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$699,000
Glendale, AZ 85301
MLS# 6678097
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Property Description
FANTASTIC LOCATION! Cash cow with long term tenants. Located within walking distance to Historic Glendale shopping and restaurant fare. Minutes on Grand Ave puts you in downtown Phoenix. Close to all Westgate amenities and spring training venues. Studio units sustainably developed with tile counter tops, tiled showers, tiled floors, with very little to replace. Each unit features a private courtyard patio. Units separately metered for APS. Value add propositions to include adding laundry and mini split systems. Some deferred maintenance is necessary which is reflected in the price.
Details
Maps
Contract Info
Current Price: $699,000
List Price: $699,000
Status: Active
List Date: 2024-03-15
Ownership: Fee Simple
Subagents: N
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
House Number: 5911
Compass: W
Street Name: LAMAR
St Suffix: Road
Unit #: 2
City/Town Code: Glendale
State/Province: AZ
Zip Code: 85301
Zip4: 3129
Country: USA
County Code: Maricopa
Legal Description (Abbrev): ORCHARD ADD AMD PLAT OF BLKS 1,2,3 & 4 PT LOT 2 BLK 38 W2 OF W2
Subdivision: ORCHARD ADD BLK 20-21-22, & 38-39-40 AMD
Assessor's Map #: 10
Assessor's Parcel #: 74
Add'l Parcels: Yes
Assessor Number: 144-10-074
Legal: ORCHARD ADD AMD PLAT OF BLKS 1,2,3 & 4 PT LOT 2 BLK 38 W2 OF W2
Census Tract: 92801
Tax Municipality: Glendale
Taxes: 594
Tax Year: 2023
Marketing Name: n/a
General Property Description
Lot Size Dimensions: 2250
Year Built: 1940
Uncvrd Parking Spcs: 6
Total # of Units: 6
# of Buildings: 3
Zoning: C2
Flood Zone: No
Elementary School District: Glendale Elementary District
High School District: Glendale Union High School District
Remarks & Misc
Cross Street: 59th Ave & Glendale Ave
Directions: One block South of Glendale Ave, turn right o Lamar Rd. Property is on the left.
Geo Lat: 33.536569
Geo Lon: -112.186866
Status Change Info
Status Change Date: 2024-04-16
Legal Info
Township: 2N
Range: 2E
Section: 7
Lot Number: 2
Income & Expenses
Annual Ins Exp: 2349
Annual Landscape Exp: 300
Annual Maint Exp: 500
Annual Wtr/Swr Exp: 2999.41
Owner Association: No
Operating Exp: 6742.41
Gross Annual Sch Inc: 69120
Adjusted Gross Inc: 69120
Totl Mnth Rntal Inc: 5760
Net Operating Income: 62377.59
Pmt & Rate Info
Cap Rate: 8.92
Down Payment %: 100
Equity: 699000
Showing Notification Methods
Showing Service: No Showing Service Used
Efficiency Units
# Efficiency Units: 6
Avg Rent: 960
Avg SqFt: 333
# Baths: 1
Property Features
Project Type: 5 - 12 Units
Construction: Block
Const - Finish: Painted; Stucco
Roofing: Rolled
Floors: Ceramic Tile
Sale Includes: Land & Building
Community Amenities: No Pool
Interior Amenities: Fire/Smoke Alarm(s)
Appliances Included: F/S Oven/Range; Refrigerator
Cooling: Window/Wall Unit
Water: City Franchise
Sewer: Sewer - Public
Electric: APS; Individual Meter
Gas: None
Parking: 1 Space/Unit
Roads/Streets: Asphalt
Owner Pays: Water; Landscaping
Tenant Pays: Electric; Cable TV
Source of Fincl Data: Provided by Owner
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 1st Ln Type: Not Applicable
Existing 1st Ln Trms: Not Applicable
Existing 2nd Loan: Other (See Remarks)
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Other (See Remarks)
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: VA; FHA; Conventional; No Carry
Reports/Disclosures: None
Environmental: None
Listing Office: Open House Realty
Last Updated: April - 19 - 2024
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