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Key Details
Sold Price $960,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Collins Phoenix Blks 23-26, 17, 27
MLS Listing ID 5987818
Sold Date 03/08/20
Maintenance Fees $2,400
Originating Board Arizona Regional Multiple Listing Service (ARMLS)
Year Built 1940
Annual Tax Amount $1,078
Tax Year 2019
Lot Dimensions 49 FT X 157.5 Ft
Property Description
1846 is a boutique-style apartment community originally built in 1940, renovated in 2016 and extensively remodeled in 2019. The community offers a mix of studio, one- and two-bedroom rental units. The units provide the resident the comfort of individual AC and microwaves as well as other unit attributes. The 2019 renovation included two new main water heaters, new roofs on both buildings, exterior paint and stucco siding, electrical panels, three units completely rewired and rebuilt, 6 new AC units, new sewer main, new walkways and exterior awnings.
At list price, 1846 produces a cap rate of 7.58% with room for future rent growth to the new investor.
Location
State AZ
County Maricopa
Community Collins Phoenix Blks 23-26, 17, 27
Zoning C-3
Interior
Heating Electric
Cooling Wall/Window Unit(s)
Flooring Other
Appliance Refrigerator, Microwave, BI OvenRange
Exterior
Parking Features Other (See Remarks)
Community Features No Pool
Roof Type See Remarks, Other
Total Parking Spaces 12
Building
Sewer Public Sewer
Water City Franchise
New Construction No
Schools
School District Phoenix Union High School District
Others
Senior Community No
Tax ID 115-03-074
Financing Conventional
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Bought with Keller Williams Realty Phoenix