Search Entire MLS By Map Or Your Own Search Criteria
$400,000
Apache Junction, AZ 85120
MLS# 6158352
Status: Closed
1 / 42
Property Description
Welcome to Grand View Apartments located in Apache Junction, with nice mountain views. This property features one studio currently collecting $575 and pro-forma $650. One bedroom one bathroom currently vacant and separate electric meter pro-forma $850. Two bedroom one bath unit currently vacant proforma $1,100 also separately metered for electric. Three bedroom one bath unit is currently at $975 pro-forma $1200-1400.
Details
Maps
Contract Info
Current Price: $400,000
Sold Price: $400,000
Status: Closed
List Date: 2020-11-02
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: R44
House Number: 225
Compass: S
Street Name: GRAND
St Suffix: Drive
City/Town Code: Apache Junction
State/Province: AZ
Zip Code: 85120
Zip4: 6503
Country: USA
County Code: Pinal
Legal Description (Abbrev): LOT 12 GRAND VIEW PLACE CAB 6 SLD 2
Subdivision: GRAND VIEW PLACE
Assessor's Map #: 10
Assessor's Parcel #: 121
Add'l Parcels: No
Assessor Number: 101-10-121
Legal: LOT 12 GRAND VIEW PLACE CAB 6 SLD 2
Census Tract: 312
Tax Municipality: Apache Junction
Taxes: 1389
Tax Year: 2020
Marketing Name: n/a
General Property Description
Lot Size Dimensions: 100x220
Year Built: 1954
Uncvrd Parking Spcs: 6
Total # of Units: 4
# of Buildings: 2
Zoning: CR3
Elementary School District: Apache Junction Unified District
High School District: Apache Junction Unified District
Remarks & Misc
Cross Street: Ironwood & Apache Trail
Directions: West on Apache Trail, South on Grand Dr. Property is on the left.
Geo Lat: 33.413288
Geo Lon: -111.569679
Status Change Info
Status Change Date: 2021-04-15
Off Market Date: 2021-04-15
Under Contract Date: 2021-03-02
Close of Escrow Date: 2021-04-15
Sold Price: $400,000
Legal Info
Township: 01N
Range: 08E
Section: 19
Lot Number: 12
Income & Expenses
Annual Elec Exp: 3500
Annual Ins Exp: 1600
Annual Maint Exp: 4000
Annual Mgmt Exp: 2400
Annual Trash Exp: 975
Annual Wtr/Swr Exp: 2400
Owner Association: No
Operating Exp: 16264
Gross Annual Sch Inc: 42000
Vacancy Allowance: 0.05
Adjusted Gross Inc: 39900
Totl Mnth Rntal Inc: 3500
Net Operating Income: 23636
Pmt & Rate Info
Cap Rate: 6.14
Equity: 385000
Efficiency Units
# Efficiency Units: 1
Avg Rent: 600
Avg SqFt: 350
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 1
Avg Rent: 800
Avg SqFt: 700
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 1000
Avg SqFt: 850
# Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 1100
Avg SqFt: 900
# Baths: 1
Sold Info
Loan Type: Other
Loan Years: 30
Payment Type: Other
Closing Cost Split: Seller Paid - S
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: Four Plex
Construction: Block; Frame - Wood
Const - Finish: Painted; Siding
Roofing: Comp Shingle
Floors: Concrete; Ceramic Tile
Sale Includes: Land & Building
Community Amenities: No Pool
Exterior Amenities: Partially Fenced; Separate Storage
Interior Amenities: Partially Furnished
Appliances Included: None
Heating: Window/Wall Unit(s)
Cooling: Window/Wall Unit; Central A/C
Water: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking: Street Parking; 1 Space/Unit; Add'l Parking Avail
Roads/Streets: Asphalt; Curb(s) & Gutter(s)
Owner Pays: Water; Electric; Trash Collection; See Remarks
Tenant Pays: Electric; Cable TV
Source of Fincl Data: Provided by Owner; Projected Proforma
Lockbox Type: None
New Financing: Conventional
Reports/Disclosures: None
Environmental: None
Supplements
Buildings are set up for central AC, but are currently using wall units. Rents are below market with room to increase and one unit is on a short term lease fully furnished. Tile floors throughout with new paint and other capital improvements made on the recently leased units. Current rents about a 5.78% cap and proforma cap is 6.24% once units are rents raised. Do not disturb tenants. Drive by only. All facts and figures are approximate buyer verify MLS information.
Listing Office: Venture REI, LLC
Last Updated: April - 15 - 2021
Copyright 2024 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.