2550 W Hazelwood Street, Phoenix, AZ 85017 (MLS# 5631196)

2550 W Hazelwood Street, Phoenix, AZ 85017

$2,600,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $2,600,000 Last Modified: 12/26/2024

Overview

Description

This investment offering includes one single family house (two bedrooms, one den and one bathroom) and the Carole Arms apartments, a 44-unit garden-style apartment community located in a nice neighborhood due south of the rapidly growing Grand Canyon University on Camelback Road. While the house was originally constructed in the 1950's, the apartment complex was originally constructed in 1985 and has undergone several rounds of upgrades and improvements over the years. The apartment complex includes a strong unit mix with 55% two bedroom and 45% one bedroom units. Each unit has individual meters for electricity and individual roof-mounted HVAC units. The apartment property is comprised of three large residential buildings (two levels) and one building for the office and laundry center. The

Listing Details MLS# 5631196

Location, Tax & Legal

Map Code/Grid: C90
House Number: 2550
Compass: W
Street Name: Hazelwood
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85017
Zip4: 3705
Country: US
County Code: Maricopa
Assessor Number: 154-12-029
Tax Year: 2016
Building Number: 2535
Assessor's Map #: 12
Legal Description (Abbrev): W 255' OF N2 SW4 NE4 SW4 NW4 EX N 30' .80 AC
Assessor's Parcel #: 29
Add'l Parcels: Yes
Tax Municipality: Maricopa - COUNTY
Census Tract: 109001
Taxes: 7630.92
Legal: W 255' OF N2 SW4 NE4 SW4 NW4 EX N 30' .80 AC
Marketing Name: Carol Arms

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 60984 SQ feet
Year Built: 1985
Uncvrd Parking Spcs: 66
Total # of Units: 44
# of Buildings: 4
Zoning: R-4 phoenix
Elementary School District: Alhambra Elementary District
High School District: Phoenix Union High School District

Remarks Misc

Cross Street: Camelback/27th avenue
Directions: The Carole Arms apartment complex and its adjacent house are located just west of the Interstate 17 Freeway access road, and due south of Grand Canyon University, along the north side of Hazelwood Str

Status Change Info

Off Market Date: 2017-11-30
Under Contract Date: 2017-09-07
Close of Escrow Date: 2017-11-29

Legal Info

Township: 2N
Range: 2E
Section: 24
Lot Number: 12

More Information

1 Bedroom Units

# 1 Bedroom Units: 20
Avg Rent: 540
Avg SqFt: 600
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 25
Avg Rent: 632
Avg SqFt: 805
# Baths: Yes

Contact Info

List Agent Home Phn: 60207900567
List Agent Hme Phn 2: 6027965946
List Agent Cell Phn2: 602-7965946
List Agent Pager: 4806120278

Sold Info

Loan Type: Conventional
Loan Years: 5
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession to Seller: 5
Buyer Concession $/%: $
Seller Concession to Buyer: 5
Seller Concession $/%: $

Project Type

25 - 50 Units: Yes

Other Type

House + Rental Units: Yes

Construction

Wood Frame: Yes

Const - Finish

Painted: Yes
Stucco: Yes

Roofing

Foam: Yes

Floors

Vinyl: Yes
Carpet: Yes

Sale Includes

Building(s) Only: Yes
Land & Building: Yes
Personal Property: Yes
Pool Equipment: Yes
Other (See Remarks): 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: 7630.92
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0

Pmt & Rate Info

Down Payment: 0
Equity: 2750000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Community Features

Pool: Yes

Heating

Wall Furnace: Yes
Electric: Yes
Central: Yes

Cooling

Ceiling Fan(s): Yes
Central Air: Yes
Individual: Yes

Exterior Amenities

Landscape Water System: Yes
Desert Landscaping: Yes
Partially Fenced: Yes

Interior Features

Unfurnished: Yes
Fire/Smoke Alarm(s): Yes
Vertical Blinds: Yes
Mini Blinds: Yes
Breakfast Bar: Yes

Tenant Pays

Electricity: Yes
Cable TV: Yes

Appliances Included

Disposal: Yes
Refrigerator: Yes
Built-In Range: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Free: Yes
1 Space/Unit: Yes
Paved: Yes

Electric

SRP: Yes

Gas

None: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes
Landscaping: Yes
Pool Maintenance: Yes

New Financing

Affordable Housing: Yes

Special

Accept Backups (CLO): Yes

Existing 1st Loan

Conventional: Yes

Existing 1st Loan Type

Not Applicable: Yes

Existing 1st Loan Terms

Non Assumable: 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

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 25 - 50 Units Other Type: House + Rental Units Construction: Wood Frame Const - Finish: Painted; Stucco Roofing: Foam Floors: Vinyl; Carpet Sale Includes: Building(s) Only; Land & Building; Personal Property; Pool Equipment; Other (See Remarks) Community Features: Pool Exterior Amenities: Landscape Water System; Desert Landscaping; Partially Fenced Interior Features: Unfurnished; Fire/Smoke Alarm(s); Vertical Blinds; Mini Blinds; Breakfast Bar Appliances Included: Built-In Range; Refrigerator; Disposal Heating: Central; Wall Furnace Cooling: Ceiling Fan(s); Individual; Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: None Parking Features: 1 Space/Unit; Free; Paved Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping; Pool Maintenance Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner Special: Accept Backups (CLO) Existing 1st Loan: Conventional Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Non Assumable 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: Affordable Housing Environmental: None

Documents

Income & expense 2016 ›

term sheet2 ›

Listing Office: Orion Investment Real Estate

Last Updated: December - 26 - 2024