$2,224,000
$272K PRICE DROP

Estimated payment $12,653/month

Total Views 3,445
-- Bed
-- Bath
-- Sq Ft
-- Price per Sq Ft

Highlights

  • Wood Flooring
  • Cooling System Mounted To A Wall/Window
  • Ceiling Fan
  • Phoenix Coding Academy Rated A
  • Central Heating

About This Home

***VALUE ADD OPPORTUNITY-INVESTOR SPECIAL***. Acquire this multifamily property at the right price!! Single level casitas with private back yards and
hassle free landscaping. Additionally, there is great value add opportunity with improvements and rental
rate increases for a higher cash flow. ALL ROOFS HAVE BEEN REPLACED WITHIN THE LAST YEAR. PRICED TO SELL! ALL UNITS ARE 2X1 SINGLE LEVEL CASITAS WITH PRIVATE BACKYARDS!!

Listing Agent

Mike Atencio

Valley King Properties, LLC License #BR041070000

Co-Listing Agent

Jody Allen

Valley King Properties, LLC License #SA643121000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,879

Year Built

  • Built in 1946

Home Design

  • Wood Frame Construction
  • Composition Roof
  • Stucco

Interior Spaces

  • Ceiling Fan

Flooring

  • Wood
  • Ceramic Tile
  • Vinyl

Parking

  • 32 Open Parking Spaces
  • 32 Parking Spaces

Schools

  • Cesar E Chavez Community Elementary School
  • Percy L Julian Middle School
  • South Mountain High School

Utilities

  • Cooling System Mounted To A Wall/Window
  • Central Heating
  • Master Water Meter

Listing and Financial Details

  • Tax Lot 9
  • Assessor Parcel Number 113-11-029

Community Details

Overview

  • 12 Buildings
  • 16 Units
  • Building Dimensions are 49223
  • Jobe Tract Subdivision

Building Details

  • Operating Expense $31,641
  • Gross Income $97,798
  • Net Operating Income $128,618

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,879

Year Built

Built in 1946

Lot Details

0

Listing Details

  • Cross Street: 7Th Street AND Broadway
  • Legal Info Range: 3E
  • Property Type: Multiple Dwellings
  • Zoning: R34
  • Number Of Buildings: 12
  • Ownership: Fee Simple
  • Year Built: 1946
  • Tax Year: 2024
  • Directions: North on 7th street to Elwood Street. West on ElwoodStreet to 5th street. South on 5th Street to Illini Street. West on Illini Street to property on North side of the street
  • Road Surface Type: Asphalt
  • Co List Office Mls Id: vkps05
  • Co List Office Phone: 480-491-4300
  • Subdivision Name: JOBE TRACT
  • Cooling:Central Air: Yes
  • Roofing:Composition: Yes
  • Construction:Wood Frame: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Flooring: Ceramic Tile, Vinyl, Wood
  • Appliances: Free-Standing Range, Refrigerator
  • Appliances Included:FS OvenRange: Yes
  • Appliances Included:Refrigerator2: Yes

Exterior Features

  • Disclosures: None
  • Construction Type: Wood Frame, Painted, Stucco
  • Roof: Composition

Garage/Parking

  • Parking Features: Paved, Free, >1 Space Per Unit
  • Attached Garage: No
  • Open Parking Spaces: 32.0
  • Total Parking Spaces: 32.0
  • General Property Description:Uncvrd Parking Spcs: 32.0
  • General Property Description:Total Parking Spcs: 32.0
  • Parking Features:Paved2: Yes

Utilities

  • Electric: SRP
  • Cooling: Central Air, Ceiling Fan(s), Window/Wall Unit
  • Heating: Central, None
  • Cooling Y N: Yes
  • Heating Yn: No
  • Water Source: Master Meter, City Franchise
  • Heating:Central: Yes
  • Heating:None29: Yes

Condo/Co-op/Association

  • Community Features: No Pool

Association/Amenities

  • Interior Amenities:FireSmoke Alarm(s): Yes
  • Interior Amenities:Unfurnished: Yes

Fee Information

  • Annual Water Sewer Expense: 13826.02

Schools

  • Elementary School: Cesar E Chavez Community School
  • High School: South Mountain High School
  • Junior High Dist: Phoenix Union High School District
  • Middle Or Junior School: Percy L Julian School

Lot Info

  • Lot Size: 49223
  • Additional Parcels: No
  • Parcel #: 113-11-029

Multi Family

  • Owner Pays: See Remarks, Trash Collection, Water, Sewer
  • Number Of Units Total: 16
  • Electric Expense: 5540.09
  • Annual Gross Income: 97797.92
  • Insurance Expense: 9395.76
  • Property Net Operating Income: 128618.33
  • Annual Operating Expense: 31640.87
  • Vacancy Allowance Rate: 0.12

Tax Info

  • Tax Annual Amount: 2879.0
  • Tax Book Number: 113.00
  • Tax Lot: 9

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/07/2025 03/07/25 Price Changed $2,224,000 -10.9% --
01/24/2025 01/24/25 For Sale $2,496,000 +183.6% --
08/10/2018 08/10/18 Sold $880,000 -10.7% $1,956 / Sq Ft
07/07/2018 07/07/18 Price Changed $985,000 0.0% $2,189 / Sq Ft
06/19/2018 06/19/18 Pending -- -- --
05/19/2018 05/19/18 For Sale $985,000 +36.8% $2,189 / Sq Ft
12/06/2016 12/06/16 Sold $720,000 -0.7% $1,600 / Sq Ft
09/12/2016 09/12/16 For Sale $725,000 +45.0% $1,611 / Sq Ft
03/31/2016 03/31/16 Sold $500,000 -9.1% $1,111 / Sq Ft
03/07/2016 03/07/16 Pending -- -- --
11/12/2015 11/12/15 For Sale $550,000 +80.7% $1,222 / Sq Ft
07/02/2013 07/02/13 Sold $304,400 -17.3% $676 / Sq Ft
05/13/2013 05/13/13 Pending -- -- --
04/23/2013 04/23/13 For Sale $368,000 -- $818 / Sq Ft
Source: Arizona Regional Multiple Listing Service (ARMLS)

Source: Arizona Regional Multiple Listing Service (ARMLS)

MLS Number: 6810451

Arizona Regional Multiple Listing Service (ARMLS)