98-82 W CULVER Street, Phoenix, AZ 85003

$2,000,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $2,000,000 Last Modified: 1/02/2024

Overview

Description

Closed for $2,000,000 or $293/SF or $181,818/unit on 6/30/2021. Buyers obtained four residential loans as this is a four building/lot sale. Location, location, location! In the Roosevelt District across from Margaret T. Hance Park. This offering includes 11 units over 4 buildings. Rents well-below market. Value-Add opportunity in one of the hottest areas in Phoenix, a true ''A'' location. Buyer to complete/rely on own due diligence. Some expenses estimated. Do not bother tenants. Unique opportunity in a top location.

Listing Details MLS# 6150856

Location, Tax & Legal

Map Code/Grid
P34
House Number
98-82
Compass
W
Street Name
CULVER
St Suffix
Street
City/Town Code
Phoenix
State/Province
AZ
Zip Code
85003
Zip4
1276
Country
US
County Code
Maricopa
Subdivision
BLOUNT ADDITION
Assessor Number
111-33-023
Tax Year
2020
Assessor's Map #
33
Legal Description (Abbrev)
LOT 21 BLOUNT ADDITION MCR 001002
Assessor's Parcel #
23
Add'l Parcels
Yes
Tax Municipality
Phoenix
Census Tract
113000
Taxes
8491
Legal
LOT 21 BLOUNT ADDITION MCR 001002
Marketing Name
Culver 11 @ Hance Park

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
T.B.V.
Year Built
1948
Uncvrd Parking Spcs
12
Total # of Units
11
# of Buildings
4
Zoning
M-H
Elementary School District
Phoenix Elementary District
High School District
Phoenix Union High School District

Remarks Misc

Cross Street
Central Avenue & McDowell
Directions
Roosevelt Historic District, across the street f/ Margaret T. Hance Park. Culver can be accessed from 3rd Ave or Central. 4 buildings-11 units. Note there is a separately owned single-family between.

Status Change Info

Off Market Date
2021-05-02
Under Contract Date
2021-04-10
Close of Escrow Date
2021-06-30

Legal Info

Township
1N
Range
3E
Section
5
Lot Number
21

More Information

Efficiency Units

# Efficiency Units
Yes
Avg Rent
775
Avg SqFt
458
# Baths
Yes

1 Bedroom Units

# 1 Bedroom Units
7
Avg Rent
890
Avg SqFt
596
# Baths
Yes

2 Bedroom Units

# 2 Bedroom Units
3
Avg Rent
1100
Avg SqFt
738
# Baths
Yes

Sold Info

Loan Type
Conventional
Loan Years
30
Payment Type
Fixed
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

Packaged Offering
Yes
Other (See Remarks)
Yes

Construction

Brick
Yes

Const - Finish

Painted
Yes

Roofing

Composition
Yes

Floors

Ceramic Tile
Yes

Sale Includes

Land & Building
Yes
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 Other Expense
0
Operating Exp
8491
Other Income
0
Vacancy Allowance
0
Adjusted Gross Inc
0
Total Monthly Rental Income
0

Pmt & Rate Info

Down Payment
0
Equity
2200000
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

Window/Wall Unit(s)
Yes

Cooling

Evaporative Cooling
Yes

Exterior Amenities

Green Landscaping
Yes
Desert Landscaping
Yes
Other (See Remarks)
Yes

Interior Features

Unfurnished
Yes

Tenant Pays

Gas
Yes
Electricity
Yes

Appliances Included

Refrigerator
Yes
Free-Standing Range
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Owner
Yes
Projected Proforma
Yes
Other (See Remarks)
Yes

Water Source

City Franchise
Yes

Sewer

Sewer - Public
Yes

Parking Features

On Street
Yes
1 Space/Unit
Yes

Electric

APS
Yes

Gas

SW Gas
Yes

Owner Pays

Water
Yes
Sewer
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

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: Packaged Offering; Other (See Remarks) Construction: Brick Const - Finish: Painted Roofing: Composition Floors: Ceramic Tile Sale Includes: Land & Building; Other (See Remarks) Community Features: No Pool Exterior Amenities: Green Landscaping; Desert Landscaping; Other (See Remarks) Interior Features: Unfurnished Appliances Included: Free-Standing Range; Refrigerator Heating: Window/Wall Unit(s) Cooling: Evaporative Cooling Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: On Street; 1 Space/Unit Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity; Gas Source of Fincl Data: Owner; Projected Proforma; Other (See Remarks) 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: 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 Environmental: None
IDX
Listing Office: Better Homes & Gardens Real Estate SJ Fowler
Last Updated: January - 02 - 2024
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