1826 N 51st Street, Phoenix, AZ 85008

$5,250,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $5,250,000 Last Modified: 10/05/2024

Overview

Listing Details MLS# 6651091

Location, Tax & Legal

House Number: 1826
Compass: N
Street Name: 51st
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85008
County Code: Maricopa
Assessor Number: 126-20-006-B
Tax Year: 2023
Assessor's Map #: 20
Assessor's Parcel #: 6
Assessor Parcel Ltr: B
Add'l Parcels: Yes
Tax Municipality: Phoenix
Taxes: 13022
Legal: to be provided at title
Marketing Name: Desert Villa

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: unknown
Year Built: 1981
Uncvrd Parking Spcs: 23
Total # of Units: 29
# of Buildings: 7
Zoning: R-3
Elementary School District: Balsz Elementary District
High School District: Phoenix Union High School District

Status Change Info

Off Market Date: 2024-10-04
Under Contract Date: 2024-06-21
Close of Escrow Date: 2024-09-10

Legal Info

Lot Number: 4

More Information

Income Expenses

Gross Annual Sch Inc: 523800
Net Operating Income: 381067

Showing Notification Methods

Showing Service: No Showing Service Used
Text: Yes
Email: Yes

1 Bedroom Units

# 1 Bedroom Units: 21
Avg Rent: 1450
Avg SqFt: 630
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 8
Avg Rent: 1650
Avg SqFt: 830
# Baths: Yes

Sold Info

Loan Type: Conventional
Loan Years: 25
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Buyer Concession to Seller: 0
Seller Concession to Buyer: 0

Project Type

25 - 50 Units: Yes

Construction

Wood Frame: Yes
Slump Block: Yes

Const - Finish

Painted: Yes
Stucco: Yes

Roofing

Composition: Yes

Floors

Vinyl: Yes
Ceramic Tile: Yes

Sale Includes

Land & Building: Yes
Laundry Equipment: Yes

Income & Expenses

Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 13022
Other Income: 31053
Vacancy Allowance: 0.12
Adjusted Gross Inc: 488270.64

Pmt & Rate Info

Cap Rate: 6.93
Equity: 5500000
Down Payment %: 1
Monthly Payments: 1
Total Owed: 0

Lockbox Type

None: Yes

Community Features

Pool: Yes
Barbecue: Yes
See Remarks: Yes

Heating

Electric: Yes

Cooling

Ceiling Fan(s): Yes
Electric: Yes
Individual: Yes

Exterior Amenities

Desert Landscaping: Yes

Tenant Pays

Electricity: Yes

Appliances Included

Refrigerator: Yes
Free-Standing Range: Yes
Washer/Dryer: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes
Master Meter: Yes

Sewer

Sewer - Public: Yes

Parking Features

>1 Space Per Unit: Yes
Paved: Yes

Electric

SRP: Yes
Individual Meter: Yes

Gas

None: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes

New Financing

Conventional: Yes
Other (See Remarks): Yes

Reports/Disclosures

None: Yes

Environmental

None: Yes

Efficiency Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 25 - 50 Units Construction: Wood Frame; Slump Block Const - Finish: Painted; Stucco Roofing: Composition Floors: Vinyl; Ceramic Tile Sale Includes: Land & Building; Laundry Equipment Community Features: Pool; Barbecue; See Remarks Exterior Amenities: Desert Landscaping Appliances Included: Free-Standing Range; Refrigerator; Washer/Dryer Cooling: Ceiling Fan(s); Electric; Individual Water Source: City Franchise; Master Meter Sewer: Sewer - Public Electric: SRP; Individual Meter Gas: None Parking Features: >1 Space Per Unit; Paved Road Surface Type: Asphalt Owner Pays: Water; Trash Collection Tenant Pays: Electricity Source of Fincl Data: Owner Showing Notification Methods: Text; Email Lockbox Type: None New Financing: Conventional; Other (See Remarks) Environmental: None

Listing Office: Munroe Multifamily

Last Updated: October - 05 - 2024