4241 N 26TH Street, Phoenix, AZ 85016

$1,930,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $1,930,000 Last Modified: 1/15/2021

Overview

Description

Taylor Street is pleased to announce the opportunity to acquire The V on 26th Apartment Community. The V on 26th was fully remodeled with new kitchens, granite counter tops, stainless steel appliance package, and in suite washer dryers throughout. Located in the heart of sought after Biltmore, Phoenix with proximity to the Biltmore shopping & finance district as well as Downtown and Midtown Phoenix. There is future upside potential in rent increases due to it's attractive location and scope of remodel. The V on 26th Apartments provides a remarkable opportunity for immediate value along with considerable future upside potential.

Listing Details MLS# 6041860

Location, Tax & Legal

Map Code/Grid
P35
House Number
4241
Compass
N
Street Name
26TH
St Suffix
Street
City/Town Code
Phoenix
State/Province
AZ
Zip Code
85016
Zip4
4006
Country
US
County Code
Maricopa
Subdivision
CITRUS HEIGHTS LOTS 10-33
Assessor Number
163-05-040-B
Tax Year
2019
Assessor's Map #
5
Legal Description (Abbrev)
LOT 8 CITRUS HEIGHTS LOTS 10-33 MCR 001632
Assessor's Parcel #
40
Assessor Parcel Ltr
B
Add'l Parcels
No
Tax Municipality
Phoenix
Census Tract
108400
Taxes
5578
Legal
LOT 8 CITRUS HEIGHTS LOTS 10-33 MCR 001632
Marketing Name
The V

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
33,104
Year Built
1962
Uncvrd Parking Spcs
11
Total # of Units
11
# of Buildings
4
Zoning
R-3
Elementary School District
Madison Elementary District
High School District
Phoenix Union High School District
Elementary School
Madison Elementary School
Jr. High School
Madison Park School
High School
Camelback High School

Remarks Misc

Cross Street
INDIAN SCHOOL & 26TH
Directions
FROM INDIAN SCHOOL NORTH ON 26TH ST TO PROPERTY

Status Change Info

Off Market Date
2020-09-25
Under Contract Date
2020-07-07
Close of Escrow Date
2020-09-25

Legal Info

Township
2N
Range
3E
Section
23
Lot Number
8

More Information

Income Expenses

Gross Annual Sch Inc
159000
Net Operating Income
123209

1 Bedroom Units

# 1 Bedroom Units
7
Avg Rent
1150
Avg SqFt
580
# Baths
Yes

2 Bedroom Units

# 2 Bedroom Units
4
Avg Rent
1300
Avg SqFt
677
# Baths
Yes

Sold Info

Loan Type
Conventional
Loan Years
30
Payment Type
Fixed
Closing Cost Split
Buyer - B
Buyer Concession to Seller
2.5
Buyer Concession $/%
%
Seller Concession $/%
$
Seller Concession to Buyer
0

Project Type

5 - 12 Units
Yes

Construction

Block
Yes

Const - Finish

Painted
Yes

Roofing

Composition
Yes

Floors

Concrete
Yes

Sale Includes

Land & Building
Yes
Laundry Equipment
Yes

Income & Expenses

Annual Elec Exp
6020
Annual Gas Exp
0
Annual Ins Exp
2200
Annual Land Lse Exp
0
Annual Landscape Exp
0
Annual Legal & Acctg
1375
Annual Maint Exp
4400
Annual Mgmt Exp
7718
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
1650
Operating Exp
28941
Other Income
3300
Vacancy Allowance
0.05
Adjusted Gross Inc
154185
Total Monthly Rental Income
159000

Pmt & Rate Info

Cap Rate
5.87
Down Payment
0
Equity
2099000
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

No Pool
Yes

Heating

Electric
Yes

Cooling

Electric
Yes

Exterior Amenities

Green Landscaping
Yes
Partially Fenced
Yes
Patio/Balcony
Yes
Separate Storage
Yes
Security Light(s)
Yes

Interior Features

Unfurnished
Yes

Tenant Pays

Gas
Yes
Water
Yes
Sewer
Yes
Electricity
Yes
Trash Collection
Yes
Cable TV
Yes

Appliances Included

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

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Owner
Yes

Water Source

City Franchise
Yes

Sewer

Sewer - Public
Yes

Parking Features

<1 Space Per Unit
Yes
1 Space/Unit
Yes
Paved
Yes

Electric

APS
Yes

Gas

None
Yes

Owner Pays

Water
Yes
Sewer
Yes
Trash Collection
Yes
Landscaping
Yes

New Financing

Conventional
Yes
1031 Exchange
Yes

Existing 1st Loan

Conventional
Yes

Existing 1st Loan Type

Fixed
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

3 Bedrooms Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

Property Features

Project Type: 5 - 12 Units Construction: Block Const - Finish: Painted Roofing: Composition Floors: Concrete Sale Includes: Land & Building; Laundry Equipment Community Features: No Pool Exterior Amenities: Green Landscaping; Partially Fenced; Patio/Balcony; Separate Storage; Security Light(s) Interior Features: Unfurnished Appliances Included: Built-In Range; Refrigerator; Dishwasher; Microwave; Washer/Dryer Cooling: Electric Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: None Parking Features: <1 Space Per Unit; 1 Space/Unit; Paved Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Water; Sewer; Electricity; Gas; Trash Collection; Cable TV Source of Fincl Data: Owner Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None Existing 1st Loan: Conventional Existing 1st Loan Type: Fixed 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; 1031 Exchange Environmental: None
IDX
Listing Office: Taylor Street Realty Services
Last Updated: January - 15 - 2021
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