2602 W GLENROSA Avenue, Phoenix, AZ 85017
$4,450,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $4,450,000 Last Modified: 1/24/2025
Description
CLICK DOCUMENTS TAB FOR PROPERTY FLIER
More Information MLS# 5882309
Contract Info
Ownership: Fee Simple Current Price: $4,450,000 Sold Price: $4,450,000 Status: Closed List Date: 2019-02-11
Location, Tax & Legal
Assessor's Map #: 18 Legal Description (Abbrev): E 166' OF S2 SW4 NW4 SW4 & S 15' OF N2 SW4 NW4 SW4 EX W 58' & EX S 30' RD .78 AC Assessor's Parcel #: 1 Add'l Parcels: Yes Tax Municipality: Phoenix Census Tract: 109001 Taxes: 15909 Legal: E 166' OF S2 SW4 NW4 SW4 & S 15' OF N2 SW4 NW4 SW4 EX W 58' & EX S 30' RD .78 AC Marketing Name: RADIUS APARTMENTS Map Code/Grid: P33 House Number: 2602 Compass: W Street Name: GLENROSA St Suffix: Avenue City/Town Code: Phoenix State/Province: AZ Zip Code: 85017 Zip4: 4346 County Code: Maricopa Assessor Number: 154-18-001 Tax Year: 2018
General Property Description
# of Buildings: 7 Uncvrd Parking Spcs: 70 Lot Size Dimensions: irreg Total # of Units: 72 Elementary School District: Alhambra Elementary District High School District: Phoenix Union High School District Year Built: 1979 Zoning: CC-C2
Legal Info
Range: 2E Section: 24 Township: 2N
Project Type
51 - 99 Units: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1 Stucco: 1
Roofing
Composition: 1 Built-Up: 1
Floors
Vinyl: 1 Sealed: 1 Wood: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 31991 Annual Gas Exp: 4913 Annual Ins Exp: 9424 Annual Land Lse Exp: 0 Annual Landscape Exp: 0 Annual Legal & Acctg: 350 Annual Maint Exp: 8051 Annual Mgmt Exp: 24794 Annual Trash Exp: 5671 Annual Wtr/Swr Exp: 17773 Owner Association: No Annual Ownr Asoc Fee: 0 Annual PAD Fee: 0 Annual Rplcmnt Rsrvs: 0 Annual Other Expense: 29955 Operating Exp: 148831 Other Income: 9852 Vacancy Allowance: 0.03 Adjusted Gross Inc: 481985.85
Pmt & Rate Info
Cap Rate: 7.41 Down Payment: 4499000 Equity: 4499000 Down Payment %: 100 Monthly Payments: 0 Total Owed: 0 Assessment Balance: 0
Community Features
Manager Res/Office: 1 Barbecue: 1
Heating
Electric: 1 Central: 1
Cooling
Central Air: 1 Electric: 1
Exterior Amenities
Desert Landscaping: 1 Fenced: 1 Satellite Dish: 1 Cable TV Available: 1 Patio/Balcony: 1 Security Light(s): 1
Interior Features
Unfurnished: 1 Mini Blinds: 1
Tenant Pays
None: 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/Unit: 1
Electric
APS: 1 Master Meter: 1
Gas
SW Gas: 1
Owner Pays
Water: 1 Sewer: 1 Electric: 1 Gas: 1 Trash Collection: 1 Cable TV: 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
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
# Efficiency Units: 48 Avg Rent: 527 Avg SqFt: 390 # Baths: 1
1 Bedroom Units
# 1 Bedroom Units: 22 Avg Rent: 619 Avg SqFt: 560 # Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2 Avg Rent: 742 Avg SqFt: 700 # 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: Normal - N Payment Type: Fixed Buyer Concession to Seller: 0 Buyer Concession $/%: $ Seller Concession to Buyer: 0 Seller Concession $/%: $
Remarks Misc
Directions: I-17 to Indian school road, West to 27th Avenue, North on 27th to GLENROSA, East to property on north side of road. Geo Lat: 33.499105 Geo Lon: -112.115043
Status Change Info
Off Market Date: 2019-05-31 Under Contract Date: 2019-02-21 Close of Escrow Date: 2019-06-21 Sold Price: $4,450,000
Income Expenses
Gross Annual Sch Inc: 485000 Net Operating Income: 333411
Property Features
Project Type: 51 - 99 Units Construction: Wood Frame Const - Finish: Painted; Stucco Roofing: Composition; Built-Up Floors: Vinyl; Sealed; Wood Sale Includes: Land & Building Community Features: Manager Res/Office; Barbecue Exterior Amenities: Desert Landscaping; Fenced; Satellite Dish; Cable TV Available; Patio/Balcony; Security Light(s) Interior Features: Unfurnished; Mini Blinds Appliances Included: Free-Standing Range; Refrigerator Heating: Central Cooling: Electric; Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: APS; Master Meter Gas: SW Gas Parking Features: 1 Space/Unit Road Surface Type: Asphalt; Concrete Owner Pays: Water; Electric; Gas; Trash Collection; Cable TV Tenant Pays: None 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 - 24 - 2025
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