3615 E GLENROSA Avenue, Phoenix, AZ 85018 (MLS# 6408667)

3615 E GLENROSA Avenue, Phoenix, AZ 85018

$1,250,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $1,250,000 Last Modified: 7/30/2022

Overview

Description

This 4 unit apartment community was built in 1959 and consists of (3) 1-bedroom / 1-bathroom units and (1) 2-bedroom / 1-bathroom unit. The exterior is in great condition and has clean, easy to maintain desert landscape which provides attention-grabbing curb appeal. Each unit boasts an individual private patio and a personal covered parking spot in the carport located at the back of the complex. The community also has an easily accessible laundry room for the 2-bedroom/1-bathroom unit that could be transformed into a community laundry facility. is in close proximity to various boutique eateries such as La Grande Orange, and Ingo's Tasty Food. It is virtually equal distance to Camelback Mountain's hiking trails, the historic Biltmore Golf Club, Old Town Scottsdale, & Phoenix Sky Harbor.

Listing Details MLS# 6408667

Location, Tax & Legal

Map Code/Grid: P35
House Number: 3615
Compass: E
Street Name: GLENROSA
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85018
Zip4: 4065
Country: US
County Code: Maricopa
Subdivision: CAMELBACK HORIZONS
Assessor Number: 170-31-026
Tax Year: 2021
Assessor's Map #: 31
Legal Description (Abbrev): LOT 5 CAMELBACK HORIZONS MCR 007832
Assessor's Parcel #: 26
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 108302
Taxes: 3127
Legal: LOT 5 CAMELBACK HORIZONS MCR 007832
Marketing Name: 3615 East Glenrosa Avenue

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 11,100
Year Built: 1959
Total # of Units: 4
# of Buildings: Yes
Zoning: R-3
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District
Uncvrd Parking Spcs: 0

Status Change Info

Off Market Date: 2022-07-30
Under Contract Date: 2022-07-06
Close of Escrow Date: 2022-07-29

Legal Info

Township: 2N
Range: 3E
Section: 24
Lot Number: 5

More Information

Income Expenses

Gross Annual Sch Inc: 49452
Net Operating Income: 31133

1 Bedroom Units

# 1 Bedroom Units: 3
Avg Rent: 896
Avg SqFt: 606
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: Yes
Avg Rent: 1432
Avg SqFt: 900
# 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

Four Plex: Yes

Construction

Block: Yes

Const - Finish

Painted: Yes

Roofing

Composition: Yes

Floors

Ceramic Tile: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 3127
Other Income: 400
Vacancy Allowance: 0.05
Adjusted Gross Inc: 47359.4

Pmt & Rate Info

Cap Rate: 2.15
Equity: 1450000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Showing Notification Methods

Text: Yes

Lockbox Type

None: Yes

Community Features

No Pool: Yes

Heating

Electric: Yes

Cooling

Electric: Yes

Exterior Amenities

Desert Landscaping: Yes

Tenant Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes

Appliances Included

Refrigerator: Yes
Free-Standing Range: Yes

Road Surface Type

Asphalt: Yes
Concrete: Yes

Source of Fincl Data

Owner: Yes
Projected Proforma: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

1 Space/Unit: Yes

Electric

Other (See Remarks): Yes

Gas

SW Gas: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes

New Financing

VA: Yes
Conventional: Yes
FHA: Yes
Owner May Carry: Yes

Reports/Disclosures

None: Yes

Environmental

None: Yes

Efficiency Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: Four Plex Construction: Block Const - Finish: Painted Roofing: Composition Floors: Ceramic Tile Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Desert Landscaping Appliances Included: Free-Standing Range; Refrigerator Cooling: Electric Water Source: City Franchise Sewer: Sewer - Public Electric: Other (See Remarks) Gas: SW Gas Parking Features: 1 Space/Unit Road Surface Type: Asphalt; Concrete Owner Pays: Water; Trash Collection Tenant Pays: Water; Sewer; Trash Collection Source of Fincl Data: Owner; Projected Proforma Showing Notification Methods: Text Lockbox Type: None New Financing: VA; FHA; Conventional; Owner May Carry Environmental: None

Listing Office: ABI Multifamily

Last Updated: July - 30 - 2022