2602 W GLENROSA Avenue, Phoenix, AZ 85017

$4,450,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $4,450,000 Last Modified: 1/24/2025

Overview

Description

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Listing Details MLS# 5882309

Location, Tax & Legal

Map Code/Grid: P33
House Number: 2602
Compass: W
Street Name: GLENROSA
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85017
Zip4: 4346
County Code: Maricopa
Assessor Number: 154-18-001
Tax Year: 2018
Assessor's Map #: 18
Legal Description (Abbrev): E 166' OF S2 SW4 NW4 SW4 & S 15' OF N2 SW4 NW4 SW4 EX W 58' & EX S 30' RD .78 AC
Assessor's Parcel #: 1
Add'l Parcels: Yes
Tax Municipality: Phoenix
Census Tract: 109001
Taxes: 15909
Legal: E 166' OF S2 SW4 NW4 SW4 & S 15' OF N2 SW4 NW4 SW4 EX W 58' & EX S 30' RD .78 AC
Marketing Name: RADIUS APARTMENTS

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: irreg
Year Built: 1979
Uncvrd Parking Spcs: 70
Total # of Units: 72
# of Buildings: 7
Zoning: CC-C2
Elementary School District: Alhambra Elementary District
High School District: Phoenix Union High School District

Remarks Misc

Directions: I-17 to Indian school road, West to 27th Avenue, North on 27th to GLENROSA, East to property on north side of road.

Status Change Info

Off Market Date: 2019-05-31
Under Contract Date: 2019-02-21
Close of Escrow Date: 2019-06-21

Legal Info

Township: 2N
Range: 2E
Section: 24

More Information

Income Expenses

Gross Annual Sch Inc: 485000
Net Operating Income: 333411

Efficiency Units

# Efficiency Units: 48
Avg Rent: 527
Avg SqFt: 390
# Baths: Yes

1 Bedroom Units

# 1 Bedroom Units: 22
Avg Rent: 619
Avg SqFt: 560
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 2
Avg Rent: 742
Avg SqFt: 700
# 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

51 - 99 Units: Yes

Construction

Wood Frame: Yes

Const - Finish

Painted: Yes
Stucco: Yes

Roofing

Composition: Yes
Built-Up: Yes

Floors

Vinyl: Yes
Sealed: Yes
Wood: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Annual Elec Exp: 31991
Annual Gas Exp: 4913
Annual Ins Exp: 9424
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 350
Annual Maint Exp: 8051
Annual Mgmt Exp: 24794
Annual Trash Exp: 5671
Annual Wtr/Swr Exp: 17773
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 29955
Operating Exp: 148831
Other Income: 9852
Vacancy Allowance: 0.03
Adjusted Gross Inc: 481985.85

Pmt & Rate Info

Cap Rate: 7.41
Down Payment: 4499000
Equity: 4499000
Down Payment %: 100
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Community Features

Manager Res/Office: Yes
Barbecue: Yes

Heating

Electric: Yes
Central: Yes

Cooling

Central Air: Yes
Electric: Yes

Exterior Amenities

Desert Landscaping: Yes
Fenced: Yes
Satellite Dish: Yes
Cable TV Available: Yes
Patio/Balcony: Yes
Security Light(s): Yes

Interior Features

Unfurnished: Yes
Mini Blinds: Yes

Tenant Pays

None: Yes

Appliances Included

Refrigerator: Yes
Free-Standing Range: Yes

Road Surface Type

Asphalt: Yes
Concrete: Yes

Source of Fincl Data

Owner: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

1 Space/Unit: Yes

Electric

APS: Yes
Master Meter: Yes

Gas

SW Gas: Yes

Owner Pays

Water: Yes
Sewer: Yes
Electric: Yes
Gas: Yes
Trash Collection: Yes
Cable TV: Yes

New Financing

Other (See Remarks): Yes

Existing 1st Loan

Other (See Rmks): Yes

Existing 1st Loan Type

Not Applicable: Yes

Existing 1st Loan Terms

Not Applicable: 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

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 51 - 99 Units Construction: Wood Frame Const - Finish: Painted; Stucco Roofing: Composition; Built-Up Floors: Vinyl; Sealed; Wood Sale Includes: Land & Building Community Features: Manager Res/Office; Barbecue Exterior Amenities: Desert Landscaping; Fenced; Satellite Dish; Cable TV Available; Patio/Balcony; Security Light(s) Interior Features: Unfurnished; Mini Blinds Appliances Included: Free-Standing Range; Refrigerator Heating: Central Cooling: Electric; Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: APS; Master Meter Gas: SW Gas Parking Features: 1 Space/Unit Road Surface Type: Asphalt; Concrete Owner Pays: Water; Electric; Gas; Trash Collection; Cable TV Tenant Pays: None Source of Fincl Data: Owner Existing 1st Loan: Other (See Rmks) Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable 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: Other (See Remarks) Environmental: None

Listing Office: Kasten Long Commercial Group

Last Updated: January - 24 - 2025