7211 N 54TH Avenue, Glendale, AZ 85301
$610,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$610,000
Last Modified:
11/30/2024
Description
10 large 2BD/2BA units all with interior laundry and fireplaces. Upstairs units have vaulted ceilings with skylights. Property sits on 0.37 acres located near Historic Downtown Glendale. Recent improvements include new carpet, some new appliances, new 2-tone paint, new blinds and new ceiling fans. Located near the US-60, property is in a well-established sub-market, close to shopping and schools. This property currently 90% leased, average net rent/unit is $711.27 making Total Monthly Rental Income of $7,112 or $85,352/Year. Deduct 8% vacancy to $78,524. Then after projected expenses of $28,050 the NOI is $50,466 per year. This is a 8.1% CAP at asking. Seller is replacing shingle roof, will be done before COE. Landlord pays t/w/s, tenant pays elec, no gas.
More Information MLS# 5346165
Contract Info
Ownership: Fee Simple
Current Price: $610,000
Sold Price: $610,000
Status: Closed
List Date: 2015-10-08
Location, Tax & Legal
Assessor's Map #: 18
Legal Description (Abbrev): COOK & WHITE ADD AMD
Assessor's Parcel #: 118
Add'l Parcels: No
Tax Municipality: Glendale
Census Tract: 92500
Taxes: 3512
Legal: COOK & WHITE ADD AMD
Marketing Name: Myrtle Manor
Map Code/Grid: N32
House Number: 7211
Compass: N
Street Name: 54TH
St Suffix: Avenue
City/Town Code: Glendale
State/Province: AZ
Zip Code: 85301
Zip4: 1972
County Code: Maricopa
Subdivision: COOK & WHITE ADD AMD
Assessor Number: 147-18-118
Tax Year: 2015
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 8
Lot Size Dimensions: 115X40
Total # of Units: 10
Elementary School District: Glendale Elementary District
High School District: Glendale Union High School District
Elementary School: Glendale Landmark Middle School
Jr. High School: Glendale Landmark Middle School
High School: Glendale High School
Year Built: 1985
Zoning: R-3
Legal Info
Range: 2E
Section: 5
Township: 2N
Block: 5
Lot Number: 10
Project Type
5 - 12 Units: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Composition: 1
Tile: 1
Floors
Vinyl: 1
Carpet: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 360
Annual Gas Exp: 0
Annual Ins Exp: 1572
Annual Land Lse Exp: 0
Annual Landscape Exp: 1600
Annual Legal & Acctg: 300
Annual Maint Exp: 4800
Annual Mgmt Exp: 3926
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 6480
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 1800
Operating Exp: 24350
Other Income: 0
Vacancy Allowance: 6828
Adjusted Gross Inc: 582698104
Pmt & Rate Info
Cap Rate: 8.07
Down Payment: 0
Equity: 625000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Community Features
No Pool: 1
Heating
Electric: 1
Cooling
Central Air: 1
Individual: 1
Exterior Amenities
Fenced: 1
Other (See Remarks): 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Vertical Blinds: 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Refrigerator: 1
Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Projected Proforma: 1
Water Source
City Franchise: 1
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
1 Space/Unit: 1
Other: 1
Electric
APS: 1
Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Conventional: 1
No Carry: 1
1031 Exchange: 1
Special
Owner/Agent: 1
Existing 1st Loan
Conventional: 1
Existing 1st Loan Type
Fixed: 1
Existing 1st Loan Terms
Assume - Qualify: 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
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 10
Avg Rent: 711
Avg SqFt: 990
# Baths: 2
3 Bedrooms Units
Avg Rent: 0
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 Avenue & Glendale Road
Directions: North on 59th Ave to Myrtle Avenue. Turn right (east) on Myrtle. Property on NEC of 54th Avenue & Myrtle. No sign on property.
Geo Lat: 33.542428
Geo Lon: -112.17468
Status Change Info
Off Market Date: 2015-10-18
Under Contract Date: 2015-11-02
Close of Escrow Date: 2015-12-16
Sold Price: $610,000
Income Expenses
Gross Annual Sch Inc: 85352
Net Operating Income: 50466
Property Features
Project Type: 5 - 12 Units
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Composition; Tile
Floors: Vinyl; Carpet
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Fenced; Other (See Remarks)
Interior Features: Unfurnished; Fire/Smoke Alarm(s); Vertical Blinds
Appliances Included: Refrigerator; Dishwasher; Disposal; Washer/Dryer
Cooling: Individual; Central Air
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public
Electric: APS; Individual Meter
Gas: None
Parking Features: Carport; 1 Space/Unit; Other
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Owner; Projected Proforma
Special: Owner/Agent
Existing 1st Loan: Conventional
Existing 1st Loan Type: Fixed
Existing 1st Loan Terms: Assume - Qualify
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: Conventional; No Carry; 1031 Exchange
Environmental: None
Listing Office:
The Robinson Group
Last Updated: November - 30 - 2024
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