6801 N 17TH Avenue N, Phoenix, AZ 85015

$1,870,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $1,870,000 Last Modified: 10/15/2020

Overview

Description

Seven of the units at Agave have gone through extensive interior renovations (approximately$25,000 per unit in capital expense). Additionally, the landscaping, windows,sliders, security gating and lighting systems have all been updated in 2019. Agave is located 0.25 miles from a Fry's-anchored retail center and the Valley Metro Light Rail, 1.5 mile from Abrazo CentralCampus and Christown Spectrum Mall and centrally located between the I-17 Deer Valley Corridor, Camelback and Central Avenue Corridor. New ownership will have the opportunity to renovate the remaining four classic units and bring them up to market rents benefiting from a$250 renovation premium. Further, new ownership can incorporate a utility recapture of $35 per unit based on market comps.

Listing Details MLS# 6028452

Location, Tax & Legal

Map Code/Grid
N34
House Number
6801
Compass
N
Street Name
17TH
St Suffix
Avenue
St Dir Sfx
N
City/Town Code
Phoenix
State/Province
AZ
Zip Code
85015
Zip4
1354
Country
US
County Code
Maricopa
Subdivision
MARYLAND SANDS 1 LOTS 11-34
Assessor Number
156-44-014
Tax Year
2019
Assessor's Map #
44
Legal Description (Abbrev)
LOT 40 MARYLAND SANDS 1 LOTS 11-34 MCR 009311
Assessor's Parcel #
14
Add'l Parcels
No
Tax Municipality
Phoenix
Census Tract
106701
Taxes
4350
Legal
LOT 40 MARYLAND SANDS 1 LOTS 11-34 MCR 009311
Marketing Name
Agave

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
181 x 150
Year Built
1966
Uncvrd Parking Spcs
7
Total # of Units
11
# of Buildings
3
Zoning
R-4
Elementary School District
Washington Elementary District
High School District
Glendale Union High School District

Remarks Misc

Cross Street
Glendale Ave and 17th Ave
Directions
Glendale Ave to 17th Ave, South to property

Status Change Info

Off Market Date
2020-02-20
Under Contract Date
2020-02-20
Close of Escrow Date
2020-03-05

Legal Info

Township
2N
Range
3E
Section
7
Lot Number
40

More Information

Income Expenses

Gross Annual Sch Inc
155700
Net Operating Income
102323

2 Bedroom Units

# 2 Bedroom Units
11
Avg Rent
1179
Avg SqFt
945
# Baths
2

Sold Info

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

Project Type

5 - 12 Units
Yes

Construction

Block
Yes

Const - Finish

Painted
Yes

Roofing

Foam
Yes

Floors

Vinyl
Yes
Other
Yes

Sale Includes

Land & Building
Yes

Income & Expenses

Annual Elec Exp
0
Annual Gas Exp
0
Annual Ins Exp
3600
Annual Land Lse Exp
0
Annual Landscape Exp
1650
Annual Legal & Acctg
2640
Annual Maint Exp
5500
Annual Mgmt Exp
8696
Annual Trash Exp
0
Annual Wtr/Swr Exp
11946
Owner Association
No
Annual Ownr Asoc Fee
0
Annual PAD Fee
0
Annual Rplcmnt Rsrvs
2200
Annual Other Expense
0
Operating Exp
40582
Other Income
0
Vacancy Allowance
0.05
Adjusted Gross Inc
147915

Pmt & Rate Info

Cap Rate
5.17
Down Payment
0
Equity
1980000
Down Payment %
0
Monthly Payments
0
Total Owed
0
Assessment Balance
0

Showing Notification Methods

Text
Yes

Lockbox Type

None
Yes

Community Features

No Pool
Yes

Heating

Individual
Yes

Cooling

Ceiling Fan(s)
Yes
Central Air
Yes
Individual
Yes

Exterior Amenities

Desert Landscaping
Yes
Partially Fenced
Yes
Sidewalk(s)
Yes
Security Light(s)
Yes

Interior Features

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

Tenant Pays

Electricity
Yes

Appliances Included

Dishwasher
Yes
Disposal
Yes
Microwave
Yes
Refrigerator
Yes
Free-Standing Range
Yes
Washer/Dryer
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Owner
Yes
Projected Proforma
Yes

Water Source

Master Meter
Yes

Sewer

Sewer - Public
Yes

Parking Features

Carport
Yes
>1 Space Per Unit
Yes
Paved
Yes

Electric

SRP
Yes

Gas

SW Gas
Yes

Owner Pays

Water
Yes
Sewer
Yes
Trash Collection
Yes

New Financing

Other (See Remarks)
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

Other (See Remarks)
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

Efficiency Units

Avg Rent
0

1 Bedroom Units

Avg Rent
0

3 Bedrooms Units

Avg Rent
0

4 Bedrooms Units

Avg Rent
0

Property Features

Project Type: 5 - 12 Units Construction: Block Const - Finish: Painted Roofing: Foam Floors: Vinyl; Other Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Desert Landscaping; Partially Fenced; Sidewalk(s); Security Light(s) Interior Features: Unfurnished; Fire/Smoke Alarm(s); Vertical Blinds; Mini Blinds Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer Heating: Individual Cooling: Ceiling Fan(s); Individual; Central Air Water Source: Master Meter Sewer: Sewer - Public Electric: SRP Gas: SW Gas Parking Features: Carport; >1 Space Per Unit; Paved Road Surface Type: Asphalt Owner Pays: Water; Trash Collection Tenant Pays: Electricity Source of Fincl Data: Owner; Projected Proforma Showing Notification Methods: Text Lockbox Type: None 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
IDX
Listing Office: Platinum Living Realty
Last Updated: October - 15 - 2020
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