2122 E FAIRMOUNT Avenue, Phoenix, AZ 85016
$4,470,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $4,470,000 Last Modified: 8/17/2022
Description
Each building of the Modern Retro Living is of single-story block construction with pitched roofs. The fully renovated property features in-suite laundry machines, private patios in select units, extra storage, and covered parking. The community also features attractive resort-style grounds with a large swimming pool and mature landscaping around the property.The units at the Modern Retro Living have been extensively renovated in 2016. They feature modern shaker-style cabinetry with brushed nickel hardware, new countertops with subway tile backsplashes, polished concrete flooring, full-size stainless-steel appliances with dishwashers and built-in microwaves, contemporary bathroom vanities, subway tile shower surrounded with new brushed nickel fixtures, ceiling
More Information MLS# 5983835
Contract Info
Ownership: Fee Simple Current Price: $4,470,000 Sold Price: $4,470,000 Status: Closed List Date: 2019-08-30
Location, Tax & Legal
Assessor's Map #: 21 Legal Description (Abbrev): S 285' OF E 154' OF W 352' OF NE4 NW4 NE4 EX S 25' RD .92 AC Assessor's Parcel #: 21 Assessor Parcel Ltr: E Add'l Parcels: Yes Tax Municipality: Phoenix Census Tract: 110702 Taxes: 8695 Legal: S 285' OF E 154' OF W 352' OF NE4 NW4 NE4 EX S 25' RD .92 AC Marketing Name: Modern Retro Living Map Code/Grid: P35 House Number: 2122 Compass: E Street Name: FAIRMOUNT St Suffix: Avenue City/Town Code: Phoenix State/Province: AZ Zip Code: 85016 Zip4: 6189 County Code: Maricopa Assessor Number: 119-21-021-E Tax Year: 2019
General Property Description
# of Buildings: 8 Uncvrd Parking Spcs: 0 Lot Size Dimensions: 285 x 267 Total # of Units: 23 Elementary School District: Creighton Elementary District High School District: Phoenix Union High School District Year Built: 1956 Zoning: R-3
Legal Info
Range: 3E Section: 27 Township: 2N Lot Number: -
Project Type
13 - 24 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Concrete: 1
Sale Includes
Land & Building: 1 Pool Equipment: 1 Laundry Equipment: 1
Income & Expenses
Annual Elec Exp: 4224 Annual Gas Exp: 0 Annual Ins Exp: 4740 Annual Land Lse Exp: 0 Annual Landscape Exp: 8790 Annual Legal & Acctg: 0 Annual Maint Exp: 5400 Annual Mgmt Exp: 12840 Annual Trash Exp: 0 Annual Wtr/Swr Exp: 20856 Owner Association: No Annual Ownr Asoc Fee: 0 Annual PAD Fee: 0 Annual Rplcmnt Rsrvs: 0 Annual Other Expense: 38699 Operating Exp: 104244 Other Income: 23843 Vacancy Allowance: 0.05 Adjusted Gross Inc: 335252.15 Total Monthly Rental Income: 27421
Pmt & Rate Info
Cap Rate: 5.65 Down Payment: 0 Equity: 4554000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0 Assessment Balance: 0
Showing Notification Methods
Text: 1 Email: 1 Phone Call: 1
Lockbox Type
None: 1
Community Features
Pool: 1
Heating
Electric: 1
Cooling
Ceiling Fan(s): 1 Central Air: 1
Exterior Amenities
Landscape Water System: 1 Green Landscaping: 1 Cable TV Available: 1
Interior Features
Unfurnished: 1 Fire/Smoke Alarm(s): 1
Tenant Pays
Electricity: 1 Other (See Remarks): 1
Appliances Included
Dishwasher: 1 Disposal: 1 Microwave: 1 Refrigerator: 1 Built-In Range: 1 Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Other (See Remarks): 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1 1 Space/Unit: 1
Electric
APS: 1
Gas
None: 1
Owner Pays
Water: 1 Sewer: 1 Landscaping: 1 Pool Maintenance: 1 Other: 1 See Remarks: 1
New Financing
Conventional: 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
Other (See Remarks): 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
Other (See Remarks): 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 1 Avg Rent: 935 Avg SqFt: 549 # Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 22 Avg Rent: 1192 Avg SqFt: 769 # Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Cash Closing Cost Split: Normal - N Payment Type: Other Buyer Concession to Seller: 0 Buyer Concession $/%: $ Seller Concession to Buyer: 0 Seller Concession $/%: $
Remarks Misc
Cross Street: Indian School & 22nd Street Geo Lat: 33.493402 Geo Lon: -112.035842
Status Change Info
Off Market Date: 2020-05-01 Under Contract Date: 2020-03-31 Close of Escrow Date: 2020-05-29 Sold Price: $4,470,000
Income Expenses
Gross Annual Sch Inc: 329054 Net Operating Income: 257347
Property Features
Project Type: 13 - 24 Units Construction: Block Const - Finish: Painted Roofing: Composition Floors: Concrete Sale Includes: Land & Building; Pool Equipment; Laundry Equipment Community Features: Pool Exterior Amenities: Landscape Water System; Green Landscaping; Cable TV Available Interior Features: Unfurnished; Fire/Smoke Alarm(s) Appliances Included: Built-In Range; Refrigerator; Dishwasher; Disposal; Microwave; Washer/Dryer Cooling: Ceiling Fan(s); Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: APS Gas: None Parking Features: Carport; 1 Space/Unit Road Surface Type: Asphalt Owner Pays: Water; Landscaping; Pool Maintenance; Other; See Remarks Tenant Pays: Electricity; Other (See Remarks) Source of Fincl Data: Other (See Remarks) Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None 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 Environmental: Other (See Remarks)
Documents
Rent Roll October › Listing Office: ABI Multifamily
Last Updated: August - 17 - 2022
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