6220 W OCOTILLO Road, Glendale, AZ 85301
$699,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$699,000
Last Modified:
8/23/2012
Description
Wonderful Investment Opportunity! Ocotillo Oasis features 32 apartment units and one single family home. 16:2/1s (775 sf each) and 16:1/1s (650 each). The single family home is a 3/2, 1100 sf. The
property is 6 buldings, 2 story and built in 1984. The property is in great condition! Newer Roof, Copper Plumbing & Electrical, A/C units are less than 3 yrs old.
More Information MLS# 4504038
Contract Info
Ownership: Fee Simple
Current Price: $699,000
Sold Price: $699,000
Status: Closed
List Date: 2010-12-03
Location, Tax & Legal
Assessor's Map #: 9
Legal Description (Abbrev): ORCHARD ADD BLK 11 LOT 1
Assessor's Parcel #: 34
Assessor Parcel Ltr: A
Add'l Parcels: Yes
Tax Municipality: Glendale
Census Tract: 92800
Taxes: 16447
Legal: ORCHARD ADDITION TO GLENDALE MCR 3-30 PT LOT 5 BL K 5 W 120F SE4
Marketing Name: Ocotillo Oasis
Map Code/Grid: N32
House Number: 6220
Compass: W
Street Name: OCOTILLO
St Suffix: Road
City/Town Code: Glendale
State/Province: AZ
Zip Code: 85301
Zip4: 3165
County Code: Maricopa
Assessor Number: 144-09-034-A
Tax Year: 2010
General Property Description
# of Buildings: 6
Uncvrd Parking Spcs: 15
Lot Size Dimensions: 69622
Total # of Units: 33
Elementary School District: Glendale Elementary District
High School District: Glendale Union High School District
Elementary School: Other
Jr. High School: Other
High School: Other
Year Built: 1984
Zoning: R3
Legal Info
Range: 2E
Section: 7
Township: 2N
Lot Number: 5
Project Type
25 - 50 Units: 1
Other (See Remarks): 1
Other Type
House + Rental Units: 1
Packaged Offering: 1
Construction
Other: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Carpet: 1
Sale Includes
Land & Building: 1
Pool Equipment: 1
Income & Expenses
Annual Elec Exp: 1602
Annual Gas Exp: 1125
Annual Ins Exp: 5600
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 20000
Annual Mgmt Exp: 17423
Annual Trash Exp: 7200
Annual Wtr/Swr Exp: 7200
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 76597
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 183369
Pmt & Rate Info
Cap Rate: 12.58
Down Payment: 0
Equity: 849000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Community Features
Pool: 1
Manager Res/Office: 1
Play Area: 1
Barbecue: 1
Heating
Electric: 1
Cooling
Ceiling Fan(s): 1
Electric: 1
Exterior Amenities
Desert Landscaping: 1
Fenced: 1
Security Light(s): 1
Interior Features
Unfurnished: 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Disposal: 1
Refrigerator: 1
Free-Standing Range: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Projected Proforma: 1
Unknown: 1
Other (See Remarks): 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Free: 1
>1 Space Per Unit: 1
Add'l Parking Avail: 1
Electric
APS: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
Pool Maintenance: 1
New Financing
Other (See Remarks): 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Other (See Remarks): 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Other (See Remarks): 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 16
Avg Rent: 432
Avg SqFt: 684
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 16
Avg Rent: 525
Avg SqFt: 756
# Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 798
Avg SqFt: 1178
# Baths: 2
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Cash
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: 59th AV/Glendale
Directions: West on Glendale to 62nd AV. South to Ocotillo. West to property. Do not disturb tenants. Drive by only.
Geo Lat: 33.535428
Geo Lon: -112.193789
Status Change Info
Off Market Date: 2011-01-17
Under Contract Date: 2011-01-14
Close of Escrow Date: 2011-01-31
Sold Price: $699,000
Income Expenses
Gross Annual Sch Inc: 193020
Net Operating Income: 106772
Property Features
Project Type: 25 - 50 Units; Other (See Remarks)
Other Type: House + Rental Units; Packaged Offering
Construction: Other
Const - Finish: Painted; Stucco
Roofing: Composition
Floors: Vinyl; Carpet
Sale Includes: Land & Building; Pool Equipment
Community Features: Pool; Manager Res/Office; Play Area; Barbecue
Exterior Amenities: Desert Landscaping; Fenced; Security Light(s)
Interior Features: Unfurnished
Appliances Included: Free-Standing Range; Refrigerator; Disposal
Cooling: Ceiling Fan(s); Electric
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: SW Gas
Parking Features: >1 Space Per Unit; Add'l Parking Avail; Free
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping; Pool Maintenance
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Owner; Projected Proforma; Unknown; Other (See Remarks)
Existing 1st Loan: Treat as Free&Clear
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: Other (See Remarks)
Environmental: None
Documents
Pro Forma-10% Vacancy ›
Listing Office:
Caliber Realty Group, LLC
Last Updated: August - 23 - 2012
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