$1,100,000
Phoenix, AZ 85019
MLS# 4866224
Status: Closed
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Property Description
Bethany Apartments is a 30-unit apartment community on 1.76 acres in the Central West Phoenix sub-market. Recent improvements include many of the A/C units replaced as well as all roofs. Many of the interior units improved and most have ceramic tile throughout. Located west of the I-17 freeway and near the US-60, this property is in a well established sub-market, close to shopping and schools with plenty of transportation options. Property being sold ''As Is''. For the Investor: This property is projected to generate total rents of $ $208,127 less 15% vacancy of -$ $31,219 per year, added income of $3,204, equals $180,112 adjusted gross income. Then after projected expenses of $ $80,695 the amount an investor should pocket is $90,416 per year based on pro forma. This is a 7.95% CAP R
Details
Maps
Documents
Contract Info
Ownership: Fee Simple
Current Price: $1,100,000
Sold Price: $1,100,000
Status: Closed
List Date: 2012-12-19
Location, Tax & Legal
Assessor's Map #: 10
Assessor's Parcel #: 119
Add'l Parcels: No
Tax Municipality: Phoenix
Taxes: 8871.02
Legal: legal description to be provided by title to govern.
Marketing Name: Bethany Apartments
Map Code/Grid: N33
House Number: 3625
Compass: W
Street Name: Bethany Home
St Suffix: Road
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85019
County Code: Maricopa
Assessor Number: 145-10-119
Tax Year: 2012
General Property Description
# of Buildings: 12
Uncvrd Parking Spcs: 18
Lot Size Dimensions: 76666 sf
Total # of Units: 30
Elementary School District: Alhambra Elementary District
High School District: Phoenix Union High School District
Elementary School: Alma Elementary School
Jr. High School: Alhambra Traditional School
High School: Alhambra High School
Year Built: 1970
Zoning: R-3
Legal Info
Range: 2E
Section: 15
Township: 2N
Project Type
25 - 50 Units: 1
Construction
Brick: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Ceramic Tile: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 3120
Annual Gas Exp: 960
Annual Ins Exp: 12600
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 15600
Annual Mgmt Exp: 13804
Annual Trash Exp: 1920
Annual Wtr/Swr Exp: 22800
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 1020
Operating Exp: 80695.02
Other Income: 3769
Vacancy Allowance: 0.15
Adjusted Gross Inc: 180111.6
Total Monthly Rental Income: 17343.92
Pmt & Rate Info
Cap Rate: 7.95
Down Payment: 0
Equity: 1250000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Community Features
Pool: 1
Manager Res/Office: 1
Heating
Electric: 1
Cooling
Electric: 1
Individual: 1
Exterior Amenities
Landscape Water System: 1
Green Landscaping: 1
Partially Fenced: 1
Cable TV Available: 1
Patio/Balcony: 1
Pet Restrictions: 1
Separate Storage: 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Tenant Pays
Gas: 1
Electricity: 1
Cable TV: 1
Appliances Included
Refrigerator: 1
Free-Standing Range: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Projected Proforma: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
Electric
Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1
Gas: 1
Cable TV: 1
New Financing
Conventional: 1
No Carry: 1
Existing 1st Loan
Conventional: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Treat as Free&Clear: 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: 602-256-1422
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 30
Avg Rent: 578
Avg SqFt: 774
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Cash
Closing Cost Split: Normal - N
Payment Type: Other
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: N. 35th and W. Bethany Home Road
Directions: From N. 35th Ave. and W. Bethany Home Rd., head West on W. Bethany Home Rd., property located on the South side of W. Bethany Home Rd.
Geo Lat: 33.52346
Geo Lon: -112.13791
Status Change Info
Off Market Date: 2013-04-18
Under Contract Date: 2013-04-15
Close of Escrow Date: 2013-05-16
Sold Price: $1,100,000
Income Expenses
Gross Annual Sch Inc: 208127
Net Operating Income: 99416
Property Features
Project Type: 25 - 50 Units
Construction: Brick
Const - Finish: Painted
Roofing: Composition
Floors: Ceramic Tile
Sale Includes: Land & Building
Community Features: Pool; Manager Res/Office
Exterior Amenities: Landscape Water System; Green Landscaping; Partially Fenced; Cable TV Available; Patio/Balcony; Pet Restrictions; Separate Storage
Interior Features: Unfurnished; Fire/Smoke Alarm(s)
Appliances Included: Free-Standing Range; Refrigerator
Cooling: Electric; Individual
Water Source: City Franchise
Sewer: Sewer - Public
Electric: Individual Meter
Gas: None
Parking Features: Carport
Road Surface Type: Asphalt
Owner Pays: Water; Gas; Cable TV
Tenant Pays: Electricity; Gas; Cable TV
Source of Fincl Data: Owner; Projected Proforma
Existing 1st Loan: Conventional
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Loan Type: Not Applicable
Existing 3rd Loan Terms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional; No Carry
Environmental: None
Cash Flow 
Listing Office: Gerchick Real Estate
Last Updated: January - 14 - 2021
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