Property Type:
Multiple Dwellings
Status:
Closed
Current Price:
$3,775,000
Last Modified:
6/02/2021
Search
5624 N 6TH Street, Phoenix, AZ 85012
$3,775,000
Description
5624-5646 N 6th St
Renovated in 2020, The Madison boasts mid-century art deco style
architecture modernized to fit the young professional tenant base the
property now attracts. Given its location in the sought after Uptown Central
Phoenix Corridor, its walking distance from some of Phoenix's hottest
new restaurants, cafes and social spots and detailed scope of remodel,
which includes almost $700,000 in total Capital Improvement costs, The
Madison provides a remarkable opportunity for immediate value along with
considerable future upside potential.
Built in 1952 of block construction, pitched roofs, art deco windows and front
and rear entryways, The Madison is a prime example of Phoenix historical
architecture and charm reinvigorated to match today's market of multifamily.
More Information MLS# 6042037
Contract Info
Current Price: $3,775,000
Sold Price: $3,775,000
Status: Closed
List Date: 2020-02-26
Ownership: Fee Simple
Location Tax Legal
Map Code/Grid: N34
House Number: 5624
Compass: N
Street Name: 6TH
St Suffix: Street
City/Town Code: Phoenix
State/Province: AZ
Zip Code: 85012
Zip4: 1300
Country: USA
County Code: Maricopa
Subdivision: CAMEL SQUARE
Assessor Number: 162-35-021
Tax Year: 2019
General Property Description
Lot Size Dimensions: 58,800
Year Built: 1949
Uncvrd Parking Spcs: 20
Total # of Units: 18
# of Buildings: 6
Zoning: R-3
Elementary School District: Madison Elementary District
High School District: Phoenix Union High School District
Elementary School: Madison Elementary School
Jr. High School: Madison Meadows School
High School: Central High School
Remarks Misc
Cross Street: 7th St. & Bethany Home
Directions: South to Montebello. West to 6th St. South to property
Geo Lat: 33.518963
Geo Lon: -112.066542
Status Change Info
Status Change Date: 2021-05-08
Off Market Date: 2021-05-08
Under Contract Date: 2021-02-22
Close of Escrow Date: 2021-04-15
Sold Price: $3,775,000
Legal Info
Township: 2N
Range: 3E
Section: 17
Lot Number: 22
Income Expenses
Net Operating Income: 240759
1 Bedroom Units
# 1 Bedroom Units: 11
Avg Rent: 1295
Avg SqFt: 628
# Baths: 1
2 Bedroom Units
# 2 Bedroom Units: 6
Avg Rent: 1495
Avg SqFt: 900
# Baths: 1
3 Bedrooms Units
# 3 Bedroom Units: 1
Avg Rent: 1595
Avg SqFt: 950
# Baths: 2
Sold Info
Loan Type: Conventional
Loan Years: 15
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: Vinyl; Wood
Sale Includes: Land & Building
Payment Includes: Principal
Community Amenities: No Pool
Exterior Amenities: Landscape Wtr System; Green Landscaping; Separate Storage
Interior Amenities: Unfurnished
Appliances Included: BI Oven/Range; Microwave
Heating: Natural Gas
Cooling: Individual
Water: City Franchise
Sewer: Sewer - Public
Electric: SRP
Gas: SW Gas
Parking: Carport; <1 Space Per Unit; Paved Parking
Owner Pays: Water; Trash Collection
Tenant Pays: Water; Sewer; Trash
Source of Fincl Data: Provided by Owner
Showing Notification Methods: Text; Email; Phone Call
Existing 1st Loan: Conventional
Existing 1st Ln Type: Not Applicable
Existing 1st Ln Trms: Not Applicable
Existing 2nd Loan: Other (See Remarks)
Existing 2nd Ln Type: Not Applicable
Existing 2nd Ln Trms: Not Applicable
Existing 3rd Loan: Other (See Remarks)
Existing 3rd Ln Type: Not Applicable
Existing 3rd Ln Trms: Not Applicable
Existing Othr Ln Trm: Not Applicable
New Financing: Conventional; 1031 Exchange; Other (See Remarks)
Environmental: None
Listing Office: Taylor Street Realty Services
Last Updated: June - 02 - 2021
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