2939 N 36TH Street, Phoenix, AZ 85018

$4,800,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $4,800,000 Last Modified: 5/16/2025

Description

Originally built in 1981, Avanti Estates has recently undergone extensive improvements including a new roof, resurfaced pool. 90% of the units have been updated with new flooring, appliances, bathrooms and cabinets. The addition of covered parking has allowed for additional income. 85% of the units have received new air conditioning units. The current management is in the process of turning the water, sewer, and trash over to the tenant allowing for a potential gain of 24K a year in profit. All of Avanti Estate units are metered individually for electric. With a sales price of $5, 500,000, averaging $183,000 per unit, Avanti Estates is an outstanding opportunity for investors. *Seller may carry with the right offer.

More Information MLS# 6533594

Contract Info

Ownership: Fee Simple Current Price: $4,800,000 Sold Price: $4,800,000 Status: Closed List Date: 2023-03-20

Location, Tax & Legal

Assessor's Map #: 22 Legal Description (Abbrev): LOT 9 CITRUS ACRES LOTS 21-60 MCR 001729 Assessor's Parcel #: 11 Assessor Parcel Ltr: A Add'l Parcels: No Tax Municipality: Phoenix Census Tract: 110902 Taxes: 13503 Legal: CITRUS ACRES MCR 17/29 LOT 9 EX N 16F Marketing Name: Avanti Map Code/Grid: P35 House Number: 2939 Compass: N Street Name: 36TH St Suffix: Street City/Town Code: Phoenix State/Province: AZ Zip Code: 85018 Zip4: 7456 County Code: Maricopa Subdivision: CITRUS ACRES LOTS 21-60 Assessor Number: 127-22-011-A Tax Year: 2022

General Property Description

# of Buildings: 2 Uncvrd Parking Spcs: 27 Lot Size Dimensions: 20868 Flood Zone: No Total # of Units: 30 Elementary School District: Phoenix Elementary District High School District: Phoenix Union High School District Elementary School: Creighton Elementary School Jr. High School: Creighton Elementary School High School: Camelback High School Year Built: 1981 Zoning: R4A

Legal Info

Range: 3E Section: 25 Township: 2N Lot Number: 9

Project Type

25 - 50 Units: 1

Construction

Block: 1

Const - Finish

Painted: 1

Roofing

Foam: 1

Floors

Concrete: 1 Carpet: 1

Sale Includes

Land & Building: 1

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: 13503 Other Income: 0 Vacancy Allowance: 0 Adjusted Gross Inc: 0

Pmt & Rate Info

Down Payment: 0 Equity: 5500000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0 Assessment Balance: 0

Showing Notification Methods

Phone Call: 1

Lockbox Type

None: 1

Community Features

No Pool: 1

Heating

Electric: 1

Cooling

Electric: 1 Individual: 1

Exterior Amenities

Desert Landscaping: 1

Tenant Pays

Electricity: 1 Cable TV: 1

Appliances Included

Built-In Range: 1

Source of Fincl Data

Owner: 1

Water Source

City Franchise: 1

Sewer

Sewer - Public: 1

Parking Features

1 Space/Unit: 1

Electric

SRP: 1 Individual Meter: 1

Gas

None: 1

Owner Pays

Water: 1 Sewer: 1 Trash Collection: 1 Landscaping: 1

New Financing

Cash to Loan: 1 Conventional: 1

Existing 1st Loan

Treat as Free&Clear: 1

Existing 2nd Loan

Treat as Free&Clear: 1

Existing 3rd Loan

Treat as Free&Clear: 1

Reports/Disclosures

None: 1

Environmental

None: 1

Existing Othr Ln Trm

Not Applicable: 1

Contact Info

List Agent Home Phn: 602-882-3388

Efficiency Units

Avg Rent: 0

1 Bedroom Units

# 1 Bedroom Units: 28 Avg Rent: 675 Avg SqFt: 550 # Baths: 1

2 Bedroom Units

# 2 Bedroom Units: 2 Avg Rent: 850 Avg SqFt: 700 # Baths: 1

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Sold Info

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 $/%: $

Remarks Misc

Cross Street: 36th Street and Osborn Directions: Just north of Thomas on 36th Street. Property on the east side of the street Geo Lat: 33.482069 Geo Lon: -112.003606

Status Change Info

Off Market Date: 2023-05-29 Under Contract Date: 2023-03-28 Close of Escrow Date: 2023-07-03 Sold Price: $4,800,000

Property Features

Project Type: 25 - 50 Units Construction: Block Const - Finish: Painted Roofing: Foam Floors: Concrete; Carpet Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Desert Landscaping Appliances Included: Built-In Range Cooling: Electric; Individual Water Source: City Franchise Sewer: Sewer - Public Electric: SRP; Individual Meter Gas: None Parking Features: 1 Space/Unit Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity; Cable TV Source of Fincl Data: Owner Showing Notification Methods: Phone Call Lockbox Type: None Existing 1st Loan: Treat as Free&Clear Existing 2nd Loan: Treat as Free&Clear Existing 3rd Loan: Treat as Free&Clear Existing Othr Ln Trm: Not Applicable New Financing: Cash to Loan; Conventional Environmental: None

Documents

View Document Brochure ›
Listing Office: DeLex Realty
IDX
Last Updated: May - 16 - 2025
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