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
Overview
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
Listing Details MLS# 5983835
Location, Tax & Legal
- 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
- 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
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- 285 x 267
- Year Built
- 1956
- Total # of Units
- 23
- # of Buildings
- 8
- Zoning
- R-3
- Elementary School District
- Creighton Elementary District
- High School District
- Phoenix Union High School District
- Uncvrd Parking Spcs
- 0
Remarks Misc
- Cross Street
- Indian School & 22nd Street
Status Change Info
- Off Market Date
- 2020-05-01
- Under Contract Date
- 2020-03-31
- Close of Escrow Date
- 2020-05-29
Legal Info
- Township
- 2N
- Range
- 3E
- Section
- 27
- Lot Number
- -
More Information
Income Expenses
- Gross Annual Sch Inc
- 329054
- Net Operating Income
- 257347
1 Bedroom Units
- # 1 Bedroom Units
- Yes
- Avg Rent
- 935
- Avg SqFt
- 549
- # Baths
- Yes
2 Bedroom Units
- # 2 Bedroom Units
- 22
- Avg Rent
- 1192
- Avg SqFt
- 769
- # Baths
- Yes
Sold Info
- Loan Type
- Cash
- Payment Type
- Other
- Closing Cost Split
- Normal - N
- Buyer Concession $/%
- $
- Seller Concession $/%
- $
- Buyer Concession to Seller
- 0
- Seller Concession to Buyer
- 0
Project Type
- 13 - 24 Units
- Yes
Construction
- Block
- Yes
Const - Finish
- Painted
- Yes
Roofing
- Composition
- Yes
Floors
- Concrete
- Yes
Sale Includes
- Land & Building
- Yes
- Pool Equipment
- Yes
- Laundry Equipment
- Yes
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
- Yes
- Yes
- Phone Call
- Yes
Lockbox Type
- None
- Yes
Community Features
- Pool
- Yes
Heating
- Electric
- Yes
Cooling
- Ceiling Fan(s)
- Yes
- Central Air
- Yes
Exterior Amenities
- Landscape Water System
- Yes
- Green Landscaping
- Yes
- Cable TV Available
- Yes
Interior Features
- Unfurnished
- Yes
- Fire/Smoke Alarm(s)
- Yes
Tenant Pays
- Electricity
- Yes
- Other (See Remarks)
- Yes
Appliances Included
- Dishwasher
- Yes
- Disposal
- Yes
- Microwave
- Yes
- Refrigerator
- Yes
- Built-In Range
- Yes
- Washer/Dryer
- Yes
Road Surface Type
- Asphalt
- Yes
Source of Fincl Data
- Other (See Remarks)
- Yes
Water Source
- City Franchise
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- Carport
- Yes
- 1 Space/Unit
- Yes
Electric
- APS
- Yes
Gas
- None
- Yes
Owner Pays
- Water
- Yes
- Sewer
- Yes
- Landscaping
- Yes
- Pool Maintenance
- Yes
- Other
- Yes
- See Remarks
- Yes
New Financing
- Conventional
- Yes
Existing 1st Loan
- Other (See Rmks)
- Yes
Existing 1st Loan Type
- Not Applicable
- Yes
Existing 1st Loan Terms
- Not Applicable
- Yes
Existing 2nd Loan
- Other (See Remarks)
- Yes
Existing 2nd Loan Type
- Not Applicable
- Yes
Existing 2nd Loan Terms
- Not Applicable
- Yes
Existing 3rd Loan
- Other (See Remarks)
- Yes
Existing 3rd Loan Type
- Not Applicable
- Yes
Reports/Disclosures
- Other (See Remarks)
- Yes
Existing 3rd Loan Terms
- Not Applicable
- Yes
Environmental
- Other (See Remarks)
- Yes
Existing Othr Ln Trm
- Not Applicable
- Yes
Efficiency Units
- Avg Rent
- 0
3 Bedrooms Units
- Avg Rent
- 0
4 Bedrooms Units
- Avg Rent
- 0
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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