Glendale, AZ 85301

$740,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $740,000 Last Modified: 2/07/2019

Overview

Description

Gated boutique complex of 10 large 2 bedroom, 2 bath rental units. Each unit features in-suite washer, dryer and fireplace. Covered parking and quiet location are additional features that underline rental demand for these rarely vacant units. Current rents are below market and with minor refreshing should achieve solid rental bumps on unit turns. Upper units have attractive vaulted ceilings with skylights.NEW ROOFS!!

Listing Details MLS# 5516965

Location, Tax & Legal

Map Code/Grid
N32
City/Town Code
Glendale
State/Province
AZ
Zip Code
85301
Country
US
Subdivision
COOK & WHITE ADD AMD
Assessor Number
147-18-118
Tax Year
2016
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
3758
Legal
COOK & WHITE ADD AMD
Marketing Name
Myrtle Manor

Contract Info

Ownership
Fee Simple

General Property Description

Lot Size Dimensions
115X40
Year Built
1985
Uncvrd Parking Spcs
8
Total # of Units
10
# of Buildings
Yes
Zoning
R-3
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

Remarks Misc

Cross Street
59th Avenue & Glendale Road
Directions
Turn left onto Myrtle AV and Turn right onto N54 Ave. Destination will be on the right.

Status Change Info

Off Market Date
2016-12-20
Under Contract Date
2016-12-09
Close of Escrow Date
2017-01-04

Legal Info

Township
2N
Range
2E
Section
5
Block
5
Lot Number
10

More Information

Income Expenses

Net Operating Income
50921

2 Bedroom Units

# 2 Bedroom Units
10
Avg Rent
730
Avg SqFt
1000
# Baths
2

Contact Info

List Agent Home Phn
480-248-8256

Sold Info

Loan Type
Cash
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

Construction

Wood Frame
Yes

Const - Finish

Painted
Yes
Stucco
Yes

Roofing

Composition
Yes
Tile
Yes

Floors

Vinyl
Yes
Carpet
Yes

Sale Includes

Land & Building
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
0
Operating Exp
3758
Other Income
0
Vacancy Allowance
0
Adjusted Gross Inc
0

Pmt & Rate Info

Cap Rate
6.81
Down Payment
0
Equity
748000
Down Payment %
0
Monthly Payments
0
Total Owed
0
Assessment Balance
0

Community Features

No Pool
Yes

Heating

Electric
Yes

Cooling

Central Air
Yes
Individual
Yes

Exterior Amenities

Fenced
Yes
Other (See Remarks)
Yes

Interior Features

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

Tenant Pays

Electricity
Yes
Cable TV
Yes

Appliances Included

Dishwasher
Yes
Disposal
Yes
Refrigerator
Yes
Washer/Dryer
Yes

Road Surface Type

Asphalt
Yes

Source of Fincl Data

Accountant
Yes

Water Source

City Franchise
Yes
Master Meter
Yes

Sewer

Sewer - Public
Yes

Parking Features

Carport
Yes
1 Space/Unit
Yes
Other
Yes

Electric

APS
Yes
Individual Meter
Yes

Gas

None
Yes

Owner Pays

Water
Yes
Sewer
Yes
Trash Collection
Yes
Landscaping
Yes

New Financing

Conventional
Yes
No Carry
Yes

Existing 1st Loan

Conventional
Yes

Existing 1st Loan Type

Fixed
Yes

Existing 1st Loan Terms

Non Assumable
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: 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: Accountant Existing 1st Loan: Conventional Existing 1st Loan Type: Fixed Existing 1st Loan Terms: Non Assumable 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 Environmental: None
IDX
Listing Office: Arizona Investment & Mgt, LLC
Last Updated: February - 07 - 2019
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