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Key Details
Sold Price $350,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision West Phoenix No 4
MLS Listing ID 6311665
Sold Date 12/21/21
Originating Board Arizona Regional Multiple Listing Service (ARMLS)
Year Built 1946
Annual Tax Amount $1,159
Tax Year 2021
Lot Dimensions 6460
Property Description
3816 and 3818 W Portland street are being sold in conjunction ($700,000) for both. These provide great opportunity, whether you are looking for a turn key investment or a property with room for improvement. The complex is in a central location that provides easy access to the i-10, downtown phoenix, and the airport, making it very desirable for a wide range of tenants. On the property, you will find 4 1bed/1bath units, a 2bed/1bath unit, and a 3bed/2bath unit. Not only is this property fully occupied, the property has gone under major renovations tackling big ticket items totaling over $125,000.
The gross income on 3818-3816 is $54,600, vacancy allowance of 5% ($2,730), insurance estimate is $2,174, property tax is $1,438, w/s/g is an estimated $3032. Netting $45,227 (6.4% cap)
Location
State AZ
County Maricopa
Community West Phoenix No 4
Zoning [R-6]
Direction From I-10 W take 35th ave exit and go south to Portland (about half mile) go south on Portland to property on the right side
Interior
Heating Electric
Cooling Electric, Wall/Window Unit(s), Ceiling Fan(s)
Flooring Carpet, Ceramic Tile
Appliance F/S Oven/Range, Washer/Dryer
Exterior
Garage 1 Space/Unit, Street Parking
Community Features No Pool
Waterfront No
Roof Type Composition
Parking Type 1 Space/Unit, Street Parking
Total Parking Spaces 3
Building
Sewer Public Sewer
Water City Franchise, Master Meter
Schools
Elementary Schools Isaac Middle School
Middle Schools Isaac Middle School
School District Phoenix Union High School District
Others
Senior Community No
Tax ID 106-09-133
Acceptable Financing Conventional, 1031 Exchange
Listing Terms Conventional, 1031 Exchange
Financing Conventional
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Bought with West USA Realty
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Julia Miller
Broker Associate | License ID: BR634143000
Broker Associate License ID: BR634143000