3634 E MONTE VISTA Road, Phoenix, AZ 85008 (MLS# 5635999)

3634 E MONTE VISTA Road, Phoenix, AZ 85008

$1,200,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $1,200,000 Last Modified: 12/27/2024

Overview

Description

DO NOT DISTURB TENANTS- VIEWINGS BY APPOINTMENT ONLY: Rents average $675- so easy rent bumps of $100 - $125 across the board. 100% large 2-bedroom units in a superior East Phoenix location directly across the street from the newly constructed Papago Elementary School. This block constructed building with individual metering for electricity and copper plumbing has all the right components for substantial rent-growth through successful re-positioning. Many units have tiled floors and some updating. Property amenities include covered parking, on-site laundry, front and rear unit entries and a sparkling code-compliant pool. Rents have not been raised at the property for years

Listing Details MLS# 5635999

Location, Tax & Legal

Map Code/Grid: P35
House Number: 3634
Compass: E
Street Name: MONTE VISTA
St Suffix: Road
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85008
Zip4: 3035
Country: US
County Code: Maricopa
Subdivision: DALE MANORS
Assessor Number: 120-14-036-A
Tax Year: 2016
Assessor's Map #: 14
Legal Description (Abbrev): TRACT A DALE MANORS MCR 007509
Assessor's Parcel #: 36
Assessor Parcel Ltr: A
Add'l Parcels: Yes
Tax Municipality: Phoenix
Census Tract: 111402
Taxes: 7999
Legal: TRACT A DALE MANORS MCR 007509
Marketing Name: Plaza de Torre

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: irreg
Year Built: 1963
Uncvrd Parking Spcs: 12
Total # of Units: 20
# of Buildings: 11
Zoning: M-M, R-3
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District

Remarks Misc

Cross Street: 36th Street
Directions: Thomas Road to 35th Street, south to Monte Vista Road, East to property (on north side of street)

Status Change Info

Off Market Date: 2017-11-30
Under Contract Date: 2017-10-06
Close of Escrow Date: 2017-12-15

Legal Info

Township: 2N
Range: 3E
Section: 36
Lot Number: A

More Information

Income Expenses

Gross Annual Sch Inc: 162000
Net Operating Income: 97469

2 Bedroom Units

# 2 Bedroom Units: 20
Avg Rent: 675
Avg SqFt: 816
# 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

13 - 24 Units: Yes

Construction

Block: Yes
Brick: Yes

Const - Finish

Painted: Yes

Roofing

Composition: Yes

Floors

Concrete: Yes
Ceramic Tile: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Annual Elec Exp: 6412
Annual Gas Exp: 0
Annual Ins Exp: 4406
Annual Land Lse Exp: 0
Annual Landscape Exp: 3000
Annual Legal & Acctg: 1000
Annual Maint Exp: 13576
Annual Mgmt Exp: 4800
Annual Trash Exp: 4088
Annual Wtr/Swr Exp: 14750
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 7300
Operating Exp: 67331
Other Income: 2800
Vacancy Allowance: 0.04
Adjusted Gross Inc: 158208

Pmt & Rate Info

Cap Rate: 5
Down Payment: 1950000
Equity: 1950000
Down Payment %: 100
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Community Features

Pool: Yes
Barbecue: Yes

Heating

Heat Pump: Yes
Electric: Yes
Central: Yes

Cooling

Electric: Yes
Heat Pump: Yes

Exterior Amenities

Desert Landscaping: Yes
Cable TV Available: Yes
Security Light(s): Yes

Interior Features

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

Tenant Pays

Electricity: Yes
Cable TV: Yes

Appliances Included

Refrigerator: Yes
Free-Standing Range: Yes

Road Surface Type

Asphalt: Yes
Concrete: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Carport: Yes
>1 Space Per Unit: Yes

Electric

SRP: 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

Other (See Remarks): Yes

Existing 2nd Loan Type

Not Applicable: Yes

Existing 2nd Loan Terms

Not Applicable: Yes

Existing 3rd Loan

Other (See Remarks): 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: 13 - 24 Units Construction: Block; Brick Const - Finish: Painted Roofing: Composition Floors: Concrete; Ceramic Tile Sale Includes: Land & Building Community Features: Pool; Barbecue Exterior Amenities: Desert Landscaping; Cable TV Available; Security Light(s) Interior Features: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds Appliances Included: Free-Standing Range; Refrigerator Heating: Central; Heat Pump Cooling: Electric; Heat Pump Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: None Parking Features: Carport; >1 Space Per Unit Road Surface Type: Asphalt; Concrete Owner Pays: Water; Trash Collection; Landscaping; Pool Maintenance Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner Existing 1st Loan: Other (See Rmks) Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable Existing 2nd Loan: Other (See Remarks) Existing 2nd Loan Type: Not Applicable Existing 2nd Loan Terms: Not Applicable Existing 3rd Loan: Other (See Remarks) Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Other (See Remarks) Environmental: None

Listing Office: Kasten Long Commercial Group

Last Updated: December - 27 - 2024