2939 N 36TH Street, Phoenix, AZ 85018
$4,800,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $4,800,000 Last Modified: 5/16/2025
Description
Originally built in 1981, Avanti Estates has recently undergone extensive improvements including a new roof, resurfaced pool. 90% of the units have been updated with new flooring, appliances, bathrooms and cabinets. The addition of covered parking has allowed for additional income. 85% of the units have received new air conditioning units. The current management is in the process of turning the water, sewer, and trash over to the tenant allowing for a potential gain of 24K a year in profit. All of Avanti Estate units are metered individually for electric.
With a sales price of $5, 500,000, averaging $183,000 per unit, Avanti Estates is an outstanding opportunity for investors.
*Seller may carry with the right offer.
More Information MLS# 6533594
Contract Info
Ownership: Fee Simple Current Price: $4,800,000 Sold Price: $4,800,000 Status: Closed List Date: 2023-03-20
Location, Tax & Legal
Assessor's Map #: 22 Legal Description (Abbrev): LOT 9 CITRUS ACRES LOTS 21-60 MCR 001729 Assessor's Parcel #: 11 Assessor Parcel Ltr: A Add'l Parcels: No Tax Municipality: Phoenix Census Tract: 110902 Taxes: 13503 Legal: CITRUS ACRES MCR 17/29 LOT 9 EX N 16F Marketing Name: Avanti Map Code/Grid: P35 House Number: 2939 Compass: N Street Name: 36TH St Suffix: Street City/Town Code: Phoenix State/Province: AZ Zip Code: 85018 Zip4: 7456 County Code: Maricopa Subdivision: CITRUS ACRES LOTS 21-60 Assessor Number: 127-22-011-A Tax Year: 2022
General Property Description
# of Buildings: 2 Uncvrd Parking Spcs: 27 Lot Size Dimensions: 20868 Flood Zone: No Total # of Units: 30 Elementary School District: Phoenix Elementary District High School District: Phoenix Union High School District Elementary School: Creighton Elementary School Jr. High School: Creighton Elementary School High School: Camelback High School Year Built: 1981 Zoning: R4A
Legal Info
Range: 3E Section: 25 Township: 2N Lot Number: 9
Project Type
25 - 50 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Foam: 1
Floors
Concrete: 1 Carpet: 1
Sale Includes
Land & Building: 1
Income & Expenses
Annual Elec Exp: 0 Annual Gas Exp: 0 Annual Ins Exp: 0 Annual Land Lse Exp: 0 Annual Landscape Exp: 0 Annual Legal & Acctg: 0 Annual Maint Exp: 0 Annual Mgmt Exp: 0 Annual Trash Exp: 0 Annual Wtr/Swr Exp: 0 Owner Association: No Annual Ownr Asoc Fee: 0 Annual PAD Fee: 0 Annual Rplcmnt Rsrvs: 0 Annual Other Expense: 0 Operating Exp: 13503 Other Income: 0 Vacancy Allowance: 0 Adjusted Gross Inc: 0
Pmt & Rate Info
Down Payment: 0 Equity: 5500000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0 Assessment Balance: 0
Showing Notification Methods
Phone Call: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Cooling
Electric: 1 Individual: 1
Exterior Amenities
Desert Landscaping: 1
Tenant Pays
Electricity: 1 Cable TV: 1
Appliances Included
Built-In Range: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
1 Space/Unit: 1
Electric
SRP: 1 Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1 Sewer: 1 Trash Collection: 1 Landscaping: 1
New Financing
Cash to Loan: 1 Conventional: 1
Existing 1st Loan
Treat as Free&Clear: 1
Existing 1st Loan Type
Not Applicable: 1
Existing 1st Loan Terms
Not Applicable: 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
None: 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Contact Info
List Agent Home Phn: 602-882-3388
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 28 Avg Rent: 675 Avg SqFt: 550 # Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2 Avg Rent: 850 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
Cross Street: 36th Street and Osborn Directions: Just north of Thomas on 36th Street. Property on the east side of the street Geo Lat: 33.482069 Geo Lon: -112.003606
Status Change Info
Off Market Date: 2023-05-29 Under Contract Date: 2023-03-28 Close of Escrow Date: 2023-07-03 Sold Price: $4,800,000
Property Features
Project Type: 25 - 50 Units Construction: Block Const - Finish: Painted Roofing: Foam Floors: Concrete; Carpet Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Desert Landscaping Appliances Included: Built-In Range Cooling: Electric; Individual Water Source: City Franchise Sewer: Sewer - Public Electric: SRP; Individual Meter Gas: None Parking Features: 1 Space/Unit Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping 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: Not Applicable 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: Cash to Loan; Conventional Environmental: None
Documents
Brochure › Listing Office: DeLex Realty
Last Updated: May - 16 - 2025
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