5820 W Claremont Street, Glendale, AZ 85301

$2,125,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $2,125,000 Last Modified: 11/02/2016

Overview

Description

Claremont is an attractive 36-unit apartment community located in a desirable Glendale neighborhood. Built in 1975, the property is made of block and stucco construction with pitched built-up roofs, and is individually metered for electricity.

Supplements: 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 ...

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

Project Type: 25 - 50 Units Construction: Block; Wood Frame Const - Finish: Painted Roofing: Built-Up Floors: Ceramic Tile Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Green Landscaping; Patio/Balcony; Security Light(s) Interior Features: Vertical Blinds Appliances Included: Free-Standing Range; Dishwasher; Microwave Cooling: Individual Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: >1 Space Per Unit; Paved Road Surface Type: Asphalt Owner Pays: Water Tenant Pays: Electricity Source of Fincl Data: Owner Existing 1st Loan: Conventional Existing 1st Loan Type: Fixed 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 Environmental: None
IDX
Listing Office: CBRE, Inc
Last Updated: November - 02 - 2016
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