5233 W MYRTLE Avenue, Glendale, AZ 85301
$1,450,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$1,450,000
Last Modified:
11/07/2017
Description
100% OCCUPIED AS OF 03/01/2017!! Myrtle Manor is an 18 unit apartment community located in the heart of Glendale. The complex is located on two parcels and includes three buildings with tile roofs, a central courtyard with swimming pool and a large paved parking area for tenants. All apartments are large (960 SqFt) with two bedrooms and two baths all-on-one level. The apartments feature fireplaces, ceiling fans, kitchen appliances including dishwashers,garbage disposals, separate storage space and also washer/dyers in each unit. All second floor units have vaulted ceilings and skylights. The owner has done major renovations and remodelled the individual units in the property to reduce long-term costs and improve curb appeal. 8% CAP RATE. New rentals are at $750+tax monthly.
More Information MLS# 5532963
Contract Info
Ownership: Fee Simple
Current Price: $1,450,000
Sold Price: $1,450,000
Status: Closed
List Date: 2016-12-05
Location, Tax & Legal
Assessor's Map #: 16
Legal Description (Abbrev): PARK PLACE BLKS 2,5,6
Assessor's Parcel #: 19
Add'l Parcels: Yes
Tax Municipality: Glendale
Census Tract: 92500
Taxes: 9408
Legal: APN # 147-16-017 & 147-16-019
Marketing Name: MYRTLE MANOR APARTMENTS
Map Code/Grid: N32
House Number: 5233
Compass: W
Street Name: MYRTLE
St Suffix: Avenue
City/Town Code: Glendale
State/Province: AZ
Zip Code: 85301
Zip4: 2038
County Code: Maricopa
Subdivision: MYRTLE MANOR APARTMENTS
Assessor Number: 147-16-019
Tax Year: 2016
General Property Description
# of Buildings: 3
Uncvrd Parking Spcs: 30
Lot Size Dimensions: 137 X 229
Total # of Units: 18
Elementary School District: Glendale Elementary District
High School District: Glendale Union High School District
Elementary School: Melvin E Sine School
Jr. High School: Glendale American School
High School: Apollo High School
Year Built: 1987
Zoning: Multi
Legal Info
Range: 2E
Section: 5
Township: 2N
Lot Number: 7
Project Type
13 - 24 Units: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Tile: 1
Floors
Concrete: 1
Vinyl: 1
Ceramic Tile: 1
Carpet: 1
Sale Includes
Land & Building: 1
Personal Property: 1
Pool Equipment: 1
Income & Expenses
Annual Elec Exp: 2400
Annual Gas Exp: 0
Annual Ins Exp: 2000
Annual Land Lse Exp: 0
Annual Landscape Exp: 1200
Annual Legal & Acctg: 1000
Annual Maint Exp: 3600
Annual Mgmt Exp: 6000
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 9600
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 1200
Operating Exp: 36408
Other Income: 3200
Vacancy Allowance: 0.05
Adjusted Gross Inc: 151810
Pmt & Rate Info
Cap Rate: 8.09
Down Payment: 0
Equity: 1500000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Community Features
Pool: 1
Barbecue: 1
Heating
Electric: 1
Individual: 1
Cooling
Ceiling Fan(s): 1
Electric: 1
Individual: 1
Exterior Amenities
Landscape Water System: 1
Fenced: 1
Curb(s) & Gutter(s): 1
Cable TV Available: 1
Sidewalk(s): 1
Patio/Balcony: 1
Separate Storage: 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Mini Blinds: 1
Tenant Pays
Electricity: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Refrigerator: 1
Free-Standing Range: 1
Washer/Dryer: 1
Other: 1
Road Access Type
Dedicated Street: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Sewer-In & Connected: 1
Parking Features
Free: 1
>1 Space Per Unit: 1
Paved: 1
Electric
APS: 1
Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Cable TV: 1
Landscaping: 1
Pool Maintenance: 1
New Financing
Conventional: 1
Special
Incorporated Area: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Non Assumable: 1
Not Applicable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Contact Info
List Agent Home Phn: 623-266-3146
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 18
Avg Rent: 750
Avg SqFt: 960
# Baths: 2
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Loan Years: 25
Closing Cost Split: Buyer - B
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: 51ST AVE/GLENDALE AVE
Directions: 51ST AVE/GLENDALE AVE Directions: North on 51st Ave from GLENDALE Ave. Turn Left (west) on Myrtle. Proceed to property on left (south) side of street.
Geo Lat: 33.541715
Geo Lon: -112.171931
Status Change Info
Off Market Date: 2017-07-08
Under Contract Date: 2017-07-01
Close of Escrow Date: 2017-08-01
Sold Price: $1,450,000
Income Expenses
Gross Annual Sch Inc: 156600
Net Operating Income: 121402
Property Features
Project Type: 13 - 24 Units
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Tile
Floors: Concrete; Vinyl; Ceramic Tile; Carpet
Sale Includes: Land & Building; Personal Property; Pool Equipment
Community Features: Pool; Barbecue
Exterior Amenities: Landscape Water System; Fenced; Curb(s) & Gutter(s); Cable TV Available; Sidewalk(s); Patio/Balcony; Separate Storage
Interior Features: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Washer/Dryer; Other
Heating: Individual
Cooling: Ceiling Fan(s); Electric; Individual
Water Source: City Franchise
Sewer: Sewer - Public; Sewer-In & Connected
Electric: APS; Individual Meter
Gas: None
Parking Features: >1 Space Per Unit; Free; Paved
Road Access Type: Dedicated Street
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Cable TV; Landscaping; Pool Maintenance
Tenant Pays: Electricity
Source of Fincl Data: Owner
Special: Incorporated Area
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Non Assumable; Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional
Environmental: None
Listing Office:
Rapido Realty, LLC
Last Updated: November - 07 - 2017
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