$3,450,000
Phoenix, AZ 85009
MLS# 5688046
Status: Closed
1 / 6
Property Description
Casa West is a 32-unit garden-style apartment community located in a desirable west Phoenix neighborhood that was completely rebuilt and repositioned in 2016 with premium finishes. The property is made of block construction with pitched composition shingle roofs and is individually-metered for electricity. The unit mix is composed of 97% two-bedroom/one-bath floor plans that are spacious, very well designed and average nearly 800 square feet. Casa West offers an investor the rare opportunity to acquire an extensively renovated asset located in a desirable Phoenix location priced below replacement cost.
Details
Maps
Contract Info
Ownership: Fee Simple
Current Price: $3,450,000
Sold Price: $3,450,000
Status: Closed
List Date: 2017-11-15
Location, Tax & Legal
Assessor's Map #: 30
Legal Description (Abbrev): LOT 625 WINONA PARK 5 MCR 009434
Assessor's Parcel #: 129
Add'l Parcels: Yes
Tax Municipality: Phoenix
Census Tract: 112601
Taxes: 11186.28
Legal: LOT 625 WINONA PARK 5 MCR 009434
Marketing Name: Casa West
Map Code/Grid: P33
House Number: 4029
Compass: W
Street Name: MCDOWELL
St Suffix: Road
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85009
County Code: Maricopa
Subdivision: WINONA PARK 5
Assessor Number: 106-30-129
Tax Year: 2017
General Property Description
# of Buildings: 2
Uncvrd Parking Spcs: 30
Lot Size Dimensions: 202' x 165'
Total # of Units: 32
Elementary School District: Isaac Elementary District
High School District: Phoenix Union High School District
Year Built: 1968
Zoning: R-5
Legal Info
Range: 2E
Section: 3
Township: 1N
Lot Number: 625
Project Type
25 - 50 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Ceramic Tile: 1
Sale Includes
Land & Building: 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: 0
Operating Exp: 11186.28
Other Income: 5745
Vacancy Allowance: 0.03
Adjusted Gross Inc: 354307.05
Pmt & Rate Info
Cap Rate: 6.64
Down Payment: 949750
Equity: 3799000
Down Payment %: 30
Monthly Payments: 0
Total Owed: 0
Assessment Balance: 0
Community Features
No Pool: 1
Heating
Electric: 1
Individual: 1
Cooling
Electric: 1
Individual: 1
Exterior Amenities
Landscape Water System: 1
Desert Landscaping: 1
Interior Features
Unfurnished: 1
Tenant Pays
Electricity: 1
Appliances Included
Microwave: 1
Refrigerator: 1
Built-In 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
Individual Meter: 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
Contact Info
List Agent Home Phn: 602-735-5634
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 1
Avg Rent: 820
Avg SqFt: 619
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 31
Avg Rent: 940
Avg SqFt: 780
# 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: Seller Paid - S
Payment Type: Fixed
Buyer Concession to Seller: 0
Buyer Concession $/%: %
Seller Concession to Buyer: 0
Seller Concession $/%: %
Remarks Misc
Cross Street: 41st Avenue and McDowell Road
Geo Lat: 33.4656
Geo Lon: -112.146825
Status Change Info
Off Market Date: 2018-01-16
Under Contract Date: 2017-12-11
Close of Escrow Date: 2018-02-01
Sold Price: $3,450,000
Income Expenses
Gross Annual Sch Inc: 359520
Net Operating Income: 252299
Property Features
Project Type: 25 - 50 Units
Construction: Block
Const - Finish: Painted
Roofing: Composition
Floors: Ceramic Tile
Sale Includes: Land & Building
Community Features: No Pool
Exterior Amenities: Landscape Water System; Desert Landscaping
Interior Features: Unfurnished
Appliances Included: Built-In Range; Refrigerator; Microwave; Washer/Dryer
Heating: Individual
Cooling: Electric; Individual
Water Source: City Franchise
Sewer: Sewer - Public
Electric: Individual Meter
Gas: SW Gas
Parking Features: <1 Space Per Unit; Paved
Road Surface Type: Asphalt
Owner Pays: Water; Trash Collection
Tenant Pays: Electricity
Source of Fincl Data: Owner
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: CBRE, Inc
Last Updated: February - 05 - 2018
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