$460,000
Phoenix, AZ 85007
MLS# 6075494
Status: Closed
1 / 9
Property Description
This updated four-plex consists of four 2-bedroom / 1-bath rental units of approx 621 SF. Three (3) of them have been tastefully remodeled to include in-unit stackable washer-dryers, new cabinets and counters, new backsplashes, vanities, windows, lighting and appliances. And with the installation of new A/C units, upgraded electrical service panels, and a beautiful new parking lot- the heavy lifting has been done. Value-Add going forward could be finishing the last unit and to simply move the leases to market rents. One of the renovated units is currently rented at $995, and another leased at $1,025 PLUS both collect $40 in R.U.B.S. Proximity to downtown, midtown and the valley freeways provides tenants easy access to valley employment, shopping and more.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $460,000
Sold Price: $460,000
Status: Closed
List Date: 2020-05-07
Location, Tax & Legal
Assessor's Map #: 25
Legal Description (Abbrev): LAS FLORES
Assessor's Parcel #: 64
Add'l Parcels: No
Tax Municipality: Phoenix
Census Tract: 112900
Taxes: 912
Legal: LAS FLORES
Marketing Name: GaRFIELD 4-PLEX
Map Code/Grid: Q34
House Number: 1636
Compass: W
Street Name: GARFIELD
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85007
Zip4: 2233
County Code: Maricopa
Subdivision: LAS FLORES
Assessor Number: 111-25-064
Tax Year: 2019
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 16
Lot Size Dimensions: irreg
Total # of Units: 4
Elementary School District: Phoenix Elementary District
High School District: Phoenix Union High School District
Year Built: 1983
Zoning: M-H, R-5
Legal Info
Range: 3E
Section: 6
Township: 1N
Block: 1
Lot Number: 18
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
Land & Building: 1
Income & Expenses
Annual Elec Exp: 0
Annual Gas Exp: 0
Annual Ins Exp: 1050
Annual Land Lse Exp: 0
Annual Landscape Exp: 0
Annual Legal & Acctg: 0
Annual Maint Exp: 2000
Annual Mgmt Exp: 4850
Annual Trash Exp: 1074
Annual Wtr/Swr Exp: 4554
Owner Association: No
Annual Ownr Asoc Fee: 0
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 440
Operating Exp: 14880
Other Income: 1120
Vacancy Allowance: 0.05
Adjusted Gross Inc: 44897
Pmt & Rate Info
Cap Rate: 6.61
Down Payment: 455000
Equity: 455000
Down Payment %: 100
Monthly Payments: 0
Total Owed: 0
Showing Notification Methods
Phone Call: 1
Community Features
No Pool: 1
Heating
Electric: 1
Central: 1
Cooling
Electric: 1
Heat Pump: 1
Individual: 1
Exterior Amenities
Partially Fenced: 1
Security Light(s): 1
Interior Features
Unfurnished: 1
Fire/Smoke Alarm(s): 1
Tenant Pays
Electricity: 1
Cable TV: 1
Appliances Included
Dishwasher: 1
Disposal: 1
Refrigerator: 1
Free-Standing Range: 1
Washer/Dryer: 1
W/D Hookup: 1
Road Surface Type
Asphalt: 1
Concrete: 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
Water: 1
Sewer: 1
Trash Collection: 1
New Financing
Conventional: 1
No Carry: 1
Existing 1st Loan
Other (See Rmks): 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 1
Existing 2nd Loan
Other (See Remarks): 1
Existing 2nd Loan Type
Not Applicable: 1
Existing 2nd Loan Terms
Not Applicable: 1
Existing 3rd Loan
Other (See Remarks): 1
Existing 3rd Loan Type
Not Applicable: 1
Reports/Disclosures
Seller Prop Disc Stm: 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
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 4
Avg Rent: 995
Avg SqFt: 621
# Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: VA
Loan Years: 30
Closing Cost Split: Seller Paid - S
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: $
Seller Concession to Buyer: 1150
Seller Concession $/%: $
Remarks Misc
Cross Street: 17th Avenue
Directions: From Roosevelt /Grand Ave / 7th Avenue, go West on Roosevelt to 17th Avenue, south on 17th Avenue to Garfield, east to property.
Geo Lat: 33.457959
Geo Lon: -112.094959
Status Change Info
Off Market Date: 2020-06-25
Under Contract Date: 2020-05-18
Close of Escrow Date: 2020-06-30
Sold Price: $460,000
Income Expenses
Gross Annual Sch Inc: 46140
Net Operating Income: 30073
Property Features
Project Type: Four Plex
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Composition
Floors: Vinyl; Ceramic Tile
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Partially Fenced; Security Light(s)
Interior Features: Unfurnished; Fire/Smoke Alarm(s)
Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Washer/Dryer; W/D Hookup
Heating: Central
Cooling: Electric; Heat Pump; Individual
Water Source: City Franchise
Sewer: Sewer - Public
Electric: APS
Gas: None
Parking Features: >1 Space Per Unit; Paved
Road Surface Type: Asphalt; Concrete
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity; Cable TV
Source of Fincl Data: Owner
Showing Notification Methods: Phone Call
Existing 1st Loan: Other (See Rmks)
Existing 1st Loan Type: Not Applicable
Existing 1st Loan Terms: Not Applicable
Existing 2nd Loan: Other (See Remarks)
Existing 2nd Loan Type: Not Applicable
Existing 2nd Loan Terms: Not Applicable
Existing 3rd Loan: Other (See Remarks)
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
Listing Office: REI Marketing
Last Updated: April - 06 - 2026
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