2525 W STATE Avenue 2, Phoenix, AZ 85051
$2,250,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$2,250,000
Last Modified:
5/03/2025
Overview
Description
Listing Details MLS# 6544267
Location, Tax & Legal
- Map Code/Grid
- N33
- House Number
- 2525
- Compass
- W
- Street Name
- STATE
- St Suffix
- Avenue
- City/Town Code
- Phoenix
- State/Province
- AZ
- Zip Code
- 85051
- Zip4
- 6725
- Country
- US
- County Code
- Maricopa
- Subdivision
- STATE AVENUE 6 CONDOMINIUMS
- Assessor Number
- 157-31-149
- Tax Year
- 2022
- Unit #
- 2
- Assessor's Map #
- 31
- Legal Description (Abbrev)
- TRACT CE STATE AVENUE 6 CONDOMINIUMS MCR 163049
- Assessor's Parcel #
- 149
- Add'l Parcels
- Yes
- Tax Municipality
- Phoenix
- Census Tract
- 106001
- Taxes
- 1000
- Legal
- TRACT CE STATE AVENUE 6 CONDOMINIUMS MCR 163049
- Marketing Name
- State Avenue
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- 192.46X97
- Year Built
- 2023
- Uncvrd Parking Spcs
- 2
- Total # of Units
- 6
- # of Buildings
- 3
- Zoning
- R-3
- Elementary School District
- Washington Elementary District
- High School District
- Glendale Union High School District
- Elementary School
- Washington Elementary School
- Jr. High School
- Palo Verde Middle School
- High School
- Glendale High School
Remarks Misc
- Cross Street
- 27th Ave & State Ave
- Directions
- From North Phoenix I-17 S to N Black Cyn Hwy E. Take exit 206 Northern Ave, Merge onto N Black Cyn Hwy E, turn W on State Ave.
Status Change Info
- Off Market Date
- 2023-06-03
- Under Contract Date
- 2023-04-19
- Close of Escrow Date
- 2023-06-12
Legal Info
- Township
- 2N
- Range
- 2E
- Section
- Yes
- Lot Number
- 114
More Information
Income Expenses
- Gross Annual Sch Inc
- 165600
- Net Operating Income
- 140220
3 Bedrooms Units
- # 3 Bedroom Units
- 6
- Avg Rent
- 2300
- Avg SqFt
- 1040
- # Baths
- 2
Sold Info
- Loan Type
- Cash
- Payment Type
- Balloon
- Closing Cost Split
- Normal - N
- Buyer Concession $/%
- $
- Seller Concession $/%
- $
- Buyer Concession to Seller
- 0
- Seller Concession to Buyer
- 0
Project Type
- 5 - 12 Units
- Yes
Construction
- Wood Frame
- Yes
Const - Finish
- Painted
- Yes
Roofing
- Other
- Yes
Floors
- Vinyl
- Yes
- Carpet
- Yes
Sale Includes
- Land & Building
- Yes
Income & Expenses
- Owner Association
- No
- Annual Ownr Asoc Fee
- 0
- Operating Exp
- 1000
- Other Income
- 0
- Vacancy Allowance
- 0.05
- Adjusted Gross Inc
- 157320
Pmt & Rate Info
- Cap Rate
- 5.84
- Equity
- 2400000
- Down Payment %
- 0
- Monthly Payments
- 0
- Total Owed
- 0
Lockbox Type
- None
- Yes
Community Features
- No Pool
- Yes
Heating
- Electric
- Yes
Cooling
- Ceiling Fan(s)
- Yes
- Heat Pump
- Yes
Exterior Amenities
- Curb(s) & Gutter(s)
- Yes
- Sidewalk(s)
- Yes
Interior Features
- Unfurnished
- Yes
- Fire/Smoke Alarm(s)
- Yes
- Mini Blinds
- Yes
Tenant Pays
- Other (See Remarks)
- Yes
Appliances Included
- Dishwasher
- Yes
- Disposal
- Yes
- Microwave
- Yes
- Refrigerator
- Yes
- Free-Standing Range
- Yes
- W/D Hookup
- Yes
Road Access Type
- Dedicated Street
- Yes
Road Surface Type
- Asphalt
- Yes
Source of Fincl Data
- Owner
- Yes
- Projected Proforma
- Yes
Water Source
- City Franchise
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- Carport
- Yes
- >1 Space Per Unit
- Yes
- Add'l Parking Avail
- Yes
- Other
- Yes
Electric
- SRP
- Yes
Gas
- None
- Yes
Owner Pays
- Other
- Yes
New Financing
- VA
- Yes
- Conventional
- Yes
- FHA
- Yes
- 1031 Exchange
- Yes
Existing 1st Loan
- Treat as Free&Clear
- Yes
Reports/Disclosures
- None
- Yes
Environmental
- None
- Yes
Efficiency Units
- Avg Rent
- 0
1 Bedroom Units
- Avg Rent
- 0
2 Bedroom Units
- Avg Rent
- 0
4 Bedrooms Units
- Avg Rent
- 0
Property Features
Project Type:
5 - 12 Units
Construction:
Wood Frame
Const - Finish:
Painted
Roofing:
Other
Floors:
Vinyl; Carpet
Sale Includes:
Land & Building
Community Features:
No Pool
Exterior Amenities:
Curb(s) & Gutter(s); Sidewalk(s)
Interior Features:
Unfurnished; Fire/Smoke Alarm(s); Mini Blinds
Appliances Included:
Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; W/D Hookup
Cooling:
Ceiling Fan(s); Heat Pump
Water Source:
City Franchise
Sewer:
Sewer - Public
Electric:
SRP
Gas:
None
Parking Features:
Carport; >1 Space Per Unit; Add'l Parking Avail; Other
Road Access Type:
Dedicated Street
Road Surface Type:
Asphalt
Owner Pays:
Other
Tenant Pays:
Other (See Remarks)
Source of Fincl Data:
Owner; Projected Proforma
Lockbox Type:
None
Existing 1st Loan:
Treat as Free&Clear
New Financing:
VA; FHA; Conventional; 1031 Exchange
Environmental:
None
Listing Office:
FSR Realty
Last Updated: May - 03 - 2025
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