The Houze Group
Michelle & Vic Houze
480-637-3787480-637-3787
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The Houze Group
Real Estate in Scottsdale and Surrounding Areas

1812 N 31st Place, Phoenix, AZ 85008 (MLS # 5988481)

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PRICE $599,000
BEDS n/a
BATHS 0 baths
HOME SIZE n/a
LOT SIZE n/a

Desirable unit mix featuring a majority two and three-bedroom floorplans. Unit interiors are lightly renovated and community space leaves an opportunity to enhancevisual appeal, security systems and laundry facilities for the next investor. Located 1.3 miles from loop 202 Expressway allowing for convenient transit to the downtown and midtown phoenix employment corridors. Only slightly further to Highway 51, allowing quick access to the Biltmore and North Phoenix. Room for significant operational improvement.Without significant capital expense, the property isanticipated to stabilize at a 7.24% cap rate basedon the pro forma when compared to the offeringprice.

DAYS ON MARKET 41 LAST UPDATED 11/8/2019
YEAR BUILT 1972 COUNTY Maricopa
STATUS Active PROPERTY TYPE(S) Multi Family

SCHOOLS
School District Phoenix Union High School District (210)
Elementary School Creighton Elementary School
Grade School Creighton Elementary District (014)
Jr. High School Creighton Elementary School
High School Camelback High School

PRICE HISTORY
Prior to Oct 29, '19 $610,000
Oct 29, '19 - Today $599,000


ADDITIONAL DETAILS
1 BEDROOM UNITS: # 1 BEDROOM UNITS 0
1 BEDROOM UNITS: # BATHS 0
1 BEDROOM UNITS: AVG RENT 0.00
1 BEDROOM UNITS: AVG SQFT 0
2 BEDROOM UNITS: # 2 BEDROOM UNITS 2
2 BEDROOM UNITS: # BATHS 1
2 BEDROOM UNITS: AVG RENT 965.00
2 BEDROOM UNITS: AVG SQFT 0
3 BEDROOMS UNITS: # 3 BEDROOM UNITS 2
3 BEDROOMS UNITS: # BATHS 1
3 BEDROOMS UNITS: AVG RENT 1100.00
3 BEDROOMS UNITS: AVG SQFT 0
4 BEDROOMS UNITS: # 4 BEDROOM UNITS 0
4 BEDROOMS UNITS: # BATHS 0
4 BEDROOMS UNITS: AVG RENT 0.00
4 BEDROOMS UNITS: AVG SQFT 0
APPLIANCES INCLUDED Other (See Remarks)
COMMUNITY AMENITIES No Pool
CONST - FINISH Painted
CONSTRUCTION Block
COOLING Individual
COUNTY CODE Maricopa
ELECTRIC SRP
ELEMENTARY SCHOOL Creighton Elementary School, Creighton Elementary School
FLOORS Carpet, Ceramic Tile
GAS SW Gas
HEATING Individual
HIGH SCHOOL Camelback High School, Camelback High School
INCOME & EXPENSES: ADJUSTED GROSS INC 62604.00
INCOME & EXPENSES: ANNUAL ELEC EXP 0.00
INCOME & EXPENSES: ANNUAL GAS EXP 0.00
INCOME & EXPENSES: ANNUAL INS EXP 1200.00
INCOME & EXPENSES: ANNUAL LAND LSE EXP 0.00
INCOME & EXPENSES: ANNUAL LANDSCAPE EXP 1714.00
INCOME & EXPENSES: ANNUAL LEGAL & ACCTG 723.00
INCOME & EXPENSES: ANNUAL MAINT EXP 2772.00
INCOME & EXPENSES: ANNUAL MGMT EXP 3420.00
INCOME & EXPENSES: ANNUAL OTHER EXPENSE 574.00
INCOME & EXPENSES: ANNUAL OWNR ASOC FEE 0.00
INCOME & EXPENSES: ANNUAL PAD FEE 0.00
INCOME & EXPENSES: ANNUAL RPLCMNT RSRVS 1200.00
INCOME & EXPENSES: ANNUAL TRASH EXP 0.00
INCOME & EXPENSES: ANNUAL WTR/SWR EXP 5141.00
INCOME & EXPENSES: GROSS ANNUAL SCH INC 66240.00
INCOME & EXPENSES: NET OPERATING INCOME 47073.00
INCOME & EXPENSES: OPERATING EXP 18389.00
INCOME & EXPENSES: OTHER INCOME 360.00
INCOME & EXPENSES: OWNER ASSOCIATION No
INCOME & EXPENSES: VACANCY ALLOWANCE 0.06
INTERIOR AMENITIES Unfurnished
JR. HIGH SCHOOL Creighton Elementary School
LEGAL INFO: LOT NUMBER 0
LEGAL INFO: RANGE 3E
LEGAL INFO: SECTION 35
LEGAL INFO: TOWNSHIP 2N
LOT SIZE DIMENSIONS 73 x 166
MARKETING NAME 31st Place Apartments
MOBILE HOME PRK INFO: TOTAL NUMBER SPACES 12
NEW FINANCING Conventional
OWNER PAYS Other (See Remarks)
PARKING Carport
PROJECT TYPE 5 - 12 Units
ROADS/STREETS Asphalt/Blacktop
ROOFING Comp Shingle
SALE INCLUDES Land & Building, Other (See Remarks)
SEWER Sewer - Public
SOURCE OF FINCL DATA Provided by Owner
TAX MUNICIPALITY Phoenix
TAXES 1645.00
TENANT PAYS Other (See Remarks)
TOTAL # OF UNITS 6.00
TOTAL PARKING SPCS 12.00
WATER Individual Meter, Other (See Remarks)
ZONING M-M


69 Somewhat Walkable



 
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Data last updated 11/17/19 1:18 AM PST.