3208 E FLOWER Street, Phoenix, AZ 85018

$3,750,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $3,750,000 Last Modified: 8/23/2023

Description

Flower 22 is a turn-key, fully renovated 22-unit community consisting of (14) two-bedroom / two-bathroom units and (8) one-bedroom / one-bathroom units. Each spacious unit is appointed with modern finishes which include new cabinets, counters, flooring, and appliances. Each unit is individually metered for electricity and enjoys an interior washer and dryer. The property recently received new roofs, landscaping, exterior paint and a resurfaced parking lot. Flower 22 is conveniently located near the Biltmore, Phoenix Sky Harbor International Airport and all the employment, shopping and dining located on 24th & Camelback.

More Information MLS# 6022435

Contract Info

Ownership: Fee Simple Current Price: $3,750,000 Sold Price: $3,750,000 Status: Closed List Date: 2020-01-10

Location, Tax & Legal

Assessor's Map #: 32 Legal Description (Abbrev): VALENCIA AC LOT 8 EX W 200' .70 AC Assessor's Parcel #: 20 Add'l Parcels: No Tax Municipality: Phoenix Census Tract: 110901 Taxes: 12356 Legal: VALENCIA AC LOT 8 EX W 200' .70 AC Marketing Name: Flower 22 Map Code/Grid: P35 House Number: 3208 Compass: E Street Name: FLOWER St Suffix: Street City/Town Code: Phoenix State/Province: AZ Zip Code: 85018 Zip4: 6271 County Code: Maricopa Subdivision: VALENCIA ACRES Assessor Number: 127-32-020 Tax Year: 2019

General Property Description

# of Buildings: 2 Uncvrd Parking Spcs: 25 Lot Size Dimensions: unknown Total # of Units: 22 Elementary School District: Creighton Elementary District High School District: Phoenix Union High School District Year Built: 1986 Zoning: R-4

Legal Info

Range: 3E Section: 25 Township: 2N Lot Number: 8

Project Type

13 - 24 Units: 1

Construction

Wood Frame: 1

Const - Finish

Stucco: 1

Roofing

Composition: 1

Floors

Vinyl: 1

Sale Includes

Land & Building: 1

Income & Expenses

Annual Elec Exp: 3000 Annual Gas Exp: 0 Annual Ins Exp: 4400 Annual Land Lse Exp: 0 Annual Landscape Exp: 1800 Annual Legal & Acctg: 0 Annual Maint Exp: 7700 Annual Mgmt Exp: 16364 Annual Trash Exp: 2750 Annual Wtr/Swr Exp: 7000 Owner Association: No Annual Ownr Asoc Fee: 0 Annual PAD Fee: 0 Annual Rplcmnt Rsrvs: 5500 Annual Other Expense: 7230 Operating Exp: 68100 Other Income: 15950 Vacancy Allowance: 0.05 Adjusted Gross Inc: 326486.5

Pmt & Rate Info

Cap Rate: 6.71 Down Payment: 1188000 Equity: 3860000 Down Payment %: 30 Monthly Payments: 12995.33 Total Owed: 0 Assessment Balance: 0

Showing Notification Methods

Email: 1

Lockbox Type

None: 1

Community Features

Pool: 1

Heating

Other: 1 See Remarks: 1

Cooling

Other: 1 See Remarks: 1

Exterior Amenities

Guard Gate: 1

Tenant Pays

Electricity: 1

Appliances Included

Free-Standing Range: 1 Refrigerator: 1 Dishwasher: 1 Disposal: 1 Microwave: 1 Washer/Dryer: 1

Source of Fincl Data

Owner: 1

Water Source

City Franchise: 1

Sewer

Sewer - Public: 1

Parking Features

>1 Space Per Unit: 1

Electric

Other (See Remarks): 1

Gas

Other (See Remarks): 1

Owner Pays

Water: 1 Sewer: 1 Trash Collection: 1 Other: 1 See Remarks: 1

New Financing

Conventional: 1 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

None: 1

Existing Othr Ln Trm

Other (See Remarks): 1

Efficiency Units

Avg Rent: 0

1 Bedroom Units

# 1 Bedroom Units: 8 Avg Rent: 1095 Avg SqFt: 625 # Baths: 1

2 Bedroom Units

# 2 Bedroom Units: 14 Avg Rent: 1325 Avg SqFt: 745 # Baths: 1

3 Bedrooms Units

Avg Rent: 0

4 Bedrooms Units

Avg Rent: 0

Sold Info

Loan Type: Conventional Loan Years: 25 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: 32nd Street & Indian School Directions: South to Flower and East to Property. Geo Lat: 33.486514 Geo Lon: -112.012012

Status Change Info

Off Market Date: 2020-01-28 Under Contract Date: 2020-01-24 Close of Escrow Date: 2020-05-07 Sold Price: $3,750,000

Income Expenses

Gross Annual Sch Inc: 327720 Net Operating Income: 259184

Property Features

Project Type: 13 - 24 Units Construction: Wood Frame Const - Finish: Stucco Roofing: Composition Floors: Vinyl Sale Includes: Land & Building Community Features: Pool Exterior Amenities: Guard Gate Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer Heating: Other; See Remarks Cooling: Other; See Remarks Water Source: City Franchise Sewer: Sewer - Public Electric: Other (See Remarks) Gas: Other (See Remarks) Parking Features: >1 Space Per Unit Owner Pays: Water; Trash Collection; Other; See Remarks Tenant Pays: Electricity Source of Fincl Data: Owner Showing Notification Methods: Email Lockbox Type: None Existing 1st Loan: Other (See Rmks) Existing 2nd Loan: Other (See Remarks) Existing 3rd Loan: Other (See Remarks) Existing Othr Ln Trm: Other (See Remarks) New Financing: Conventional; Other (See Remarks) Environmental: None
Listing Office: ABI Multifamily
IDX
Last Updated: August - 23 - 2023
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