3501 W MISSOURI Avenue, Phoenix, AZ 85019 (MLS# 4871857)

3501 W MISSOURI Avenue, Phoenix, AZ 85019

$1,426,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $1,426,000 Last Modified: 10/14/2024

Overview

Description

Missouri Meadows is a 62 unit garden-style apartment community located in Phoenix, Arizona. The property has great curb-appeal and tremendous frontage along 35th Avenue just north of Camelback Road. The community is located directly across the street from Grand Canyon University which has recently gone through a $60 million dollar renovation providing a great benefit to the local submarket through added employment and educational opportunities. Community amenities include a gated security entrance, swimming pool, barbecue and picnic areas, and laundry facilities. In addition, there is a rental office on-site for leasing. The rents are below market with the ability to add value and increase cash-flow by bringing the rents up to market. Please see document tab for financials.

Listing Details MLS# 4871857

Location, Tax & Legal

Map Code/Grid: N33
House Number: 3501
Compass: W
Street Name: MISSOURI
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85019
Zip4: 4550
Country: US
County Code: Maricopa
Assessor Number: 145-16-001-A
Tax Year: 2012
Assessor's Map #: 16
Assessor's Parcel #: 1
Assessor Parcel Ltr: A
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 107102
Taxes: 13766
Legal: E 180F OF N2 NE4 SE4 SEC 15 EX S 144F & EX E 40F & EX N 30F RD &
Marketing Name: Missouri Meadows

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 1.56 Acres
Year Built: 1979
Uncvrd Parking Spcs: 10
Total # of Units: 62
# of Buildings: 4
Zoning: M-H
Elementary School District: Phoenix Elementary District
High School District: Phoenix Union High School District

Remarks Misc

Cross Street: Camelback Rd and 35th Ave

Status Change Info

Off Market Date: 2013-03-15
Under Contract Date: 2013-02-26
Close of Escrow Date: 2013-03-12

Legal Info

Township: 2N
Range: 2E
Section: 15
Lot Number: n/a

More Information

Income Expenses

Net Operating Income: 153442

1 Bedroom Units

# 1 Bedroom Units: 60
Avg Rent: 450
Avg SqFt: 625
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 2
Avg Rent: 700
Avg SqFt: 950
# Baths: Yes

Sold Info

Loan Type: Cash
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Buyer Concession to Seller: 0
Seller Concession to Buyer: 0

Project Type

51 - 99 Units: Yes

Construction

Block: Yes

Const - Finish

Stucco: Yes

Roofing

Built-Up: Yes

Floors

Vinyl: Yes
Ceramic Tile: Yes
Carpet: Yes

Sale Includes

Land & Building: Yes
Personal Property: Yes
Pool Equipment: Yes
Laundry 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: 13766
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0

Pmt & Rate Info

Cap Rate: 9.3
Down Payment: 0
Equity: 1650000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Community Features

Pool: Yes
Manager Res/Office: Yes

Heating

Heat Pump: Yes
Electric: Yes
Individual: Yes

Cooling

Electric: Yes
Heat Pump: Yes
Individual: Yes

Exterior Amenities

Landscape Water System: Yes
Green Landscaping: Yes
Fenced: Yes
Patio/Balcony: Yes
Guard Gate: Yes

Interior Features

Unfurnished: Yes

Tenant Pays

Electricity: Yes
Cable TV: Yes

Appliances Included

Refrigerator: Yes
Free-Standing Range: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Other (See Remarks): Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

>1 Space Per Unit: Yes

Electric

Individual Meter: Yes

Gas

None: Yes

Owner Pays

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

New Financing

Other (See Remarks): Yes

Existing 1st Loan

Other (See Rmks): 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

Other (See Remarks): Yes

Existing 3rd Loan Terms

Not Applicable: Yes

Environmental

Other (See Remarks): 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: 51 - 99 Units Construction: Block Const - Finish: Stucco Roofing: Built-Up Floors: Vinyl; Ceramic Tile; Carpet Sale Includes: Land & Building; Personal Property; Pool Equipment; Laundry Equipment Community Features: Pool; Manager Res/Office Exterior Amenities: Landscape Water System; Green Landscaping; Fenced; Patio/Balcony; Guard Gate Interior Features: Unfurnished Appliances Included: Free-Standing Range; Refrigerator Heating: Individual; Heat Pump Cooling: Electric; Heat Pump; Individual Water Source: City Franchise Sewer: Sewer - Public Electric: Individual Meter Gas: None Parking Features: >1 Space Per Unit Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping; Pool Maintenance Tenant Pays: Electricity; Cable TV Source of Fincl Data: Other (See Remarks) Existing 1st Loan: Other (See Rmks) 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: Other (See Remarks) Environmental: Other (See Remarks)

Documents

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Package ›

Listing Office: Newmark Multifamily

Last Updated: October - 14 - 2024