6616 N 16TH Street 1, Phoenix, AZ 85016

$4,000,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $4,000,000 Last Modified: 5/16/2025

Overview

Listing Details MLS# 6363222

Location, Tax & Legal

Map Code/Grid: N34
House Number: 6616
Compass: N
Street Name: 16TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85016
County Code: Maricopa
Assessor Number: 161-08-079
Tax Year: 2021
Unit #: Yes
Assessor's Map #: 8
Legal Description (Abbrev): BEG AT NE COR N2 S2 NE4 SE4 NE4 TH N 89D 28M 40SC W 174.50F TH S 00D 37M 30SC W 120F TH S 22D 33M 10
Assessor's Parcel #: 79
Add'l Parcels: Yes
Tax Municipality: Phoenix
Census Tract: 106502
Taxes: 3552
Legal: BEG AT NE COR N2 S2 NE4 SE4 NE4 TH N 89D 28M 40SC W 174.50F TH S 00D 37M 30SC W 120F TH S 22D 33M 10
Marketing Name: Sachar Court

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 0.67 Acres
Year Built: 2022
Uncvrd Parking Spcs: 2
Total # of Units: 5
# of Buildings: 5
Zoning: R1-6

Status Change Info

Off Market Date: 2022-06-07
Under Contract Date: 2022-06-06
Close of Escrow Date: 2022-07-30

Legal Info

Township: 2N
Range: 3E
Section: 9
Lot Number: Yes

More Information

Income Expenses

Gross Annual Sch Inc: 252300
Net Operating Income: 195359

4 Bedrooms Units

# 4 Bedroom Units: 5
Avg Rent: 4205
Avg SqFt: 2545
# Baths: 15

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

5 - 12 Units: Yes

Construction

Wood Frame: Yes

Const - Finish

Stucco: Yes
Stone: Yes

Roofing

Other: Yes

Floors

Other: Yes

Sale Includes

Building(s) Only: Yes
Land & Building: Yes
Other (See Remarks): Yes

Income & Expenses

Owner Association: No
Annual Ownr Asoc Fee: 0
Operating Exp: 3552
Other Income: 1000
Vacancy Allowance: 12600
Adjusted Gross Inc: 3191326700

Pmt & Rate Info

Cap Rate: 4.6
Equity: 4250000
Down Payment %: 35
Monthly Payments: 12404
Total Owed: 0

Showing Notification Methods

Text: Yes
Email: Yes
Phone Call: Yes

Lockbox Type

None: Yes

Community Features

No Pool: Yes
See Remarks: Yes

Heating

See Remarks: Yes

Cooling

See Remarks: Yes

Exterior Amenities

Sidewalk(s): Yes

Tenant Pays

Other (See Remarks): Yes

Appliances Included

Other: Yes

Road Access Type

Private Road: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes
Other (See Remarks): Yes

Water Source

See Remarks: Yes

Sewer

Other: Yes

Parking Features

Other: Yes

Electric

Other (See Remarks): Yes

Gas

Other (See Remarks): Yes

Owner Pays

Other: Yes
See Remarks: Yes

New Financing

Other (See Remarks): Yes

Reports/Disclosures

Other (See Remarks): Yes

Environmental

Other (See Remarks): Yes

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

2 Bedroom Units

Avg Rent: 0

3 Bedrooms Units

Avg Rent: 0

Property Features

Project Type: 5 - 12 Units Construction: Wood Frame Const - Finish: Stucco; Stone Roofing: Other Floors: Other Sale Includes: Building(s) Only; Land & Building; Other (See Remarks) Community Features: No Pool; See Remarks Exterior Amenities: Sidewalk(s) Appliances Included: Other Heating: See Remarks Cooling: See Remarks Water Source: See Remarks Sewer: Other Electric: Other (See Remarks) Gas: Other (See Remarks) Parking Features: Other Road Access Type: Private Road Road Surface Type: Asphalt Owner Pays: Other; See Remarks Tenant Pays: Other (See Remarks) Source of Fincl Data: Owner; Other (See Remarks) Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None New Financing: Other (See Remarks) Environmental: Other (See Remarks)

Listing Office: Marcus & Millichap

Last Updated: May - 16 - 2025