Long Shot Phoenix Avenue, Phoenix, AZ 85032

$3,600,000

Property Type: Multiple Dwellings Status: Closed

Current Price: $3,600,000 Last Modified: 1/16/2025

Overview

Description

This is a 37 Single Family Home Portfolio with a ROI of 8% based on current discounted rate. All homes have Tenants that are in a lease option position. Title held in the current entity name.

Listing Details MLS# 5391285

Location, Tax & Legal

Map Code/Grid: M32
House Number: Long Shot
Street Name: Phoenix
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85032
Country: US
County Code: Maricopa
Assessor Number: 143-12-396
Tax Year: 2015
Assessor's Map #: 12
Assessor's Parcel #: 396
Add'l Parcels: Yes
Tax Municipality: Phoenix
Taxes: 600
Legal: Multiple properties
Marketing Name: Long Shot 37 SFH

Contract Info

Ownership: Fee Simple

General Property Description

Lot Size Dimensions: 80 x 100
Year Built: 1970
Uncvrd Parking Spcs: 2
Total # of Units: 37
# of Buildings: 37
Zoning: R1-6
Elementary School District: Peoria Unified School District
High School District: Phoenix Union High School District

Remarks Misc

Cross Street: Varies
Directions: Ask for information

Status Change Info

Off Market Date: 2016-05-09
Under Contract Date: 2016-05-05
Close of Escrow Date: 2016-07-15

Legal Info

Lot Number: 1-37

More Information

Income Expenses

Net Operating Income: 310168

2 Bedroom Units

# 2 Bedroom Units: 2
Avg SqFt: 900
Avg Rent: 0

3 Bedrooms Units

# 3 Bedroom Units: 27
Avg SqFt: 1200
Avg Rent: 0

4 Bedrooms Units

# 4 Bedroom Units: 8
Avg SqFt: 1200
Avg Rent: 0

Contact Info

List Agent Home Phn: 602-942-3599

Sold Info

Loan Type: Cash to Loan
Loan Years: 20
Payment Type: Graduated
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Buyer Concession to Seller: 0
Seller Concession to Buyer: 0

Project Type

25 - 50 Units: Yes

Construction

Wood Frame: Yes

Const - Finish

Other (See Remarks): Yes

Roofing

Composition: Yes

Floors

Concrete: Yes

Sale Includes

Land & Building: 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: 600
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 0
Total Monthly Rental Income: 25847

Pmt & Rate Info

Cap Rate: 8
Down Payment: 0
Equity: 3877000
Down Payment %: 100
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0

Community Features

No Pool: Yes

Heating

Electric: Yes

Cooling

Other: Yes
See Remarks: Yes

Tenant Pays

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

Appliances Included

Free-Standing Range: Yes

Road Surface Type

Asphalt: Yes

Source of Fincl Data

Owner: Yes
Projected Proforma: Yes

Water Source

City Franchise: Yes

Sewer

Sewer - Public: Yes

Parking Features

1 Space/Unit: Yes

Electric

APS: Yes
SRP: Yes

Gas

None: Yes

Owner Pays

None: Yes

New Financing

Other (See Remarks): 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

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

Efficiency Units

Avg Rent: 0

1 Bedroom Units

Avg Rent: 0

Property Features

Project Type: 25 - 50 Units Construction: Wood Frame Const - Finish: Other (See Remarks) Roofing: Composition Floors: Concrete Sale Includes: Land & Building Community Features: No Pool Appliances Included: Free-Standing Range Cooling: Other; See Remarks Water Source: City Franchise Sewer: Sewer - Public Electric: APS; SRP Gas: None Parking Features: 1 Space/Unit Road Surface Type: Asphalt Owner Pays: None Tenant Pays: Water; Sewer; Electricity; Gas; Trash Collection; Cable TV Source of Fincl Data: Owner; Projected Proforma Existing 1st Loan: Treat as Free&Clear 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: DeLex Realty

Last Updated: January - 16 - 2025