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5820 W Claremont Street, Glendale, AZ 85301
Overview
Description
Supplements: ... (Read more) The community has a unit mix consisting of one and two-bedroom floor plans that are spacious and well designed and average approximately 785 square feet. Interior unit features include fully appointed kitchens with electric appliances and dishwashers, ceramic tile flooring, walk-in closets, vertical blinds, security doors and private front and back patios in select units. Claremont is situated on approximately 1.75 acres and features low water use desert landscaping and mature shade trees. Community amenities include exterior lighting and an on-site laundry facility. Claremont offers an investor the opportunity to acquire an attractive apartment community located in a desirable Glendale submarket with in-place cash flow and additional value-add potential. Over the last year, the Glendale submarket average occupancy increased by 252 basis points, more than two times that of the metropolitan Phoenix average. With the improving submarket fundamentals coupled with the Phoenix market's continual improvement and recovery, Claremont is well positioned to achieve continual increases in revenue.
Listing Details MLS# 5260079
Location, Tax & Legal
- Map Code/Grid
- N32
- House Number
- 5820
- Compass
- W
- Street Name
- Claremont
- St Suffix
- Street
- City/Town Code
- Glendale
- State/Province
- AZ
- Zip Code
- 85301
- Zip4
- 4437
- Country
- US
- County Code
- Maricopa
- Subdivision
- WOODFORD ADD BLK 5, LOTS 5&8
- Assessor Number
- 146-09-028-B
- Tax Year
- 2014
- Assessor's Map #
- 9
- Legal Description (Abbrev)
- WOODFORD ADDITION TO GLENDALE MCR 2/54 N2 N2 LOT 8 BLK 3 E 459.8F TH/OF EX P/D 9462/457
- Assessor's Parcel #
- 28
- Assessor Parcel Ltr
- B
- Add'l Parcels
- No
- Tax Municipality
- Maricopa - COUNTY
- Census Tract
- 92900
- Taxes
- 10528.68
- Legal
- WOODFORD ADDITION TO GLENDALE MCR 2/54 N2 N2 LOT 8 BLK 3 E 459.8F TH/OF EX P/D 9462/457
- Marketing Name
- Claremont
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- 76046
- Year Built
- 1975
- Uncvrd Parking Spcs
- 40
- Total # of Units
- 36
- # of Buildings
- 6
- Zoning
- R-4
- Elementary School District
- Glendale Elementary District
- High School District
- Glendale Union High School District
Status Change Info
- Off Market Date
- 2016-11-02
- Under Contract Date
- 2016-08-04
- Close of Escrow Date
- 2016-11-01
Legal Info
- Township
- 2N
- Range
- 2E
- Section
- 8
- Block
- 3
- Lot Number
- 8
More Information
Income Expenses
- Gross Annual Sch Inc
- 302554
- Net Operating Income
- 148004
1 Bedroom Units
- # 1 Bedroom Units
- 24
- Avg Rent
- 625
- Avg SqFt
- 722
- # Baths
- Yes
2 Bedroom Units
- # 2 Bedroom Units
- 12
- Avg Rent
- 750
- Avg SqFt
- 912
- # Baths
- 2
Contact Info
- List Agent Home Phn
- 602-735-5634
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
- 25 - 50 Units
- Yes
Construction
- Block
- Yes
- Wood Frame
- Yes
Const - Finish
- Painted
- Yes
Roofing
- Built-Up
- Yes
Floors
- Ceramic Tile
- Yes
Sale Includes
- Land & Building
- 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
- No
- Annual Ownr Asoc Fee
- 0
- Annual PAD Fee
- 0
- Annual Rplcmnt Rsrvs
- 0
- Annual Other Expense
- 116100
- Operating Exp
- 126628.68
- Other Income
- 0
- Vacancy Allowance
- 0.08
- Adjusted Gross Inc
- 278349.68
Pmt & Rate Info
- Cap Rate
- 6.96
- Down Payment
- 0
- Equity
- 2125000
- Down Payment %
- 0
- Monthly Payments
- 0
- Total Owed
- 0
- Assessment Balance
- 0
Community Features
- No Pool
- Yes
Heating
- Electric
- Yes
Cooling
- Individual
- Yes
Exterior Amenities
- Green Landscaping
- Yes
- Patio/Balcony
- Yes
- Security Light(s)
- Yes
Interior Features
- Vertical Blinds
- Yes
Tenant Pays
- Electricity
- Yes
Appliances Included
- Dishwasher
- Yes
- Microwave
- Yes
- Free-Standing Range
- 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
- Paved
- Yes
Electric
- APS
- Yes
Gas
- SW Gas
- Yes
Owner Pays
- Water
- Yes
- Sewer
- Yes
New Financing
- Conventional
- Yes
Existing 1st Loan
- Conventional
- Yes
Existing 1st Loan Type
- Fixed
- 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