1753 E Harvard St Phoenix, AZ 85006
Greenfield Acres NeighborhoodHighlights
- Cooling Available
- Ceramic Tile Flooring
- Heat Pump System
- Phoenix Coding Academy Rated A
- Ceiling Fan
About This Home
As of September 2024**Investment Opportunity: Harvard - Prime Garden-Style Property**
Discover an exceptional investment opportunity with this meticulously maintained garden-style property located at 1753 to1757 E Harvard. This unique offering consists of 8 units spread across two contiguous fourplexes, strategically positioned on separate parcels. This configuration not only enhances the property's versatility but also allows for the flexibility of residential financing, making it an attractive option for investors who are looking to diversify their portfolio with a stable and reliable income stream. *Property Highlights:**
- **Year Built:** Constructed in 1984, this property boasts solid construction and a timeless design that appeals to a wide range of tenants. The thoughtful layout and quality materials used in its construction contribute to the property's longevity and ease of maintenance.
- **Unit Composition:** The property is fully occupied with 2-bedroom, 1-bath units, each featuring an additional office space or study room. This added feature is particularly appealing to professionals working from home, students, or families needing extra space, thus increasing tenant retention and reducing vacancy rates.
- **Exterior Features:** Each unit includes a generously sized front patio area, providing residents with private outdoor space ideal for relaxation or entertaining. The property also features expansive backyard areas that offer additional space for outdoor activities, gardening, or potential future development. Ample front parking ensures convenience for tenants and their guests, adding to the overall appeal of the property.
- **Utilities:** Each unit is individually metered for electricity, allowing tenants to manage their own utility usage. This setup not only simplifies management responsibilities but also reduces operating expenses for the owner.
- **Additional Income Potential:** The property includes owner-operated laundry facilities in each building, providing a steady additional revenue stream. Each unit is also equipped with its own storage room, offering tenants extra storage space, which is a highly desirable amenity that can justify higher rental rates.
**Value-Add Opportunity:**
For investors looking to increase the property's income potential, there is a light value-add opportunity available. By modernizing the interiors through selective remodels, such as upgrading kitchen and bathroom fixtures, flooring, and lighting, the property's rental appeal could be significantly enhanced. These improvements could justify rent increases, leading to a higher return on investment over time.
**Prime Location Benefits:**
- **Close Proximity to Phoenix Children's Hospital:** The property's location near Phoenix Children's Hospital makes it an ideal choice for families seeking convenient access to top-tier pediatric care. This proximity ensures a steady demand for rental units from medical professionals, hospital staff, and families with children receiving treatment.
- **Nearby Amenities:** The property is situated just minutes away from prestigious amenities like the Phoenix Country Club and Coronado Park. Residents can enjoy leisurely rounds of golf, engaging community events, and recreational activities in one of Phoenix's most beloved green spaces. The vibrant Downtown Phoenix area, with its eclectic mix of dining, shopping, and cultural attractions, is also within easy reach, offering residents a dynamic urban lifestyle.
- **Transportation Access:** Commuters will appreciate the property's easy access to the Route 51 Freeway, facilitating convenient travel throughout the Phoenix metropolitan area. Additionally, Phoenix Sky Harbor International Airport is just a short drive away, making it ideal for tenants who travel frequently for business or pleasure.
**Investment Appeal:**
This garden-style property presents a compelling investment opportunity with its attractive unit mix, desirable location, and potential for additional income through owner-operated facilities. The opportunity to increase rental income through strategic renovations adds further value, making this property a prudent choice for investors looking to expand their real estate portfolio with a well-positioned, income-generating asset.
**Please Note:** Buyers are advised to verify all facts and figures to ensure accuracy. Seller financing is not available for this property. Interior inspections will be conducted only after an accepted contract, to respect the privacy and comfort of the tenants. Interested parties are encouraged to drive by the property, but please do not disturb the tenants.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,676
Year Built
- Built in 1984
Lot Details
- Additional Parcels
Home Design
- Composition Roof
- Block Exterior
Interior Spaces
- Ceiling Fan
- Ceramic Tile Flooring
Parking
- 8 Open Parking Spaces
- 8 Parking Spaces
- On-Street Parking
Utilities
- Cooling Available
- Heat Pump System
- Individual Controls for Heating
Listing and Financial Details
- Tenant pays for electricity, cable TV
- The owner pays for trash collection, water, sewer, landscaping
- Tax Lot 47-48
- Assessor Parcel Number 117-06-069-J
Community Details
Overview
- 2 Buildings
- 8 Units
- Building Dimensions are Irr
Building Details
- Operating Expense $21,516
- Gross Income $140,456
- Net Operating Income $118,840
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 09/30/2024 09/30/24 | Sold | $1,550,000 | +100.0% | $598 / Sq Ft |
| 09/30/2024 09/30/24 | Sold | $775,000 | -51.4% | $299 / Sq Ft |
| 08/26/2024 08/26/24 | Pending | -- | -- | -- |
| 08/26/2024 08/26/24 | Pending | -- | -- | -- |
| 08/25/2024 08/25/24 | For Sale | $1,595,000 | +100.6% | $615 / Sq Ft |
| 08/23/2024 08/23/24 | For Sale | $795,000 | -- | $307 / Sq Ft |
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $1,301 | $10,006 | -- | -- |
| 2024 | $1,286 | $9,529 | -- | -- |
| 2023 | $1,286 | $42,660 | $8,530 | $34,130 |
| 2022 | $1,235 | $32,000 | $6,400 | $25,600 |
| 2021 | $1,265 | $23,620 | $4,720 | $18,900 |
| 2020 | $1,235 | $20,580 | $4,110 | $16,470 |
| 2019 | $1,226 | $18,070 | $3,610 | $14,460 |
| 2018 | $1,201 | $15,950 | $3,190 | $12,760 |
| 2017 | $1,154 | $14,560 | $2,910 | $11,650 |
| 2016 | $1,110 | $11,980 | $2,390 | $9,590 |
| 2015 | $1,032 | $10,410 | $2,080 | $8,330 |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $504,525 | New Conventional | |
| Previous Owner | $388,125 | New Conventional | |
| Previous Owner | $325,000 | Future Advance Clause Open End Mortgage | |
| Previous Owner | $100,000 | New Conventional | |
| Previous Owner | $97,367 | FHA | |
| Previous Owner | $246,000 | Stand Alone Refi Refinance Of Original Loan | |
| Previous Owner | $25,500 | Credit Line Revolving | |
| Previous Owner | $204,000 | New Conventional | |
| Previous Owner | $151,400 | New Conventional | |
| Previous Owner | $76,500 | No Value Available | |
| Previous Owner | $60,000 | New Conventional | |
| Previous Owner | $97,939 | Seller Take Back | |
| Closed | $10,100 | No Value Available | |
| Closed | $31,960 | No Value Available |
Deed History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $775,000 | Wfg National Title Insurance C | |
| Special Warranty Deed | -- | -- | |
| Warranty Deed | -- | Great American Ttl Agcy Inc | |
| Interfamily Deed Transfer | -- | Great American Ttl Agcy Inc | |
| Warranty Deed | $517,500 | Great American Ttl Agcy Inc | |
| Cash Sale Deed | $217,500 | Old Republic Title Agency | |
| Cash Sale Deed | $185,000 | Clear Title Agency Of Az | |
| Quit Claim Deed | -- | None Available | |
| Quit Claim Deed | -- | Title365 Agency | |
| Quit Claim Deed | -- | None Available | |
| Warranty Deed | $99,900 | Lawyers Title Of Arizona Inc | |
| Cash Sale Deed | $83,750 | Security Title Agency | |
| Trustee Deed | $116,600 | None Available | |
| Quit Claim Deed | -- | Dhi Title Of Arizona Inc | |
| Interfamily Deed Transfer | -- | Fidelity National Title | |
| Warranty Deed | $255,000 | Lawyers Title Ins | |
| Warranty Deed | $190,000 | Ticor Title Agency Of Az Inc | |
| Warranty Deed | $85,000 | Transnation Title Ins Co | |
| Interfamily Deed Transfer | -- | North American Title Agency | |
| Warranty Deed | $75,000 | North American Title Agency |
Source: Arizona Regional Multiple Listing Service (ARMLS)
MLS Number: 6748483
APN: 117-06-069J
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS
Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393
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