3025 N 38th Street, Phoenix, AZ 85018

$3,750,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $3,750,000 Last Modified: 9/05/2024

Overview

Listing Details MLS# 6614751

Location, Tax & Legal

House Number: 3025
Compass: N
Street Name: 38th
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85018
Country: US
County Code: Maricopa
Assessor Number: 127-21-017
Tax Year: 2023
Assessor's Map #: 21
Assessor's Parcel #: 17
Add'l Parcels: No
Tax Municipality: Maricopa - COUNTY
Taxes: 14343
Legal: CITRUS ACRES
Marketing Name: Estilo

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 40,408 sq ft.
Year Built: 1971
Uncvrd Parking Spcs: 12
Total # of Units: 15
# of Buildings: 7
Zoning: R-3
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District

Status Change Info

Off Market Date: 2024-09-05
Under Contract Date: 2024-07-11
Close of Escrow Date: 2024-08-19

Legal Info

Lot Number: 88

More Information

Income Expenses

Gross Annual Sch Inc: 286548
Net Operating Income: 218528

Showing Notification Methods

Showing Service: Aligned Showings
Text: Yes
Email: Yes
Phone Call: Yes

1 Bedroom Units

# 1 Bedroom Units: Yes
Avg Rent: 1400
Avg SqFt: 700
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 14
Avg Rent: 1600
Avg SqFt: 880
# Baths: 14

Sold Info

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

Project Type

13 - 24 Units: Yes

Construction

Block: Yes

Const - Finish

Stucco: Yes

Roofing

Composition: Yes

Floors

Concrete: Yes

Sale Includes

Land & Building: Yes

Income & Expenses

Annual Elec Exp: 9967
Annual Ins Exp: 5625
Annual Landscape Exp: 3750
Annual Legal & Acctg: 8021
Annual Maint Exp: 6750
Annual Mgmt Exp: 13022
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual Rplcmnt Rsrvs: 4500
Annual Other Expense: 1875
Operating Exp: 67853
Other Income: 20026
Vacancy Allowance: 0.05
Adjusted Gross Inc: 291245.3

Pmt & Rate Info

Cap Rate: 5.08
Equity: 4300000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0

Lockbox Type

None: Yes

Community Features

Pool: Yes
Barbecue: Yes

Heating

Electric: Yes

Cooling

Ceiling Fan(s): Yes
Electric: Yes

Exterior Amenities

Green Landscaping: Yes
Fenced: Yes

Tenant Pays

Electricity: Yes

Appliances Included

Dishwasher: Yes
Microwave: Yes
Built-In Range: Yes
Washer/Dryer: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes
Projected Proforma: Yes

Water Source

Master Meter: Yes

Sewer

Sewer - Public: Yes

Parking Features

>1 Space Per Unit: Yes

Electric

SRP: Yes
Individual Meter: Yes

Gas

SW Gas: Yes

Owner Pays

Water: Yes
Sewer: Yes
Trash Collection: Yes
Landscaping: Yes

New Financing

Conventional: Yes
Owner May Carry: Yes
1031 Exchange: 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: 13 - 24 Units Construction: Block Const - Finish: Stucco Roofing: Composition Floors: Concrete Sale Includes: Land & Building Community Features: Pool; Barbecue Exterior Amenities: Green Landscaping; Fenced Appliances Included: Built-In Range; Dishwasher; Microwave; Washer/Dryer Cooling: Ceiling Fan(s); Electric Water Source: Master Meter Sewer: Sewer - Public Electric: SRP; Individual Meter Gas: SW Gas Parking Features: >1 Space Per Unit Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity Source of Fincl Data: Owner; Projected Proforma Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None New Financing: Conventional; Owner May Carry; 1031 Exchange Environmental: None

Listing Office: Marcus & Millichap

Last Updated: September - 05 - 2024