$11,350,000
Phoenix, AZ 85008
MLS# 5831544
Status: Closed
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Property Description
Great infill location in Phoenix! Close to Biltmore Fashion Park, Phoenix Sky Harbor, ASU and much more. The Grove on Palm Lane consists of 42 townhome units that are all for-rent. The development consists of 42 two-story single-family homes comprised of 18 buildings of two semi-detached homes and six fully detached homes. There are 36 larger units of over 1,800 square feet with two-car garages and six units of over 1,600 square feet with a single car garage. The lot size is 49,500 square feet. The overall architecture of the exterior is a contemporary style and the interior has higher end finishes consisting of just under 10-foot main floor ceilings, maple/cherry cabinetry and larger trim for base and case. Construction now complete.
Details
Maps
Contract Info
Current Price: $11,350,000
Sold Price: $11,350,000
Status: Closed
List Date: 2018-10-10
Ownership: Fee Simple
Subagents: N
Buyer/Broker: Y
Buyer Broker $/%: %
Location, Tax & Legal
Map Code/Grid: P35
House Number: 2000
Compass: N
Street Name: 36th
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85008
Country: USA
County Code: Maricopa
Legal Description (Abbrev): LOT 1 GROVE ON PALM LANE MCR 133021
Subdivision: GROVE ON PALM LANE
Assessor's Map #: 15
Assessor's Parcel #: 137
Add'l Parcels: Yes
Assessor Number: 120-15-137
Legal: Lots 1-42 Grove on Palm
Tax Municipality: Phoenix
Tax Year: 2018
Marketing Name: The Grove on Palm
General Property Description
Lot Size Dimensions: 569' x 162'
Year Built: 2018
Total # of Units: 42
# of Buildings: 18
Zoning: R-4
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District
Remarks & Misc
Cross Street: 36th Street & Palm Lane
Geo Lat: 33.470338
Geo Lon: -112.0042
Status Change Info
Status Change Date: 2018-12-28
Off Market Date: 2018-12-28
Under Contract Date: 2018-11-29
Close of Escrow Date: 2018-12-28
Sold Price: $11,350,000
Legal Info
Township: 2N
Range: 3E
Section: 36
Lot Number: 1-42
Income & Expenses
Owner Association: Yes
Pmt & Rate Info
Down Payment: 12595800
Equity: 11600000
3 Bedrooms Units
# 3 Bedroom Units: 42
Avg Rent: 1860
Avg SqFt: 18230
# Baths: 25
Sold Info
Loan Type: Cash
Payment Type: Other
Closing Cost Split: Normal - N
Buyer Concession $/%: %
Seller Concession $/%: %
Property Features
Project Type: 25 - 50 Units
Construction: Block; Frame - Wood
Const - Finish: Painted; Stucco
Roofing: Other (See Remarks)
Floors: Ceramic Tile; Carpet
Sale Includes: Building(s) Only
Community Amenities: No Pool
Appliances Included: Other (See Remarks)
Heating: Other; See Remarks
Cooling: Other; See Remarks
Water: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: Other (See Remarks)
Parking: Garage; Street Parking; Attached
Roads/Streets: Asphalt
Owner Pays: Other; See Remarks
Tenant Pays: Water; Sewer; Electric; Trash; Cable TV
Source of Fincl Data: Provided by Owner
Existing 1st Loan: Treat as Free&Clear
Existing 1st Ln Type: Not Applicable
Existing 1st Ln Trms: Not Applicable
Existing 2nd Loan: Treat as Free&Clear
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Treat as Free&Clear
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional
Reports/Disclosures: Other (See Remarks)
Environmental: Other (See Remarks)
Listing Office: City to City Commercial
Last Updated: September - 21 - 2023
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