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4128 N 10TH Street, Phoenix, AZ 85014
Overview
Description
Supplements: ... (Read more) represents one of the most significant and ongoing developments in the Phoenix MSA. It is a short distance from The Sky Harbor Airport and within a one-mile radius there are several schools, parks, The Phoenix Country Club and the VA Medical Center. The Pride of Ownership is easy to detect, in this property which consists of (six) one-bedroom units of 707-square-feet, (two) two-bedroom units of 800-square-feet, a two bedroom casita of 800-square- feet, and a stand-alone two-bedroom house of 1,400-square-feet. The community was built in 1966 of block construction with pitched asphalt shingle roofs. Since 2012, all of the units have been Renovated and now have Fully Equipped Kitchens, New Tile Flooring, New Fixtures, Plumbing, Wiring and Patio Style Doors that lead to a Lush Central Courtyard, which sets the property apart, as it contains mature and lush landscaping allowing tenants to feel like they live in a country oasis. The tenants actually pick grapefruits and oranges, from the mature fruit trees. Not only is the community always fully occupied with rising rents but there's actually a waiting list. The property has Two Washers and Two Dryers (additional income), Individual Storage Spaces (for a fee) and covered parking for each unit. For added privacy, there is a perimeter block wall enclosing the community. The property is individually metered for power and master metered for water. The property owner is responsible for the cost of water, sewer, trash. The residents are responsible for the cost of electricity and gas in their units, including the cost of heating and air conditioning. Central Park Villas offers an investor the opportunity to acquire a very well maintained and efficiently managed community, due to its consistent occupancy, stable income and improving demographics in the surrounding area. This property will be a great addition to an investor's portfolio or would serve as an ideal, pride of ownership, opportunity for a new investor entering the market.
Listing Details MLS# 5704886
Location, Tax & Legal
- Map Code/Grid
- P34
- House Number
- 4128
- Compass
- N
- Street Name
- 10TH
- St Suffix
- Street
- City/Town Code
- Phoenix
- State/Province
- AZ
- Zip Code
- 85014
- Zip4
- 4732
- Country
- US
- County Code
- Maricopa
- Subdivision
- CHESTERFIELD PLACE
- Assessor Number
- 155-17-063
- Tax Year
- 2017
- Assessor's Map #
- 17
- Legal Description (Abbrev)
- LOT 13 BLOCK 2 CHESTERFIELD PLACE MCR 000607
- Assessor's Parcel #
- 63
- Add'l Parcels
- No
- Tax Municipality
- Phoenix
- Census Tract
- 108601
- Taxes
- 3432
- Legal
- LOT 13 BLOCK 2 CHESTERFIELD PLACE MCR 000607
- Marketing Name
- Central Park Villas
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- 303x96
- Year Built
- 1966
- Uncvrd Parking Spcs
- 5
- Total # of Units
- 10
- # of Buildings
- 4
- Zoning
- MultiFamily
- Elementary School District
- Osborn Elementary District
- High School District
- Phoenix Union High School District
- Elementary School
- Longview Elementary School
- Jr. High School
- Osborn Middle School
- High School
- North High School
Remarks Misc
- Cross Street
- Indian School Road and 10th Street
- Directions
- North on 10th Street from Indian School Road, property is on the left / west side of the road
Status Change Info
- Off Market Date
- 2018-03-17
- Under Contract Date
- 2018-02-08
- Close of Escrow Date
- 2018-03-30
Legal Info
- Township
- 2N
- Range
- 3E
- Section
- 21
- Block
- 2
- Lot Number
- 13
More Information
Income Expenses
- Gross Annual Sch Inc
- 98796
- Net Operating Income
- 78296
1 Bedroom Units
- # 1 Bedroom Units
- 6
- Avg Rent
- 718
- Avg SqFt
- 707
- # Baths
- Yes
2 Bedroom Units
- # 2 Bedroom Units
- 4
- Avg Rent
- 939
- Avg SqFt
- 950
- # Baths
- Yes
Sold Info
- Loan Type
- Conventional
- Loan Years
- 30
- 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
Other Type
- House + Rental Units
- Yes
Construction
- Block
- Yes
Const - Finish
- Painted
- Yes
Roofing
- Composition
- Yes
Floors
- Wood
- Yes
- Ceramic Tile
- Yes
Sale Includes
- Land & Building
- Yes
Income & Expenses
- Annual Elec Exp
- 1000
- Annual Gas Exp
- 0
- Annual Ins Exp
- 2100
- Annual Land Lse Exp
- 0
- Annual Landscape Exp
- 2100
- Annual Legal & Acctg
- 0
- Annual Maint Exp
- 3500
- Annual Mgmt Exp
- 0
- Annual Trash Exp
- 0
- Annual Wtr/Swr Exp
- 7000
- Owner Association
- No
- Annual Ownr Asoc Fee
- 0
- Annual PAD Fee
- 0
- Annual Rplcmnt Rsrvs
- 0
- Annual Other Expense
- 0
- Operating Exp
- 19132
- Other Income
- 1520
- Vacancy Allowance
- 0.03
- Adjusted Gross Inc
- 97306.52
- Total Monthly Rental Income
- 8233
Pmt & Rate Info
- Cap Rate
- 5.13
- Down Payment
- 0
- Equity
- 1525000
- Down Payment %
- 0
- Monthly Payments
- 0
- Total Owed
- 0
- Assessment Balance
- 0
Community Features
- No Pool
- Yes
Heating
- Heat Pump
- Yes
- Electric
- Yes
Cooling
- Heat Pump
- Yes
Exterior Amenities
- Landscape Water System
- Yes
- Green Landscaping
- Yes
- Fenced
- Yes
- Cable TV Available
- Yes
- Separate Storage
- Yes
- Security Light(s)
- Yes
Tenant Pays
- Gas
- Yes
- Electricity
- Yes
- Cable TV
- Yes
Appliances Included
- Dishwasher
- Yes
- Microwave
- 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
- Garage
- Yes
- On Street
- Yes
- Paved
- Yes
- Assigned
- Yes
Electric
- APS
- Yes
Gas
- SW Gas
- Yes
Owner Pays
- Water
- Yes
- Sewer
- Yes
- Trash Collection
- Yes
- Landscaping
- Yes
New Financing
- Conventional
- Yes
- No Carry
- Yes
- 1031 Exchange
- Yes
Existing 1st Loan
- Conventional
- 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
- Seller Prop Disc Stm
- Yes
Existing 3rd Loan Terms
- Not Applicable
- Yes
Environmental
- None
- 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