5401 E VAN BUREN Street 1045, Phoenix, AZ 85008

$1,500,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $1,500,000 Last Modified: 1/26/2018

Overview

Description

The offering is a bulk sale of ten (10) individual condominium units and three (3) individual, detached garages. These units are used as rentals and currently 100% occupied.

Listing Details MLS# 5685714

Location, Tax & Legal

Map Code/Grid
Q36
House Number
5401
Compass
E
Street Name
VAN BUREN
St Suffix
Street
City/Town Code
Phoenix
State/Province
AZ
Zip Code
85008
Zip4
3458
Country
US
County Code
Maricopa
Subdivision
RED ROX CONDOMINIUM
Assessor Number
124-18-077
Tax Year
2017
Unit #
1045
Assessor's Map #
18
Legal Description (Abbrev)
LOT 1045 RED ROX CONDOMINIUM MCR 080221
Assessor's Parcel #
77
Add'l Parcels
Yes
Tax Municipality
Phoenix
Census Tract
113801
Taxes
9677
Legal
LOT 1045 RED ROX CONDOMINIUM MCR 080221
Marketing Name
Red Rox Condominium

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
17.15
Year Built
1999
Total # of Units
10
# of Buildings
15
Zoning
R-3A
Elementary School District
Balsz Elementary District
High School District
Phoenix Union High School District
Uncvrd Parking Spcs
0

Remarks Misc

Cross Street
55th Street & Van Buren

Status Change Info

Off Market Date
2018-01-17
Under Contract Date
2018-01-16
Close of Escrow Date
2018-01-25

Legal Info

Township
1N
Range
4E
Section
8
Lot Number
1045

More Information

Income Expenses

Net Operating Income
70941

1 Bedroom Units

# 1 Bedroom Units
4
Avg Rent
909
Avg SqFt
911
# Baths
Yes

2 Bedroom Units

# 2 Bedroom Units
6
Avg Rent
1000
Avg SqFt
1042
# Baths
2

Contact Info

List Agent Home Phn
480-887-0640

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

5 - 12 Units
Yes

Construction

Wood Frame
Yes

Const - Finish

Painted
Yes
Stucco
Yes

Roofing

Tile
Yes

Floors

Vinyl
Yes
Ceramic Tile
Yes

Sale Includes

Personal Property
Yes
Laundry Equipment
Yes

Income & Expenses

Annual Elec Exp
0
Annual Gas Exp
0
Annual Ins Exp
0
Annual Land Lse Exp
0
Annual Landscape Exp
0
Annual Legal & Acctg
0
Annual Maint Exp
0
Annual Mgmt Exp
0
Annual Trash Exp
0
Annual Wtr/Swr Exp
0
Owner Association
Yes
Annual Ownr Asoc Fee
22473
Annual PAD Fee
0
Annual Rplcmnt Rsrvs
0
Annual Other Expense
0
Operating Exp
32150
Other Income
0
Vacancy Allowance
0
Adjusted Gross Inc
0

Pmt & Rate Info

Cap Rate
4.43
Down Payment
0
Equity
1600000
Down Payment %
0
Monthly Payments
0
Total Owed
0
Assessment Balance
0

Community Features

Pool
Yes
Spa(s)
Yes
Manager Res/Office
Yes
Clubhouse
Yes
Exercise Room
Yes
Game/Rec Room
Yes
Golf
Yes
Sport Court
Yes
Barbecue
Yes

Heating

Electric
Yes

Cooling

Individual
Yes

Exterior Amenities

Landscape Water System
Yes
Green Landscaping
Yes
Fenced
Yes
Patio/Balcony
Yes
Separate Storage
Yes

Tenant Pays

Electricity
Yes

Appliances Included

Dishwasher
Yes
Microwave
Yes
Refrigerator
Yes
Free-Standing 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

Garage
Yes
1 Space/Unit
Yes
Add'l Parking Avail
Yes

Electric

SRP
Yes

Gas

None
Yes

Owner Pays

Other
Yes
See Remarks
Yes

New Financing

Conventional
Yes
1031 Exchange
Yes

Existing 1st Loan

Treat as Free&Clear
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

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: Wood Frame Const - Finish: Painted; Stucco Roofing: Tile Floors: Vinyl; Ceramic Tile Sale Includes: Personal Property; Laundry Equipment Community Features: Pool; Spa(s); Manager Res/Office; Clubhouse; Exercise Room; Game/Rec Room; Golf; Sport Court; Barbecue Exterior Amenities: Landscape Water System; Green Landscaping; Fenced; Patio/Balcony; Separate Storage Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Microwave; Washer/Dryer Cooling: Individual Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: None Parking Features: Garage; 1 Space/Unit; Add'l Parking Avail Road Surface Type: Asphalt Owner Pays: Other; See Remarks Tenant Pays: Electricity Source of Fincl Data: Owner Existing 1st Loan: Treat as Free&Clear Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: 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; 1031 Exchange Environmental: None
IDX
Listing Office: Orion Investment Real Estate
Last Updated: January - 26 - 2018
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