4530 W MCLELLAN Road, Glendale, AZ 85301

$5,900,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $5,900,000 Last Modified: 12/13/2024

Overview

Description

Maryland West Apartment Homes consists of a 100 unit community over 4.44 acres. 90% of the unit mix are 2 and 3 bedroom units. 15 total buildings (one is the laundry). Same ownership for decades. Value-add opportunity. Buyer to complete and rely on own due diligence. A tour of the property including a vacant unit can be arranged. No showings of occupied units w/out LOI or offer. Please do not walk the property or disturb the tenants.

Listing Details MLS# 5480952

Location, Tax & Legal

Map Code/Grid: N32
House Number: 4530
Compass: W
Street Name: MCLELLAN
St Suffix: Road
City/Town Code: Glendale
State/Province: AZ
Zip Code: 85301
Zip4: 4237
County Code: Maricopa
Assessor Number: 146-27-001-E
Tax Year: 2015
Assessor's Map #: 27
Legal Description (Abbrev): TH PT N2 SW4 NE4 DES AS FOL BEG AT A PT 317.20' S & 30' W FR TH NE COR OF SD SW4 NE4 TH S 292.25' TH
Assessor's Parcel #: 1
Assessor Parcel Ltr: E
Add'l Parcels: No
Tax Municipality: Glendale
Census Tract: 93001
Taxes: 29975
Legal: TH PT N2 SW4 NE4 DES AS FOL BEG AT A PT 317.20' S & 30' W FR TH NE COR OF SD SW4 NE4 TH S 292.25' TH
Marketing Name: Maryland West 100

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 4.44 acres
Year Built: 1970
Uncvrd Parking Spcs: 80
Total # of Units: 100
# of Buildings: 15
Zoning: R-4
Elementary School District: Glendale Elementary District

Remarks Misc

Cross Street: Maryland and 47th Ave
Directions: 1/2 mile north of Bethany Home off of 47th Ave or 45th Ave.

Status Change Info

Off Market Date: 2016-12-19
Under Contract Date: 2016-10-27
Close of Escrow Date: 2016-12-28

Legal Info

Township: 2N
Range: 2E
Section: 9

More Information

1 Bedroom Units

# 1 Bedroom Units: 10
Avg Rent: 789
# Baths: Yes

2 Bedroom Units

# 2 Bedroom Units: 64
Avg Rent: 850
# Baths: Yes

3 Bedrooms Units

# 3 Bedroom Units: 26
Avg Rent: 975
# Baths: Yes

Sold Info

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

Project Type

100+ Units: Yes

Construction

Wood Frame: Yes
Steel Frame: Yes

Const - Finish

Painted: Yes
Stucco: Yes

Roofing

Composition: Yes

Floors

Vinyl: Yes
Wood: Yes
Ceramic Tile: Yes
Carpet: Yes

Sale Includes

Land & Building: Yes
Laundry Equipment: Yes

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: 29975
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0

Pmt & Rate Info

Down Payment: 0
Equity: 5900000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Community Features

No Pool: Yes
Manager Res/Office: Yes
Play Area: Yes
Barbecue: Yes

Heating

Natural Gas: Yes
Central: Yes

Cooling

Chiller System: Yes

Exterior Amenities

Landscape Water System: Yes
Green Landscaping: Yes
Desert Landscaping: Yes
Patio/Balcony: Yes
Security Light(s): Yes

Interior Features

Unfurnished: Yes
Fire/Smoke Alarm(s): Yes
Mini Blinds: Yes
Drapes: Yes

Tenant Pays

Cable TV: Yes

Appliances Included

Dishwasher: Yes
Disposal: Yes
Refrigerator: Yes
Free-Standing Range: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes
Projected Proforma: Yes
Books Shwn Accpt Ofr: Yes

Water Source

City Franchise: Yes
Master Meter: Yes

Sewer

Sewer - Public: Yes

Parking Features

Carport: Yes
Free: Yes
>1 Space Per Unit: Yes
Paved: Yes
Assigned: Yes

Electric

APS: Yes
Master Meter: Yes

Gas

SW Gas: Yes
Master Meter: Yes

Owner Pays

Water: Yes
Sewer: Yes
Electric: Yes
Gas: Yes
Trash Collection: Yes
Landscaping: Yes

New Financing

Conventional: Yes
No Carry: Yes
1031 Exchange: Yes

Existing 1st Loan

Treat as Free&Clear: Yes

Existing 1st Loan Type

Not Applicable: Yes

Existing 1st Loan Terms

Not Applicable: Yes

Existing 2nd Loan

Treat as Free&Clear: Yes

Existing 2nd Loan Type

Not Applicable: Yes

Existing 2nd Loan Terms

Not Applicable: Yes

Existing 3rd Loan

Treat as Free&Clear: 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

Efficiency Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 100+ Units Construction: Wood Frame; Steel Frame Const - Finish: Painted; Stucco Roofing: Composition Floors: Vinyl; Wood; Ceramic Tile; Carpet Sale Includes: Land & Building; Laundry Equipment Community Features: No Pool; Manager Res/Office; Play Area; Barbecue Exterior Amenities: Landscape Water System; Green Landscaping; Desert Landscaping; Patio/Balcony; Security Light(s) Interior Features: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds; Drapes Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal Heating: Natural Gas; Central Cooling: Chiller System Water Source: City Franchise; Master Meter Sewer: Sewer - Public Electric: APS; Master Meter Gas: SW Gas; Master Meter Parking Features: Carport; >1 Space Per Unit; Assigned; Free; Paved Road Surface Type: Asphalt Owner Pays: Water; Electric; Gas; Trash Collection; Landscaping Tenant Pays: Cable TV Source of Fincl Data: Owner; Projected Proforma; Books Shwn Accpt Ofr Existing 1st Loan: Treat as Free&Clear Existing 1st Loan Type: Not Applicable Existing 1st Loan Terms: Not Applicable 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; No Carry; 1031 Exchange Environmental: None

Listing Office: RE/MAX Platinum Living

Last Updated: December - 13 - 2024