706 E PALM Lane, Phoenix, AZ 85006
$1,675,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$1,675,000
Last Modified:
8/06/2021
Listing Details MLS# 5779286
Location, Tax & Legal
- Map Code/Grid
- P34
- House Number
- 706
- Compass
- E
- Street Name
- PALM
- St Suffix
- Lane
- City/Town Code
- Phoenix
- State/Province
- AZ
- Zip Code
- 85006
- Country
- US
- County Code
- Maricopa
- Subdivision
- LOS OLIVOS HEIGHTS
- Assessor Number
- 117-31-120-A
- Tax Year
- 2070
- Assessor's Map #
- 31
- Legal Description (Abbrev)
- LOT 19 BLOCK 5 LOS OLIVOS HEIGHTS MCR 000531
- Assessor's Parcel #
- 120
- Assessor Parcel Ltr
- A
- Add'l Parcels
- No
- Tax Municipality
- Phoenix
- Census Tract
- 111700
- Taxes
- 2017
- Legal
- See Remarks
- Marketing Name
- Palm Lane Apartments
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- 111 x 150
- Year Built
- 1963
- Total # of Units
- 12
- # of Buildings
- 4
- Zoning
- R-4
- Elementary School District
- Phoenix Elementary District
- High School District
- Phoenix Union High School District
- Uncvrd Parking Spcs
- 0
Remarks Misc
- Cross Street
- 7th Street & McDowell
- Directions
- North on 7th Street, East on Palm Lane, to property on the North side of Palm.
Status Change Info
- Off Market Date
- 2018-08-27
- Under Contract Date
- 2018-08-17
- Close of Escrow Date
- 2018-11-15
Legal Info
- Township
- 2N
- Range
- 3E
- Section
- 33
- Block
- 5
- Lot Number
- 19
More Information
Income Expenses
- Gross Annual Sch Inc
- 125151
- Net Operating Income
- 84499
Efficiency Units
- # Efficiency Units
- 6
- Avg Rent
- 638
- Avg SqFt
- 350
- # Baths
- Yes
1 Bedroom Units
- # 1 Bedroom Units
- 4
- Avg Rent
- 839
- Avg SqFt
- 492
- # Baths
- Yes
2 Bedroom Units
- # 2 Bedroom Units
- 2
- Avg Rent
- 1023
- Avg SqFt
- 890
- # Baths
- Yes
Sold Info
- Loan Type
- Conventional
- 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
Other Type
- Other (See Remarks)
- Yes
Construction
- Other
- Yes
Const - Finish
- Other (See Remarks)
- Yes
Roofing
- Other
- Yes
Floors
- Other
- Yes
Sale Includes
- Other (See Remarks)
- Yes
Income & Expenses
- Annual Elec Exp
- 0
- Annual Gas Exp
- 0
- Annual Ins Exp
- 0
- Annual Land Lse Exp
- 0
- Annual Landscape Exp
- 0
- Annual Legal & Acctg
- 0
- Annual Maint Exp
- 0
- 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
- 0
- Annual Other Expense
- 38885
- Operating Exp
- 40902
- Other Income
- 303
- Vacancy Allowance
- 0
- Adjusted Gross Inc
- 125454
Pmt & Rate Info
- Cap Rate
- 5.42
- Down Payment
- 0
- Equity
- 1560000
- Down Payment %
- 0
- Monthly Payments
- 0
- Total Owed
- 0
- Assessment Balance
- 0
Community Features
- Other
- Yes
- See Remarks
- Yes
Heating
- Other
- Yes
- See Remarks
- Yes
Cooling
- Other
- Yes
- See Remarks
- Yes
Exterior Amenities
- Other (See Remarks)
- Yes
Interior Features
- Other (See Remarks)
- Yes
Tenant Pays
- Electricity
- Yes
- Other (See Remarks)
- Yes
Appliances Included
- Other
- Yes
Road Access Type
- Alley
- Yes
Road Surface Type
- Asphalt
- Yes
Source of Fincl Data
- Owner
- Yes
- Other (See Remarks)
- Yes
Water Source
- City Franchise
- Yes
- Master Meter
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- Other
- Yes
Electric
- Other (See Remarks)
- Yes
Gas
- Other (See Remarks)
- Yes
Owner Pays
- Water
- Yes
- Other
- Yes
- See Remarks
- Yes
New Financing
- Conventional
- Yes
- Owner May Carry
- Yes
- 1031 Exchange
- Yes
- Other (See Remarks)
- Yes
Existing 1st Loan
- Other (See Rmks)
- 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
- Treat as Free&Clear
- 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
Other Type:
Other (See Remarks)
Construction:
Other
Const - Finish:
Other (See Remarks)
Roofing:
Other
Floors:
Other
Sale Includes:
Other (See Remarks)
Community Features:
Other; See Remarks
Exterior Amenities:
Other (See Remarks)
Interior Features:
Other (See Remarks)
Appliances Included:
Other
Heating:
Other; See Remarks
Cooling:
Other; See Remarks
Water Source:
City Franchise; Master Meter
Sewer:
Sewer - Public
Electric:
Other (See Remarks)
Gas:
Other (See Remarks)
Parking Features:
Other
Road Access Type:
Alley
Road Surface Type:
Asphalt
Owner Pays:
Water; Other; See Remarks
Tenant Pays:
Electricity; Other (See Remarks)
Source of Fincl Data:
Owner; Other (See Remarks)
Existing 1st Loan:
Other (See Rmks)
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:
Treat as Free&Clear
Existing 3rd Loan Type:
Not Applicable
Existing 3rd Loan Terms:
Not Applicable
Existing Othr Ln Trm:
Not Applicable
New Financing:
Conventional; Owner May Carry; 1031 Exchange; Other (See Remarks)
Environmental:
None
Listing Office:
ABI Multifamily
Last Updated: August - 06 - 2021
Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.