$2,266,000
Phoenix, AZ 85021
MLS# 6551334
Status: Closed
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Property Description
16-unit apartment community located at 1703 West Mountain View Road in Phoenix, AZ. Situated in the sought-after Mountain View Acres subdivision of Phoenix. Constructed in 1982, the building features (8) 1-bedroom / 1-bathroom and (8) 2-bedroom / 1-bathroom units. The asset includes (3) fully renovated units and (13) classic units with potential for upgrades. The apartment community provides parking for each unit and on-site laundry facilities. The location is minutes away from North Mountain, known for its numerous hiking trails, and within walking distance of the Arizona Canal Trail. Moreover, Mountain View Apartments is also conveniently located close to the I-17 Highway and is within biking distance to the 19th Avenue and Dunlap light rail station.
Details
Maps
Contract Info
Current Price: $2,266,000
Sold Price: $2,266,000
Status: Closed
List Date: 2023-05-02
Ownership: Fee Simple
Subagents: N
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: M34
House Number: 1703
Compass: W
Street Name: MOUNTAIN VIEW
St Suffix: Road
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85021
Zip4: 0923
Country: USA
County Code: Maricopa
Legal Description (Abbrev): IDLE EASE MCR 33-20 LOT 12 BLK 1 EX S 50F & EX N 3F & EX E 10F & EX 12F CUR IN NE COR
Subdivision: IDLE EASE
Assessor's Map #: 21
Assessor's Parcel #: 74
Add'l Parcels: Yes
Assessor Number: 158-21-074
Legal: IDLE EASE MCR 33-20 LOT 12 BLK 1 EX S 50F & EX N 3F & EX E 10F & EX 12F CUR IN NE COR
Census Tract: 104501
Tax Municipality: Phoenix
Taxes: 4214
Tax Year: 2022
Marketing Name: Mountain View Apartments
General Property Description
Lot Size Dimensions: 10,600
Year Built: 1982
Uncvrd Parking Spcs: 16
Total # of Units: 16
# of Buildings: 1
Zoning: R-4
Elementary School District: Washington Elementary District
High School District: Glendale Union High School District
Remarks & Misc
Geo Lat: 33.574569
Geo Lon: -112.095786
Status Change Info
Status Change Date: 2023-08-12
Off Market Date: 2023-07-11
Under Contract Date: 2023-05-22
Close of Escrow Date: 2023-08-21
Sold Price: $2,266,000
Legal Info
Township: 3N
Range: 3E
Section: 30
Block: 1
Lot Number: 12
Income & Expenses
Owner Association: No
Operating Exp: 4214
Gross Annual Sch Inc: 233412
Other Income: 3996
Vacancy Allowance: 3.5
Adjusted Gross Inc: 593520
Net Operating Income: 195118
Pmt & Rate Info
Cap Rate: 7.62
Down Payment %: 30
Monthly Payments: 9707
Equity: 2560000
1 Bedroom Units
# 1 Bedroom Units: 8
Avg Rent: 1182
Avg SqFt: 625
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 8
Avg Rent: 1384
Avg SqFt: 700
# Baths: 1
Sold Info
Loan Type: Conventional
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: 13 - 24 Units
Construction: Block
Const - Finish: Painted
Roofing: Comp Shingle
Floors: Vinyl; Wood; Ceramic Tile
Sale Includes: Land & Building
Community Amenities: No Pool
Appliances Included: BI Oven/Range
Heating: Central
Cooling: Ceiling Fan(s); Central A/C
Water: City Franchise
Sewer: Sewer - Public
Electric: Individual Meter
Gas: Other (See Remarks)
Parking: <1 Space Per Unit
Roads/Streets: Asphalt
Owner Pays: Trash Collection; Landscaping
Tenant Pays: Electric
Source of Fincl Data: Projected Proforma
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
New Financing: Conventional
Reports/Disclosures: None
Environmental: None
Listing Office: ABI Multifamily
Last Updated: August - 22 - 2023
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