5505 W PALMAIRE Avenue, Glendale, AZ 85301
$1,575,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$1,575,000
Last Modified:
5/09/2025
Description
Excellent opportunity to purchase 2 4-plexes. Property being sold with additional 4 plex at 7126 N 55th Ave. (1,799,000 million each) Newly built 4 plexes on corner lot with great income potential.
More Information MLS# 6389513
Contract Info
Ownership: Fee Simple
Current Price: $1,575,000
Sold Price: $1,575,000
Status: Closed
List Date: 2022-04-26
Location, Tax & Legal
Assessor's Map #: 25
Assessor's Parcel #: 39
Add'l Parcels: Yes
Tax Municipality: Glendale
Census Tract: 92500
Taxes: 754
Legal: PCL LOC IN SEC 5 T2N R2E DAF LTS 1 & 2 BLK 10 PARK ADDITION TO GLENDALE MCR 3-42 EX 75.91F TH/OF AKA LT 1
Marketing Name: PALMAIRE
Map Code/Grid: N32
House Number: 5505
Compass: W
Street Name: PALMAIRE
St Suffix: Avenue
City/Town Code: Glendale
State/Province: AZ
Zip Code: 85301
County Code: Maricopa
Subdivision: PARK ADDN BLKS 26-28, 7-15
Assessor Number: 147-25-039
Tax Year: 2021
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 8
Lot Size Dimensions: 8685
Flood Zone: No
Total # of Units: 4
Elementary School District: Glendale Elementary District
High School District: Glendale Union High School District
Elementary School: Glendale Landmark Middle School
Jr. High School: Glendale Landmark Middle School
High School: Glendale High School
Year Built: 2022
Zoning: R3
Project Type
Four Plex: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Carpet: 1
Sale Includes
Land & Building: 1
Income & Expenses
Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 754
Other Income: 0
Vacancy Allowance: 0.04
Adjusted Gross Inc: 106675.2
Pmt & Rate Info
Cap Rate: 5.6
Equity: 1799000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Phone Call: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Cooling
Electric: 1
Exterior Amenities
Patio/Balcony: 1
Interior Features
Unfurnished: 1
Vertical Blinds: 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Microwave: 1
Refrigerator: 1
Free-Standing Range: 1
Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Projected Proforma: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Garage: 1
1 Space/Unit: 1
Electric
APS: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Conventional: 1
1031 Exchange: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
# 3 Bedroom Units: 4
Avg Rent: 2500
Avg SqFt: 1771
# Baths: 3
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Loan Years: 30
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: 55th Ave & West Palmaire
Geo Lat: 33.540835
Geo Lon: -112.177783
Status Change Info
Off Market Date: 2022-12-22
Under Contract Date: 2022-12-01
Close of Escrow Date: 2022-12-20
Sold Price: $1,575,000
Legal Info
Lot Number: 1
Income Expenses
Gross Annual Sch Inc: 111120
Net Operating Income: 100808.06
Property Features
Project Type: Four Plex
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Composition
Floors: Vinyl; Carpet
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Patio/Balcony
Interior Features: Unfurnished; Vertical Blinds
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Microwave; Washer/Dryer
Cooling: Electric
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: None
Parking Features: Garage; 1 Space/Unit
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Projected Proforma
Showing Notification Methods: Phone Call
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 2nd Loan: Treat as Free&Clear
Existing 3rd Loan: Treat as Free&Clear
New Financing: Conventional; 1031 Exchange
Environmental: None
Listing Office:
ARRT of Real Estate
Last Updated: May - 09 - 2025
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