2540 W MARYLAND Avenue, Phoenix, AZ 85017

$4,999,950

Property Type: Multiple Dwellings Status: Closed

Current Price: $4,999,950 Last Modified: 9/02/2020

Description

ATTENTION: $1.2M REDUCTION FOR IMMEDIATE CASH SALE! Priced appx. $27.5k a door, and $37.90 sq/ft. Separately metered. Remodeled from top to bottom in 2011-2012.approximately 131,816 livable sq ft. Great unit mix with 75% large two bedroom, 25% large one bedrooms. 100% HOA control. Appx, 11% cap at 80% occupancy. Best multi-family opportunity in Phoenix today. Compare this property to anything comparable and you will be writing a check.

More Information MLS# 4824545

Contract Info

Ownership: Fee Simple Current Price: $4,999,950 Sold Price: $4,999,950 Status: Closed List Date: 2012-09-25

Location, Tax & Legal

Assessor's Map #: 2 Legal Description (Abbrev): MARIBELA CONDOMINIUMS Assessor's Parcel #: 273 Add'l Parcels: Yes Tax Municipality: Phoenix Census Tract: 106801 Taxes: 36000 Legal: MARIBELA CONDOMINIUMS MCR 831-02 Marketing Name: Maribela Luxury Condos Map Code/Grid: N33 House Number: 2540 Compass: W Street Name: MARYLAND St Suffix: Avenue City/Town Code: Phoenix State/Province: AZ Zip Code: 85017 Zip4: 6227 County Code: Maricopa Assessor Number: 156-02-273 Tax Year: 2012

General Property Description

# of Buildings: 12 Uncvrd Parking Spcs: 60 Lot Size Dimensions: Irregular Total # of Units: 192 Elementary School District: Washington Elementary District High School District: Glendale Union High School District Year Built: 1985 Zoning: R4

Legal Info

Range: 2E Section: 12 Township: 2N Lot Number: 249

Project Type

100+ Units: 1

Construction

Wood Frame: 1

Const - Finish

Painted: 1 Stucco: 1

Roofing

Foam: 1

Floors

Wood: 1 Ceramic Tile: 1 Carpet: 1

Sale Includes

Land & Building: 1 Pool Equipment: 1

Income & Expenses

Annual Elec Exp: 8800 Annual Gas Exp: 1464 Annual Ins Exp: 12672 Annual Land Lse Exp: 0 Annual Landscape Exp: 9600 Annual Legal & Acctg: 34000 Annual Maint Exp: 20477 Annual Mgmt Exp: 20000 Annual Trash Exp: 1848 Annual Wtr/Swr Exp: 36000 Owner Association: Yes Annual Ownr Asoc Fee: 2340 Annual PAD Fee: 0 Annual Rplcmnt Rsrvs: 0 Annual Other Expense: 0 Operating Exp: 183201 Other Income: 11400 Vacancy Allowance: 0.1 Adjusted Gross Inc: 913680

Pmt & Rate Info

Cap Rate: 10.08 Down Payment: 3600000 Equity: 4999950 Down Payment %: 60 Monthly Payments: 20000 Total Owed: 0 Assessment Balance: 0

Payment Includes

Interest: 1

Community Features

Pool: 1 Spa(s): 1 Manager Res/Office: 1 Barbecue: 1

Heating

Electric: 1

Cooling

Ceiling Fan(s): 1 Electric: 1

Exterior Amenities

Landscape Water System: 1 Desert Landscaping: 1 Fenced: 1 Patio/Balcony: 1 Security Guard: 1 Security Light(s): 1

Interior Features

Fire/Smoke Alarm(s): 1 Mini Blinds: 1

Tenant Pays

Electricity: 1

Appliances Included

Refrigerator: 1 Built-In Range: 1 Trash Compactor: 1 Washer/Dryer: 1

Road Surface Type

Asphalt: 1

Source of Fincl Data

Owner: 1

Water Source

City Franchise: 1

Sewer

Sewer - Public: 1

Parking Features

Carport: 1 Free: 1 >1 Space Per Unit: 1

Electric

SRP: 1

Gas

SW Gas: 1

Owner Pays

Water: 1 Trash Collection: 1 Landscaping: 1 Pool Maintenance: 1

New Financing

Conventional: 1 Owner May Carry: 1

Existing 1st Loan

Private: 1

Existing 1st Loan Type

Fixed: 1

Existing 1st Loan Terms

Non Assumable: 1 No Prepay Penalty: 1

Existing 2nd Loan

Treat as Free&Clear: 1

Existing 2nd Loan Type

Not Applicable: 1

Existing 2nd Loan Terms

Not Applicable: 1

Existing 3rd Loan

Treat as Free&Clear: 1

Existing 3rd Loan Type

Not Applicable: 1

Reports/Disclosures

Seller Prop Disc Stm: 1

Existing 3rd Loan Terms

Not Applicable: 1

Environmental

None: 1

Existing Othr Ln Trm

Not Applicable: 1

Contact Info

List Agent Home Phn: 602-615-6900

Efficiency Units

Avg Rent: 0

1 Bedroom Units

# 1 Bedroom Units: 46 Avg Rent: 480 Avg SqFt: 600 # Baths: 1

2 Bedroom Units

# 2 Bedroom Units: 135 Avg Rent: 650 Avg SqFt: 700 # Baths: 1

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Sold Info

Loan Type: Cash Closing Cost Split: Normal - N Payment Type: Other Buyer Concession to Seller: 0 Buyer Concession $/%: $ Seller Concession to Buyer: 0 Seller Concession $/%: $

Remarks Misc

Cross Street: 27th ave and Maryland Directions: Head east on Maryland Ave from 27th Ave. Property is on north side of street. Geo Lat: 33.53163 Geo Lon: -112.11484

Status Change Info

Off Market Date: 2012-10-25 Under Contract Date: 2012-10-22 Close of Escrow Date: 2012-11-20 Sold Price: $4,999,950

Income Expenses

Gross Annual Sch Inc: 1003800 Net Operating Income: 504000

Property Features

Project Type: 100+ Units Construction: Wood Frame Const - Finish: Painted; Stucco Roofing: Foam Floors: Wood; Ceramic Tile; Carpet Sale Includes: Land & Building; Pool Equipment Payment Includes: Interest Community Features: Pool; Spa(s); Manager Res/Office; Barbecue Exterior Amenities: Landscape Water System; Desert Landscaping; Fenced; Patio/Balcony; Security Guard; Security Light(s) Interior Features: Fire/Smoke Alarm(s); Mini Blinds Appliances Included: Built-In Range; Refrigerator; Trash Compactor; Washer/Dryer Cooling: Ceiling Fan(s); Electric Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: SW Gas Parking Features: Carport; >1 Space Per Unit; Free Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping; Pool Maintenance Tenant Pays: Electricity Source of Fincl Data: Owner Existing 1st Loan: Private Existing 1st Loan Type: Fixed Existing 1st Loan Terms: Non Assumable; No Prepay Penalty 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; Owner May Carry Environmental: None

Listing Office: Realty USA Southwest

Last Updated: September - 02 - 2020