Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$3,450,000
Last Modified:
8/01/2017
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2835 W NORTHERN Avenue, Phoenix, AZ 85051
$3,450,000
Description
Northern Palms is a 50-unit garden style apartment community located in northwest Phoenix in a highly visible location on Northern Avenue that has recently been completely renovated and repositioned with premium finishes. The property is made of block construction with new built-up foam roofs and is individually-metered for electricity with all new HVAC units.
The unit mix is comprised of 49 one-bedroom units and 1 two-bedroom floor plans that are very well designed and range in size from ±596 to ±1200 square feet. The units have been extensively renovated and feature modern shaker style cabinetry, new countertops, faux wood vinyl flooring, full-size electric appliances, ceramic tile shower surrounds with new brushed nickel fixtures and new interior doors.
More Information MLS# 5588657
Contract Info
Current Price: $3,450,000
Sold Price: $3,450,000
Status: Closed
List Date: 2017-04-10
Ownership: Fee Simple
Location Tax Legal
Map Code/Grid: N33
House Number: 2835
Compass: W
Street Name: NORTHERN
St Suffix: Avenue
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85051
Zip4: 6672
Country: USA
County Code: Maricopa
Subdivision: BEVERLY ACRES
Assessor Number: 151-01-010
Tax Year: 2016
General Property Description
Lot Size Dimensions: 150'x300'
Year Built: 1972
Uncvrd Parking Spcs: 50
Total # of Units: 50
# of Buildings: 3
Zoning: R-5
High School District: Glendale Union High School District
Remarks Misc
Cross Street: 27th Avenue and Northern
Geo Lat: 33.552554
Geo Lon: -112.1204
Status Change Info
Status Change Date: 2017-08-01
Off Market Date: 2017-05-11
Under Contract Date: 2017-05-11
Close of Escrow Date: 2017-07-31
Sold Price: $3,450,000
Legal Info
Township: 2N
Range: 2E
Section: 2
Lot Number: 7
Income Expenses
Gross Annual Sch Inc: 406500
Net Operating Income: 241363
1 Bedroom Units
# 1 Bedroom Units: 49
Avg Rent: 675
Avg SqFt: 596
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 1
Avg Rent: 800
Avg SqFt: 1200
# Baths: 1
Contact Info
List Agent Home Phn: 602-735-5634
Sold Info
Loan Type: Conventional
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: 25 - 50 Units
Construction: Block
Const - Finish: Painted
Roofing: Built-Up; Foam
Floors: Vinyl
Sale Includes: Land & Building
Payment Includes: Principal; Interest
Community Amenities: No Pool
Exterior Amenities: Landscape Wtr System
Appliances Included: F/S Oven/Range; Refrigerator
Heating: Individual
Cooling: Electric; Individual
Water: City Franchise
Sewer: Sewer - Public
Electric: SRP; Individual Meter
Gas: SW Gas; Master Meter
Parking: <1 Space Per Unit; Paved Parking
Owner Pays: Water; Trash Collection
Tenant Pays: Electric
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
Environmental: None
Listing Office: CBRE, Inc
Last Updated: August - 01 - 2017
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