6633 N 58TH Drive, Glendale, AZ 85301 (MLS# 5897390)

6633 N 58TH Drive, Glendale, AZ 85301

$685,000

6633 N 58th Drive 10 unit-small-018-15-A

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6633 N 58th Drive 10 unit-small-012-10-B

6633 N 58th Drive 10 unit-small-017-14-S

6633 N 58th Drive 10 unit-small-022-13-A

Property Type: Multiple Dwellings Status: Closed

Current Price: $685,000 Last Modified: 1/26/2025

Overview

Description

10.2% projected proforma from this solid C class ten-plex that was just refreshed with new paint in and out, stucco, new doors, light fixtures, some plumbing fixtures, ceiling replaced and roof repairs made, two new gas water heaters, a new a/c unit and rerun electrical throughout! 9 new tenants with 80%+ guaranteed rents, one leases that will finish out this year and can be increased at that point (Oct). This property has individually metered electric, although the landlord pays all utilities (except 1 existing lease). Security cameras convey with the property. DRIVE BY ONLY-DO NOT DISTURB TENANTS No sign and No interior showing until we have an accepted purchase contract. Buyer to measure and verify any facts or figures upon acceptance

Listing Details MLS# 5897390

Location, Tax & Legal

Map Code/Grid: N32
House Number: 6633
Compass: N
Street Name: 58TH
St Suffix: Drive
City/Town Code: Glendale
State/Province: AZ
Zip Code: 85301
Zip4: 3905
Country: US
County Code: Maricopa
Subdivision: GLENDALE BLKS 42-46
Assessor Number: 146-03-047
Tax Year: 2018
Assessor's Map #: 3
Legal Description (Abbrev): LOT 21 BLOCK 43 GLENDALE BLKS 42-46 MCR 001010
Assessor's Parcel #: 47
Add'l Parcels: Yes
Tax Municipality: Glendale
Census Tract: 92900
Taxes: 3724
Legal: LOT 21 BLOCK 43 GLENDALE BLKS 42-46 MCR 001010
Marketing Name: GLENDALE BLKS

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 100 x 140
Year Built: 1945
Uncvrd Parking Spcs: 14
Total # of Units: 10
# of Buildings: 2
Zoning: M1
Elementary School District: Glendale Elementary District
High School District: Glendale Union High School District
Elementary School: Glendale American School
Jr. High School: Glendale Landmark Middle School
High School: Glendale High School

Remarks Misc

Cross Street: 59th Ave. & Glendale Ave.

Status Change Info

Off Market Date: 2019-06-08
Under Contract Date: 2019-05-21
Close of Escrow Date: 2019-06-07

Legal Info

Township: 2N
Range: 2E
Section: 8
Block: 43
Lot Number: 21

More Information

Income Expenses

Gross Annual Sch Inc: 107332
Net Operating Income: 71631

Efficiency Units

# Efficiency Units: Yes
Avg Rent: 727.28
Avg SqFt: 350
# Baths: Yes

1 Bedroom Units

# 1 Bedroom Units: 7
Avg Rent: 862.25
Avg SqFt: 500
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 2
Avg Rent: 1089.92
Avg SqFt: 700
# Baths: Yes

Sold Info

Loan Type: Cash
Payment Type: Other
Closing Cost Split: Seller Paid - S
Buyer Concession $/%: $
Seller Concession $/%: $
Buyer Concession to Seller: 0
Seller Concession to Buyer: 0

Project Type

5 - 12 Units: Yes

Construction

Block: Yes
Wood Frame: Yes

Const - Finish

Painted: Yes
Stucco: Yes

Roofing

Composition: Yes

Floors

Ceramic Tile: Yes

Sale Includes

Land & Building: Yes
Personal Property: Yes

Income & Expenses

Annual Elec Exp: 15600
Annual Gas Exp: 0
Annual Ins Exp: 1500
Annual Land Lse Exp: 0
Annual Landscape Exp: 300
Annual Legal & Acctg: 0
Annual Maint Exp: 1000
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: 1000
Annual Other Expense: 0
Operating Exp: 23124
Other Income: 0
Vacancy Allowance: 0.04
Adjusted Gross Inc: 103038.72
Total Monthly Rental Income: 8943

Pmt & Rate Info

Cap Rate: 10.23
Down Payment: 0
Equity: 700000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Community Features

No Pool: Yes

Heating

Electric: Yes
Natural Gas: Yes
Individual: Yes

Cooling

Ceiling Fan(s): Yes
Central Air: Yes
Electric: Yes
Individual: Yes

Exterior Amenities

Desert Landscaping: Yes
Fenced: Yes
Cable TV Available: Yes
Patio/Balcony: Yes
Security Light(s): Yes

Interior Features

Unfurnished: Yes
Fire/Smoke Alarm(s): Yes
Mini Blinds: Yes

Tenant Pays

Cable TV: Yes

Appliances Included

Refrigerator: Yes
Free-Standing Range: Yes

Road Access Type

Private Road: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes
Projected Proforma: Yes
Books Shwn Accpt Ofr: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

Free: Yes
On Street: Yes
>1 Space Per Unit: Yes
Paved: Yes

Electric

APS: Yes

Gas

SW Gas: Yes

Owner Pays

Water: Yes
Sewer: Yes
Electric: Yes
Gas: Yes
Trash Collection: Yes
Landscaping: Yes

New Financing

Conventional: Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Existing 1st Loan Type

Not Applicable: 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

Other (See Remarks): 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

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 5 - 12 Units Construction: Block; Wood Frame Const - Finish: Painted; Stucco Roofing: Composition Floors: Ceramic Tile Sale Includes: Land & Building; Personal Property Community Features: No Pool Exterior Amenities: Desert Landscaping; Fenced; Cable TV Available; Patio/Balcony; Security Light(s) Interior Features: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds Appliances Included: Free-Standing Range; Refrigerator Heating: Natural Gas; Individual Cooling: Ceiling Fan(s); Electric; Individual; Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: On Street; >1 Space Per Unit; Free; Paved Road Access Type: Private Road Road Surface Type: Asphalt Owner Pays: Water; Electric; Gas; Trash Collection; Landscaping Tenant Pays: Cable TV Source of Fincl Data: Owner; Projected Proforma; Books Shwn Accpt Ofr Existing 1st Loan: Treat as Free&Clear Existing 1st Loan Type: Not Applicable 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: Other (See Remarks) Existing 3rd Loan Type: Not Applicable Existing 3rd Loan Terms: Not Applicable Existing Othr Ln Trm: Not Applicable New Financing: Conventional Environmental: None

Listing Office: Tru Realty

Last Updated: January - 26 - 2025