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$895,000
Avondale, AZ 85323
MLS# 6584389
1 / 41
Property Description
Fully leased out. This is a 5-unit apartment community with 2 buildings located in Avondale, just 1 mile south of I-10 & Dysart. Walking distance to old town Avondale. Renovated in 2022, 231 1st Street is comprised of 2 two-bedroom units and 3 one-bedroom units ranging from 550 - 1,050 square feet in 2 separate buildings. Entire community's exterior has been renovated with new paint, new landscaping, roof replacement and HVAC servicing, along with each unit's interior receiving premium finishes including quarts countertops, new cabinets, and wood-style flooring. On site laundry. More than ample parking available for each unit.
Details
Maps
Contract Info
Current Price: $895,000
List Price: $895,000
Status: Active
List Date: 2023-07-24
Ownership: Fee Simple
Subagents: N
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
House Number: 231
Compass: S
Street Name: 1ST
St Suffix: Street
City/Town Code: Avondale
State/Province: AZ
Zip Code: 85323
Zip4: 2358
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LITCHFIELD HTS N 60' OF W 195' LOT 10 BLK 2
Subdivision: LITCHFIELD HEIGHTS
Assessor's Map #: 44
Assessor's Parcel #: 99
Assessor Parcel Ltr: D
Add'l Parcels: No
Assessor Number: 500-44-099-D
Legal: LITCHFIELD HTS N 60' OF W 195' LOT 10 BLK 2
Census Tract: 61401
Tax Municipality: Avondale
Taxes: 767
Tax Year: 2022
Marketing Name: 231 1ST STREET - 5 Units
General Property Description
Lot Size Dimensions: 60' x 195'
Year Built: 1955
Uncvrd Parking Spcs: 6
Total # of Units: 5
# of Buildings: 2
Zoning: R-3
Flood Zone: No
Elementary School: Eliseo C. Felix School
Jr. High School: Avondale Middle School
High School: Agua Fria High School
Elementary School District: Avondale Elementary District
High School District: Agua Fria Union High School District
Remarks & Misc
Cross Street: DYSART & I-10
Directions: GPS AND NAVIGATION FRIENDLY
Geo Lat: 33.432535
Geo Lon: -112.348096
Status Change Info
Status Change Date: 2023-07-25
Legal Info
Township: 1N
Range: 1W
Section: 15
Block: 2
Lot Number: 10
Income & Expenses
Annual Elec Exp: 1800
Annual Gas Exp: 360
Annual Ins Exp: 1200
Annual Landscape Exp: 1200
Annual Maint Exp: 2100
Annual Mgmt Exp: 4500
Annual Wtr/Swr Exp: 820
Owner Association: No
Operating Exp: 12747
Gross Annual Sch Inc: 77220
Adjusted Gross Inc: 77220
Totl Mnth Rntal Inc: 6435
Net Operating Income: 62667
Pmt & Rate Info
Cap Rate: 6.96
Equity: 900000
1 Bedroom Units
# 1 Bedroom Units: 3
Avg Rent: 1165
Avg SqFt: 550
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 1395
Avg SqFt: 1050
# Baths: 1
Property Features
Project Type: 5 - 12 Units
Construction: Block; Frame - Wood
Const - Finish: Painted; Stucco
Roofing: Comp Shingle; Rolled
Floors: Vinyl
Sale Includes: Land & Building; Laundry Equipment
Community Amenities: No Pool
Exterior Amenities: Desert Landscaping; Cable TV Available; Patio/Balcony; Separate Storage
Interior Amenities: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds
Appliances Included: F/S Oven/Range; Refrigerator; Dishwasher; Disposal; Microwave
Cooling: Ceiling Fan(s); Electric; Central A/C
Water: City Franchise; Master Meter
Sewer: Sewer - Public; Sewer-In & Connected
Electric: APS; Individual Meter
Gas: SW Gas; Individual Meter
Parking: Carport; >1 Space Per Unit; Paved Parking
Roads/Streets: Asphalt
Owner Pays: Water; Electric; Trash Collection; Landscaping; Other; See Remarks
Tenant Pays: Water; Sewer; Electric; Trash; Other (See Remarks)
Source of Fincl Data: Provided by Owner
Showing Notification Methods: Phone Call
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
New Financing: Conventional; No Carry; 1031 Exchange
Reports/Disclosures: Seller Prop Disc Stm
Environmental: None
Listing Office: E & G Real Estate Services
Last Updated: February - 17 - 2024
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