4625-4631 N 12 Avenue, Phoenix, AZ 85013 (MLS# 22118541)

4625-4631 N 12 Avenue, Phoenix, AZ 85013

$1,600,000

Property Type: Commercial Square Footage: 5,624 Lot Size (sq. ft.): 93 Status: Closed

Current Price: $1,600,000 List Date: 10/06/2021 Last Modified: 12/14/2024

Overview

Description

Excellent investment opportunity located in the highly sought after area of Central Phoenix. This sale includes two building: 4625 & 4631 N 12th Ave. Both are separately parceled. APN#s 155-43-186A & 155-43-187A. Well maintained and been updated with major renovations this year. See document tab for list of all capital improvements done. One Large 3BR & 2BA unit and five 2BR & 2BA units. All units have private storage rooms & there is a 2 car garage for additional revenue. All 2BR rents are currently below market at $1100-$1165. 2 BR Market rents are $1,250-$1350 Buyer to verify all facts and figures.

Listing Details MLS# 22118541

Address Information

Street #: 4625-4631
Direction: N
Street Name: 12
Suffix: Avenue
State/Province: AZ
Zip Code: 85013
County: Maricopa
Country: USA

Location, Tax & Legal

Tax Code: 155-43-186A
Area: Maricopa
Tax Year: 2021
Taxes: 2767
Assessments: 0
Taxes For: Building & Land
Legal Description: Legal Description supplied by title to govern
Municipality/Zoning: Other - CALL
Fire Protection: Included in Taxes

General Property Information

Property Sub-Type: Apartment
Construction Status: Existing
# Units: 6
Total Parking: 8
Multi-Tenant: Yes
Year Built: 1961
Lot Dimensions: irr
Lot Acres: 0.42
Lot Sqft: 18200
Lot Size Source: Assessor
Combined SqFt: 5624
Source of SqFt: Assessor
List Price/SqFt: 302.28
Lot Size Price/SqFt: 93.41

Property Features

Property Features: Smoke Detector; Storage Construction: Concrete Block Roof: Shingle Fenced Storage: No Main Cooling: Ceiling Fan(s); Heat Pump Main Heating: Heat Pump Gas: None Sewer: Connected Water: Public Accessibility Option: None Security: Security Lights Fence: Wood Landscape - Front: Decorative Gravel; Shrubs; Sprinkler/Drip; Trees Landscape - Rear: Decorative Gravel; Desert Plantings; Trees Road Type: Chip/Seal Parking: Free; Parking Structure Lot Features: Adjacent to Alley; East/West Exposure Traffic Count: Unknown Terms: Cash; Conventional Possession: Recording Submit With Offer: Additional Addendum; Income Property Addendum; Lender Pre-Approval; Proof of Funds Property Disclosures: Addendum; Floor Plan; Inventory List; Lead Based Paint; Leases; Marketing Package Available; Plat Map; Seller Prop Disclosure Special Conditions: None

Contract Information

Method of Title: Fee (Simple)
Short Sale: No

Status Change Info

Off Market Date: 2021-10-08
Pending Date: 2021-10-08
Sold Date: 2021-12-06
Sold Price/SqFt: 284.5
Lot Sz Sold Prc/SqFt: 87.91
Financing: Conventional

More Information

Showing Information

Directions: 11 Ave and Camelback Turn South to Highland. Turn West and go to 12 Ave. Turn South and the property is on the East side of the street.

Income

Gross Scheduled Rent: 90240
Vacancy Loss: 2707
Other Income: 650
Adjusted Gross: 88183
Net Opp Income: 88183

Analysis

Cap Rate %: 3.92
Gross Rent Multi: 18.14
Vacancy Rate %: 3

Expenses

Contract Services: 1200
Figures Presented: Actual
Insurance: 3155
Maintenance Supplies: 3955
Resident Manager: 7055
Taxes/Assessments: 2697
Water/Sewer: 3544

Unit Information

Apartment: Low Rise

Apartment Unit Information

# of Units/2 BR: 5
Avg Mo Rent/2 BR: 1000
# of Units/3 BR: Yes
Avg Mo Rent/3 BR: 1695

Water Heater

None: none

Electric

Electric Company: APS
Master Meter: No

Landscape - Rear

Other: Artificial Grass
Decorative Gravel: Yes
Desert Plantings: Yes
Trees: Yes

Parking

# Covered Parking: 6
Free: Yes
Parking Structure: Yes

Submit With Offer

Seller Title Company: Empire West Title
Additional Addendum: Yes
Income Property Addendum: Yes
Lender Pre-Approval: Yes
Proof of Funds: Yes

Sold Info

Est. Closing Date: 2021-12-06
Seller Concessions: 0

Gas

None: Yes

Construction

Concrete Block: Yes

Sewer

Connected: Yes

Roof

Shingle: Yes

Water

Public: Yes

Property Features

Smoke Detector: Yes
Storage: Yes

Fence

Wood: Yes

Road Type

Chip/Seal: Yes

Fenced Storage

No: Yes

Lot Features

Adjacent to Alley: Yes
East/West Exposure: Yes

Main Cooling

Ceiling Fan(s): Yes
Heat Pump: Yes

Main Heating

Heat Pump: Yes

Terms

Cash: Yes
Conventional: Yes

Accessibility Option

None: Yes

Security

Security Lights: Yes

Landscape - Front

Decorative Gravel: Yes
Shrubs: Yes
Sprinkler/Drip: Yes
Trees: Yes

Freeway/Highway

2.1 - 5 Mile: Yes

Traffic Count

Unknown: Yes

Possession

Recording: Yes

Property Disclosures

Addendum: Yes
Floor Plan: Yes
Inventory List: Yes
Lead Based Paint: Yes
Leases: Yes
Marketing Package Available: Yes
Plat Map: Yes
Seller Prop Disclosure: Yes

Special Conditions

None: Yes

Listing Office: Gerchick Real Estate

Last Updated: December - 14 - 2024

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