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5225 N 17TH Avenue

Phoenix, AZ 85015
  • $1,125,000
  • STATUS: Active
  • ON SITE: 56 days
  • MLS #: 6244051
UPDATED: 160 min ago
$1,125,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1960
County:
Area:

School Information

Elementary School:
Middle School:
High School:

Description

An income producing property with the potential to take advantage of a high density development implementing the Walkable Urban Code which could potentially allow up to 24 Units on the parcel. Located in the heart of the Solano District and a part of the REINVENT PHX program invented to create and attract investment development. New Zoning Ordinances adopted by City Council allowing a higher density with the Walkable Urban Code (WU) REINVENTPHX is committed to developing a walkable, opportunity rich community connected to the light rail. The property consists of 4 1-bedrooms, 1 2-Bedroom and a 2 Bedroom House. A total of 3 buildings. The units have recently undergone an extensive quality renovation and upgrade. Individually metered for electricity with ample parking.Washer and Dryer hookups available with each unit. House has NOT been updated to the level of apartments in anticipation of replacement with another multi-unit building. Rents are substantially below current market values in the neighborhood. This property also has potential for charging RUBS to offset water/sewer/trash/owner electricity expenses (also typical for surrounding properties). This is a definite VALUE-ADD opportunity!!! Adjacent parcel is also available for assemblage at $650,000. See separate listing for details MLS #6244056.

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© 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than Keller Williams Sonoran Living. Data last updated 2021-07-28T00:11:50.537.
www.arizonahomegroup.com/homes/117775288
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5225 N 17TH Avenue Phoenix, AZ 85015

  • Price: $1,125,000
  • Status: Active
  • Updated: 160 min ago
  • MLS #: 6244051
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1960
Built
Neighborhood:
Nile Tract Block 2
County:
Maricopa
Area:
Phoenix
Elementary School:
Solano School
Middle School:
Osborn Middle School
High School:
Central High School
School District:
008 - Osborn Elementary District
Property Description
An income producing property with the potential to take advantage of a high density development implementing the Walkable Urban Code which could potentially allow up to 24 Units on the parcel. Located in the heart of the Solano District and a part of the REINVENT PHX program invented to create and attract investment development. New Zoning Ordinances adopted by City Council allowing a higher density with the Walkable Urban Code (WU) REINVENTPHX is committed to developing a walkable, opportunity rich community connected to the light rail. The property consists of 4 1-bedrooms, 1 2-Bedroom and a 2 Bedroom House. A total of 3 buildings. The units have recently undergone an extensive quality renovation and upgrade. Individually metered for electricity with ample parking.Washer and Dryer hookups available with each unit. House has NOT been updated to the level of apartments in anticipation of replacement with another multi-unit building. Rents are substantially below current market values in the neighborhood. This property also has potential for charging RUBS to offset water/sewer/trash/owner electricity expenses (also typical for surrounding properties). This is a definite VALUE-ADD opportunity!!! Adjacent parcel is also available for assemblage at $650,000. See separate listing for details MLS #6244056.
Exterior Features

Construction Block Construction Finish PaintedStucco Covered Parking Spaces 1.00 Exterior Amenities Landscape Wtr SystemSeparate StorageSecurity Light(S)Partially Fenced Lot Size Dimensions 23902 Parking >1 Space Per UnitPaved ParkingCarportAdd'l Parking Avail Roads AsphaltSidewalk(S) Roofing Comp Shingle

Interior Features

1 Bedroom Unit Avg Sq Ft 625 1 Bedroom Unit Baths 1 2 Bedroom Unit Avg Sq Ft 834 2 Bedroom Units Baths 1 3 Bedroom Unit Avg Sq Ft 0 3 Bedroom Unit Baths 0 4 Bedroom Unit Avg Sq Ft 0 4 Bedroom Unit Baths 0 Appliances Included F/S Oven/RangeRefrigerator Cooling Electric RefrigeratdIndividualHeat Pump Efficiency Unit Avg Sq Ft 0 Efficiency Unit Baths 0 Floors Ceramic Tile Heating Ceiling Fan(S)Heat PumpElectricCentral

Property Features

1 Bedroom Unit Avg Rent 886.00 1 Bedroom Units 4 2 Bedroom Unit Avg Rent 963.00 2 Bedroom Units 2 3 Bedroom Unit Avg Rent 0.00 3 Bedroom Units 0 4 Bedroom Unit Avg Rent 0.00 4 Bedroom Units 0 Adjusted Gross Inc 63498.00 Annual Elec Exp 250.00 Annual Ins Exp 1900.00 Annual Landscape Exp 600.00 Annual Legal And Acctg 1508.00 Annual Maint Exp 1800.00 Annual Mgmt Exp 4025.00 Annual Other Expense 0.00 Annual Ownr Asoc Fee 0.00 Annual Pad Fee 0.00 Annual Rplcmnt Rsrvs 1500.00 Annual Trash Exp 1632.00 Annual Wtr Swr Exp 2557.00 Community Amenities No Pool Cross Street Camelback Rd & 17th Ave Efficiency Unit Avg Rent 0.00 Efficiency Units 0 Electric Srp Gas None Gross Annual Sch Inc 65640.00 Hoa YN No Net Operating Income 50358.00 New Financing 1031 ExchangeSeller May CarryConventional Operating Exp 18142.00 Other Income 1200.00 Other Type House + Rental Units Owner Pays SewerWaterTrash Collection Project Type 5 - 12 Units Sale Includes Land & Building Sewer Sewer - Public Source Of Financial Data Provided By Owner Tax Municipality Phoenix Taxes 2370.00 Tenant Pays Electric Totl Mnth Rntal Inc 5470.00 Vacancy Allowance 0.05 Water City Franchise Zoning R3

Listing courtesy of Orion Investment Real Estate.


© 2021 Arizona Regional Multiple Listing Service, Inc. All rights reserved. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. The ARMLS logo indicates a property listed by a real estate brokerage other than Keller Williams Sonoran Living. Data last updated 2021-07-28T00:11:50.537.
 
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