6043 W Laurie Lane, Glendale, AZ 85302 (MLS# 6646533)

6043 W Laurie Lane, Glendale, AZ 85302

$2,300,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $2,300,000 Last Modified: 3/02/2024

Overview

Description

TOTALLY UPDATED - Built in 1958, Laurie Lane Apartments is a mid-century, block constructed apartment community. The property is comprised of two separate four-plexes on two parcels, allowing for conventional, thirty year fixed rate financing on each parcel. The unit mix consists of 6 one-bedroom and 2 two-bedroom units with a weighted average of 698 square feet. All units are individually metered for electricity and have an enclosed, private outdoor space, along with a large, grassy amenity space out front. The units have been completely gutted and updated throughout. Every unit has new electrical, plumbing, fixtures, cabinets and countertops, flooring, windows and doors, and more. No surface has been left untouched. Each unit also includes its own interior washer and dryer..

Supplements: These turn-key units will allow for easy maintenance and management for a new owner. Laurie Lane Apartments is an 8-unit apartment complex located in the heart of Glendale, AZ. The property is located about five and half miles (little over 10 minutes) to Westgate, home of the Arizona Cardinals and one of the most vibrant commercial centers in all o ... (Read more)

Listing Details MLS# 6646533

Location, Tax & Legal

House Number: 6043
Compass: W
Street Name: Laurie
St Suffix: Lane
City/Town Code: Glendale
State/Province: AZ
Zip Code: 85302
Country: US
County Code: Maricopa
Assessor Number: 143-14-016-A
Tax Year: 2023
Assessor's Map #: 14
Assessor's Parcel #: 16
Assessor Parcel Ltr: A
Add'l Parcels: Yes
Tax Municipality: Glendale
Taxes: 2739
Legal: LOTS 16 & 17 GLENDALE ESTATES MCR 006624
Marketing Name: Laurie Lane Apartments

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 135x147
Year Built: 1958
Total # of Units: 8
# of Buildings: 2
Zoning: R-4
Elementary School District: Glendale Elementary District
High School District: Glendale Union High School District
Uncvrd Parking Spcs: 0

Remarks Misc

Cross Street: W. Northern Ave & N. 61st Ave
Directions: North on 61st Avenue to property on SE corner of Laurie Lane and 61st Avenue.

Status Change Info

Off Market Date: 2024-01-12
Under Contract Date: 2024-01-11
Close of Escrow Date: 2024-02-29

Legal Info

Lot Number: 16 & 17

More Information

Income Expenses

Gross Annual Sch Inc: 150600
Net Operating Income: 122192

Showing Notification Methods

Showing Service: Aligned Showings

1 Bedroom Units

# 1 Bedroom Units: 6
Avg Rent: 1500
Avg SqFt: 675
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 2
Avg Rent: 1675
Avg SqFt: 765
# Baths: Yes

Sold Info

Loan Type: Other
Loan Years: 30
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: %
Seller Concession $/%: %
Buyer Concession to Seller: 0
Seller Concession to Buyer: 0

Project Type

Four Plex: Yes
5 - 12 Units: Yes

Construction

Block: Yes
Other: Yes

Const - Finish

Painted: Yes
Other (See Remarks): Yes

Roofing

Composition: Yes
Other: Yes

Floors

Other: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 2739
Other Income: 5534
Vacancy Allowance: 0.05
Adjusted Gross Inc: 148327.3

Pmt & Rate Info

Cap Rate: 5.09
Equity: 2400000
Down Payment %: 100
Monthly Payments: 0
Total Owed: 0

Lockbox Type

See Private Remarks: Yes

Community Features

See Remarks: Yes

Heating

Other: Yes

Cooling

Ceiling Fan(s): Yes
Central Air: Yes
Individual: Yes
See Remarks: Yes

Exterior Amenities

Landscape Water System: Yes
Green Landscaping: Yes
Desert Landscaping: Yes
Fenced: Yes
Partially Fenced: Yes
Sidewalk(s): Yes
Other (See Remarks): Yes

Interior Features

Other (See Remarks): Yes

Tenant Pays

Electricity: Yes
Other (See Remarks): Yes

Appliances Included

Dishwasher: Yes
Refrigerator: Yes
Built-In Range: Yes
Washer/Dryer: Yes
W/D Hookup: Yes
Other: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Projected Proforma: Yes

Water Source

City Franchise: Yes
See Remarks: Yes

Sewer

Sewer - Public: Yes
Other: Yes

Parking Features

Other: Yes

Electric

Other (See Remarks): Yes

Gas

Other (See Remarks): Yes

Owner Pays

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

New Financing

Other (See Remarks): Yes

Reports/Disclosures

Other (See Remarks): Yes

Environmental

None: Yes

Efficiency Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: Four Plex; 5 - 12 Units Construction: Block; Other Const - Finish: Painted; Other (See Remarks) Roofing: Composition; Other Floors: Other Sale Includes: Land & Building Community Features: See Remarks Exterior Amenities: Landscape Water System; Green Landscaping; Desert Landscaping; Fenced; Partially Fenced; Sidewalk(s); Other (See Remarks) Interior Features: Other (See Remarks) Appliances Included: Built-In Range; Refrigerator; Dishwasher; Washer/Dryer; W/D Hookup; Other Heating: Other Cooling: Ceiling Fan(s); Individual; Central Air; See Remarks Water Source: City Franchise; See Remarks Sewer: Sewer - Public; Other Electric: Other (See Remarks) Gas: Other (See Remarks) Parking Features: Other Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping; Other Tenant Pays: Electricity; Other (See Remarks) Source of Fincl Data: Projected Proforma Lockbox Type: See Private Remarks New Financing: Other (See Remarks) Environmental: None

Listing Office: ABI Multifamily

Last Updated: March - 02 - 2024