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$231,000
Apache Junction, AZ 85119
MLS# 5575664
Status: Closed
1 / 6
Property Description
Fantastic location: 4-plex with large 2 bedroom units are easy to rent, with off street parking and fabulous floor plan with room for kitchen table. Fenced-in rear yards. You can’t beat the work that has gone into upgrades including: A/Cs, roofing, water heaters, refrigerators, various plumbing fixtures, mirror closet doors (unit #1), sewage lines, exterior window trim and lots of flooring. Separate W/D room now associated with unit #1, may be converted to a profit center, for all tenants. No showing of units without an accepted Contract, drive-by only. In May of ‘17 extensive work done to rehab and upgrade two units. Two exclusive lists of improvements in docs tab. As of 4/17 there was a waiting list for units.
Details
Maps
Contract Info
Current Price: $223,875
Sold Price: $223,875
Status: Closed
List Date: 2017-03-15
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: R44
House Number: 1417
Compass: E
Street Name: SOUTHERN
St Suffix: Avenue
City/Town Code: Apache Junction
State/Province: AZ
Zip Code: 85119
Zip4: 3800
Country: USA
County Code: Pinal
Legal Description (Abbrev): LOT 1755 PALM SPRINGS UNIT 15 MCR 00150008
Subdivision: PALM SPRINGS UNIT 15
Assessor's Map #: 27
Assessor's Parcel #: 254
Add'l Parcels: No
Assessor Number: 102-27-254
Legal: LOT 1755 PALM SPRINGS UNIT 15
Census Tract: 318
Tax Municipality: Pinal - COUNTY
Taxes: 1286
Tax Year: 2016
Marketing Name: Southern Ave 4-plex
General Property Description
Lot Size Dimensions: 90x109
Year Built: 1981
Uncvrd Parking Spcs: 8
Total # of Units: 4
# of Buildings: 1
Zoning: CR-3
Elementary School: Desert Vista Elementary School
Jr. High School: Cactus Canyon Junior High
High School: Apache Junction High School
Elementary School District: Apache Junction Unified District
High School District: Apache Junction Unified District
Remarks & Misc
Cross Street: Tomahawk & Southern
Directions: West on Southern to property.
Geo Lat: 33.393068
Geo Lon: -111.530538
Status Change Info
Status Change Date: 2017-07-21
Off Market Date: 2017-07-20
Under Contract Date: 2017-06-25
Close of Escrow Date: 2017-07-21
Sold Price: $223,875
Legal Info
Township: 01N
Range: 08E
Section: 33
Lot Number: 1755
Income & Expenses
Annual Elec Exp: 200
Annual Ins Exp: 1150
Annual Landscape Exp: 400
Annual Legal & Acctg: 200
Annual Maint Exp: 2140
Annual Trash Exp: 265
Annual Wtr/Swr Exp: 1150
Owner Association: No
Operating Exp: 6791
Gross Annual Sch Inc: 27480
Vacancy Allowance: 0.04
Adjusted Gross Inc: 26380.8
Totl Mnth Rntal Inc: 2290
Net Operating Income: 19589.8
Pmt & Rate Info
Cap Rate: 8.48
Equity: 231000
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 572.5
Avg SqFt: 820
# Baths: 1
Contact Info
List Agent Home Phn: 480-756-6324
Sold Info
Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: Four Plex
Construction: Frame - Wood
Const - Finish: Painted; Stucco
Roofing: Built-Up
Floors: Vinyl; Ceramic Tile; Carpet
Sale Includes: Land & Building
Community Amenities: Other; See Remarks
Exterior Amenities: Desert Landscaping; Partially Fenced; Cable TV Available; Security Light(s)
Interior Amenities: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds
Appliances Included: F/S Oven/Range; Refrigerator
Heating: Individual
Cooling: Ceiling Fan(s); Electric; Individual
Water: City Franchise; Master Meter
Sewer: Septic in & Cnctd
Electric: SRP; Individual Meter
Gas: None
Parking: >1 Space Per Unit; Free
Roads/Streets: Asphalt; Alley
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electric
Source of Fincl Data: Provided by Owner; Projected Proforma
Special: Owner/Agent; Accept Backups (CLO)
Existing 1st Loan: Conventional
Existing 1st Ln Type: Not Applicable
Existing 1st Ln Trms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional; 1031 Exchange
Reports/Disclosures: None
Environmental: None
Listing Office: Coldwell Banker Realty
Last Updated: July - 21 - 2017
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