103 E BRINKER Drive, Avondale, AZ 85323
$3,750,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $3,750,000 Last Modified: 1/31/2025
Description
DO NOT DISTURB TENANTS - DO NOT WALK PROPERTY.Uniquely situated within Avondale's central corridor, Parkside Palms Apartments offers a selection of 1/1, 2/1 & 3/1 floor plans surrounded by green-scaped courtyards in a very low-density setting. Significant recently completed capital upgrades incl complete roof repair/resurfacing, parking lot resurfacing, exterior repaint, remodelled leasing office and re-plastered code-compliant swimming pool. Plus, 65% of the units have had cabinets, counters, vanities, tiled tub and shower surrounds, 6-panel doors, tile flooring, appliances & fixtures replaced during 2015-2016. Ownership has significantly upgraded property to result in steady rent growth now at the $1.00/SF mark.
More Information MLS# 5539374
Contract Info
Ownership: Fee Simple Current Price: $3,750,000 Sold Price: $3,750,000 Status: Closed List Date: 2016-12-27
Location, Tax & Legal
Assessor's Map #: 18 Legal Description (Abbrev): LOT A DIECI ESTATES Assessor's Parcel #: 37 Add'l Parcels: Yes Tax Municipality: Avondale Census Tract: 61200 Taxes: 11898 Legal: LOT A DIECI ESTATES Marketing Name: Parkside Palms Map Code/Grid: R32 House Number: 103 Compass: E Street Name: BRINKER St Suffix: Drive City/Town Code: Avondale State/Province: AZ Zip Code: 85323 Zip4: 1928 County Code: Maricopa Subdivision: DIECI ESTATES Assessor Number: 500-18-037 Tax Year: 2015
General Property Description
# of Buildings: 24 Uncvrd Parking Spcs: 122 Lot Size Dimensions: irreg Total # of Units: 54 Elementary School District: Avondale Elementary District High School District: Agua Fria Union High School District Year Built: 1964 Zoning: M-M, R-3
Legal Info
Range: 1W Section: 10 Township: 1N Lot Number: A
Project Type
51 - 99 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1 Brick Veneer: 1
Roofing
Built-Up: 1
Floors
Ceramic Tile: 1 Carpet: 1
Sale Includes
Land & Building: 1 Personal Property: 1 Pool Equipment: 1
Income & Expenses
Annual Elec Exp: 9752 Annual Gas Exp: 2586 Annual Ins Exp: 8474 Annual Land Lse Exp: 0 Annual Landscape Exp: 0 Annual Legal & Acctg: 17931 Annual Maint Exp: 57074 Annual Mgmt Exp: 15809 Annual Trash Exp: 7137 Annual Wtr/Swr Exp: 34833 Owner Association: No Annual Ownr Asoc Fee: 0 Annual PAD Fee: 0 Annual Rplcmnt Rsrvs: 10800 Annual Other Expense: 0 Operating Exp: 176294 Other Income: 9045 Vacancy Allowance: 0.04 Adjusted Gross Inc: 497360.07
Pmt & Rate Info
Cap Rate: 7.99 Down Payment: 4025000 Equity: 4025000 Down Payment %: 100 Monthly Payments: 0 Total Owed: 0 Assessment Balance: 0
Community Features
Pool: 1 Manager Res/Office: 1 Play Area: 1 Barbecue: 1
Heating
Heat Pump: 1 Electric: 1
Cooling
Electric: 1 Heat Pump: 1
Exterior Amenities
Landscape Water System: 1 Green Landscaping: 1 Desert Landscaping: 1 Cable TV Available: 1 Security Light(s): 1
Interior Features
Unfurnished: 1 Fire/Smoke Alarm(s): 1
Tenant Pays
Gas: 1 Electricity: 1 Cable TV: 1
Appliances Included
Refrigerator: 1 Free-Standing Range: 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
SW Gas: 1
Owner Pays
Water: 1 Sewer: 1 Trash Collection: 1 Landscaping: 1 Pool Maintenance: 1
New Financing
Other (See Remarks): 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
Contact Info
List Agent Home Phn: 602-243-7499
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 12 Avg Rent: 675 Avg SqFt: 448 # Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 26 Avg Rent: 775 Avg SqFt: 768 # Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 16 Avg Rent: 875 Avg SqFt: 960 # Baths: 1
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: Central and Brinker Directions: I-10 west to Dysart Road, south on Dysart to Van Buren, West on Van Buren to Central Avenue, south on Central to Brinker, East to property. Geo Lat: 33.440339 Geo Lon: -112.348583
Status Change Info
Off Market Date: 2017-02-23 Under Contract Date: 2017-01-08 Close of Escrow Date: 2017-03-13 Sold Price: $3,750,000
Income Expenses
Gross Annual Sch Inc: 510120 Net Operating Income: 321446
Property Features
Project Type: 51 - 99 Units Construction: Block Const - Finish: Painted; Brick Veneer Roofing: Built-Up Floors: Ceramic Tile; Carpet Sale Includes: Land & Building; Personal Property; Pool Equipment Community Features: Pool; Manager Res/Office; Play Area; Barbecue Exterior Amenities: Landscape Water System; Green Landscaping; Desert Landscaping; Cable TV Available; Security Light(s) Interior Features: Unfurnished; Fire/Smoke Alarm(s) Appliances Included: Free-Standing Range; Refrigerator Heating: Heat Pump Cooling: Electric; Heat Pump Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: >1 Space Per Unit; Paved Road Surface Type: Asphalt; Concrete Owner Pays: Water; Trash Collection; Landscaping; Pool Maintenance Tenant Pays: Electricity; Gas; Cable TV Source of Fincl Data: Owner 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: Other (See Remarks) Environmental: None
Listing Office: Kasten Long Commercial Group
Last Updated: January - 31 - 2025
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