5624 N 6th Street, Phoenix, AZ 85012 (MLS# 5817178)

5624 N 6th Street, Phoenix, AZ 85012

$2,400,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $2,400,000 Last Modified: 1/24/2019

Overview

Description

Camel Square offers a multitude of opportunities to the savvy investor. The location offers true walkability to Phoenix's hottest restaurant scene, 7th Street Restaurant Row. Surrounded by million dollar homes, the location and community targets those who seek the finer things and are willing to pay for it. The North Central Corridor of Phoenix is the second priciest area in Phoenix. Camel Square's six residential buildings with approx. 15,162 sq. ft. under roof are spread out over 1.297 acres with mature landscaping and flood irrigation. Several storage buildings and two laundry areas offer many amenities to tenants. Many long terms tenants with lots of upside potential in the rent roll. Drive by only. Do not disturb tenants. Showings by appointment only to qualified buyers.

Listing Details MLS# 5817178

Location, Tax & Legal

Map Code/Grid: N34
House Number: 5624
Compass: N
Street Name: 6th
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85012
Country: US
County Code: Maricopa
Assessor Number: 162-35-021
Tax Year: 2017
Assessor's Map #: 35
Assessor's Parcel #: 21
Add'l Parcels: Yes
Tax Municipality: Phoenix
Taxes: 17500
Legal: APN 162-35-021, 162-35-020, 162-35-019, 162-35-018, 162-35-017
Marketing Name: Camel Square

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: Irr
Year Built: 1948
Uncvrd Parking Spcs: 6
Total # of Units: 18
# of Buildings: 6
Zoning: Multi
Elementary School District: Madison Elementary District
High School District: Phoenix Union High School District

Remarks Misc

Cross Street: 7th St. & Bethany Home
Directions: South to Montebello. West to 6th St. South to property.

Status Change Info

Off Market Date: 2019-01-05
Under Contract Date: 2018-10-01
Close of Escrow Date: 2019-01-23

Legal Info

Lot Number: 22

More Information

Income Expenses

Gross Annual Sch Inc: 192000
Net Operating Income: 155784

1 Bedroom Units

# 1 Bedroom Units: 11
Avg Rent: 0

2 Bedroom Units

# 2 Bedroom Units: 5
Avg Rent: 0

3 Bedrooms Units

# 3 Bedroom Units: 2
Avg Rent: 0

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

13 - 24 Units: Yes

Construction

Block: Yes
Slump Block: Yes

Const - Finish

Painted: Yes
Stucco: Yes

Roofing

Composition: Yes
Tile: Yes

Floors

Ceramic Tile: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Annual Elec Exp: 964
Annual Gas Exp: 879
Annual Ins Exp: 6000
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 0
Annual Mgmt Exp: 0
Annual Trash Exp: 5873
Annual Wtr/Swr Exp: 6000
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 37216
Other Income: 1000
Vacancy Allowance: 0
Adjusted Gross Inc: 193000

Pmt & Rate Info

Cap Rate: 6.23
Down Payment: 0
Equity: 2499990
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Community Features

No Pool: Yes

Heating

Heat Pump: Yes
Natural Gas: Yes

Cooling

Central Air: Yes

Exterior Amenities

Green Landscaping: Yes

Tenant Pays

Gas: Yes
Electricity: Yes
Cable TV: Yes

Appliances Included

Refrigerator: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes
Irrigation: Yes

Sewer

Sewer - Public: Yes

Parking Features

Carport: Yes
On Street: Yes

Electric

APS: Yes
Individual Meter: Yes

Gas

SW Gas: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes
Landscaping: Yes

New Financing

Conventional: Yes

Existing 1st Loan

Conventional: Yes

Existing 1st Loan Type

Not Applicable: 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

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 13 - 24 Units Construction: Block; Slump Block Const - Finish: Painted; Stucco Roofing: Composition; Tile Floors: Ceramic Tile Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Green Landscaping Appliances Included: Refrigerator Heating: Natural Gas; Heat Pump Cooling: Central Air Water Source: City Franchise; Irrigation Sewer: Sewer - Public Electric: APS; Individual Meter Gas: SW Gas Parking Features: Carport; On Street Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity; Gas; Cable TV Source of Fincl Data: Owner Existing 1st Loan: Conventional Existing 1st Loan Type: Not Applicable 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 Environmental: None

Documents

Income/Expense ›

Listing Office: The Arizona Real Estate Company.com

Last Updated: January - 24 - 2019