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
Overview
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.
Listing Details MLS# 6533594
Location, Tax & Legal
- 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
- 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
Contract Info
- Ownership
- Fee Simple
General Property Description
- Lot Size Dimensions
- 20868
- Year Built
- 1981
- Uncvrd Parking Spcs
- 27
- Total # of Units
- 30
- # of Buildings
- 2
- Zoning
- R4A
- Flood Zone
- No
- 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
Remarks Misc
- Cross Street
- 36th Street and Osborn
- Directions
- Just north of Thomas on 36th Street. Property on the east side of the street
Status Change Info
- Off Market Date
- 2023-05-29
- Under Contract Date
- 2023-03-28
- Close of Escrow Date
- 2023-07-03
Legal Info
- Township
- 2N
- Range
- 3E
- Section
- 25
- Lot Number
- 9
More Information
1 Bedroom Units
- # 1 Bedroom Units
- 28
- Avg Rent
- 675
- Avg SqFt
- 550
- # Baths
- Yes
2 Bedroom Units
- # 2 Bedroom Units
- 2
- Avg Rent
- 850
- Avg SqFt
- 700
- # Baths
- Yes
Contact Info
- List Agent Home Phn
- 602-882-3388
Sold Info
- Loan Type
- Conventional
- Loan Years
- 30
- Payment Type
- Fixed
- Closing Cost Split
- Normal - N
- Buyer Concession $/%
- $
- Seller Concession $/%
- $
- Buyer Concession to Seller
- 0
- Seller Concession to Buyer
- 0
Project Type
- 25 - 50 Units
- Yes
Construction
- Block
- Yes
Const - Finish
- Painted
- Yes
Roofing
- Foam
- Yes
Floors
- Concrete
- Yes
- Carpet
- Yes
Sale Includes
- Land & Building
- Yes
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
- Yes
Lockbox Type
- None
- Yes
Community Features
- No Pool
- Yes
Heating
- Electric
- Yes
Cooling
- Electric
- Yes
- Individual
- Yes
Exterior Amenities
- Desert Landscaping
- Yes
Tenant Pays
- Electricity
- Yes
- Cable TV
- Yes
Appliances Included
- Built-In Range
- Yes
Road Surface Type
- Asphalt
- Yes
Source of Fincl Data
- Owner
- Yes
Water Source
- City Franchise
- Yes
Sewer
- Sewer - Public
- Yes
Parking Features
- 1 Space/Unit
- Yes
Electric
- SRP
- Yes
- Individual Meter
- Yes
Gas
- None
- Yes
Owner Pays
- Water
- Yes
- Sewer
- Yes
- Trash Collection
- Yes
- Landscaping
- Yes
New Financing
- Cash to Loan
- Yes
- Conventional
- Yes
Existing 1st Loan
- Treat as Free&Clear
- Yes
Existing 1st Loan Type
- Not Applicable
- Yes
Existing 1st Loan Terms
- Not Applicable
- Yes
Existing 2nd Loan
- Treat as Free&Clear
- Yes
Existing 2nd Loan Type
- Not Applicable
- Yes
Existing 2nd Loan Terms
- Not Applicable
- Yes
Existing 3rd Loan
- Treat as Free&Clear
- Yes
Existing 3rd Loan Type
- Not Applicable
- Yes
Reports/Disclosures
- None
- Yes
Existing 3rd Loan Terms
- Not Applicable
- Yes
Environmental
- None
- 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: 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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