2540 W MARYLAND Avenue, Phoenix, AZ 85017
$4,999,950
Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$4,999,950
Last Modified:
9/02/2020
Description
ATTENTION: $1.2M REDUCTION FOR IMMEDIATE CASH SALE! Priced appx. $27.5k a door, and $37.90 sq/ft. Separately metered. Remodeled from top to bottom in 2011-2012.approximately 131,816 livable sq ft. Great unit mix with 75% large two bedroom, 25% large one bedrooms. 100% HOA control. Appx, 11% cap at 80% occupancy. Best multi-family opportunity in Phoenix today. Compare this property to anything comparable and you will be writing a check.
More Information MLS# 4824545
Contract Info
Ownership: Fee Simple
Current Price: $4,999,950
Sold Price: $4,999,950
Status: Closed
List Date: 2012-09-25
Location, Tax & Legal
Assessor's Map #: 2
Legal Description (Abbrev): MARIBELA CONDOMINIUMS
Assessor's Parcel #: 273
Add'l Parcels: Yes
Tax Municipality: Phoenix
Census Tract: 106801
Taxes: 36000
Legal: MARIBELA CONDOMINIUMS MCR 831-02
Marketing Name: Maribela Luxury Condos
Map Code/Grid: N33
House Number: 2540
Compass: W
Street Name: MARYLAND
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85017
Zip4: 6227
County Code: Maricopa
Assessor Number: 156-02-273
Tax Year: 2012
General Property Description
# of Buildings: 12
Uncvrd Parking Spcs: 60
Lot Size Dimensions: Irregular
Total # of Units: 192
Elementary School District: Washington Elementary District
High School District: Glendale Union High School District
Year Built: 1985
Zoning: R4
Legal Info
Range: 2E
Section: 12
Township: 2N
Lot Number: 249
Project Type
100+ Units: 1
Construction
Wood Frame: 1
Const - Finish
Painted: 1
Stucco: 1
Roofing
Foam: 1
Floors
Wood: 1
Ceramic Tile: 1
Carpet: 1
Sale Includes
Land & Building: 1
Pool Equipment: 1
Income & Expenses
Annual Elec Exp: 8800
Annual Gas Exp: 1464
Annual Ins Exp: 12672
Annual Land Lse Exp: 0
Annual Landscape Exp: 9600
Annual Legal & Acctg: 34000
Annual Maint Exp: 20477
Annual Mgmt Exp: 20000
Annual Trash Exp: 1848
Annual Wtr/Swr Exp: 36000
Owner Association: Yes
Annual Ownr Asoc Fee: 2340
Annual PAD Fee: 0
Annual Rplcmnt Rsrvs: 0
Annual Other Expense: 0
Operating Exp: 183201
Other Income: 11400
Vacancy Allowance: 0.1
Adjusted Gross Inc: 913680
Pmt & Rate Info
Cap Rate: 10.08
Down Payment: 3600000
Equity: 4999950
Down Payment %: 60
Monthly Payments: 20000
Total Owed: 0
Assessment Balance: 0
Payment Includes
Interest: 1
Community Features
Pool: 1
Spa(s): 1
Manager Res/Office: 1
Barbecue: 1
Heating
Electric: 1
Cooling
Ceiling Fan(s): 1
Electric: 1
Exterior Amenities
Landscape Water System: 1
Desert Landscaping: 1
Fenced: 1
Patio/Balcony: 1
Security Guard: 1
Security Light(s): 1
Tenant Pays
Electricity: 1
Appliances Included
Built-In Range: 1
Refrigerator: 1
Trash Compactor: 1
Washer/Dryer: 1
Source of Fincl Data
Owner: 1
Water Source
City Franchise: 1
Sewer
Sewer - Public: 1
Parking Features
Carport: 1
Free: 1
>1 Space Per Unit: 1
Electric
SRP: 1
Gas
SW Gas: 1
Owner Pays
Water: 1
Trash Collection: 1
Landscaping: 1
Pool Maintenance: 1
New Financing
Conventional: 1
Owner May Carry: 1
Existing 1st Loan
Private: 1
Existing 2nd Loan
Treat as Free&Clear: 1
Existing 3rd Loan
Treat as Free&Clear: 1
Reports/Disclosures
Seller Prop Disc Stm: 1
Environmental
None: 1
Existing Othr Ln Trm
Not Applicable: 1
Contact Info
List Agent Home Phn: 602-615-6900
Efficiency Units
Avg Rent: 0
1 Bedroom Units
# 1 Bedroom Units: 46
Avg Rent: 480
Avg SqFt: 600
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 135
Avg Rent: 650
Avg SqFt: 700
# Baths: 1
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: 0
Seller Concession $/%: $
Remarks Misc
Cross Street: 27th ave and Maryland
Directions: Head east on Maryland Ave from 27th Ave. Property is on north side of street.
Geo Lat: 33.53163
Geo Lon: -112.11484
Status Change Info
Off Market Date: 2012-10-25
Under Contract Date: 2012-10-22
Close of Escrow Date: 2012-11-20
Sold Price: $4,999,950
Income Expenses
Gross Annual Sch Inc: 1003800
Net Operating Income: 504000
Property Features
Project Type: 100+ Units
Construction: Wood Frame
Const - Finish: Painted; Stucco
Roofing: Foam
Floors: Wood; Ceramic Tile; Carpet
Sale Includes: Land & Building; Pool Equipment
Payment Includes: Interest
Community Features: Pool; Spa(s); Manager Res/Office; Barbecue
Exterior Amenities: Landscape Water System; Desert Landscaping; Fenced; Patio/Balcony; Security Guard; Security Light(s)
Appliances Included: Built-In Range; Refrigerator; Trash Compactor; Washer/Dryer
Cooling: Ceiling Fan(s); Electric
Water Source: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking Features: Carport; >1 Space Per Unit; Free
Owner Pays: Water; Trash Collection; Landscaping; Pool Maintenance
Tenant Pays: Electricity
Source of Fincl Data: Owner
Existing 1st Loan: Private
Existing 2nd Loan: Treat as Free&Clear
Existing 3rd Loan: Treat as Free&Clear
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional; Owner May Carry
Environmental: None
Listing Office:
Realty USA Southwest
Last Updated: September - 02 - 2020
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