3015 E PARADISE Lane, Phoenix, AZ 85032

$3,525,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $3,525,000 Last Modified: 6/12/2020

Description

Fully remodeled turnkey property! The Paradise Square Apartments is a fully renovated and modernized complex with an excellent unit mix of 40 large two-bed and 2 one-bed units in a prime high demand North Phoenix community. The complex consists of two separate properties adding additional value to the assets. All of the units have a back yard or a balcony. Remodeled to the 9's using on trend fixtures and decor. Amenities included gated access, pool, BBQ's outdoor seating and laundry for additional income. Tenants have easy access to Bell Road and the 51 freeway. Individually metered! Sale includes 3029 E Paradise.

More Information MLS# 5769191

Contract Info

Ownership: Fee Simple Current Price: $3,525,000 Sold Price: $3,525,000 Status: Closed List Date: 2018-05-21

Location, Tax & Legal

Assessor's Map #: 36 Legal Description (Abbrev): KAY ACRES 3 LOT 28 W 149.78' OF E 449.34' EX N 30' RD Assessor's Parcel #: 3 Assessor Parcel Ltr: E Add'l Parcels: No Tax Municipality: Phoenix Census Tract: 103304 Taxes: 15281 Legal: KAY ACRES 3 LOT 28 W 149.78' OF E 449.34' EX N 30' RD Marketing Name: Paradise Square Apartment Map Code/Grid: L35 House Number: 3015 Compass: E Street Name: PARADISE St Suffix: Lane City/Town Code: Phoenix State/Province: AZ Zip Code: 85032 Zip4: 8219 County Code: Maricopa Subdivision: KAY ACRES 3 LOTS 38-40, 42-45, 47-50 Assessor Number: 214-36-003-E Tax Year: 2017

General Property Description

# of Buildings: 4 Uncvrd Parking Spcs: 56 Lot Size Dimensions: UNK Total # of Units: 42 Elementary School District: Paradise Valley Unified District High School District: Paradise Valley Unified District Year Built: 1985 Zoning: R-3

Legal Info

Range: 3E Section: 2 Township: 3N Lot Number: 28

Project Type

25 - 50 Units: 1

Construction

Block: 1

Const - Finish

Stucco: 1

Roofing

Composition: 1

Floors

Ceramic Tile: 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: 15281 Other Income: 0 Vacancy Allowance: 0 Adjusted Gross Inc: 0

Pmt & Rate Info

Down Payment: 0 Equity: 3595000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0 Assessment Balance: 0

Community Features

Pool: 1

Heating

Electric: 1

Cooling

Central Air: 1

Tenant Pays

Electricity: 1

Appliances Included

Free-Standing Range: 1 Refrigerator: 1

Source of Fincl Data

Owner: 1

Water Source

City Franchise: 1

Sewer

Sewer - Public: 1

Parking Features

>1 Space Per Unit: 1 Paved: 1

Electric

APS: 1

Gas

SW Gas: 1

Owner Pays

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

New Financing

Other (See Remarks): 1

Existing 1st Loan

Other (See Rmks): 1

Existing 2nd Loan

Other (See Remarks): 1

Existing 3rd Loan

Other (See Remarks): 1

Reports/Disclosures

Other (See Remarks): 1

Environmental

Other (See Remarks): 1

Existing Othr Ln Trm

Not Applicable: 1

Efficiency Units

Avg Rent: 0

1 Bedroom Units

# 1 Bedroom Units: 2 Avg Rent: 650 Avg SqFt: 760 # Baths: 1

2 Bedroom Units

# 2 Bedroom Units: 40 Avg Rent: 750 Avg SqFt: 820 # Baths: 1

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Sold Info

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

Remarks Misc

Cross Street: Paradise Lane and 32nd Street Directions: West on Paradise to property on South Side of Street Geo Lat: 33.633034 Geo Lon: -112.016935

Status Change Info

Off Market Date: 2018-06-28 Under Contract Date: 2018-06-27 Close of Escrow Date: 2018-08-24 Sold Price: $3,525,000

Property Features

Project Type: 25 - 50 Units Construction: Block Const - Finish: Stucco Roofing: Composition Floors: Ceramic Tile Sale Includes: Land & Building Community Features: Pool Appliances Included: Free-Standing Range; Refrigerator Cooling: Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: >1 Space Per Unit; Paved Owner Pays: Water; Gas; Trash Collection; Landscaping Tenant Pays: Electricity Source of Fincl Data: Owner Existing 1st Loan: Other (See Rmks) Existing 2nd Loan: Other (See Remarks) Existing 3rd Loan: Other (See Remarks) Existing Othr Ln Trm: Not Applicable New Financing: Other (See Remarks) Environmental: Other (See Remarks)
Listing Office: GPCI AZ
IDX
Last Updated: June - 12 - 2020
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