7508 W ORANGEWOOD Avenue, Glendale, AZ 85303 (MLS# 6783577)

7508 W ORANGEWOOD Avenue, Glendale, AZ 85303

$635,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $635,000 Last Modified: 2/28/2025

Overview

Description

''NEW LIST PRICE''. ONLY Unit #5 is available to show! Calling ALL serious dream minded developers. An explosive opportunity on this corner Lot at 75th Ave & Orangewood. Potential zoning for redevelopment to apartments. Commercial bring your development opportunity here...And it is in The County Island - You can still annex into the City of Glendale, if you so desire. Priced to sell - AS IS CASH or HARD MONEY and seller wants a 30-day closing - So you better hurry and not miss out on this amazing opportunity - minutes to 91st Ave & Glendale stadium where the Arizona Cardinals play. The new coming soon approximately billion dollar + one-of-a-kind resort named VAI. Google that to see that explosive development along with all the west side growth to bring your dream project here.

Supplements: Confirm with Maricopa County for your Zoning

Listing Details MLS# 6783577

Location, Tax & Legal

House Number: 7508
Compass: W
Street Name: ORANGEWOOD
St Suffix: Avenue
City/Town Code: Glendale
State/Province: AZ
Zip Code: 85303
Zip4: 1528
Country: US
County Code: Maricopa
Assessor Number: 142-24-002-B
Tax Year: 2024
Assessor's Map #: 24
Legal Description (Abbrev): E2 S2 E2 SE4 SE4 NE4 SEC 2 EX S 40F RD & EX E 77.01F & TRI IN SE COR FOR RD P/F 97-0511273
Assessor's Parcel #: 2
Assessor Parcel Ltr: B
Add'l Parcels: No
Tax Municipality: Maricopa - COUNTY
Census Tract: 92711
Taxes: 1526
Legal: E2 S2 E2 SE4 SE4 NE4 SEC 2 EX S 40F RD & EX E 77.01F & TRI IN SE COR FOR RD P/F 97-0511273
Marketing Name: UNK

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 25,134 sq ft
Year Built: 1955
Uncvrd Parking Spcs: 6
Total # of Units: 6
# of Buildings: Yes
Zoning: R-6
Elementary School District: Glendale Elementary District
High School District: Glendale Union High School District

Remarks Misc

Cross Street: 75th Avenue & Northern
Directions: From Northern, head south on 75th Ave to Orangewood Ave. Property is on the corner.

Status Change Info

Off Market Date: 2025-01-31
Under Contract Date: 2024-12-26
Close of Escrow Date: 2025-01-31

Legal Info

Township: 2N
Range: 1E
Section: 2
Lot Number: n/a

More Information

Income Expenses

Gross Annual Sch Inc: 44400
Net Operating Income: 41990

Showing Notification Methods

Showing Service: Aligned Showings
Text: Yes

Efficiency Units

# Efficiency Units: 5
Avg Rent: 1033
Avg SqFt: 325
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: Yes
Avg Rent: 1600
Avg SqFt: 700
# Baths: Yes

Contact Info

List Agent Home Phn: 623-872-6437

Sold Info

Loan Type: Cash
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

Composition: Yes

Floors

Concrete: Yes

Sale Includes

Land & Building: Yes
Laundry Equipment: Yes

Income & Expenses

Annual Elec Exp: 4000
Annual Gas Exp: 3000
Annual Ins Exp: 2100
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 0
Annual Mgmt Exp: 0
Annual Trash Exp: 942
Annual Wtr/Swr Exp: 1125
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 12693
Other Income: 4000
Vacancy Allowance: 0.05
Adjusted Gross Inc: 45980

Pmt & Rate Info

Cap Rate: 5.79
Down Payment: 0
Equity: 725000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Lockbox Type

Supra: Yes
Combo: Yes

Community Features

Other: Yes
See Remarks: Yes

Heating

Natural Gas: Yes

Cooling

Electric: Yes

Interior Features

Partially Furnished: Yes

Tenant Pays

None: Yes

Appliances Included

Refrigerator: Yes
Free-Standing Range: Yes

Road Surface Type

Dirt: Yes
Gravel: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Septic Tank: Yes

Parking Features

>1 Space Per Unit: Yes

Electric

SRP: Yes

Gas

SW Gas: Yes

Owner Pays

Water: Yes
Electric: Yes
Gas: Yes
Trash Collection: 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

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

Seller Prop Disc Stm: Yes

Existing 3rd Loan Terms

Not Applicable: Yes

Environmental

None: Yes

Existing Othr Ln Trm

Not Applicable: Yes

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: Composition Floors: Concrete Sale Includes: Land & Building; Laundry Equipment Community Features: Other; See Remarks Interior Features: Partially Furnished Appliances Included: Free-Standing Range; Refrigerator Heating: Natural Gas Cooling: Electric Water Source: City Franchise Sewer: Septic Tank Electric: SRP Gas: SW Gas Parking Features: >1 Space Per Unit Road Surface Type: Gravel; Dirt Owner Pays: Water; Electric; Gas; Trash Collection Tenant Pays: None Source of Fincl Data: Owner Showing Notification Methods: Text Lockbox Type: Supra; Combo 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: Conventional Environmental: None

Listing Office: ARRT of Real Estate

Last Updated: February - 28 - 2025