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
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 of the west valley. It is also approximately 15 minutes away from Arrowhead Town Center, P83, and the Peoria Sports Complex. It is halfway between Loop 101 to the west and I-17 to the east, making this an ideal location for someone who might work in any part of the valley. It is extremely central as it pertains to entertainment, shopping, and restaurant options, and allows residents to enjoy, with ease, so much of what metropolitan Phoenix has to offer. With many dining, shopping, and entertainment options, freeway access within minutes, the Laurie Lane Apartments is an attractive investment opportunity and extremely desirable property for residents to live.
More Information MLS# 6646533
Contract Info
Ownership: Fee Simple
Current Price: $2,300,000
Sold Price: $2,300,000
Status: Closed
List Date: 2024-01-05
Location, Tax & Legal
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
House Number: 6043
Compass: W
Street Name: Laurie
St Suffix: Lane
City/Town Code: Glendale
State/Province: AZ
Zip Code: 85302
County Code: Maricopa
Assessor Number: 143-14-016-A
Tax Year: 2023
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 0
Lot Size Dimensions: 135x147
Total # of Units: 8
Elementary School District: Glendale Elementary District
High School District: Glendale Union High School District
Year Built: 1958
Zoning: R-4
Project Type
Four Plex: 1
5 - 12 Units: 1
Construction
Block: 1
Other: 1
Const - Finish
Painted: 1
Other (See Remarks): 1
Roofing
Composition: 1
Other: 1
Floors
Other: 1
Sale Includes
Land & Building: 1
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
Showing Notification Methods
Showing Service: Aligned Showings
Lockbox Type
See Private Remarks: 1
Community Features
See Remarks: 1
Heating
Other: 1
Cooling
Ceiling Fan(s): 1
Central Air: 1
Individual: 1
See Remarks: 1
Exterior Amenities
Landscape Water System: 1
Green Landscaping: 1
Desert Landscaping: 1
Fenced: 1
Partially Fenced: 1
Sidewalk(s): 1
Other (See Remarks): 1
Interior Features
Other (See Remarks): 1
Tenant Pays
Electricity: 1
Other (See Remarks): 1
Appliances Included
Dishwasher: 1
Refrigerator: 1
Built-In Range: 1
Washer/Dryer: 1
W/D Hookup: 1
Other: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Projected Proforma: 1
Water Source
City Franchise: 1
See Remarks: 1
Sewer
Sewer - Public: 1
Other: 1
Parking Features
Other: 1
Electric
Other (See Remarks): 1
Gas
Other (See Remarks): 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
Other: 1
New Financing
Other (See Remarks): 1
Reports/Disclosures
Other (See Remarks): 1
Environmental
None: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 6
Avg Rent: 1500
Avg SqFt: 675
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 1675
Avg SqFt: 765
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Other
Loan Years: 30
Closing Cost Split: Normal - N
Payment Type: Other
Buyer Concession to Seller: 0
Buyer Concession $/%: %
Seller Concession to Buyer: 0
Seller Concession $/%: %
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.
Geo Lat: 33.558157
Geo Lon: -112.190131
Status Change Info
Off Market Date: 2024-01-12
Under Contract Date: 2024-01-11
Close of Escrow Date: 2024-02-29
Sold Price: $2,300,000
Legal Info
Lot Number: 16 & 17
Income Expenses
Gross Annual Sch Inc: 150600
Net Operating Income: 122192
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
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