3208 E FLOWER Street, Phoenix, AZ 85018 (MLS# 5714865)

3208 E FLOWER Street, Phoenix, AZ 85018

$2,675,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $2,675,000 Last Modified: 4/22/2019

Overview

Description

Flower Apartments is a 22-unit community ideally located in the heart of the lower Arcadia/Biltmore neighborhood, one of the most sought after areas in Phoenix. Tenants enjoy immediate access to shopping, entertainment, dining and to major employment corridors. All units were refreshed within the past five years and recently some of them were remodeled with on trend fixtures and decor as well as stainless steel appliances. These units have demonstrated higher rent potential underlining additional value add opportunity through a continued program as leases turn. Community amenities include a recently updated swimming pool and gated entry.

Listing Details MLS# 5714865

Location, Tax & Legal

Map Code/Grid: P35
House Number: 3208
Compass: E
Street Name: FLOWER
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85018
Zip4: 6271
Country: US
County Code: Maricopa
Subdivision: VALENCIA ACRES
Assessor Number: 127-32-020
Tax Year: 2017
Assessor's Map #: 32
Legal Description (Abbrev): VALENCIA AC LOT 8 EX W 200' .70 AC
Assessor's Parcel #: 20
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 110901
Taxes: 11634
Legal: VALENCIA AC LOT 8 EX W 200' .70 AC
Marketing Name: GPCI Multifamily

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 30486 sq. ft.
Year Built: 1986
Uncvrd Parking Spcs: 22
Total # of Units: 22
# of Buildings: 2
Zoning: Multifamily
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District

Remarks Misc

Cross Street: N. 32nd Street

Status Change Info

Off Market Date: 2018-09-04
Under Contract Date: 2018-06-08
Close of Escrow Date: 2018-10-31

Legal Info

Township: 2N
Range: 3E
Section: 25
Lot Number: 8

More Information

1 Bedroom Units

# 1 Bedroom Units: 8
Avg Rent: 727
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 14
Avg Rent: 815
# Baths: 2

Contact Info

List Agent Home Phn: 602-703-5277

Sold Info

Loan Type: Conventional
Payment Type: Other
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

Wood Frame: Yes
Steel Frame: Yes

Const - Finish

Stucco: Yes

Roofing

Composition: Yes

Floors

Concrete: Yes
Vinyl: Yes
Wood: Yes
Carpet: Yes

Sale Includes

Land & Building: Yes
Pool Equipment: 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: 11634
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0

Pmt & Rate Info

Down Payment: 0
Equity: 2795000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Community Features

Pool: Yes
Heated Pool(s): Yes

Cooling

Ceiling Fan(s): Yes
Heat Pump: Yes

Exterior Amenities

Fenced: Yes
Curb(s) & Gutter(s): Yes
Cable TV Available: Yes
Patio/Balcony: Yes
Separate Storage: Yes
Guard Gate: Yes

Tenant Pays

Electricity: Yes
Cable TV: Yes

Appliances Included

Dishwasher: Yes
Disposal: Yes
Microwave: Yes
Refrigerator: Yes
Free-Standing Range: Yes
Washer/Dryer: Yes
W/D Hookup: 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

Individual Meter: Yes

Gas

None: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes

New Financing

Conventional: Yes
FHA: Yes
1031 Exchange: Yes

Existing 1st Loan

Treat as Free&Clear: 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

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 13 - 24 Units Construction: Wood Frame; Steel Frame Const - Finish: Stucco Roofing: Composition Floors: Concrete; Vinyl; Wood; Carpet Sale Includes: Land & Building; Pool Equipment Community Features: Pool; Heated Pool(s) Exterior Amenities: Fenced; Curb(s) & Gutter(s); Cable TV Available; Patio/Balcony; Separate Storage; Guard Gate Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer; W/D Hookup Cooling: Ceiling Fan(s); Heat Pump Water Source: City Franchise Sewer: Sewer - Public Electric: Individual Meter Gas: None Parking Features: 1 Space/Unit; Free; Paved Road Surface Type: Asphalt Owner Pays: Water; Trash Collection Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner Existing 1st Loan: Treat as Free&Clear Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable 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: FHA; Conventional; 1031 Exchange Environmental: None

Documents

Flyer OM ›

Listing Office: GPCI AZ

Last Updated: April - 22 - 2019