$1,080,000
Phoenix, AZ 85018
MLS# 6151049
Status: Closed
1 / 75
Property Description
This fourplex offers an amazing opportunity in one of the hottest submarkets in all of Phoenix. Located in the Arcadia area, this property sits in a quaint, quiet cul-de-sac of awesome mid-century buildings. It is within walking distance / a quick bike ride (slightly over a half mile) to the original locations of both La Grande Orange and Postino, two of Arcadia's most popular destinations. It is also a short bike ride to the original location of the Madison Improvement Club and other new trendy retail developments like Campbell Commons (Chop Shop, Provision Coffee Bar) and Arcadia Place (radi8 Hot Yoga, Arcadia Meat Market, Masterpiece Donuts and Coffee, etc.).
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $1,080,000
Sold Price: $1,080,000
Status: Closed
List Date: 2020-10-23
Location, Tax & Legal
Assessor's Map #: 26
Legal Description (Abbrev): LOT 6 CAMELITA VILLA MCR 008931
Assessor's Parcel #: 45
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 108302
Taxes: 3658
Legal: LOT 6 CAMELITA VILLA MCR 008931
Marketing Name: Arcadia Fourplex
Map Code/Grid: P35
House Number: 3629
Compass: E
Street Name: TURNEY
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85018
Zip4: 4030
County Code: Maricopa
Subdivision: CAMELITA VILLA
Assessor Number: 170-26-045
Tax Year: 2020
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 0
Lot Size Dimensions: 12,321 Survey Available
Total # of Units: 4
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District
Elementary School: Biltmore Preparatory Academy
Jr. High School: Loma Linda Elementary School
High School: Camelback High School
Year Built: 1961
Zoning: R3
Legal Info
Range: 3E
Section: 24
Township: 2N
Lot Number: 6
Project Type
Four Plex: 1
Construction
Block: 1
Wood Frame: 1
Slump Block: 1
Const - Finish
Painted: 1
Roofing
Foam: 1
Floors
Concrete: 1
Ceramic Tile: 1
Other: 1
Sale Includes
Land & Building: 1
Laundry Equipment: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 0
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 0
Annual Mgmt Exp: 0
Annual Trash Exp: 0
Annual Wtr/Swr Exp: 0
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 14370
Operating Exp: 18028
Other Income: 4328
Vacancy Allowance: 0.03
Adjusted Gross Inc: 74038.16
Total Monthly Rental Income: 5820
Pmt & Rate Info
Cap Rate: 5.1
Down Payment: 0
Equity: 1100000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Showing Notification Methods
Text: 1
Community Features
Barbecue: 1
Other: 1
See Remarks: 1
Heating
Electric: 1
Cooling
Heat Pump: 1
Individual: 1
Exterior Amenities
Landscape Water System: 1
Partially Fenced: 1
Cable TV Available: 1
Security Light(s): 1
Interior Features
Furnished: 1
Partially Furnished: 1
Fire/Smoke Alarm(s): 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Disposal: 1
Refrigerator: 1
Built-In Range: 1
Washer/Dryer: 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
On Street: 1
1 Space/Unit: 1
Electric
SRP: 1
Gas
None: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
Landscaping: 1
New Financing
Conventional: 1
1031 Exchange: 1
Other (See Remarks): 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Fixed: 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
Boundary Survey Avlb: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 2
Avg Rent: 1350
Avg SqFt: 748
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 1650
Avg SqFt: 961
# 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: 36th St and Campbell
Directions: South on 36th Street, Left (East) on Turney to Property on right (Southwest corner of Turney and 36th Place).
Geo Lat: 33.500481
Geo Lon: -112.003347
Status Change Info
Off Market Date: 2021-02-03
Under Contract Date: 2020-12-19
Close of Escrow Date: 2021-02-09
Sold Price: $1,080,000
Income Expenses
Gross Annual Sch Inc: 72000
Net Operating Income: 56140
Property Features
Project Type: Four Plex
Construction: Block; Wood Frame; Slump Block
Const - Finish: Painted
Roofing: Foam
Floors: Concrete; Ceramic Tile; Other
Sale Includes: Land & Building; Laundry Equipment
Community Features: Barbecue; Other; See Remarks
Exterior Amenities: Landscape Water System; Partially Fenced; Cable TV Available; Security Light(s)
Interior Features: Furnished; Partially Furnished; Fire/Smoke Alarm(s)
Appliances Included: Built-In Range; Refrigerator; Disposal; Washer/Dryer
Cooling: Heat Pump; Individual
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: None
Parking Features: Carport; On Street; 1 Space/Unit
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Owner; Projected Proforma
Showing Notification Methods: Text
Existing 1st Loan: Treat as Free&Clear
Existing 1st Loan Type: Fixed
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; 1031 Exchange; Other (See Remarks)
Environmental: None
Supplements
Being a 5-10 minute car ride to the Biltmore Fashion Park in one direction and
Old Town Scottsdale in the other, this property truly sits in the hottest location in the
nucleus of Phoenix, allowing residents to enjoy, with ease, so much of what Phoenix
has to offer. With many dining, shopping, and entertainment options, as well as
multiple freeway access points within minutes, this is an extremely desirable area in
which to live.
This investment offering consists of a great unit mix of half one-bedroom / one-bath
units and half two-bedroom / two-bath units. They are all individually metered for
electricity and one unit has its own in-suite laundry. The buildings in this cul-de-sac
exhibit amazing examples of the vintage, mid-century charm that is so popular today.
All four of the units have been remodeled and many capital improvements have been
done. All four units have operated both as Airbnb /short-term vacation rentals with a
proven track record of solid income, as well as traditional market rate apartments.
There are multiple other opportunities to add additional value to the investment
through further renovations and rental increases. This is truly a unique offering in an
incredible location where investment properties such as this rarely come available.
*Furnishings not included in this offering but are available per separate agreement*
Listing Office: ABI Multifamily
Last Updated: March - 03 - 2025
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