$475,000
Phoenix, AZ 85006
MLS# 5358149
Status: Closed
1 / 17
Property Description
3 buildings fully leased on 1 year leases in the Garfield Historic District of Downtown Phoenix. These urban infill units are nestled in a great location with easy transportation to Downtown Phoenix. Each tenant pays all utilities. Landlord has sole responsibility of landscaping. Each building has separate water and electricity to provide an easy transition to condominiums if desired. Selling at a 6.3 CAP or $200,000 a building.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $475,000
Sold Price: $475,000
Status: Closed
List Date: 2015-11-04
Location, Tax & Legal
Assessor's Map #: 28
Legal Description (Abbrev): ALBRIGHTS SUB
Assessor's Parcel #: 15
Add'l Parcels: No
Tax Municipality: Maricopa - COUNTY
Census Tract: 113203
Taxes: 1609.92
Legal: ALBRIGHTS SUB
Marketing Name: CIMA Holdings, LLC
Map Code/Grid: Q34
House Number: 1118
Compass: N
Street Name: 11TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85006
Zip4: 2915
County Code: Maricopa
Subdivision: ALBRIGHT SUB
Assessor Number: 116-28-015
Tax Year: 2015
General Property Description
# of Buildings: 3
Uncvrd Parking Spcs: 6
Lot Size Dimensions: 50x200
Total # of Units: 3
High School District: Phoenix Union High School District
Elementary School: Cartwright School
Jr. High School: Phoenix Prep Academy
High School: North High School
Year Built: 2014
Zoning: R-3
Legal Info
Range: 3E
Section: 4
Township: 1N
Lot Number: 5
Project Type
Tri-Plex: 1
Other (See Remarks): 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Concrete: 1
Floors
Ceramic Tile: 1
Carpet: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 810
Annual Land Lse Exp: 0
Annual Landscape Exp: 500
Annual Legal & Acctg: 0
Annual Maint Exp: 300
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: 0
Operating Exp: 3219.92
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 37990
Total Monthly Rental Income: 3300
Pmt & Rate Info
Cap Rate: 7.6
Down Payment: 0
Equity: 500000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Community Features
No Pool: 1
Heating
Electric: 1
Cooling
Ceiling Fan(s): 1
Central Air: 1
Heat Pump: 1
Exterior Amenities
Desert Landscaping: 1
Partially Fenced: 1
Interior Features
Fire/Smoke Alarm(s): 1
Tenant Pays
Gas: 1
Water: 1
Sewer: 1
Electricity: 1
Trash Collection: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Microwave: 1
Refrigerator: 1
Free-Standing Range: 1
Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
>1 Space Per Unit: 1
Paved: 1
Electric
APS: 1
Gas
None: 1
Owner Pays
Landscaping: 1
New Financing
Cash to Loan: 1
VA: 1
Conventional: 1
FHA: 1
Existing 1st Loan
Conventional: 1
Existing 1st Loan Type
Fixed: 1
Existing 1st Loan Terms
Non Assumable: 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
Soil Test: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Contact Info
List Agent Home Phn: 602-942-3241
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
Avg Rent: 0
3 Bedrooms Units
# 3 Bedroom Units: 3
Avg Rent: 1100
Avg SqFt: 1000
# Baths: 2
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Cash
Closing Cost Split: Normal - N
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: Roosevelt and 11th St
Directions: Heading South on 7th St. Turn east onto Roosevelt, then head north on 11th St. Property is on the west side of the street.
Geo Lat: 33.460661
Geo Lon: -112.059368
Status Change Info
Off Market Date: 2016-01-23
Under Contract Date: 2016-01-20
Close of Escrow Date: 2016-02-25
Sold Price: $475,000
Income Expenses
Gross Annual Sch Inc: 37990
Net Operating Income: 37990
Property Features
Project Type: Tri-Plex; Other (See Remarks)
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Concrete
Floors: Ceramic Tile; Carpet
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Desert Landscaping; Partially Fenced
Interior Features: Fire/Smoke Alarm(s)
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer
Cooling: Ceiling Fan(s); Heat Pump; Central Air
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: None
Parking Features: >1 Space Per Unit; Paved
Road Surface Type: Asphalt
Owner Pays: Landscaping
Tenant Pays: Water; Sewer; Electricity; Gas; Trash Collection; Cable TV
Source of Fincl Data: Owner
Existing 1st Loan: Conventional
Existing 1st Loan Type: Fixed
Existing 1st Loan Terms: Non Assumable
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: Cash to Loan; VA; FHA; Conventional
Environmental: None
Listing Office: Somma Realty, Inc
Last Updated: January - 13 - 2026
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