Ownership: Fee Simple
Current Price: $4,275,000
Sold Price: $4,275,000
Status: Closed
List Date: 2021-12-02
Assessor's Map #: 25
Assessor's Parcel #: 174
Add'l Parcels: Yes
Tax Municipality: Phoenix
Taxes: 3312
Legal: GERMANIA PL PT LOT 12 E2 & GERMANIA PL PT LOT 12 W2
Marketing Name: Polk Bungalows
Map Code/Grid: Q34
House Number: 1337
Compass: E
Street Name: Polk
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85006
County Code: Maricopa
Assessor Number: 116-25-174
Tax Year: 2021
# of Buildings: 10
Uncvrd Parking Spcs: 4
Lot Size Dimensions: 200' x 109'
Flood Zone: No
Total # of Units: 10
Elementary School District: Phoenix Elementary District
High School District: Phoenix Union High School District
Elementary School: Kenilworth Elementary School
Jr. High School: Whittier Elementary School - Phoenix
High School: Central High School
Year Built: 2022
Zoning: R-5, HP
Range: 3E
Section: 4
Township: 1N
Lot Number: 12
Land & Building: 1
Laundry Equipment: 1
Annual Elec Exp: 2000
Annual Ins Exp: 3000
Annual Legal & Acctg: 1000
Annual Maint Exp: 6000
Annual Mgmt Exp: 11911
Annual Wtr/Swr Exp: 8000
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual Rplcmnt Rsrvs: 200
Annual Other Expense: 1250
Operating Exp: 36673
Other Income: 12000
Vacancy Allowance: 0.06
Adjusted Gross Inc: 237500.4
Cap Rate: 4.43
Equity: 4300000
Down Payment %: 50
Monthly Payments: 7656
Total Owed: 0
Electric: 1
Individual: 1
Electric: 1
Heat Pump: 1
Individual: 1
Landscape Water System: 1
Desert Landscaping: 1
Partially Fenced: 1
Patio/Balcony: 1
Water: 1
Sewer: 1
Electricity: 1
Trash Collection: 1
Free-Standing Range: 1
Refrigerator: 1
Dishwasher: 1
Disposal: 1
Microwave: 1
Washer/Dryer: 1
City Franchise: 1
Master Meter: 1
Sewer - Public: 1
Sewer-In & Connected: 1
Carport: 1
On Street: 1
1 Space/Unit: 1
>1 Space Per Unit: 1
Assigned: 1
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
Conventional: 1
No Carry: 1
1031 Exchange: 1
Other (See Remarks): 1
Seller Prop Disc Stm: 1
ALTA Survey Availbl: 1
List Agent Home Phn: 602-793-2753
# 1 Bedroom Units: 9
Avg Rent: 1895
Avg SqFt: 885
# Baths: 15
# 2 Bedroom Units: 1
Avg Rent: 3000
Avg SqFt: 1379
# Baths: 2
Loan Type: Conventional
Loan Years: 30
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Cross Street: 16th St & Van Buren St.
Directions: Wast on Van Buren, North on 14th St, West on Polk. Property on South side.
Geo Lat: 33.452351
Geo Lon: -112.05304
Off Market Date: 2022-02-25
Under Contract Date: 2022-02-16
Close of Escrow Date: 2022-03-31
Sold Price: $4,275,000
Gross Annual Sch Inc: 240660
Net Operating Income: 190559
Project Type: 5 - 12 Units
Construction: Block; Wood Frame
Const - Finish: Painted; Stucco
Roofing: Composition; Metal
Floors: Concrete; Vinyl
Sale Includes: Land & Building; Laundry Equipment
Community Features: No Pool; Other
Exterior Amenities: Landscape Water System; Desert Landscaping; Partially Fenced; Patio/Balcony
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer
Heating: Individual
Cooling: Electric; Heat Pump; Individual
Water Source: City Franchise; Master Meter
Sewer: Sewer - Public; Sewer-In & Connected
Electric: APS
Gas: None
Parking Features: Carport; On Street; 1 Space/Unit; >1 Space Per Unit; Assigned
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Water; Sewer; Electricity; Trash Collection
Source of Fincl Data: Projected Proforma
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
New Financing: Conventional; No Carry; 1031 Exchange; Other (See Remarks)
Environmental: None
