Glendale, AZ 85301
$740,000
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$740,000
Last Modified:
2/07/2019
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!!
More Information MLS# 5516965
Contract Info
Ownership: Fee Simple
Current Price: $740,000
Sold Price: $740,000
Status: Closed
List Date: 2016-10-24
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: 3758
Legal: COOK & WHITE ADD AMD
Marketing Name: Myrtle Manor
Map Code/Grid: N32
City/Town Code: Glendale
State/Province: AZ
Zip Code: 85301
Subdivision: COOK & WHITE ADD AMD
Assessor Number: 147-18-118
Tax Year: 2016
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: 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: 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
Accountant: 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
Existing 1st Loan
Conventional: 1
Existing 1st Loan Type
Fixed: 1
Existing 1st Loan Terms
Non Assumable: 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
Contact Info
List Agent Home Phn: 480-248-8256
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 10
Avg Rent: 730
Avg SqFt: 1000
# 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: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
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
Sold Price: $740,000
Income Expenses
Net Operating Income: 50921
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
Listing Office:
Arizona Investment & Mgt, LLC
Last Updated: February - 07 - 2019
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