$1,150,000
Phoenix, AZ 85013
MLS# 4981208
Status: Closed
1 / 16
Property Description
FULLY RENOVATED 14 UNIT COMPLEX IN HISTORIC PALM SPRINGS LIKE NEIGHBORHOOD, WALK TO LIGHT RAIL STATION, POSTINO'S WINDSOR, AJ'S, FEDERAL PIZZA AND THE RENOVATED BEEFEATER SITE. AVG 1,070 SF AND ARE 2 AND 3 BEDROOMS. 12 OF 14 UNITS HAVE 2 BATHROOMS. NEW ROOF COATING WITH 4 YEAR WARRANTY, 10 NEWER A/C'S, POOL 100% REPLUMBED, COVERED PARKING. NEW COUNTERTOPS, VINYL PLANK FLOORING THROUGHOUT UNIT,BERBER CARPET IN BEDROOMS, FIXTURES, NEW PAINT, TILE BACKSPLASHES. A RARE OPPORTUNITY TO BUY AN AMAZING NEIGHBORHOOD WITH POTENTIAL FOR CONDO CONVERSION AND ADDING WASHERS/DRYERS. INDIVIDUALLY METERED FOR ELEC/GAS. LAUNDRY EQUIPMENT OWNED AND TENANTS PAY EXTRA FOR S/W/T.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $1,150,000
Sold Price: $1,150,000
Status: Closed
List Date: 2013-08-09
Location, Tax & Legal
Assessor's Map #: 26
Legal Description (Abbrev): BECKER ADD TO ORANGEWOOD
Assessor's Parcel #: 29
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 107500
Taxes: 7496
Legal: BECKERS ADD TO ORANGEWOOD
Marketing Name: Estates at Midtown
Map Code/Grid: N34
House Number: 310
Compass: W
Street Name: MEDLOCK
St Suffix: Drive
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85013
Zip4: 2313
County Code: Maricopa
Assessor Number: 162-26-029
Tax Year: 2012
General Property Description
# of Buildings: 3
Uncvrd Parking Spcs: 5
Lot Size Dimensions: 18060 sf
Total # of Units: 14
High School District: Phoenix Union High School District
Year Built: 1964
Zoning: R4
Legal Info
Range: 3E
Section: 17
Township: 2N
Lot Number: 10
Project Type
13 - 24 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Foam: 1
Floors
Concrete: 1
Vinyl: 1
Carpet: 1
Sale Includes
Building(s) Only: 1
Land & Building: 1
Pool Equipment: 1
Laundry Equipment: 1
Income & Expenses
Annual Elec Exp: 3000
Annual Gas Exp: 1200
Annual Ins Exp: 2500
Annual Land Lse Exp: 0
Annual Landscape Exp: 3600
Annual Legal & Acctg: 500
Annual Maint Exp: 7000
Annual Mgmt Exp: 6000
Annual Trash Exp: 750
Annual Wtr/Swr Exp: 10000
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 3000
Annual Other Expense: 0
Operating Exp: 45046
Other Income: 2500
Vacancy Allowance: 0.06
Adjusted Gross Inc: 2350
Total Monthly Rental Income: 10500
Pmt & Rate Info
Cap Rate: 6.72
Down Payment: 0
Equity: 357000
1st Encumbrance: 833000
Down Payment %: 0
Monthly Payments: 0
1st Interest Rate: 5
Total Owed: 833000
Assessment Balance: 0
Payment Includes
Principal: 1
Interest: 1
Community Features
Pool: 1
Barbecue: 1
Heating
Electric: 1
Cooling
Individual: 1
Exterior Amenities
Landscape Water System: 1
Green Landscaping: 1
Fenced: 1
Cable TV Available: 1
Patio/Balcony: 1
Interior Features
Fire/Smoke Alarm(s): 1
Vertical Blinds: 1
Tenant Pays
Gas: 1
Water: 1
Sewer: 1
Electricity: 1
Trash Collection: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Refrigerator: 1
Free-Standing Range: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
On Street: 1
1 Space/Unit: 1
Assigned: 1
Electric
APS: 1
Individual Meter: 1
Gas
SW Gas: 1
Individual Meter: 1
Owner Pays
Landscaping: 1
Pool Maintenance: 1
New Financing
Conventional: 1
FHA: 1
Owner May Carry: 1
1031 Exchange: 1
Special
Owner/Agent: 1
Existing 1st Loan
Conventional: 1
Existing 1st Loan Type
Fixed: 1
Existing 1st Loan Terms
Non Assumable: 1
Existing 2nd Loan
Other (See Remarks): 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Other (See Remarks): 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Contact Info
List Agent Home Phn: 480-907-4010
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 12
Avg Rent: 799
Avg SqFt: 1036
# Baths: 2
3 Bedrooms Units
# 3 Bedroom Units: 2
Avg Rent: 925
Avg SqFt: 1290
# Baths: 2
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Loan Years: 3
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 50
Buyer Concession $/%: %
Seller Concession to Buyer: 50
Seller Concession $/%: %
Remarks Misc
Cross Street: 3RD AVENUE & MEDLOCK (NORTH OF CAMELBACK)
Directions: NORTH ON 3RD AVENUE FROM CAMELBACK. WEST ON MEDLOCK DR. PROPERTY IS ON NORTH SIDE OF STREET BEFORE END OF CULDESAC.
CURRENT LENDER WILL STAY IN UP TO 70% LTV, ONLY $360K DOWN.
Geo Lat: 33.512205
Geo Lon: -112.078727
Status Change Info
Off Market Date: 2013-12-20
Under Contract Date: 2013-11-19
Close of Escrow Date: 2013-12-23
Sold Price: $1,150,000
Income Expenses
Net Operating Income: 80000
Property Features
Project Type: 13 - 24 Units
Construction: Block
Const - Finish: Painted
Roofing: Foam
Floors: Concrete; Vinyl; Carpet
Sale Includes: Building(s) Only; Land & Building; Pool Equipment; Laundry Equipment
Payment Includes: Principal; Interest
Community Features: Pool; Barbecue
Exterior Amenities: Landscape Water System; Green Landscaping; Fenced; Cable TV Available; Patio/Balcony
Interior Features: Fire/Smoke Alarm(s); Vertical Blinds
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal
Cooling: Individual
Water Source: Master Meter
Sewer: Sewer - Public
Electric: APS; Individual Meter
Gas: SW Gas; Individual Meter
Parking Features: Carport; On Street; 1 Space/Unit; Assigned
Road Surface Type: Asphalt
Owner Pays: Landscaping; Pool Maintenance
Tenant Pays: Water; Sewer; Electricity; Gas; Trash Collection; Cable TV
Source of Fincl Data: Owner
Special: Owner/Agent
Existing 1st Loan: Conventional
Existing 1st Loan Type: Fixed
Existing 1st Loan Terms: Non Assumable
Existing 2nd Loan: Other (See Remarks)
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Other (See Remarks)
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: FHA; Conventional; Owner May Carry; 1031 Exchange
Environmental: None
Listing Office: Leagan Realty, LLC
Last Updated: December - 26 - 2013
Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.