Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$4,800,000
Last Modified:
7/04/2023
Search
2939 N 36TH Street, Phoenix, AZ 85018
$4,800,000
Description
Originally built in 1981, Avanti Estates has recently undergone extensive improvements including a new roof, resurfaced pool. 90% of the units have been updated with new flooring, appliances, bathrooms and cabinets. The addition of covered parking has allowed for additional income. 85% of the units have received new air conditioning units. The current management is in the process of turning the water, sewer, and trash over to the tenant allowing for a potential gain of 24K a year in profit. All of Avanti Estate units are metered individually for electric.
With a sales price of $5, 500,000, averaging $183,000 per unit, Avanti Estates is an outstanding opportunity for investors.
*Seller may carry with the right offer.
More Information MLS# 6533594
Contract Info
Current Price: $4,800,000
Sold Price: $4,800,000
Status: Closed
List Date: 2023-03-20
Ownership: Fee Simple
Location Tax Legal
Map Code/Grid: P35
House Number: 2939
Compass: N
Street Name: 36TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85018
Zip4: 7456
Country: USA
County Code: Maricopa
Subdivision: CITRUS ACRES LOTS 21-60
Assessor Number: 127-22-011-A
Tax Year: 2022
General Property Description
Lot Size Dimensions: 20868
Year Built: 1981
Uncvrd Parking Spcs: 27
Total # of Units: 30
# of Buildings: 2
Zoning: R4A
Flood Zone: No
Elementary School District: Phoenix 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: 36th Street and Osborn
Directions: Just north of Thomas on 36th Street. Property on the east side of the street
Geo Lat: 33.482069
Geo Lon: -112.003606
Status Change Info
Status Change Date: 2023-07-04
Off Market Date: 2023-05-29
Under Contract Date: 2023-03-28
Close of Escrow Date: 2023-07-03
Sold Price: $4,800,000
Legal Info
Township: 2N
Range: 3E
Section: 25
Lot Number: 9
1 Bedroom Units
# 1 Bedroom Units: 28
Avg Rent: 675
Avg SqFt: 550
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 2
Avg Rent: 850
Avg SqFt: 700
# Baths: 1
Contact Info
List Agent Home Phn: 602-882-3388
Sold Info
Loan Type: Conventional
Loan Years: 30
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: Foam
Floors: Concrete; Carpet
Sale Includes: Land & Building
Community Amenities: No Pool
Exterior Amenities: Desert Landscaping
Appliances Included: BI Oven/Range
Cooling: Electric; Individual
Water: City Franchise
Sewer: Sewer - Public
Electric: SRP; Individual Meter
Gas: None
Parking: 1 Space/Unit
Owner Pays: Water; Trash Collection; Landscaping
Tenant Pays: Electric; Cable TV
Source of Fincl Data: Provided by Owner
Showing Notification Methods: 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 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: CTL; Conventional
Environmental: None
Documents
Brochure ›Listing Office: DeLex Realty
Last Updated: July - 04 - 2023
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