4750 N 28th Street, Phoenix, AZ 85016
$4,000,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $4,000,000 Last Modified: 12/27/2024
Description
Tres Arcos is a 25-unit apartment community located in the heart of Phoenix. Nestled among historic neighborhoods and highly renovated properties, Tres Arcos is located one block from the Arizona Biltmore. Residents enjoy the close proximity to Biltmore Fashion Park and all the amenities within the Camelback Corridor. Tres Arcos is an extremely desirable location for residents and has consistently stayed fully occupied. Tres Arcos is a 1969 block-constructed property consisting of seven single-level buildings. It's vintage charm lends itself to the popular mid-century modern renovation trend that is in high demand by residents and investors alike. The property consists of all two-bedroom units with individual backyards and covered parking for each unit.
Supplements: Tres Arcos is individually metered for electricity and hot water and enjoys an onsite laundry facility and recently renovated swimming pool. Very few properties can provide the location and redevelopment potential that the community has to offer.
More Information MLS# 5643626
Contract Info
Ownership: Fee Simple Current Price: $4,000,000 Sold Price: $4,000,000 Status: Closed List Date: 2017-08-07
Location, Tax & Legal
Assessor's Map #: 18 Assessor's Parcel #: 83 Assessor Parcel Ltr: F Add'l Parcels: No Tax Municipality: Phoenix Taxes: 13110 Legal: see title report Marketing Name: Tres Arcos Map Code/Grid: P35 House Number: 4750 Compass: N Street Name: 28th St Suffix: Street City/Town Code: Phoenix State/Province: AZ Zip Code: 85016 County Code: Maricopa Assessor Number: 163-18-083-F Tax Year: 2016
General Property Description
# of Buildings: 7 Uncvrd Parking Spcs: 12 Lot Size Dimensions: unknown Total # of Units: 25 Elementary School District: Madison Elementary District High School District: Phoenix Union High School District Year Built: 1969 Zoning: R-3
Project Type
25 - 50 Units: 1
Construction
Block: 1
Const - Finish
Painted: 1
Roofing
Composition: 1
Floors
Vinyl: 1 Ceramic Tile: 1 Carpet: 1
Sale Includes
Land & Building: 1 Pool Equipment: 1 Laundry Equipment: 1
Income & Expenses
Annual Elec Exp: 4000 Annual Gas Exp: 850 Annual Ins Exp: 5000 Annual Land Lse Exp: 0 Annual Landscape Exp: 6500 Annual Legal & Acctg: 0 Annual Maint Exp: 7500 Annual Mgmt Exp: 12500 Annual Trash Exp: 3000 Annual Wtr/Swr Exp: 17500 Owner Association: No Annual Ownr Asoc Fee: 0 Annual PAD Fee: 0 Annual Rplcmnt Rsrvs: 7500 Annual Other Expense: 0 Operating Exp: 77460 Other Income: 20550 Vacancy Allowance: 0.05 Adjusted Gross Inc: 361522.5
Pmt & Rate Info
Cap Rate: 5.35 Down Payment: 0 Equity: 3999999 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0 Assessment Balance: 0
Community Features
Pool: 1
Heating
Electric: 1
Cooling
Central Air: 1
Tenant Pays
Electricity: 1
Appliances Included
Refrigerator: 1 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
Carport: 1 Paved: 1
Electric
SRP: 1
Gas
SW Gas: 1
Owner Pays
Water: 1 Sewer: 1 Trash Collection: 1
New Financing
Other (See Remarks): 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
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
Other (See Remarks): 1
Existing 3rd Loan Terms
Not Applicable: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Efficiency Units
Avg Rent: 0
1 Bedroom Units
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 25 Avg Rent: 1200 Avg SqFt: 803 # Baths: 1
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Conventional Loan Years: 10 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: 28th Street & Camelback Road Directions: South on 28th Street to Property. Geo Lat: 33.507671 Geo Lon: -112.021953
Status Change Info
Off Market Date: 2017-10-11 Under Contract Date: 2017-09-26 Close of Escrow Date: 2017-12-29 Sold Price: $4,000,000
Legal Info
Lot Number: unknown
Income Expenses
Gross Annual Sch Inc: 360000 Net Operating Income: 214061
Property Features
Project Type: 25 - 50 Units Construction: Block Const - Finish: Painted Roofing: Composition Floors: Vinyl; Ceramic Tile; Carpet Sale Includes: Land & Building; Pool Equipment; Laundry Equipment Community Features: Pool Appliances Included: Built-In Range; Refrigerator Cooling: Central Air Water Source: City Franchise Sewer: Sewer - Public Electric: SRP Gas: SW Gas Parking Features: Carport; 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: 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: ABI Multifamily
Last Updated: December - 27 - 2024
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