4029 W MCDOWELL Road, Phoenix, AZ 85009
$3,450,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $3,450,000 Last Modified: 2/05/2018
Description
Casa West is a 32-unit garden-style apartment community located in a desirable west Phoenix neighborhood that was completely rebuilt and repositioned in 2016 with premium finishes. The property is made of block construction with pitched composition shingle roofs and is individually-metered for electricity. The unit mix is composed of 97% two-bedroom/one-bath floor plans that are spacious, very well designed and average nearly 800 square feet. Casa West offers an investor the rare opportunity to acquire an extensively renovated asset located in a desirable Phoenix location priced below replacement cost.
More Information MLS# 5688046
Contract Info
Ownership: Fee Simple Current Price: $3,450,000 Sold Price: $3,450,000 Status: Closed List Date: 2017-11-15
Location, Tax & Legal
Assessor's Map #: 30 Legal Description (Abbrev): LOT 625 WINONA PARK 5 MCR 009434 Assessor's Parcel #: 129 Add'l Parcels: Yes Tax Municipality: Phoenix Census Tract: 112601 Taxes: 11186.28 Legal: LOT 625 WINONA PARK 5 MCR 009434 Marketing Name: Casa West Map Code/Grid: P33 House Number: 4029 Compass: W Street Name: MCDOWELL St Suffix: Road City/Town Code: Phoenix State/Province: AZ Zip Code: 85009 County Code: Maricopa Subdivision: WINONA PARK 5 Assessor Number: 106-30-129 Tax Year: 2017
General Property Description
# of Buildings: 2 Uncvrd Parking Spcs: 30 Lot Size Dimensions: 202' x 165' Total # of Units: 32 Elementary School District: Isaac Elementary District High School District: Phoenix Union High School District Year Built: 1968 Zoning: R-5
Legal Info
Range: 2E Section: 3 Township: 1N Lot Number: 625
Project Type
25 - 50 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Ceramic Tile: 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: 11186.28 Other Income: 5745 Vacancy Allowance: 0.03 Adjusted Gross Inc: 354307.05
Pmt & Rate Info
Cap Rate: 6.64 Down Payment: 949750 Equity: 3799000 Down Payment %: 30 Monthly Payments: 0 Total Owed: 0 Assessment Balance: 0
Community Features
No Pool: 1
Heating
Electric: 1 Individual: 1
Cooling
Electric: 1 Individual: 1
Exterior Amenities
Landscape Water System: 1 Desert Landscaping: 1
Interior Features
Unfurnished: 1
Tenant Pays
Electricity: 1
Appliances Included
Microwave: 1 Refrigerator: 1 Built-In Range: 1 Washer/Dryer: 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 Per Unit: 1 Paved: 1
Electric
Individual Meter: 1
Gas
SW Gas: 1
Owner Pays
Water: 1 Sewer: 1 Trash Collection: 1
New Financing
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: 602-735-5634
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 1 Avg Rent: 820 Avg SqFt: 619 # Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 31 Avg Rent: 940 Avg SqFt: 780 # 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: Seller Paid - S Payment Type: Fixed Buyer Concession to Seller: 0 Buyer Concession $/%: % Seller Concession to Buyer: 0 Seller Concession $/%: %
Remarks Misc
Cross Street: 41st Avenue and McDowell Road Geo Lat: 33.4656 Geo Lon: -112.146825
Status Change Info
Off Market Date: 2018-01-16 Under Contract Date: 2017-12-11 Close of Escrow Date: 2018-02-01 Sold Price: $3,450,000
Income Expenses
Gross Annual Sch Inc: 359520 Net Operating Income: 252299
Property Features
Project Type: 25 - 50 Units Construction: Block Const - Finish: Painted Roofing: Composition Floors: Ceramic Tile Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Landscape Water System; Desert Landscaping Interior Features: Unfurnished Appliances Included: Built-In Range; Refrigerator; Microwave; Washer/Dryer Heating: Individual Cooling: Electric; Individual Water Source: City Franchise Sewer: Sewer - Public Electric: Individual Meter Gas: SW Gas Parking Features: <1 Space Per Unit; Paved Road Surface Type: Asphalt Owner Pays: Water; Trash Collection Tenant Pays: Electricity Source of Fincl Data: Owner 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: Conventional Environmental: None
Listing Office: CBRE, Inc
Last Updated: February - 05 - 2018
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