Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$3,500,000
Last Modified:
7/29/2023
Search
1625 E LAMAR Road, Phoenix, AZ 85016
$3,500,000
Description
Reflection is a Luxury 4 home townhome development offering an investor diverse options of ownership and divestment: operate as a multifamily conventional rental project, luxury AirBNB, or divest as single sale townhomes to owner-occupiers. Each home offers up to 4 bedrooms with den and range in size from 2648 sf to 2856sf. Stunning appointments include Hardwood flooring , 10ft ceilings , Gourmet kitchens with 36 inch Jennair Gas range , Large quartz islands, Multi side doors to ground floor patios and large viewing decks off primary bedrooms. Each home also has a bedroom and full bath on the ground floor as well and dual HVAC systems, Tankless Gas HW and EV prepared outlet in each garage . Primary Bath has free standing tub and oversized shower. Yards are generous and private .
Supplements: The property is located a short distance from downtown Phoenix and The Biltmore Corridor, a premier upscale residential and financial district, Paradise Valley and Old Town Scottsdale
More Information MLS# 6487558
Contract Info
Current Price: $3,500,000
Sold Price: $3,500,000
Status: Closed
List Date: 2022-10-31
Ownership: Fee Simple
Location Tax Legal
Map Code/Grid: N35
House Number: 1625
Compass: E
Street Name: LAMAR
St Suffix: Road
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85016
Country: USA
County Code: Maricopa
Subdivision: Lamar Townhomes
Assessor Number: 164-34-005
Tax Year: 2021
General Property Description
Lot Size Dimensions: irregular
Year Built: 2023
Total # of Units: 4
# of Buildings: 2
Zoning: R3
Flood Zone: No
Elementary School District: Madison Elementary District
High School District: Phoenix Union High School District
Elementary School: Madison #1 Middle School
Jr. High School: Madison Rose Lane School
High School: Central High School
Remarks Misc
Cross Street: 16th Street and Glendale
Directions: 16th Street block south of Glendale to Lamar , East to property
Geo Lat: 33.536552
Geo Lon: -112.046275
Status Change Info
Status Change Date: 2023-07-29
Off Market Date: 2023-07-29
Under Contract Date: 2023-04-08
Close of Escrow Date: 2023-06-30
Sold Price: $3,500,000
Legal Info
Township: 2N
Range: 3E
Section: 10
Lot Number: 1,2,3,4
Income Expenses
Gross Annual Sch Inc: 240000
Net Operating Income: 216600
4 Bedrooms Units
# 4 Bedroom Units: 4
Avg Rent: 4750
Avg SqFt: 2752
# Baths: 3
Sold Info
Loan Type: Conventional
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession to Buyer: 99000
Seller Concession $/%: %
Property Features
Project Type: Four Plex
Construction: Frame - Wood
Const - Finish: Painted; Stucco; Siding
Roofing: Foam
Floors: Wood; Ceramic Tile
Sale Includes: Land & Building
Community Amenities: No Pool; Other
Exterior Amenities: Desert Landscaping; Fenced; Patio/Balcony
Interior Amenities: Unfurnished; Fire/Smoke Alarm(s); Mini Blinds; Breakfast Bar; Other (See Remarks)
Appliances Included: F/S Oven/Range; Refrigerator; Dishwasher; Disposal; Microwave; W/D Hookup
Heating: Individual; Central; 2 or More Units
Cooling: Ceiling Fan(s); Electric; Heat Pump; Central A/C; 2 or More Units
Water: City Franchise; Individual Meter
Sewer: Sewer - Public; Sewer-In & Connected
Electric: APS; Individual Meter
Gas: SW Gas; Individual Meter
Parking: Garage; Street Parking; >1 Space Per Unit; Attached; Auto Door Opener
Owner Pays: Landscaping; Other
Tenant Pays: Water; Electric; Gas; Trash; Cable TV
Source of Fincl Data: Projected Proforma
Showing Notification Methods: Text; Email; Phone Call
Lockbox Type: None
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 Othr Ln Trm: Not Applicable
New Financing: Conventional
Environmental: None
Listing Office: REI Marketing
Last Updated: July - 29 - 2023
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