flooring, countertops, cabinets, appliances and HVAC units. Additional unit amenities include fully appointed kitchens with electric appliances, dishwashers, ceramic tile shower surrounds, walk-in closets, vertical blinds and ceiling fans. The upgraded units rent at over a $100 premium compared to the standard units, leaving significant value-add potential for an investor to continue interior renovations to the remaining units. The Sierra is situated on approximately 0.7 acres and features attractive lush turf landscaping with mature shade trees. Recent exterior capital improvements include paint and trim, installation of security access gates, resurfaced pool with new equipment and dual drains, exterior lighting and professionally designed landscaping. Additional community amenities include an on-site laundry facility, a shaded community sitting area with barbeques and covered parking. The Sierra offers an investor the opportunity to acquire a garden-style apartment community located in a strong North Mountain submarket with stabilized in-place yield and additional value-add potential. Over the last year, the North Mountain submarket average rent has increased by 7% and the average occupancy has outperformed the metropolitan Phoenix average over the same time period as well. With the improving submarket fundamentals coupled with the Phoenix market's continual improvement and recovery, The Sierra is well positioned to achieve continual increases in revenue.
Listing Details MLS# 5307625
Location, Tax & Legal
- Map Code/Grid
- M34
- House Number
- 25
- Compass
- E
- Street Name
- EVA
- St Suffix
- Street
- City/Town Code
- Phoenix
- State/Province
- AZ
- Zip Code
- 85020
- Zip4
- 2440
- Country
- US
- County Code
- Maricopa
- Subdivision
- MCEWEN TRACT
- Assessor Number
- 159-47-007
- Tax Year
- 2014
- Assessor's Map #
- 47
- Legal Description (Abbrev)
- MC EWEN TRACT
- Assessor's Parcel #
- 7
- Add'l Parcels
- Yes
- Tax Municipality
- Maricopa - COUNTY
- Census Tract
- 104600
- Taxes
- 5911.32
- Legal
- MC EWEN TRACT
- Marketing Name
- The Sierra
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- 30056
- Year Built
- 1960
- Total # of Units
- 22
- # of Buildings
- Yes
- Zoning
- C-3
- Elementary School District
- Washington Elementary District
- High School District
- Glendale Union High School District
- Uncvrd Parking Spcs
- 0
Status Change Info
- Off Market Date
- 2015-08-24
- Under Contract Date
- 2015-08-14
- Close of Escrow Date
- 2015-09-24
Legal Info
- Township
- 3N
- Range
- 3E
- Section
- 29
- Block
- A
- Lot Number
- 7
More Information
Income Expenses
- Gross Annual Sch Inc
- 179004
- Net Operating Income
- 82427
Efficiency Units
- # Efficiency Units
- 6
- Avg Rent
- 587
- Avg SqFt
- 2304
- # Baths
- Yes
1 Bedroom Units
- # 1 Bedroom Units
- 8
- Avg Rent
- 665
- Avg SqFt
- 541
- # Baths
- Yes
2 Bedroom Units
- # 2 Bedroom Units
- 8
- Avg Rent
- 725
- Avg SqFt
- 837
- # Baths
- Yes
Contact Info
- List Agent Home Phn
- 602-735-5634
Sold Info
- Loan Type
- Conventional
- 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
- Foam
- Yes
Floors
- Ceramic Tile
- 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
- 59440
- Other Income
- 3300
- Vacancy Allowance
- 0.05
- Adjusted Gross Inc
- 174009.17
Pmt & Rate Info
- Down Payment
- 0
- Equity
- 1
- Down Payment %
- 0
- Monthly Payments
- 0
- Total Owed
- 0
- Assessment Balance
- 0
Community Features
- Pool
- Yes
- Manager Res/Office
- Yes
- Barbecue
- Yes
Heating
- Electric
- Yes
Cooling
- Ceiling Fan(s)
- Yes
- Window/Wall Unit
- Yes
- Individual
- Yes
Exterior Amenities
- Green Landscaping
- Yes
- Fenced
- Yes
- Patio/Balcony
- Yes
- Security Light(s)
- Yes
Interior Features
- Vertical Blinds
- Yes
Tenant Pays
- Electricity
- Yes
Appliances Included
- Microwave
- Yes
- Refrigerator
- Yes
- Free-Standing Range
- 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
- Carport
- Yes
- Paved
- Yes
Electric
- Individual Meter
- Yes
Gas
- Master Meter
- Yes
Owner Pays
- Water
- Yes
- Sewer
- Yes
- Gas
- Yes
New Financing
- Conventional
- Yes
Existing 1st Loan
- Conventional
- Yes
Existing 1st Loan Type
- Fixed
- 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
3 Bedrooms Units
- Avg Rent
- 0
4 Bedrooms Units
- Avg Rent
- 0
Property Features