550 W MARYLAND Avenue 101, Phoenix, AZ 85013
$9,600,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $9,600,000 Last Modified: 11/19/2019
Description
Valencia Townhomes' attractive Tuscan design makes it one of the most unique
and desirable communities in Metro Phoenix. The community consists of 36 townhome units in two two-story buildings that are wrapped by detached parking garages. Individual residences have spacious floor plans averaging ±1,386 square feet with contemporary interiors featuring porcelain tile & hardwoodstyle flooring, granite countertops, stainless-steel energy-efficient appliances including built-in microwaves, large dual-pane windows, garden bathtubs, full size washer and dryers with utility sink, private front courtyard with wrought iron gate, custom iron & glass-front entry door and detached garage parking. Community amenities are a resort-style pool with lounge area & outdoor kitchen area and exercise facility.
More Information MLS# 5915096
Contract Info
Ownership: Fee Simple Current Price: $9,600,000 Sold Price: $9,600,000 Status: Closed List Date: 2019-04-22
Location, Tax & Legal
Unit #: 101 Assessor's Map #: 30 Legal Description (Abbrev): LOT 101 VALENCIA CONDOMINIUM AMD MCR 096208 Assessor's Parcel #: 286 Add'l Parcels: Yes Tax Municipality: Maricopa - COUNTY Census Tract: 106600 Taxes: 60335 Legal: LOT 101 VALENCIA CONDOMINIUM AMD MCR 096208 Marketing Name: Valencia Townhomes Map Code/Grid: N34 House Number: 550 Compass: W Street Name: MARYLAND St Suffix: Avenue City/Town Code: Phoenix State/Province: AZ Zip Code: 85013 Zip4: 1327 County Code: Maricopa Subdivision: VALENCIA CONDOMINIUM AMD Assessor Number: 161-30-286 Tax Year: 2018
General Property Description
# of Buildings: 2 Uncvrd Parking Spcs: 2 Lot Size Dimensions: 106.67' x 615' Total # of Units: 36 Elementary School District: Madison Elementary District High School District: Phoenix Union High School District Year Built: 2009 Zoning: R-3
Legal Info
Range: 3E Section: 8 Township: 2N Lot Number: 101
Project Type
25 - 50 Units: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1 Stucco: 1
Roofing
Built-Up: 1
Floors
Wood: 1 Ceramic Tile: 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: 60335 Other Income: 21600 Vacancy Allowance: 0 Adjusted Gross Inc: 21600
Pmt & Rate Info
Cap Rate: 5.17 Down Payment: 0 Equity: 10250000 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0 Assessment Balance: 0
Community Features
Pool: 1 Exercise Room: 1 Barbecue: 1
Heating
Electric: 1
Cooling
Individual: 1
Tenant Pays
Electricity: 1
Appliances Included
Dishwasher: 1 Microwave: 1 Refrigerator: 1 Built-In Range: 1 Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Owner: 1
Water Source
Master Meter: 1
Sewer
Sewer - Public: 1
Parking Features
Garage: 1 Carport: 1
Electric
Individual Meter: 1
Gas
None: 1
Owner Pays
Water: 1 Sewer: 1 Trash Collection: 1
New Financing
Conventional: 1 No Carry: 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
Avg Rent: 0
2 Bedroom Units
# 2 Bedroom Units: 36 Avg Rent: 1700 Avg SqFt: 1356 # Baths: 2
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Other Closing Cost Split: Normal - N Payment Type: Other Buyer Concession to Seller: 0 Buyer Concession $/%: % Seller Concession to Buyer: 0 Seller Concession $/%: %
Remarks Misc
Geo Lat: 33.531301 Geo Lon: -112.081005
Status Change Info
Off Market Date: 2019-09-23 Under Contract Date: 2019-09-09 Close of Escrow Date: 2019-11-14 Sold Price: $9,600,000
Income Expenses
Net Operating Income: 530024
Property Features
Project Type: 25 - 50 Units Construction: Wood Frame Const - Finish: Painted; Stucco Roofing: Built-Up Floors: Wood; Ceramic Tile; Carpet Sale Includes: Land & Building Community Features: Pool; Exercise Room; Barbecue Appliances Included: Built-In Range; Refrigerator; Dishwasher; Microwave; Washer/Dryer Cooling: Individual Water Source: Master Meter Sewer: Sewer - Public Electric: Individual Meter Gas: None Parking Features: Garage; Carport 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; No Carry Environmental: None
Listing Office: CBRE, Inc
Last Updated: November - 19 - 2019
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