813 E MARLETTE Avenue, Phoenix, AZ 85014
$5,115,000
Property Type: Multiple Dwellings Status: Closed
Current Price: $5,115,000 List Date: 4/07/2022 Last Modified: 6/25/2022
Description
Location, Location, Location! 813 Marlette Apartments sits directly in the middle of Uptown Phoenix just off the famed 7th Street Corridor and Restaurant Row. Situated on a quiet street still minutes away from great restaurants, Uptown Plaza, and easy freeway access points to SR51 and I-10. The property has 14 units. Including (13) 2/2 units, and (1) is a 1/1 unit. It received a full remodel in 2020 with popular modern finishes. All the units include an in-suite washer and dryer. Several units have large outdoor backyards. The property has a new roof, windows, doors, security system, and more. The property has low maintenance desert-scape and a nice courtyard. Each unit is individually metered. This is a rare and excellent investment in an A location that you don't want to miss!
More Information MLS# 6379688
Contract Info
Ownership: Fee Simple Current Price: $5,115,000 Sold Price: $5,115,000 Status: Closed List Date: 2022-04-06
Location, Tax & Legal
Assessor's Map #: 15 Legal Description (Abbrev): ORANGE HEIGHTS N2 N2 LOT 37 EX W 488' EX N 25' & S 8' Assessor's Parcel #: 35 Assessor Parcel Ltr: F Add'l Parcels: No Tax Municipality: Phoenix Census Tract: 106501 Taxes: 8669 Legal: ORANGE HEIGHTS N2 N2 LOT 37 EX W 488' EX N 25' & S 8' Marketing Name: 813 Marlette Apartments Map Code/Grid: N34 House Number: 813 Compass: E Street Name: MARLETTE St Suffix: Avenue City/Town Code: Phoenix State/Province: AZ Zip Code: 85014 Zip4: 1507 County Code: Maricopa Subdivision: ORANGE HEIGHTS LOTS 44, 45 & TR A Assessor Number: 161-15-035-F Tax Year: 2021
General Property Description
# of Buildings: 1 Uncvrd Parking Spcs: 0 Lot Size Dimensions: 146x122 Total # of Units: 14 Elementary School District: Madison Elementary District High School District: Phoenix Union High School District Year Built: 1962 Zoning: R4
Legal Info
Range: 3E Section: 9 Township: 2N Lot Number: 37
Project Type
13 - 24 Units: 1
Construction
Block: 1 Other: 1
Const - Finish
Painted: 1 Other (See Remarks): 1
Roofing
Other: 1
Floors
Other: 1
Sale Includes
Land & Building: 1
Income & Expenses
Owner Association: No Annual Ownr Asoc Fee: 0 Annual Other Expense: 36671 Operating Exp: 45340 Other Income: 11022 Vacancy Allowance: 0.05 Adjusted Gross Inc: 306015.9
Pmt & Rate Info
Cap Rate: 4.75 Equity: 5495990 Down Payment %: 0 Monthly Payments: 0 Total Owed: 0
Showing Notification Methods
Text: 1 Email: 1 Phone Call: 1
Lockbox Type
None: 1
Community Features
No Pool: 1
Heating
Electric: 1
Cooling
Electric: 1
Exterior Amenities
Desert Landscaping: 1 Partially Fenced: 1 Patio/Balcony: 1 Security Light(s): 1
Interior Features
Fire Sprinklers: 1
Tenant Pays
Electricity: 1
Appliances Included
Dishwasher: 1 Microwave: 1 Refrigerator: 1 Free-Standing Range: 1 Washer/Dryer: 1
Road Surface Type
Asphalt: 1
Source of Fincl Data
Projected Proforma: 1
Water Source
Master Meter: 1 Other: 1
Sewer
Sewer - Public: 1
Parking Features
Other: 1
Electric
Individual Meter: 1
Gas
Other (See Remarks): 1
Owner Pays
Water: 1 Sewer: 1 Trash Collection: 1 Landscaping: 1
New Financing
Conventional: 1 1031 Exchange: 1
Special
Owner/Agent: 1
Existing 1st Loan
Conventional: 1
Reports/Disclosures
Other (See Remarks): 1
Environmental
None: 1
Contact Info
List Agent Cell Phn2: 6127701717
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 1 Avg Rent: 1400 Avg SqFt: 550 # Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 13 Avg Rent: 1684 Avg SqFt: 929 # Baths: 2
3 Bedrooms Units
Avg Rent: 0
4 Bedrooms Units
Avg Rent: 0
Sold Info
Loan Type: Cash Closing Cost Split: Normal - N Payment Type: Other Buyer Concession to Seller: 0 Buyer Concession $/%: % Seller Concession to Buyer: 90000 Seller Concession $/%: $
Remarks Misc
Cross Street: 7th Street & Bethany Home Rd Directions: North on 7th Street, East on Marlette to property on South side of street. Geo Lat: 33.528922 Geo Lon: -112.06307
Status Change Info
Off Market Date: 2022-05-25 Under Contract Date: 2022-05-12 Close of Escrow Date: 2022-06-24 Sold Price: $5,115,000
Income Expenses
Gross Annual Sch Inc: 311100 Net Operating Income: 261227
Property Features
Project Type: 13 - 24 Units Construction: Block; Other Const - Finish: Painted; Other (See Remarks) Roofing: Other Floors: Other Sale Includes: Land & Building Community Features: No Pool Exterior Amenities: Desert Landscaping; Partially Fenced; Patio/Balcony; Security Light(s) Interior Features: Fire Sprinklers Appliances Included: Free-Standing Range; Refrigerator; Dishwasher; Microwave; Washer/Dryer Cooling: Electric Water Source: Master Meter; Other Sewer: Sewer - Public Electric: Individual Meter Gas: Other (See Remarks) Parking Features: Other Road Surface Type: Asphalt Owner Pays: Water; Trash Collection; Landscaping Tenant Pays: Electricity Source of Fincl Data: Projected Proforma Special: Owner/Agent Showing Notification Methods: Text; Email; Phone Call Lockbox Type: None Existing 1st Loan: Conventional New Financing: Conventional; 1031 Exchange Environmental: None
Documents
Offering Memorandum › Listing Office: HomeSmart
Last Updated: June - 25 - 2022
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