3416 N 37TH Street, Phoenix, AZ 85018 (MLS# 5592838)

3416 N 37TH Street, Phoenix, AZ 85018

$2,385,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $2,385,000 Last Modified: 7/18/2017

Overview

Description

Trinity on 37th is a 12-unit contemporary boutique apartment community located in a highly desirable east Phoenix/Lower Arcadia location that has recently been completely renovated and repositioned with premium finishes. The property is made of block construction with pitched composition shingle roofs and is individually-metered for electricity. The unit mix is comprised of all two-bedroom, two-bathroom floor plans that are spacious, well designed and average approximately 996 square feet. The units have been completely renovated and feature modern shaker style cabinetry with brushed nickel hardware, new black countertops with white subway tile backsplashes, polished concrete flooring, and full-size, high-end stainless steel appliances.

Listing Details MLS# 5592838

Location, Tax & Legal

Map Code/Grid: P35
House Number: 3416
Compass: N
Street Name: 37TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85018
Zip4: 5821
Country: US
County Code: Maricopa
Assessor Number: 127-24-037
Tax Year: 2016
Assessor's Map #: 24
Legal Description (Abbrev): E 259.84' OF N2 S2 SW4 SW4 NE4 EX E 20' RD .91AC
Assessor's Parcel #: 37
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 110902
Taxes: 4152.6
Legal: E 259.84' OF N2 S2 SW4 SW4 NE4 EX E 20' RD .91AC
Marketing Name: Trinity on 37th

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 239.84' x 167.04'
Year Built: 1960
Uncvrd Parking Spcs: 15
Total # of Units: 12
# of Buildings: 6
Zoning: R-3
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District

Remarks Misc

Cross Street: Osborn Road & 36th Street

Status Change Info

Off Market Date: 2017-05-11
Under Contract Date: 2017-05-11
Close of Escrow Date: 2017-06-18

Legal Info

Township: 2N
Range: 3E
Section: 25

More Information

Income Expenses

Gross Annual Sch Inc: 211200
Net Operating Income: 151298

2 Bedroom Units

# 2 Bedroom Units: 12
Avg Rent: 1467
Avg SqFt: 996
# Baths: 2

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

5 - 12 Units: Yes

Construction

Block: Yes

Const - Finish

Painted: Yes

Roofing

Composition: Yes

Floors

Concrete: 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: 0
Operating Exp: 4152.6
Other Income: 2100
Vacancy Allowance: 0.1
Adjusted Gross Inc: 191970

Pmt & Rate Info

Cap Rate: 6.34
Down Payment: 715500
Equity: 2385000
Down Payment %: 30
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Community Features

No Pool: Yes

Heating

Individual: Yes

Cooling

Electric: Yes
Individual: Yes

Exterior Amenities

Landscape Water System: Yes

Interior Features

Unfurnished: Yes
Mini Blinds: Yes

Tenant Pays

Electricity: Yes

Appliances Included

Dishwasher: Yes
Refrigerator: Yes
Free-Standing Range: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

1 Space/Unit: Yes

Electric

Individual Meter: Yes

Gas

SW Gas: Yes
Master Meter: Yes

Owner Pays

Water: Yes
Sewer: Yes
Gas: Yes
Trash Collection: Yes

New Financing

Conventional: 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

1 Bedroom Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 5 - 12 Units Construction: Block Const - Finish: Painted Roofing: Composition Floors: Concrete Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Landscape Water System Interior Features: Unfurnished; Mini Blinds Appliances Included: Free-Standing Range; Refrigerator; Dishwasher Heating: Individual Cooling: Electric; Individual Water Source: City Franchise Sewer: Sewer - Public Electric: Individual Meter Gas: SW Gas; Master Meter Parking Features: 1 Space/Unit Road Surface Type: Asphalt Owner Pays: Water; Gas; Trash Collection Tenant Pays: Electricity 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: Conventional Environmental: None

Listing Office: CBRE, Inc

Last Updated: July - 18 - 2017