Ownership: Other (See Remarks)
Current Price: $4,582,890
Sold Price: $4,582,890
Status: Closed
List Date: 2016-11-15
Assessor's Map #: 40
Assessor's Parcel #: 20
Add'l Parcels: Yes
Tax Municipality: Thatcher
Taxes: 0
Legal: THAT PT OF NE4 NW4 NE4 SE4 14 T7S
R25E LYNG N OF N R/W LINE OF THE OLD GOLF COURSE ROAD and N 451.05' OF NE4 NW4 NE4
Marketing Name: 8th Street Apartments
Map Code/Grid: C74
House Number: 3333
Compass: W
Street Name: 8TH
St Suffix: Street
City/Town Code: Thatcher
State/Province: AZ
Zip Code: 85552
County Code: Graham
Subdivision: 2 parcels totaling 5.17 acres
Assessor Number: 104-40-020
Tax Year: 2015
# of Buildings: 11
Uncvrd Parking Spcs: 100
Lot Size Dimensions: 5.17 acres
Total # of Units: 93
Year Built: 1981
Zoning: C-M
51 - 99 Units: 1
Other (See Remarks): 1
House + Rental Units: 1
Packaged Offering: 1
Other (See Remarks): 1
Building(s) Only: 1
Land & Building: 1
Pool Equipment: 1
Laundry Equipment: 1
Other (See Remarks): 1
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: 0
Other Income: 0
Vacancy Allowance: 0.05
Adjusted Gross Inc: 777411.6
Cap Rate: 10.61
Down Payment: 0
Equity: 3500000
1st Encumbrance: 1300000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 1300000
Assessment Balance: 0
Heated Pool(s): 1
Heated Spa(s): 1
Sauna: 1
Manager Res/Office: 1
General Store: 1
Community Showers: 1
Clubhouse: 1
Exercise Room: 1
Play Area: 1
Sport Court: 1
Barbecue: 1
Other: 1
See Remarks: 1
Landscape Water System: 1
Desert Landscaping: 1
Partially Fenced: 1
Cable TV Available: 1
Patio/Balcony: 1
Built-In Range: 1
Refrigerator: 1
Owner: 1
Projected Proforma: 1
Books Shwn Accpt Ofr: 1
Other (See Remarks): 1
Carport: 1
<1 Space Per Unit: 1
Paved: 1
Add'l Parking Avail: 1
Assigned: 1
Conventional: 1
Other (See Remarks): 1
# Efficiency Units: 31
Avg Rent: 500
# Baths: 1
# 1 Bedroom Units: 23
Avg Rent: 700
# Baths: 1
# 2 Bedroom Units: 33
Avg Rent: 775
# Baths: 1
# 3 Bedroom Units: 1
Avg Rent: 1100
# Baths: 1
Loan Type: Conventional
Loan Years: 15
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Cross Street: : Route 70 and Reay Lane in Thatcher, Arizona
Directions: Proceed south on Reay Lane, turn left (east) on West 8th Street to property. Located 160 miles East of Phoenix on Route 70 in Thatcher near Safford in high sonoran desert & Mount Graham, Graham County
Geo Lat: 32.831381
Geo Lon: -109.755757
Off Market Date: 2017-11-10
Under Contract Date: 2017-07-19
Close of Escrow Date: 2017-11-09
Sold Price: $4,582,890
Lot Number: 104-40-020 & 38
Gross Annual Sch Inc: 818328
Net Operating Income: 509077
Project Type: 51 - 99 Units; Other (See Remarks)
Other Type: House + Rental Units; Packaged Offering; Other (See Remarks)
Construction: Block; Wood Frame
Const - Finish: Painted; Stucco
Roofing: Other
Floors: Other
Sale Includes: Building(s) Only; Land & Building; Pool Equipment; Laundry Equipment; Other (See Remarks)
Community Features: Heated Pool(s); Heated Spa(s); Sauna; Manager Res/Office; General Store; Community Showers; Clubhouse; Exercise Room; Play Area; Sport Court; Barbecue; Other; See Remarks
Exterior Amenities: Landscape Water System; Desert Landscaping; Partially Fenced; Cable TV Available; Patio/Balcony
Appliances Included: Built-In Range; Refrigerator
Heating: Central
Cooling: Electric
Water Source: Other; See Remarks
Sewer: Sewer - Public
Electric: Other (See Remarks)
Gas: None
Parking Features: Carport; <1 Space Per Unit; Add'l Parking Avail; Assigned; Paved
Owner Pays: Water
Tenant Pays: Other (See Remarks)
Source of Fincl Data: Owner; Projected Proforma; Books Shwn Accpt Ofr; Other (See Remarks)
Existing 1st Loan: Conventional
Existing 2nd Loan: Other (See Remarks)
Existing 3rd Loan: Other (See Remarks)
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional; Other (See Remarks)
Environmental: None
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