Ron helped me sell my Fourplex. He was very knowledgeable and involved every step of the way. I am a very hands on guy and Ron was one step ahead of me at every turn as he helped me sell my fourplex. Got the fourplex listed and closed in 15 days thanks to Ron’s contacts bringing in investors. I will be recommending him to my friends and family and look forward to working with him again in the future.
Jeremey Thompson
Investor / Phoenix
March 2020
$387,000
Phoenix, AZ 85032
MLS# 6037190
Status: Closed
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Property Description
Excellent North Phoenix Investment Opportunity located in the community of Palomino Point. This building contains the preferred mix of (ONE) 3 Bedroom/3 Bathroom, (TWO) 2 Bedroom/2 Bathroom and (ONE) 1 Bedroom/1 Bathroom units. Each unit has their own Washer and Dryer hookups, patio or balcony, and 1 assigned covered parking space. The HOA covers the water, sewer, garbage, common area maintenance, pool and street maintenance. Tenants pay electric/cable. Owner pays taxes & insurance. Below market rents allow for rent increases. 2 units are month to month and (ONE) 2 bed/2 bath is currently vacant allowing you to set market rent. Easy access to the 51 freeway, close to shopping, parks, and schools (Palomino School is across the street) DRIVE BY ONLY...DO NOT DISTURB TENANTS.
Details
Maps
Documents
Contract Info
Current Price: $387,000
Sold Price: $387,000
Status: Closed
List Date: 2020-02-14
Ownership: Fee Simple
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: L35
House Number: 2813
Compass: E
Street Name: PARADISE
St Suffix: Lane
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85032
Zip4: 3763
Country: USA
County Code: Maricopa
Building Number: 25
Subdivision: Greenway Manor
Assessor's Map #: 39
Assessor's Parcel #: 53
Add'l Parcels: No
Assessor Number: 214-39-053
Legal: LOT 25 GREENWAY MANOR LOT 1-72 TR A-E MCR 023347
Census Tract: 103306
Tax Municipality: Maricopa - COUNTY
Taxes: 1310
Tax Year: 2019
Marketing Name: Palomino Pointe
General Property Description
Lot Size Dimensions: 6589
Year Built: 1982
Uncvrd Parking Spcs: 4
Total # of Units: 4
# of Buildings: 1
Zoning: PAD-HD
Elementary School: Palomino Primary School
Jr. High School: Palomino Intermediate School
High School: Paradise Valley High School
Elementary School District: Paradise Valley Unified District
High School District: Paradise Valley Unified District
Remarks & Misc
Cross Street: Bell Rd & 29th St
Directions: South on 29th st, west on LE MARCHE AVE, west to 28th street (1ST street unmarked), north to Paradise Ln west to property.
Geo Lat: 33.633209
Geo Lon: -112.021501
Status Change Info
Status Change Date: 2020-02-29
Off Market Date: 2020-02-23
Under Contract Date: 2020-02-14
Close of Escrow Date: 2020-02-28
Sold Price: $387,000
Legal Info
Township: 3N
Range: 3E
Section: 2
Lot Number: 25
Income & Expenses
Annual Ins Exp: 902
Owner Association: Yes
Annual Ownr Asoc Fee: 8514
Operating Exp: 10726
Gross Annual Sch Inc: 35628
Vacancy Allowance: 0.02
Adjusted Gross Inc: 34915.44
Net Operating Income: 24189
Pmt & Rate Info
Cap Rate: 6.25
Equity: 387000
1 Bedroom Units
# 1 Bedroom Units: 1
Avg Rent: 700
Avg SqFt: 930
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 709.5
Avg SqFt: 1100
# Baths: 2
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 850
Avg SqFt: 1300
# Baths: 3
Sold Info
Loan Type: Cash
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession to Buyer: 2000
Seller Concession $/%: $
Property Features
Project Type: Four Plex
Construction: Frame - Wood
Const - Finish: Stucco
Roofing: Built-Up
Floors: Vinyl; Ceramic Tile; Carpet
Sale Includes: Building(s) Only
Community Amenities: Pool; Barbecue
Exterior Amenities: Desert Landscaping; Security Guard
Interior Amenities: Unfurnished
Appliances Included: BI Oven/Range; Refrigerator; Dishwasher; Disposal; W/D Hookup
Cooling: Central A/C
Water: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: None
Parking: 1 Space/Unit
Roads/Streets: Asphalt
Owner Pays: See Remarks
Tenant Pays: Electric; Cable TV
Source of Fincl Data: Provided by Owner
Showing Notification Methods: Phone Call
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: VA; FHA; Conventional
Reports/Disclosures: None
Environmental: None
HOA Disclosure/Addendum Listing Office: Metro Phoenix Homes, LLC
Last Updated: March - 05 - 2020
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Helped Me Sell My Fourplex review in March 2020
