Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$3,000,000
Last Modified:
4/29/2024
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2922 N 35TH Street, Phoenix, AZ 85018
$3,000,000
Description
The Vara Apartments are 21-unit garden style apartments located in the highly sought out for neighborhood of ARCADIA LITE. These units have been updated with stainless steel appliances, polished concrete floors, and huge walk in closets. Amenities include a pergola sitting area, BBQ, gated/covered parking and onsite laundry facility for additional income. Most tenants are month to month with room to raise rents. All units have one covered parking space within the gated community. Tenants pay electric, cable and internet. Close to Sky Harbor Airport, Downtown Phoenix, ASU, Biltmore shopping center and Camelback Mountain.
More Information MLS# 6077227
Contract Info
Current Price: $3,000,000
Sold Price: $3,000,000
Status: Closed
List Date: 2020-05-12
Ownership: Fee Simple
Location Tax Legal
Map Code/Grid: P35
House Number: 2922
Compass: N
Street Name: 35TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85018
Zip4: 7415
Country: USA
County Code: Maricopa
Subdivision: WEST CITRUS ACRES
Assessor Number: 127-30-004
Tax Year: 2019
General Property Description
Lot Size Dimensions: 21,115
Year Built: 1968
Total # of Units: 21
# of Buildings: 3
Zoning: R-4
Elementary School District: Creighton Elementary District
High School District: Phoenix Union High School District
Elementary School: Creighton Elementary School
Jr. High School: Creighton Elementary School
High School: Camelback High School
Remarks Misc
Cross Street: 35th Street and Thomas
Directions: East on Thomas Rd, North on 35th St.
Geo Lat: 33.481544
Geo Lon: -112.006843
Status Change Info
Status Change Date: 2020-10-09
Off Market Date: 2020-09-25
Under Contract Date: 2020-08-11
Close of Escrow Date: 2020-10-09
Sold Price: $3,000,000
Legal Info
Township: 2N
Range: 3E
Section: 25
Lot Number: 181
Income Expenses
Gross Annual Sch Inc: 237300
Net Operating Income: 190352
1 Bedroom Units
# 1 Bedroom Units: 19
Avg Rent: 925
Avg SqFt: 700
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 1100
Avg SqFt: 850
# Baths: 1
Sold Info
Loan Type: Exchange
Loan Years: 30
Payment Type: Fixed
Closing Cost Split: Normal - N
Buyer Concession $/%: $
Seller Concession $/%: $
Property Features
Project Type: 13 - 24 Units
Construction: Block
Const - Finish: Painted
Roofing: Comp Shingle
Floors: Concrete; Sealed
Sale Includes: Land & Building
Community Amenities: No Pool; Barbecue; Other; See Remarks
Exterior Amenities: Landscape Wtr System; Desert Landscaping; Partially Fenced; Cable TV Available; Security Light(s)
Interior Amenities: Unfurnished; Fire/Smoke Alarm(s)
Appliances Included: F/S Oven/Range; Refrigerator; Disposal; Microwave; Washer/Dryer
Heating: Central
Cooling: Central A/C; Chiller System
Water: City Franchise
Sewer: Sewer - Public
Electric: SRP; Individual Meter
Gas: None
Parking: 1 Space/Unit; Paved Parking
Owner Pays: Water; Electric; Trash Collection; Landscaping
Tenant Pays: Electric; Cable TV
Source of Fincl Data: Provided by Owner
Lockbox Type: None
Existing 1st Loan: Treat as Free&Clear
Existing 1st Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
New Financing: Conventional; 1031 Exchange
Environmental: None
Listing Office: Metro Realty
Last Updated: April - 29 - 2024
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