1707 N 18TH Street, Phoenix, AZ 85006
$4,515,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $4,515,000 Last Modified: 3/27/2025
Description
THE CORONADO 19 is a newly renovated 19-unit multifamily complex with (2) Studios, (9) 1-Bedroom/1-Bath units and (8) 2-Bedroom/1-Bath units just outside the Coronado Historic District. Built
in 1960, The Coronado 19 consists of approximately 13,300 sq ft of rental space. All units are fully renovated with new cabinets, granite countertops, flooring, stainless steel appliances, dual pane windows and in-suite washer/dryers. The property has been updated with all new electric panels and wiring, new sewer lines and plumbing. A new pool was installed that can be used year round. All units are individually metered for electricity. The property is centrally located in Phoenix with easy access to the 51 freeway. This property is within 5 miles of downtown phoenix, Arcadia, Biltmore, etc.
More Information MLS# 6298556
Contract Info
Ownership: Fee Simple Current Price: $4,515,000 Sold Price: $4,515,000 Status: Closed List Date: 2021-09-24
Location, Tax & Legal
Assessor's Map #: 13 Legal Description (Abbrev): LOT 15 BLOCK 9 MCDOWELL MANORS ANNEX MCR 003344 Assessor's Parcel #: 113 Assessor Parcel Ltr: A Add'l Parcels: No Tax Municipality: Maricopa - COUNTY Census Tract: 111602 Taxes: 6282 Legal: LOT 15 BLOCK 9 MCDOWELL MANORS ANNEX MCR 003344 Marketing Name: The Coronado 19 Map Code/Grid: P35 House Number: 1707 Compass: N Street Name: 18TH St Suffix: Street City/Town Code: Phoenix State/Province: AZ Zip Code: 85006 Zip4: 2305 County Code: Maricopa Subdivision: MCDOWELL MANORS ANNEX Assessor Number: 117-13-113-A Tax Year: 2021
General Property Description
# of Buildings: 3 Uncvrd Parking Spcs: 14 Lot Size Dimensions: 0.062 Total # of Units: 19 Elementary School District: Creighton Elementary District High School District: Phoenix Union High School District Elementary School: Excelencia School Jr. High School: Phoenix Coding Academy High School: North High School Year Built: 1960 Zoning: R-4
Legal Info
Range: 3E Section: 34 Township: 2N Block: 9 Lot Number: 15
Project Type
13 - 24 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Vinyl: 1
Sale Includes
Land & Building: 1 Personal Property: 1
Income & Expenses
Annual Elec Exp: 3958.82 Annual Gas Exp: 145.4 Annual Ins Exp: 8744 Annual Land Lse Exp: 0 Annual Landscape Exp: 5000 Annual Legal & Acctg: 0 Annual Maint Exp: 10000 Annual Mgmt Exp: 14820 Annual Trash Exp: 5422.4 Annual Wtr/Swr Exp: 5422.4 Owner Association: No Annual Ownr Asoc Fee: 0 Annual PAD Fee: 0 Annual Rplcmnt Rsrvs: 0 Annual Other Expense: 0 Operating Exp: 59795.02 Other Income: 0 Vacancy Allowance: 0.05 Adjusted Gross Inc: 255968.3
Pmt & Rate Info
Cap Rate: 1.67 Equity: 4600000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0
Showing Notification Methods
Phone Call: 1
Lockbox Type
None: 1
Community Features
Pool: 1 Barbecue: 1
Heating
Electric: 1 Individual: 1
Cooling
Electric: 1
Exterior Amenities
Patio/Balcony: 1
Interior Features
Unfurnished: 1 Fire/Smoke Alarm(s): 1 Mini Blinds: 1
Tenant Pays
Electricity: 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
Carport: 1 1 Space/Unit: 1
Electric
APS: 1
Gas
SW Gas: 1
Owner Pays
Water: 1 Sewer: 1 Gas: 1 Trash Collection: 1 Landscaping: 1 Pool Maintenance: 1
New Financing
Conventional: 1 No Carry: 1 1031 Exchange: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 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
Seller Prop Disc Stm: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
# Efficiency Units: 2 Avg Rent: 879.28 Avg SqFt: 300 # Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 9 Avg Rent: 1123.6 Avg SqFt: 700 # Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 8 Avg Rent: 1322.87 Avg SqFt: 800 # Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional Loan Years: 10 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: McDowell Rd & 16th St Directions: Head east on E McDowell Rd, North on N 18th St. Property will be on the right at the corner of Coronado St & 18th St. Geo Lat: 33.467194 Geo Lon: -112.043029
Status Change Info
Off Market Date: 2022-01-03 Under Contract Date: 2021-12-26 Close of Escrow Date: 2022-02-28 Sold Price: $4,515,000
Income Expenses
Gross Annual Sch Inc: 269440.32 Net Operating Income: 76607
Property Features
Project Type: 13 - 24 Units Construction: Block Const - Finish: Painted Roofing: Composition Floors: Vinyl Sale Includes: Land & Building; Personal Property Community Features: Pool; Barbecue Exterior Amenities: Patio/Balcony Interior Features: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer Heating: Individual Cooling: Electric Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: SW Gas Parking Features: Carport; 1 Space/Unit Road Surface Type: Asphalt Owner Pays: Water; Gas; Trash Collection; Landscaping; Pool Maintenance Tenant Pays: Electricity; Cable TV 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: 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: Conventional; No Carry; 1031 Exchange Environmental: None
Listing Office: Urbanity Properties
Last Updated: March - 27 - 2025
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