$602,500
Phoenix, AZ 85006
MLS# 6076921
Status: Closed
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Property Description
Excellent investment opportunity in the heart of Phoenix. Fully occupied 4 unit garden style building in The Garfield District. Completely renovated building with new kitchens, bathrooms, flooring, fixtures, private yards and parking. This a a turn-key cash flow opportunity with long term leases in place and a 6.5% CAP Rate. Centrally located near ASU, UofA, Banner, VA and all the lifestyle services Downtown Phoenix has to offer.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $602,500
Sold Price: $602,500
Status: Closed
List Date: 2020-05-09
Location, Tax & Legal
Assessor's Map #: 19
Legal Description (Abbrev): LOT 6 BLOCK 1 WALLACE TRACT MCR 000604
Assessor's Parcel #: 183
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 113201
Taxes: 904
Legal: LOT 6 BLOCK 1 WALLACE TRACT MCR 000604
Marketing Name: Cash Flow
Map Code/Grid: Q34
House Number: 1530
Compass: E
Street Name: PIERCE
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85006
Zip4: 3556
County Code: Maricopa
Subdivision: WALLACE TRACT
Assessor Number: 116-19-183
Tax Year: 2019
General Property Description
# of Buildings: 1
Uncvrd Parking Spcs: 6
Lot Size Dimensions: 6,992
Total # of Units: 4
Elementary School District: Phoenix Elementary District
High School District: Phoenix Union High School District
Elementary School: Garfield School
Jr. High School: Phoenix Prep Academy
High School: North High School
Year Built: 1936
Zoning: R-4
Legal Info
Range: 3E
Section: 4
Township: 1N
Block: 1
Lot Number: 6
Project Type
Four Plex: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Ceramic Tile: 1
Sale Includes
Building(s) Only: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 1200
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: 4800
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 6904
Other Income: 0
Vacancy Allowance: 0
Adjusted Gross Inc: 49020
Total Monthly Rental Income: 4085
Pmt & Rate Info
Cap Rate: 6.48
Down Payment: 0
Equity: 650000
Down Payment %: 0
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Showing Notification Methods
Phone Call: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Individual: 1
Cooling
Electric: 1
Exterior Amenities
Fenced: 1
Partially Fenced: 1
Patio/Balcony: 1
Tenant Pays
Gas: 1
Electricity: 1
Appliances Included
Microwave: 1
Refrigerator: 1
Free-Standing Range: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
On Street: 1
1 Space/Unit: 1
Paved: 1
Electric
APS: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Sewer: 1
Trash Collection: 1
New Financing
Conventional: 1
Existing 1st Loan
Treat as Free&Clear: 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
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 2
Avg Rent: 1021.25
Avg SqFt: 600
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 1021.25
Avg SqFt: 600
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional
Loan Years: 30
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: 16th St & ROOSEVELT
Geo Lat: 33.456066
Geo Lon: -112.048593
Status Change Info
Off Market Date: 2020-10-01
Under Contract Date: 2020-08-13
Close of Escrow Date: 2020-09-30
Sold Price: $602,500
Income Expenses
Gross Annual Sch Inc: 49020
Net Operating Income: 42116
Property Features
Project Type: Four Plex
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Composition
Floors: Vinyl; Ceramic Tile
Sale Includes: Building(s) Only
Community Features: No Pool
Exterior Amenities: Fenced; Partially Fenced; Patio/Balcony
Appliances Included: Free-Standing Range; Refrigerator; Microwave
Heating: Individual
Cooling: Electric
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: SW Gas
Parking Features: On Street; 1 Space/Unit; Paved
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity; Gas
Source of Fincl Data: Owner
Showing Notification Methods: Phone Call
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
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
Environmental: None
Listing Office: RE/MAX Solutions
Last Updated: April - 07 - 2026
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