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$1,750,000
Glendale, AZ 85301
MLS# 6687609
1 / 30
Property Description
This offering is a 10-unit/four parcel assemblage (sold together only). Long-term owner, self-manages. Attractive Seller Financing is available with 30% down. Near Historic Downtown Glendale on a well-kept residential block. All m-t-m leases. 60% of the units have recent upgrades. The combined sf of the units is about 8700 total sf or $201/sf. The unit mix over nine buildings consists of: (1) 4 bed/2 bath house; (3) 3 bed/1 bath houses; (1) 2 bed/1 bath houses; (4) 1 bed/1 bath units; & (1) Studio unit. Expenses are low. The total utility bill cost is $300/m for w/s/t, electric. Proforma/market rents are about $12,800/month. 7+ CAP after finishing the value-add/maximizing rents. Flexibility to upgrade/sell off each parcel or hold long-term as a package. Buyer to complete/rely on own DD.
Details
Maps
Contract Info
Current Price: $1,750,000
List Price: $1,750,000
Status: Active
List Date: 2024-04-04
Ownership: Fee Simple
Subagents: N
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
House Number: 6733
Compass: N
Street Name: 54TH
St Suffix: Avenue
City/Town Code: Glendale
State/Province: AZ
Zip Code: 85301
Zip4: 3319
Country: USA
County Code: Maricopa
Legal Description (Abbrev): SUGAR ADD
Subdivision: SUGAR ADD BLKS 1-6, 13, 14
Assessor's Map #: 5
Assessor's Parcel #: 119
Add'l Parcels: Yes
Assessor Number: 146-05-119
Legal: SUGAR ADD 1-6, 13, 14
Census Tract: 92900
Tax Municipality: Glendale
Taxes: 3721
Tax Year: 2023
Marketing Name: 10 Unit Glendale SCB
General Property Description
Lot Size Dimensions: 28000 sf
Year Built: 1945
Uncvrd Parking Spcs: 16
Total # of Units: 10
# of Buildings: 9
Zoning: R-3
Flood Zone: No
Elementary School District: Glendale Elementary District
High School District: Glendale Union High School District
Remarks & Misc
Cross Street: Glendale and 54th Ave
Directions: Just a few blocks SE of Historic Downtown Glendale. Grand to 53rd Ave north to Lamar to the property.
Geo Lat: 33.536206
Geo Lon: -112.174579
Status Change Info
Status Change Date: 2024-05-09
Legal Info
Township: 2N
Range: 2E
Section: 8
Lot Number: 16
Income & Expenses
Annual Elec Exp: 1400
Annual Ins Exp: 2500
Annual Landscape Exp: 1000
Annual Maint Exp: 6000
Annual Wtr/Swr Exp: 2400
Owner Association: No
Annual Rplcmnt Rsrvs: 10000
Operating Exp: 27021
Gross Annual Sch Inc: 153600
Other Income: 4800
Vacancy Allowance: 0.05
Adjusted Gross Inc: 150480
Totl Mnth Rntal Inc: 12800
Net Operating Income: 123459
Pmt & Rate Info
Cap Rate: 7.05
Equity: 1750000
Showing Notification Methods
Showing Service: No Showing Service Used
Efficiency Units
# Efficiency Units: 1
Avg SqFt: 400
# Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 4
Avg SqFt: 625
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 1
Avg SqFt: 800
# Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 3
Avg SqFt: 1167
# Baths: 1
4 Bedrooms Units
# 4 Bedroom Units: 1
Avg SqFt: 1500
# Baths: 2
Property Features
Project Type: 5 - 12 Units
Other Type: House + Rental Units; Packaged Offering; Other (See Remarks)
Construction: Block; Frame - Wood; Adobe
Const - Finish: Painted; Stucco; Other (See Remarks)
Roofing: Comp Shingle; Rolled; Metal
Floors: Vinyl; Wood; Ceramic Tile; Carpet
Sale Includes: Land & Building; Other (See Remarks)
Community Amenities: No Pool; See Remarks
Exterior Amenities: Desert Landscaping; Fenced; Cable TV Available; TV Antenna; Separate Storage
Interior Amenities: Unfurnished; Mini Blinds; Drapes; Other (See Remarks)
Appliances Included: BI Oven/Range; F/S Oven/Range; Refrigerator; Disposal; Microwave; W/D Hookup; Other (See Remarks)
Heating: Natural Gas; Heat Pump; Window/Wall Unit(s); Other; See Remarks
Cooling: Electric; Heat Pump; Window/Wall Unit; Other; See Remarks
Water: City Franchise; Master Meter; See Remarks
Sewer: Sewer - Public; Sewer-In & Connected
Electric: APS; Individual Meter; Other (See Remarks)
Gas: SW Gas; Individual Meter; Other (See Remarks)
Parking: Carport; Street Parking; >1 Space Per Unit; Free; Other (See Remarks)
Roads/Streets: Asphalt; Dedicated Street; Curb(s) & Gutter(s); Sidewalk(s); Alley
Owner Pays: Water; Trash Collection; Other; See Remarks
Tenant Pays: Electric; Cable TV; Other (See Remarks)
Source of Fincl Data: Provided by Owner; Projected Proforma; Other (See Remarks)
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: 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: Cash; Conventional; Seller May Carry; Other (See Remarks)
Reports/Disclosures: None
Environmental: None
Listing Office: Better Homes & Gardens Real Estate SJ Fowler
Last Updated: May - 09 - 2024
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