3838 E Earll Drive, Phoenix, AZ 85018

$1,520,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $1,520,000 Last Modified: 2/05/2025

Overview

Description

Arcadia 4 is a four-unit apartment community located in the strong East Phoenix rental submarket. The community was completed October of 2019 using frame wood construction with a stucco exterior. The property will convey fully leased. The property consists of four townhome style two-bedroom / two and one half-bathroom unit types. The modern interiors are appointed with high end finishes. The kitchens feature white shaker cabinets, quartz countertops, a stainless-steel sink and stainless appliances. Each unit also enjoys a private balcony and an interior washer and dryer.

Listing Details MLS# 5974931

Location, Tax & Legal

Map Code/Grid
P35
House Number
3838
Compass
E
Street Name
Earll
St Suffix
Drive
City/Town Code
Phoenix
State/Province
AZ
Zip Code
85018
Country
US
County Code
Maricopa
Assessor Number
127-20-018-A
Tax Year
2018
Assessor's Map #
20
Assessor's Parcel #
18
Assessor Parcel Ltr
A
Add'l Parcels
No
Tax Municipality
Phoenix
Taxes
267
Legal
provided at title
Marketing Name
Arcadia 4

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
unknown
Year Built
2019
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

Remarks Misc

Cross Street
40th Street & Indian School Rd
Directions
South to Earll Drive and west to property.

Status Change Info

Off Market Date
2019-10-10
Under Contract Date
2019-10-10
Close of Escrow Date
2019-11-14

Legal Info

Lot Number
109 & 110

More Information

Income Expenses

Gross Annual Sch Inc
114960
Net Operating Income
98145

2 Bedroom Units

# 2 Bedroom Units
4
Avg Rent
2300
Avg SqFt
1650
# Baths
25

Sold Info

Loan Type
Other
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

Wood Frame
Yes

Const - Finish

Painted
Yes
Stucco
Yes

Roofing

Other
Yes

Floors

Other
Yes

Sale Includes

Other (See Remarks)
Yes

Income & Expenses

Annual Elec Exp
200
Annual Gas Exp
0
Annual Ins Exp
1600
Annual Land Lse Exp
0
Annual Landscape Exp
1200
Annual Legal & Acctg
0
Annual Maint Exp
0
Annual Mgmt Exp
6000
Annual Trash Exp
1200
Annual Wtr/Swr Exp
2200
Owner Association
No
Annual Ownr Asoc Fee
0
Annual PAD Fee
0
Annual Rplcmnt Rsrvs
0
Annual Other Expense
1300
Operating Exp
13967
Other Income
2900
Vacancy Allowance
0.05
Adjusted Gross Inc
111967

Pmt & Rate Info

Cap Rate
6.21
Down Payment
0
Equity
1580000
Down Payment %
0
Monthly Payments
0
Total Owed
0
Assessment Balance
0

Showing Notification Methods

Text
Yes
Email
Yes
Phone Call
Yes

Lockbox Type

None
Yes

Community Features

Other
Yes
See Remarks
Yes

Heating

Electric
Yes
Individual
Yes
Central
Yes

Cooling

Ceiling Fan(s)
Yes
Central Air
Yes
Electric
Yes
Individual
Yes

Exterior Amenities

Curb(s) & Gutter(s)
Yes

Tenant Pays

Electricity
Yes

Appliances Included

Dishwasher
Yes
Disposal
Yes
Microwave
Yes
Refrigerator
Yes
Built-In Range
Yes
Washer/Dryer
Yes

Source of Fincl Data

Projected Proforma
Yes

Water Source

City Franchise
Yes
Master Meter
Yes

Sewer

Sewer - Public
Yes

Parking Features

Garage
Yes
Carport
Yes
>1 Space Per Unit
Yes

Electric

SRP
Yes
Individual Meter
Yes

Gas

None
Yes

Owner Pays

Water
Yes
Sewer
Yes
Trash Collection
Yes
Landscaping
Yes

New Financing

Conventional
Yes
No Carry
Yes

Existing 1st Loan

Conventional
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

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

1 Bedroom Units

Avg Rent
0

3 Bedrooms Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

Property Features

Project Type: Four Plex Construction: Wood Frame Const - Finish: Painted; Stucco Roofing: Other Floors: Other Sale Includes: Other (See Remarks) Community Features: Other; See Remarks Exterior Amenities: Curb(s) & Gutter(s) Appliances Included: Built-In Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer Heating: Individual; Central Cooling: Ceiling Fan(s); Electric; Individual; Central Air Water Source: City Franchise; Master Meter Sewer: Sewer - Public Electric: SRP; Individual Meter Gas: None Parking Features: Garage; Carport; >1 Space Per Unit Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity Source of Fincl Data: Projected Proforma Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None Existing 1st Loan: Conventional 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: Conventional; No Carry Environmental: Other (See Remarks)
IDX
Listing Office: ABI Multifamily
Last Updated: February - 05 - 2025
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